You are on: Coverage and Benefits
If you're between the ages of 50 and 75 and a Canadian Citizen or Permanent Resident, RBC Guaranteed Acceptance Life Insurance makes it easy to leave a loved one something special to remember you by. Use it to help provide extra financial security to your spouse, to contribute towards your grandchildren's education, or to help relieve the financial burden of final expenses.
Key Features and Benefits:
With RBC Insurance® you can feel confident that we have the strength, stability and expertise to be there when you or your loved ones need us.
We're the largest group of insurance companies owned by a bank in Canada. What's more, we’re part of RBC, one of Canada’s largest and most trusted companies and an institution whose history stretches back 150 years.
You are on: Questions?
Here are answers to the most common questions asked about RBC® Guaranteed Acceptance Life Insurance.
You can apply for RBC® Guaranteed Acceptance Life Insurance (ages 50-75) using any of the following options:
You are eligible for RBC Guaranteed Acceptance Life Insurance if you:
Note: Acceptance is guaranteed as long as you meet the eligibility requirements above.
No, there is no medical exam required, and you will not be asked any questions about your health when you apply.
Yes, provided that you request the cancellation in writing. In addition, you have 30 days to review your policy, during which time you may cancel the coverage and receive a full refund of all premiums paid. Any time after that, you can cancel your insurance and you only pay the premium for the time you were covered.
Yes, this policy provides lifetime coverage with guaranteed premiums.
For the first two years, coverage is limited to the premiums you've paid to date. After two years, coverage is in effect for life and will not decrease. Premium payments end at age 95, but you are covered for life.2
Upon your death, we will make a tax-free payment to your beneficiary or estate. (Note that probate fees are applicable if you have not designated a beneficiary and the proceeds of your policy become part of your estate.)
Coverage is effective the date you apply for coverage provided we receive the initial premium payment (and if applying by mail, that the application is received by us within 15 days from the date the application is signed). Please contact us or see a sample policy for complete details.
Your coverage ends on the earliest of:
Coverage cannot be increased. However, you may request that we reduce your coverage at any time, provided all premiums are paid to the effective date of the reduction.
Yes, as long as your spouse is between age 50 and 75 and a Canadian Citizen or Permanent Resident/landed immigrant who has been in Canada for more than 12 months.
Please see a sample policy for complete terms and conditions, including benefits and exclusions.
Preferred rates do not apply to RBC Guaranteed Acceptance Life Insurance. Premiums are based on your age, gender, coverage amount and smoker status.
Yes, your rates are guaranteed for life as long as you continue to pay your premiums on time.
You will pay premiums until you reach age 95, but your coverage will continue for life.
Underwritten by RBC Life Insurance Company.