RBC Life Insurance Review, Quote, Contact: Updated 2024

RBC Life Insurance offers a comprehensive range of plans designed to protect your loved ones and help secure your financial future. Whether you're looking for affordable RBC term life insurance or a more sophisticated permanent life insurance policy with investment growth, RBC provides flexible solutions to meet a wide range of needs.

With coverage options up to $25 million and the ability to convert term policies into permanent coverage without medical exams, RBC Life Insurance policy is a great choice. But is it the right choice for you?

In this RBC Life Insurance review, we explore the various plans it offers, the cost, how to contact RBC, claims, and cancellations. Get personalized and free RBC life insurance quotes with our online tool and compare them with Canada's top providers in no time.

Our RBC Life Insurance Review: Best option for comprehensive coverage

RBC Life Insurance offers a wide range of flexible policies, from simplified RBC term life insurance with no medical exam to permanent whole life and universal life options, catering to various needs. Coverage amounts range from $50,000 to $25 million, making it suitable for individuals at different life stages, whether you're starting out or planning long-term financial security.

Convert your RBC term life insurance policies into permanent coverage without medical evidence up to age 71, providing flexibility as needs change. The RBC Simplified Term Life Insurance is perfect for those seeking affordable, hassle-free coverage. With flexible term lengths (10 to 40 years) and easy policy exchanges, RBC offers more convenience compared to competitors like Manulife.

RBC’s affordable premiums start as low as $12.22 per month, making it great for younger, healthier individuals. The added accidental death benefit offers extra protection.

Among its permanent life insurance options is the RBC Guaranteed Acceptance Life Insurance which offers coverage from $5,000 to $40,000 with no medical exam or health questions, available for Canadian residents aged 40-75. It includes an accidental death benefit and may offer an advanced death benefit. This policy is ideal for those seeking simple coverage to cover final expenses or small debts.

For those seeking long-term coverage with financial growth, permanent lifetime coverage options, like RBC Growth Insurance and RBC Universal Life Insurance (coverage up to $25,000,000), offer dividends and tax-deferred investment growth with multiple options for investments. RBC Life Insurance Company offers world-class asset management with a dedicated team to support you.

While RBC excels in permanent life insurance, it may be more expensive than other providers like Sun Life, which offers more affordable whole life plans. The cost can be a concern for older individuals, especially those in their 50s or 60s, who may find the premiums for RBC's permanent policies to be on the higher end.

Additionally, RBC lacks an online claims submission system, unlike some competitors with faster processes like PolicyMe Life Insurance which lets you handle the policy entirely online from purchase to claims. Overall, RBC Life Insurance is a strong choice for flexible, comprehensive coverage but may not be the most cost-effective option for older individuals or those on a tighter budget.

Before you decide to settle on RBC, it's important to weigh the pricing and premiums of other providers. You can do this by using our comparator below that lets you get free and personalized quotes based on your unique needs, from Canada's best life insurance providers. You can get over 20 quotes in just a few moments.

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How much does RBC life insurance cost?

RBC life insurance costs are typically just $21.43 a month for $700,000 coverage. Here are the latest RBC life insurance quotes for term life coverage for different profiles that we obtained on Dec 10, 2024.

Gender	Age	Smoking Status	Coverage Amount	Term length	Rate
Female	28	Non-smoker	$50,000	15 years	$9.72/month
Male	35	Non-smoker	$50,000	30 years	$19.00/month
Female	44	Non-smoker	$750,000	20 years	$67.25/month

While your exact premiums might be different, here are typical RBC term life insurance quotes for a 20-year policy and a $250,000 death benefit for healthy, non-smoking individuals.

Age	Female	Male
25	$14.20	$18.34
30	$15.03	$18.95
35	$17.42	$22.05
40	$23.45	$30.56
45	$35.73	$49.39
50	$56.03	$79.36
55	$97.18	$140.87
60	$173.14	$247.88

The cost of your life insurance RBC policy or otherwise typically depends on:

• Your age
• Gender
• Smoking Status
• Health Condition
• Coverage + add-ons

As a rule of thumb, older men will typically have the most expensive premiums while young women will have the lowest life insurance costs. Similarly, more complex products such as whole-life coverage will cost more than simpler policy types such as term-life coverage options. Wondering how much your premium would be? You can get a free quote right here using our free RBC partner link.

