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If you lost your ability to earn an income, you could also lose the lifestyle you’ve created. An accident or serious illness can happen when you least expect it, leaving you unable to work and earn money. Your provincial health plan can help with the medical bills. But to replace lost income, you need disability insurance.
You are on: Overview
The lifestyle you enjoy, your children’s college education, and your retirement savings all depend on your ability to earn a living. If you suddenly had less money coming in—plus additional money going out to cover bills related to your disability—where would the money come from to replace your lost income?
Even if you already have disability insurance through your employer, it may not be enough. Plus, if you change jobs, your employer-sponsored disability insurance will most likely end with your employment. What's more, disability benefits under the Canada Pension Plan (CPP) and Quebec Pension Plan (QPP) limit the benefits you can receive.
Also consider the probability of incurring a 90-day or longer total disability prior to age 65(1) (see chart below). When a disability lasts longer than 90 days, the length of that disability averages between 2.1 and 3.2 years for those age 55 and younger(2).
When you imagine life without your income—and the odds of becoming disabled at some point in life—disability insurance makes sense.
RBC Insurance offers several different plans that can help you preserve your income if you become disabled. We’ve designed them to offer a range of benefit and premium options to suit your occupation, income level and other factors.
You are on: Plan Choices
You are on: The Professional Series® policy
A disability insurance plan for high-income earners
The Professional Series policy provides long-term disability coverage to help protect you if you become unable to work due to illness or injury(3).
The Professional Series policy is ideal if you are age 18 through 60 and:
The Professional Series policy offers:
You are on: The Foundation Series™ policy
Total disability income protection for a wide range of occupations
The Foundation Series policy provides long-term total disability income protection if you are unable to work due to injury or illness(3).
The Foundations Series policy is ideal if you are age 18 through 60 and a:
The Foundation Series policy offers:
You are on: Bridge Series® policy
Affordable total disability protection with level premiums and numerous options
Our Bridge Series policy provides an affordable level of long-term total disability income protection if you are unable to work due to injury or illness(3).
The Bridge Series policy is ideal if you are age 18 through 60 and a:
The Bridge Series policy offers:
You are on: The Fundamental Series™ policy
A disability insurance plan for the self-employed, contract workers and employees without group disability coverage
The Fundamental Series™ disability income protection product is different from traditional disability offerings. Your acceptance is guaranteed for injury-only coverage upon satisfying a few simple qualifying statements, and you have the option to purchase illness coverage as well.
The Fundamental Series policy is ideal if you are age 18 through 64* and are:
*Note: You can apply for injury-only coverage if you are age 18-69. To apply for illness coverage, you must be age 18-64.
The Fundamental Series policy offers:
You are on: RBC Simplified® Disability Insurance
A disability insurance plan that’s affordable and easy to purchase
With RBC Simplified® Disability Insurance you can help protect your income in the event of an injury and/or illness with very affordable coverage that's easy to understand and simple to purchase.
RBC Simplified Disability Insurance is ideal if you are age 18 through 55 and:
RBC Simplified Disability Insurance offers:
You are on: Retirement Protector policy
Keep saving for retirement even if you can't work
Our Retirement Protector policy is a unique plan that helps you continue saving for retirement in the event of total disability. While available as a stand-alone policy, it is also the perfect complement to one of our other disability insurance policies.
The Retirement Protector policy is ideal if you are age 18 through 55 and are:
The Retirement Protector policy offers:
You are on: Return to Work Benefits
When you can get back to work after a disability, it’s good for your physical, emotional and financial well-being. That’s why many of our disability insurance plans provide return to work benefits. With these benefits, you can receive financial help, as well as rehabilitation, job retraining and other services to assist you in your transition back to the workplace.
Return to work assistance can start as early as the first day of your disability. We may provide help in returning you to work or enhancing your ability to work. Our assistance can include such services as:
See how we helped three clients return to work.
In addition, we may provide job or work-site modifications to accommodate your needs. This could include such things as:
Note: Availability, details and limits of return to work assistance benefits vary by insurance plan. Return to work benefits are not available with RBC Simplified® Disability Insurance. Contact an RBC Insurance® advisor for complete details.
You are on: FAQs
Below are answers to the most common questions asked about our disability insurance plans. Don't see your question? Call 1-866-262-7920 to talk with an RBC Insurance® advisor.
Your most valuable asset is your ability to earn an income. Disability insurance can help protect the lifestyle your income affords—and provide valuable services to help you return to work. Call today to apply or to discuss your needs with a licensed RBC Insurance® advisor.
1) 1985 Commissioners Individual Disability Table A
2) 1985 Commissioners Individual Disability Table A: If the disability lasts longer than 90 days, the average length will be: 2.1 years for age 25, 2.5 years for age 30, 2.8 years for age 35, 3.1 years for age 40, 3.2 years for age 45, 3.1 years for age 50, 2.6 years for age 55, 1.6 years for age 60.
3) Certain conditions must be met for benefits to be payable. Your policy will provide complete details.
4) Provided you satisfy the pre-qualifying questions.
5) Service Canada, http://www.servicecanada.gc.ca/eng/isp/cpp/cpptoc.shtml
6) If you are self-employed, income means your share (proportionate to your ownership interest) of the income or loss of the business net of all business expenses except income taxes. If you are an incorporated business owner, you may also include any wages, salary, fees or commissions which the incorporated business paid to you as an employee of the business.
Need basic disability insurance? Want to top-up your group coverage? Get a quick quote for RBC Simplified® Disability Insurance!