RBC Universal Life
One of the top advantages of RBC Universal Life insurance is its flexibility—your coverage and premiums are customizable now and into the future. Life insurance from.
If you die during the time period when coverage is in effect, your beneficiaries or estate can receive the death benefit tax-free.
You can choose from two death benefit options:
Level protection pays a death benefit equal to either your coverage amount or the amount accumulated in your policy, whichever is greater.
Increasing protection pays a death benefit equal to your coverage amount plus your accumulation value.
Note: If your needs change, you may switch your death benefit option at any time after the second policy year.
Payable from your policy’s accumulation value in the event of illness or accidental injury, the disability benefit is payable once a year for as long as you (or another insured, under a joint policy) are disabled.
Should you become terminally ill, you can request an advance of up to 50% of your policy’s death benefit, to a maximum of $250,000.
Additional Term Insurance: Add this option at any time, for no extra policy fee, if you need affordable coverage for temporary needs like insuring a business loan or mortgage.
Children's Term Rider: Provides term life insurance 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.
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.
If you don’t smoke, lead a healthy lifestyle and have a positive family history, you may qualify for discounted preferred rates.
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Interest Options for RBC Universal Life
With RBC Universal Life insurance, you can choose from a wide range of interest options to meet your investing goals. The interest options you choose become accounts under your policy to which you allocate all or a portion of your premiums for the purpose of earning interest.
A licensed RBC Insurance
advisor will help you choose the right interest options to meet your needs and review your profile annually to make sure your needs continue to be met.
Variable interest options give you the opportunity to earn market returns without directly investing in the underlying index or mutual fund. These options have a return linked to a Canadian, U.S. or international equity index or to a professionally-managed RBC
mutual fund or portfolio. Because values can fluctuate, these options may be most suitable if you have a longer time horizon for wealth accumulation. Additionally, currency exchange rate fluctuations can have an effect on your returns if you choose a variable interest option that is linked to an index or fund with a foreign component.
We offer the following variable interest index options and variable interest fund options:
Canadian Equity, linked to the S&P/TSX 60 Total Return Index
Canadian Financial, linked to the S&P/TSX Capped Financials Index
Canadian Energy, linked to the S&P/TSX Capped Energy Index
American Equity, linked to the S&P 500 Total Return Index
European Equity, linked to the S&P Europe 350 Total Return Index
RBC Select Conservative Portfolio
RBC Select Balanced Portfolio
RBC Select Growth Portfolio
RBC Select Aggressive Growth Portfolio
RBC Canadian Short-Term Income Fund
RBC Global Balanced Fund
RBC Balanced Growth Fund
RBC Canadian Equity Fund
RBC Canadian Dividend Fund
RBC North American Dividend Fund
RBC North American Growth Fund
RBC O'Shaughnessy All-Canadian Equity Fund
RBC O'Shaughnessy U.S. Value Fund
Affordable life insurance
RBC U.S. Mid-Cap Equity Fund
RBC Global Dividend Growth Fund
RBC O'Shaughnessy International Equity Fund
To meet your needs, RBC Universal Life insurance is offered in two versions:
Maxim, Mentor, Maxinvest and Maxivu Information
Do you have an existing universal life insurance policy from RBC Insurance
that is invested in Maxim, Mentor, Maxinvest or Maxivu segregated funds? You can access fund facts, financial statements and more below.
Please note: These investments are no longer options for new policies.
Universal Life Insurance FAQs
Find answers to your questions about our universal life insurance product.
What can RBC Universal Life