Retirement Protector Disability Insurance

You are on: Benefits

The Retirement Protector policy is a perfect companion policy to one of our other disability income protection insurance plans. If you suffer a total disability, the policy will continue making contributions to your retirement savings plan (RSP).

The plan offers the following key benefits:

• Retirement contributions: If an injury or illness prevents you from working, the policy will continue making contributions to your RSP⁽¹⁾. (See What's Covered for details.)
• Non-cancellable and guaranteed continuable to age 65: We cannot cancel the policy without your consent, up until you turn age 65.
• Rehabilitation: If you choose to enter a vocational rehabilitation program that we approve, we will waive the requirement of total disability and we will participate in the cost of the program, subject to the terms of the policy.
• Benefit periods: Depending on your occupation, the maximum period during which benefits may be paid to you will be either 10 years or to age 65.
• 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.

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:

• Disability Income Protection Insurance FAQs

You are on: Eligibility

Eligibility Requirements

You are eligible to apply for the Retirement Protector policy if you:

• Are between the ages of 18 and 55, and
• Are a Canadian citizen or permanent resident/landed immigrant

The Retirement Protector policy is ideal for:

• Individuals who are making contributions toward a retirement savings plan
• Self-employed individuals without access to a company pension plan

You are on: What's Covered

Coverage Details

With the Retirement Protector policy, retirement savings benefits are payable under the following conditions:

Retirement Savings Contributions

Elimination Period

Summary of Exclusions*

You are on: Premiums

About Your Premiums

Your premiums will depend on your age, health, occupation and other RBC Insurance underwriting guidelines.

Pay no premiums while you’re collecting benefits

The Retirement Protector policy 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.