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Our Term 10 and Term 20 Life Insurance policies are ideal for anyone who needs higher coverage amounts than those offered by RBC Simplified® Term Life Insurance.
You are on: Benefits
If you want affordable life insurance to help protect your family, but need substantial coverage or the option to purchase additional benefits such as a waiver of premium in case of disability, consider our Term 10 or Term 20 Life Insurance.
The information above is intended as a summary only. Please see a sample policy for complete details on terms and conditions, including benefits and exclusions.
You are on: Optional Benefits
You may purchase this additional coverage for your Term 10 or Term 20 Life Insurance policy:
The information above is intended as a summary only. Please see a sample policy for complete details on rider and optional coverage terms and conditions, including benefits and exclusions.
You are on: Eligibility
You are eligible to apply for Term 10 or Term 20 life insurance coverage if you are:
Your coverage ends on the earlier of:
Please contact us or see a sample policy for complete details.
You are on: What's Covered
If you die during the time period when coverage is in effect, your policy will provide a tax-free(2) death benefit for the amount of coverage that you purchased to your beneficiaries or your estate.
Your coverage is subject to the following exclusions:
You are on: Premiums
Your premium will depend on your age, gender, health, family history, smoking habits, the benefit coverage amount, and any additional options you choose.
If you are approved for coverage, your policy will contain a premium schedule that will show all premiums payable, including the renewal premiums. Your coverage begins on approval and once payment is received. Please contact us or see a sample policy for complete details.
Your premiums are guaranteed to stay the same for the entire 10- or 20-year term of your policy. After that, if you choose to renew your policy for another 10 or 20 years, you will continue to pay guaranteed premiums based on your renewal premiums. As long as you continue to pay your premiums, your coverage can continue at these rates, up to the policy anniversary nearest your 80th birthday, at which time coverage terminates.
You may pay for your policy on a monthly or annual basis.
Start your quote or call us today to apply for the life insurance protection your family needs.
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1) You may apply for Term Life Insurance if you are between the ages of 18 and 70 (Term 10) or 18 and 60 (Term 20) and are a Canadian citizen or permanent resident/landed immigrant who has been in Canada for more than 12 months.
2) Note that probate fees are applicable if you have not designated a beneficiary and the proceeds of your policy become part of your estate.
3) Exchange must occur prior to the earlier of your 5th policy anniversary and the policy anniversary nearest your 60th birthday or if the plan is a joint first to die plan, the exchange must occur prior to the 60th birthday of the oldest life insured.
4) Must be done before age 71. Subject to certain terms and conditions. Please contact us for complete details.
5) To qualify for a compassionate advance, you must provide written confirmation from your physician outlining your diagnosis and confirming that life expectancy is less than 24 months. Term policies are reviewed on an individual basis and policies that have an irrevocable beneficiary require release from the assignee or beneficiary.
6) The information above is intended as a summary only. Please see a sample policy for complete details on terms and conditions, including benefits and exclusions.
See how affordable a term life insurance policy can be by getting an online quote.
Talk to a licensed RBC Insurance® advisor today about protecting your family with term life insurance.