The death benefit guarantee amount* will be the greater of 100% of the market value on date of death; or
100% of the deposit value for deposits made before age 80 plus 80% of the deposit value for deposits made after age 80; or
100% of the last 10-year maturity rollover or optional annual reset amount for deposits made before age 80 (80% for deposits made after age 80).
Overview of optional resets
Optional resets. These are available once per calendar year with RBC Insurance Guaranteed Investment Funds Series 2 only. (only until the contractholder** attains age 90).
Note: Automatic resets occur at the 10-year deposit maturity date (including a top-up payment, if required) to renew the maturity guarantee and the death benefit guarantees.
*The maturity and death benefit guarantee amounts will be reduced proportionately for all withdrawals and fees.
**Contractholder refers to the owner of the contract and may be different from the annuitant for non-registered contracts. Annuitant refers to the person on whose life the guarantees and annuity payments are based.
Any amount that is allocated to a segregated fund is invested at the risk of the contractholder and may increase or decrease in value. RBC Insurance Guaranteed Investment Funds are segregated funds and are referred to as individual variable annuity contracts. RBC Life Insurance Company is the sole issuer and guarantor of the guarantee provisions contained in these contracts. The underlying mutual funds available in these contracts are managed by RBC Asset Management Inc. and the portfolios are managed by RBC Life Insurance Company. When clients deposit money in an RBC Insurance Guaranteed Investment Funds contract, they are not buying units of the RBC Asset Management Inc. mutual fund or the underlying investments in the portfolio and therefore do not possess any of the rights and privileges of the unitholders of such funds.
