The Foundation Series Disability Insurance

You are on: Benefits

With The Foundation Series policy from RBC Insurance^®, you’ll have long-term disability income protection if you are unable to work because of illness or injury⁽¹⁾. This policy also provides customized return to work benefits, plus guaranteed premiums to age 65.

The plan offers the following key benefits:

• Total disability benefits: You will receive a specified monthly benefit if illness or injury completely prevents you from working⁽¹⁾. (See What's Covered for details.)
• Non-cancellable to age 65: We cannot change the policy or premiums, or cancel the policy without your consent, up until you turn age 65. (Rates and benefit periods are subject to change after age 65.)
• Return to work assistance benefit: This benefit pays for services such as rehabilitation, work-site modifications and more to help you get back to your job.
• Your choice of premiums: Select guaranteed level premiums until age 65 or, if you are 35 years or younger, step rate premiums, which allow you to pay less while you’re getting your business or career off the ground.
• Your choice of benefit periods: You decide the maximum period during which benefits may be paid to you: two years, five years, 10 years (for certain occupations only), or to age 65.
• Long-term care conversion option: From ages 55 to 65, you can convert all or a portion of your disability insurance coverage (up to $6,000 per month) to an equivalent amount of long-term care coverage, without having to provide evidence of good health⁽²⁾.
• Health Care Profession rider: If you are a qualified health care professional, we require that you add this rider at no cost to you. If you become HIV-impaired or hepatitis-impaired and, due to your impairment, you meet one of the conditions of the rider, you will be considered disabled. (We reserve the right to charge premiums in the future.)
• Portability: You can keep your policy even if you change jobs.

You may also choose from a range of optional benefits.

The information above is intended as a summary only. Your policy will contain complete details on terms and conditions, including benefits and exclusions.

For more information:

• Compare Disability Insurance Plans
• Disability Income Protection Insurance FAQs

You are on: Optional Benefits

Optional Coverage for Even More Protection

With The Foundation Series policy, you can add this optional coverage:

• Additional monthly benefits: Depending on your particular needs, you may be eligible to add more coverage to your base coverage.
• Enhanced definition of disability benefit: Extend the regular occupation definition of disability from 24 months to the end of the benefit period. This ensures that you receive full benefits if you can't work in your regular occupation, provided you are not engaged in any gainful occupation and are receiving a physician's care.
• Partial disability benefit: Receive a portion of your total disability benefit if you are partially disabled, as defined by the policy.
• Future Income option: To keep pace with your rising income, you may be eligible to purchase additional coverage on each policy anniversary date, up to age 55, without having to prove your health status.
• Cost of Living benefit: While you are disabled, our Cost of Living benefit protects you against inflation by ensuring that your monthly disability benefit is adjusted by the change in the Consumer Price Index (CPI), subject to limits.
• Retirement Protector rider: The Retirement Protector rider helps you maintain deposits to a retirement savings plan (RSP) while you are totally disabled.
• First Day of Hospitalization benefit: We will waive the waiting period for total disability as long as you satisfy the definition of total disability and have been hospitalized for 72 consecutive hours. This ensures payment of the total disability benefit from the first day of hospitalization. (See What's Covered for details.)
• Accidental Death and Dismemberment benefit: If you sustain an accidental injury as outlined in your policy, or if you die as a result of an accident, you or your beneficiaries receive a specified benefit based on the type of injury.

The information above is intended as a summary only. Your policy will contain complete details on rider and optional coverage terms and conditions, including benefits and exclusions.

You are on: Eligibility

Eligibility Requirements

You are eligible to apply for The Foundation Series policy if you:

• Are between the ages of 18 and 60, and
• Are a Canadian citizen or permanent resident/landed immigrant

The Foundation Series policy is typically ideal for:

• Small business owners or managers
• Trades people (plumbers, electricians, etc.)
• Middle-income earners (office workers or sales people)
• Self-employed farmers

You are on: What's Covered

Coverage Details

With The Foundation Series policy, disability income protection and return to work benefits are payable under the following conditions:

Income Protection Benefits

Return to Work Assistance Benefits

Survivor Benefits

Integration of Benefits

Elimination Period

Summary of Exclusions*

You are on: Premiums

About Your Premiums

The premiums you pay will depend on your age, gender, smoking habits, occupation and options that you choose (for example, the amount of benefit purchased, the elimination period and maximum benefit period you select), and other underwriting guidelines.

The Foundation Series policy offers two premium options:

• Level premiums guaranteed to age 65 (we cannot change your premiums)
• Step rate premiums, which are available to those 35 and younger. By choosing step rate premiums, you’ll pay less while you’re getting your business or career off the ground. Step rate premiums are also guaranteed to age 65.

Pay no premiums while you’re collecting benefits

Your disability income protection insurance includes a Waiver of Premium benefit. This means that after 90 days of becoming disabled, you pay no premiums at all while you’re disabled. Plus, RBC Insurance will refund the premiums you paid during those first 90 days.

Renewing your policy

The Foundation Series policy is non-cancellable to age 65. After that, it is renewable for life if your premiums are paid as required. Rates and benefit periods are subject to change after age 65.

Your renewal options after age 65 are:

• Up to age 75 and while employed full-time in a gainful occupation, you may continue the policy with a total disability benefit only with a maximum benefit period of 24 months. After age 75, the maximum benefit period is 12 months.
• If not employed full-time, you may elect a $100 per day benefit payable while confined to a hospital. The maximum benefit period for hospitalization is six months.