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What does RBC life insurance offer?

RBC offers two term life insurance policies and four permanent life insurance policies to suit the diverse needs of Canadians.

Type	Product Name	Coverage	Term Length	Key Features
Term Life Insurance	RBC Simplified® Term Life Insurance	$50,000 – $1,000,000	10 years	Quick online application No medical exam required Convert to permanent insurance without medical exam until age 71
	RBC YourTerm® Life Insurance	$1,000,001 – $25,000,000	10 to 40 years	Change to permanent life insurance without medical evidence, up to age 71 Customizable coverage Accidental death benefit
Permanent Life Insurance	RBC Growth Insurance® (Participating Whole Life)	$25,000 to $25,000,000	Lifetime	Lifetime protection Dividend options
	RBC Guaranteed Acceptance Life Insurance	$5,000 – $40,000	Lifetime	No medical exam Guaranteed acceptance
	Term 100 Life Insurance	$50,000 to $25,000,000	Lifetime	Guaranteed premiums Add-ons for additional coverage
	RBC Universal Life™ Insurance	$50,000 to $25,000,000	Lifetime	Flexible premiums Tax-deferred investment growth
Personal Accident Insurance (Add-on)	Personal Accident Insurance	$50,000 – $250,000	Short-term	Affordable premiums No medical exam required

What does RBC Term Life Insurance offer?

RBC offers two impressive term life policy options: RBC Simplified® Term Life Insurance and RBC YourTerm™ Life Insurance. Both of these policies are designed to offer policyholders protection for shorter periods and are more affordable than other types of insurance. They are great for younger individuals, newlyweds and those just starting out with their careers.

RBC Simplified Term Life Insurance

RBC Simplified® Term Life Insurance is available to Canadian residents aged 18-70 and is often referred to as RBC no medical life insurance since it can be bought and accepted online without the need for a medical exam.

Key features include:

• Guaranteed premiums
• Variable term length from 10-40 years and anything in between
• No medical exam required* (depending on answers to qualifying questions)
• Coverage from $50,000-$1,000,000 for ages 18-55
• Coverage from $50,000-$499,999 for ages 56+
• Option to convert to permanent life insurance prior to age 71 without medical exam
• Includes a $10,000 accidental death benefit

RBC YourTerm™ Life Insurance

This plan has been developed for those looking for more extensive cover and who want complete flexibility concerning term lengths. With RBC YourTerm™ Life you can choose from the standard 10, 15, 20 or 40-year term lengths, or any in between. The policy is available to any Canadian residents aged between 18-70 years old.

Key features include:

• Guaranteed premiums
• Variable term length from 10-40 years and anything in between
• Coverage from $1,000,001-$25,000,000 for ages 18-55
• Coverage from $500,000-$25,000,000 for ages 56+
• Option to convert a 10-year term policy to 15, 20 or 30 term policy with no medical questions
• Option to convert to permanent life insurance without medical evidence, up to age 71

You can get a free RBC term life insurance quote using our partner link below.

What does RBC Permanent Life Insurance cover?

There are four RBC permanent life insurance options: Growth Insurance™, Guaranteed Acceptance Life Insurance™ and Term 100 Life Insurance. All of these products are designed to give you lifelong cover and offer protection beyond your working life. Since they last longer than RBC term life insurance policies, they often come at a higher cost.

RBC Growth Insurance™ (Participating RBC Whole Life Insurance)

RBC Growth Insurance™ is a participating whole life coverage product that builds cash value while providing you with a lifelong death benefit. This means that a portion of your premiums is invested which gives the potential for dividends that may be paid to the policyholder. This RBC whole life insurance policy also comes with three payment options which let the insured decide how they wish to pay their premiums.

Key features include:

• Life Pay: guaranteed premiums on base coverage for life, or up to the age 100
• 10 Pay: guaranteed premiums on base coverage for 10 years
• 20 Pay: guaranteed premiums on base coverage for 20 years
• Coverage from $25,000-$25,000,000
• Dividend options can potentially provide cash payouts to the policyholder
• Access to accumulated cash value from 5 years (or 1 year with RBC Growth Insurance™ Plus)
• Available to individuals aged 0-80

You can get a free RBC whole life insurance quote using our partner link below.

