RBC Insurance is an insurance company that offers a variety of insurance products including travel, life, health, home, auto and wealth insurance. RBC Insurance is set up to deal with both individual clients and group clients. Although RBC Insurance is based in Canada and deals with a majority of Canadian clients, it also has plenty of clients located in the United States and around the world. With over five million clients, RBC Insurance is one of the up and coming insurance organizations in Canada. The RBC in the name refers to the Royal Bank of Canada, which owns the group of insurance companies that makes up RBC Insurance.
Some of the many life insurance products that RBC Insurance has to offer include term life insurance, permanent life insurance and universal life insurance. RBC Insurance has two categories of term life insurance: RBC Simplified Term Life Insurance and Regular Term Life Insurance. The simplified life insurance is designed for people who want to protect their families by getting less than $250,000 in coverage. The minimum amount of coverage available under this type of life insurance is $10,000, and you can choose to get insured for either 10 years or 20 years. The amount of money you’ll pay in premiums and the amount of money that your family would receive upon your death are fixed at the start of the term – RBC Insurance won’t start playing games with you two years later. The regular life insurance plan RBC Insurance offers is for people who want coverage consisting of anything from $250,000 to $10,000,000. Like the simplified policy, you can choose to either a 10 year or 20 year term and your premiums and coverage amount are locked in at the start of the term.
For permanent life insurance, RBC Insurance offers two choices: Guaranteed Acceptance Life Insurance and Term 100 Life Insurance. Like the name suggests, Guaranteed Acceptance Life Insurance guarantees that you will be accepted if you meet their terms. To qualify for this permanent life insurance, you need to be a Canadian citizen or permanent Canadian resident between the ages of 50 and 75. There is no requirement to undergo a medical exam or to answer any health questions. You can get coverage for up to $25,000 in death benefits under this plan, which also includes an accidental death benefit and compassionate advance. Term 100 Life Insurance is for people who want $50,000 or more in coverage and are between the ages of 18 and 85.
If you’re looking for both an insurance policy that will last a lifetime and a solid way to invest your assets, check out the RBC Universal Life Insurance Plan. Through its many customizable choices, this flexible plan is designed to meet the needs of every insuree. Premium payments can either be paid in a lump sum at the start of the policy or throughout the years. In terms of death benefits, you can choose to have them remain level throughout the policy or increase or decrease over the years.