How do i find a life insurance policy. Permanent Life Insurance - RBC Insurance

Types of Permanent Insurance

Guaranteed Acceptance Life Insurance Permanent life insurance.

Offers up to $40,000 of guaranteed coverage for Canadians from age 40 to age 75.

If you’re age 40 to 75, RBC Guaranteed Acceptance Life Insurance is an easy way to help reduce debt, relieve the financial burden of final expenses and more.

If you pass away, your policy can provide a tax-free

death benefit in the amount of your coverage to your beneficiaries or estate.

Accidental Death Benefit

In case of death from accidental causes before age 85, your beneficiary will receive five times the Basic Coverage.

If your coverage has been in place for more than two years and you are diagnosed with a terminal illness and have 12 months or less to live, you could receive a percentage of the death benefit (a compassionate advance) while you are still alive.

Your coverage is subject to the following exclusions:

We will not pay a death benefit or refund premiums if the policy is declared void due to material omission, misrepresentation or fraud.

Offers guaranteed premiums for life and flexible coverage amounts.

Term 100 life insurance can be an ideal way to protect your family’s financial future or to help your heirs pay the capital gains tax on assets (such as a cottage) you leave to them.

If you pass away while your coverage is in effect, your policy provides a tax-free

Term life insurance no exam

death benefit in the amount of your coverage to your beneficiaries or your estate.

Optional Coverage

Joint First-to-Die Option: Covers up to two family members—the benefit is payable on the first death, at which point coverage ends. The survivor also has the option to apply for a new policy without evidence of insurability, as long as he or she does so prior to the policy anniversary nearest his or her 70

Joint Last-to-Die Option: Covers up to two family members—the death benefit is payable on the last death, at which point coverage terminates. Joint-last-to-die coverage is often ideal for estate planning purposes.

Term 10 or 20 Rider: Add a single-life or joint-life rider to provide additional coverage for yourself, or to insure someone else, such as your spouse.

Children's Term Rider: Provides coverage for your natural or legally adopted children.

Accidental Death Benefit Rider: Pays an additional death benefit if you die as a direct result of an accident.

Total Disability Waiver of Premium Benefit Rider: After being totally disabled for six consecutive months, we will waive premium payments and policy fees while you are totally disabled.

Payor Death and Disability Waiver of Premium Benefit Rider: If someone else pays your premiums and he or she dies we will waive monthly premiums while policy is in force or if he or she becomes and remains totally disabled for six consecutive months, we will waive the payment of cost of insurance deductions, including the policy fee and rider premiums while this person is totally disabled.

The information above is intended as a summary only. Please see a sample riders policy for complete details on rider and optional coverage terms and conditions, including benefits and exclusions.

Your coverage is subject to the following exclusions:

Insurance coverage

During the application process, if we are given incorrect or incomplete information regarding age, gender, health, lifestyle or smoking habits, we reserve the right to deny or adjust your benefit.

Permanent Life Insurance FAQs

Find answers to your questions about our permanent life insurance products.

Guaranteed Acceptance Life Insurance?

Your coverage is subject to the following exclusions:

If you die during the first two years of coverage, the death benefit is limited to a refund of the sum of premiums paid to us, without interest, unless you die as a result of an accident before your 85

birthday (in this case, we will pay the Accidental Death Benefit). We will not pay the death benefit if you commit suicide within two years of any reinstatement. We will refund any premiums paid to us.

We will not pay a death benefit or refund premiums if the policy is declared void due to material omission, misrepresentation or fraud.

We will not pay the Accidental Death benefit if you die as a result of:

Natural causes, illness or disease

Committing or attempting to commit a criminal act

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Operating a motor vehicle while your blood alcohol level is more than the legal limit when the accident occurs

An illness or disease related to chronic use of alcohol

Taking a drug not as it is prescribed

Injuries where there is no visible contusion

Flying in any airplane, helicopter, or any other aircraft while you are a pilot or member of a crew

During the application process, if we are given incorrect or incomplete information regarding age, gender or smoking habits, we reserve the right to deny or adjust your benefit.

The information above is intended as a summary only. Please see the additional disclosure information or a sample policy for complete terms and conditions, including benefits and exclusions.