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Teacher. Chef. Barber. Parent. You’re wearing more hats than ever before, but one thing you don’t have to figure out alone is your insurance. Our advisors are working from home and ready to help—whether you want to review your current coverage, you need protection or you just have a simple question.
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Questions an Advisor Can Help You Answer
You work hard to take care of your family. Life insurance lets you keep doing just that, even if you were to pass away. A good time to buy life insurance is when you’re starting a family, buying a home or taking on another sizable debt that you want your partner to be able to afford no matter what.
Having life insurance coverage means your partner, child or other beneficiaries will have financial resources they can use towards the cost of childcare, bills and more.
If you have someone who counts on you for financial support, get in touch with us today and we’ll help you find the right coverage!
The answer to this question is unique for everyone, so the best resource to help you figure this out is a licensed RBC Insurance advisor. However, here are a few things to consider:
- Think about each person who depends on you and how long they might need financial support.
- Add up what it would cost to settle all your debts, such as your mortgage, car loan or credit card bills.
- If you have group coverage through work or mortgage life insurance, you may be able to subtract these amounts from what you need to buy.
- If you have savings or investments that aren’t earmarked for other goals, you may be able to subtract these amounts from what you need to buy.
Contact us today and we’ll help make sure you have enough coverage to protect your family.
Life insurance is typically very affordable, but the price you will pay can be very different from what someone else might pay. That’s because premiums are based on a number of things, including the type of life insurance you buy, how long you want coverage for, and other factors that are unique to each person.
A licensed RBC Insurance advisor can explain your options and help you choose the right coverage based on your needs and budget.
In many cases, buying life insurance can be very easy, but how you can purchase it depends on the type of coverage you want. For help making the best decision for your family, talk to a licensed RBC Insurance advisor—he or she can provide invaluable guidance and will even help you complete your application.
Disability insurance helps to replace a portion of your paycheque if you become sick or injured and cannot work.
Many of our plans also provide return to work benefits such as rehabilitation, job retraining and other services to help you get back to work.
Get in touch with us today and we’ll help make sure you have the right disability coverage to protect your income.
While the Canada Pension Plan (CPP) and Quebec Pension Plan (QPP) do include disability coverage, there are considerable limitations to the benefits provided by these plans.
- For January 2020, the average monthly CPP disability benefit for new beneficiaries was $1,010.26.1 And for 2020, the maximum monthly benefit is $1,387.66.1 This is much less than what you could receive through one of our disability insurance plans. For example, through The Professional Series® policy, some individuals can qualify for as much as $25,000 per month.
- To qualify for the CPP disability benefit, you must also have a severe and prolonged mental or physical disability and be unable to work at all.2 With a disability insurance plan from RBC Insurance, you may be able to receive benefits under a less stringent definition of disability.
Contact us today and we’ll help make sure you have the right disability coverage to protect your income.
We recommend that you examine your work policy carefully and know what it covers. Typically, an employer-sponsored plan will end when your employment ends. One of the advantages of a disability insurance policy from RBC Insurance is that you can take it with you if you leave your job.
Here are some things to look at for your employer-sponsored plan:
- How much of your income does your employer-sponsored disability plan replace? Will you be caught short?
- Are you covered for illness as well as injury?
- Are you only covered for accidents on the job, or are you protected 24/7?
- Does your plan provide return to work services?
- How does your plan define a disability?
Get in touch with us today and we’ll help make sure you have the right disability coverage to protect your paycheque.
The answer to this question is unique for everyone, so the best resource to help you figure it out is a licensed RBC Insurance advisor. However, here are a few things to consider:
- Your disability benefits should allow you and your family to continue to live comfortably.
- Total up your monthly "fixed living expenses" such as food, housing, transportation, utilities and other miscellaneous expenses.
- Subtract from that amount any income you'll receive from other sources during a disability—for example, from investments you may have, property you rent out and other disability insurance coverage.
- The amount by which your expenses exceed income during disability is the amount you need. Keep in mind, though, that any disability insurance plan will only replace a portion of your income
Get in touch with us today and we’ll make sure you have the right coverage to help protect your paycheque.