RBC Guaranteed Acceptance Life Insurance

The RBC Guaranteed Acceptance Life Insurance™ (also referred to as just RBC guaranteed life insurance) policy offers coverage to individuals aged 40-75 years old without the need for a medical exam. Due to this, the RBC no medical policy is an ideal solution for those who are struggling to find coverage because of health issues.

The key aspects are:

• Guaranteed premiums
• Premium payments stop at 95
• Permanent life-long coverage
• No medical exam needed
• Coverage from $5,000-$40,000
• Guaranteed coverage for Canadian residents aged 45-70
• Accidental death benefit included

RBC Term 100 Life Insurance

Simple and straightforward, the Term 100 policy from the company provides lifetime coverage with guaranteed premiums. It is available to Canadian residents aged 18-85 and applicants will most likely have to complete a medical exam to get insured.

Key features include:

• Guaranteed premiums up to age 100
• Your premiums are guaranteed to stay the same for life
• Premiums cease after 100 but coverage continues
• Coverage from $50,000-$25,000,000
• Available to Canadian residents aged 18-85
• Multiple add-ons available including Children’s Term Rider, Total Disability Waiver of Premium Benefit Rider, and more

What does RBC Universal Life Insurance cover?

RBC Universal Life™ Insurance is a long-term solution that offers lifelong protection and tax-effective investing to protect and grow your assets. With a universal life insurance policy a portion of your premiums will pay for the life insurance while the rest is invested into a variety of funds of your choice.

Key features are:

• Flexible premium payments
• Lifetime coverage
• Coverage from $50,000-$25,000,000
• Tax-advantaged investing for a portion of your premiums
• Flexible investment portfolio of your choosing
• Available to Canadian residents aged 0-85
• Healthy non-smokers with a positive family history can qualify for a discount

What does RBC Personal Accident Insurance cover?

The company also offers a personal accident life insurance policy for individuals who want to supplement their insurance. It is a policy designed to specifically cover sudden death as a result of an accident and is available to RBC customers that are Canadian residents and aged between 18-69.

Key aspects are:

• Guaranteed and cost-effective premiums
• Guaranteed acceptance and coverage with no medical exam requirement
• Coverage available from $50,000-$250,000
• Designed to supplement existing life insurance
• Covered until age 80

How to get an RBC life insurance quote?

You can get a free quote from RBC Life Insurance using our special partner link below. You can get quotes for all RBC life policies through HelloSafe.

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RBC life insurance quotes are also available through the company's official website. It should be noted, however, that online quotes are only available for term life products as well as for the Guaranteed Acceptance policy. For whole-life policy quotes, you will have to speak directly to an advisor by reaching out through one of the contact numbers below.

You will be required to fill out appropriate policy forms to enrol and this will be provided by the advisor. Additionally, while getting quotes, you can easily access a side-by-side comparison of their available plans, enabling you to make an informed decision that suits your specific needs.

We strongly recommend that you compare RBC with other providers before making a decision. You can use our comparator below to compare coverages, pricing, and even get free personalized quotes from Canada's best life insurance companies, and in just a few seconds.

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How do I contact RBC Life Insurance Canada?

RBC life insurance contact numbers and details can be found in the table below. It should be noted that the contacts are specific to the type of policy you are looking for.

RBC Life Insurance Customer Service	Contact Details
RBC life insurance phone number (For General queries)	1-888-821-3391
RBC Term life insurance	1-844-337-7834
RBC Permanent life insurance	1-888-919-1138
RBC Guaranteed Acceptance Life Insurance	1-888-901-5416
Mailing address	RBC Insurance6880 Financial Drive Mississauga, ONL5N 7Y5

If you're looking for coverage, you can also request a call from an advisor directly upon completing a contact form on the website to start an RBC life insurance application.

If you have a problem enrolling on the company website or any other login or sign-in issues, you could call this RBC insurance number 1-888-769-2545. A representative will get in touch with you and assist you in the process. There might be a slight delay in the response or an increased waiting time during periods of high volume of requests.

How to use my RBC life insurance login?

RBC Insurance has a membership portal available to all clients which can be accessed via their website. The RBC life insurance login lets policyholders manage their policies in one place while keeping all their information securely stored.

For support from an advisor, you would have to look for the RBC life insurance advisor login and you'll have an option to sign up for an advisor to help meet your financial goals.

The login allows you to:

• Change your RBC life insurance contact phone number
• Update your mailing address
• Change email address for login
• Update email address for important insurance notifications
• Change your mobile number used for verification purposes
• Access RBC life insurance beneficiary change form
• Information on RBC life insurance cancellation

How much life insurance do I need? Use the RBC Life Insurance Calculator

Figuring out how much life insurance you need is not the easiest thing to do. Not only do you have to consider all your financial responsibilities, but you have to identify how much of an impact your loss would have financially. That's why there is a dedicated RBC life insurance calculator on the company website that has been rated positively by many customers.

It can be used to quickly and accurately figure out how much life insurance you might need after considering different factors like your investments, salary, debts if any, other insurance policies, and any other commitments.

You can also alternatively use our HelloSafe life insurance calculator that's very simple to use and takes all the stress away from entering multiple levels of information. It's easy, direct, quick, and tells you exactly how much coverage you need.

Tips to calculate life insurance coverage

When using the RBC life insurance calculator or the HelloSafe one, keep these key considerations in mind:

1. Evaluate Financial Obligations: Take stock of current and future expenses, such as mortgage, childcare costs, or your child’s college tuition. Ensure the coverage can replace your income for the years your family might need it most.
2. Consider Existing Assets: Review your savings and investments. For instance, if you already have $100,000 in savings, you might not need to account for the entire cost of future expenses in your insurance coverage, reducing your premium.
3. Align Term Length with Responsibilities: Match the policy term to your key financial commitments. If you have 20 years left on a mortgage or your youngest child will be financially independent in 18 years, a 20-year term policy might be ideal.
4. Adjust for Inflation and Premium Factors: Account for the rising cost of living. For example, $50,000 today may not cover college expenses 15 years from now. Additionally, your health and lifestyle, such as being a smoker or having a pre-existing condition, could influence your premiums.

Using these steps ensures that your life insurance coverage is both sufficient and cost-effective.

How do you file an RBC Life Insurance claim?

As soon as possible after the insured person's passing, contact the company to inform them of the situation. You can do this by calling their customer service or claims department. They will guide you through the next steps and provide you with the necessary information and forms.

They will likely request various documents to process the claim. These may include:

• Death certificate: Obtain an official copy of the death certificate.
• Policy information: Provide details of the policy, including the unique RBC life insurance number in your policy and the insured person's name.
• Claimant information: If you're not the policyholder, provide your information as the claimant/beneficiary.
• Medical records (if applicable): If the cause of death requires additional documentation, such as medical records, provide them.

An advisor from the RBC Life Insurance Company will provide you with the necessary claim forms. These forms might be available online or can be sent to you via email or regular mail based on the type of your policy and coverage. Fill out the forms accurately, providing all required information.

Send the completed claim forms along with the required documentation to RBC Insurance. This can usually be done through various methods, such as online submission, email, fax, or mailing a physical copy.

If the claim is approved, RBC will provide you with the settlement amount according to the terms of the policy. This could be a lump sum payment or paid out in installments, depending on the policy.

How do I cancel my RBC life insurance policy?

You can cancel your RBC life insurance policy anytime. You need to submit a written request to initiate the cancellation. The process can be initiated under the following steps based on your premium payment frequency:

1. For Monthly Premiums:
   • If the last monthly premium was paid by its due date, the cancellation will take effect the next Monthly Processing Day after RBC receives your written request.
   • If the last premium was unpaid by its due date, the cancellation takes effect when RBC receives your written request.
2. For Annual Premiums:
   • If your premium is annual, the cancellation will be processed on the Monthly Processing Day following the date RBC receives your written request. In this case, you will receive a refund for the unused portion of your annual premium.

Make sure your written request clearly indicates that you wish to cancel the policy and be aware that taxes or surrender charges may apply, especially for whole-life and universal policies.