Get a Life Insurance Quote for RBC Insurance
Get your personalized RBC Insurance quote
Answer a few quick questions so we can match you with the right coverage
Get a Life Insurance Quote for RBC Insurance
Flexible and affordable coverage for your family
Get your personalized RBC Insurance quote
Answer a few quick questions so we can match you with the right coverage
About RBC Insurance in Canada
RBC Insurance is the insurance arm of the Royal Bank of Canada, one of Canada's largest financial institutions, with a life insurance business that has been operating since the 1960s. The company carries an A rating from AM Best, with roughly $28.6 billion in total assets and a 135% LICAT solvency ratio.
RBC Insurance offers a focused range of life insurance plans. Their YourTerm coverage lets you choose any term length from 10 to 40 years, with coverage up to $25 million. For permanent protection, Growth Insurance is a participating whole life plan that builds cash value and is eligible to earn annual dividends.
At PolicyAdvisor, our licensed advisors help you compare these RBC Insurance plans to get the right coverage, with expert advice at no cost.
Compare RBC Insurance plans with PolicyAdvisor
RBC Insurance offers coverage for every stage of life, from affordable term protection to permanent plans that build cash value.
RBC YourTerm
Flexible coverage in the exact term length you need.
Key features
- Coverage from $100,000 to $25,000,000
- Choose any term length from 10 to 40 years
- Convert to whole life or Term 100 coverage without new medical evidence up to age 71
- Single or Joint Coverage
A good fit if you:
- Want to leave a straightforward legacy for the people who depend on you
- Need coverage for a set period, like a mortgage or your working years
RBC Growth Insurance
Lifetime protection that also builds cash value, guaranteed to grow.
Key features
- Growth Insurance: long-term tax-deferred growth, coverage from $25,000 up to $25,000,000, cash value accessible after year 5
- Growth Insurance Plus: accelerated tax-deferred growth, coverage from $250,000 up to $25,000,000, cash value accessible after year 1
- Life Pay, 10 Pay, or 20 Pay premium options, plus 5 dividend choices
- World-Class Asset Management with an RBC investment team
- Single or Joint Coverage
A good fit if you:
- Want your policy to double as a source of funds you can borrow against
- Are planning for estate transfer, retirement, or long-term certainty
RBC Insurance offers optional riders that can help tailor your coverage to fit your needs. On both term and whole life plans, a Children's Term Rider can add coverage for your children, a Disability Waiver Rider can pause your payments if you become disabled, and a Payor Death and Disability Waiver does the same if the person paying your premiums dies or becomes disabled. Whole life plans also offer a Juvenile Guaranteed Insurability Benefit, letting an insured child buy more coverage later with no new medical evidence. An advisor can help you explore the available options.
RBC YourTerm flexes with you
Term life doesn't have to be rigid. Here's what makes YourTerm easy to shape around your life.
Key features of RBC YourTerm insurance
RBC Insurance offers permanent, lifelong coverage too, but most families begin with term insurance because it is affordable and easy to shape around your budget. Here is what sets RBC YourTerm apart.
Level premiums
Your premium amount stays the same for the duration of your chosen term.
Flexible term selection
Choose any term length from 10 to 40 years, in one-year increments, not just preset options.
High coverage limits
Coverage from $100,000 up to $25 million, depending on eligibility and underwriting.
Convertible
Convert to an eligible permanent RBC plan before the policy anniversary nearest your 71st birthday, no new medical exam required.
Term Exchange
Exchange Term 10 for Term 15, 20, or 30 with no new medical, before your 5th policy anniversary.
Guaranteed renewable
Renew your policy at the end of your term without providing new evidence of insurability.
Wide issue-age range
Apply from age 18 up to age 70, depending on the term length you choose.
Joint first-to-die option
Cover yourself alone, or you and a partner together under a single joint first-to-die policy.
Digital & advisor-assisted
Apply online with a licensed advisor.
Get your personalized quote in minutes.
Compare tailored RBC Insurance quotes and explore coverage options designed to fit your lifestyle, with expert advice from PolicyAdvisor at no cost.
Cost of RBC term insurance in Canada
Your life insurance premium depends on factors such as your age, health, coverage amount, and term length.
RBC YourTerm offers flexible term life insurance options designed to help protect your family's financial future at a manageable cost. The sample premiums shown can give you a general idea of what term coverage may cost.
Alternatively, RBC Growth Insurance may be a good fit for those looking for lifelong coverage with cash value growth over time. As a participating whole life policy, it also offers the potential to receive policyholder dividends, although dividends are not guaranteed.
Speak with one of our advisors to compare your options and find coverage that fits your needs.
Illustrative rates only. Based on $100,000 of coverage over a 10-year term for a non-smoker in good health. Actual premiums vary by age, coverage amount, and health. Contact an advisor for a personalized quote.
Why get your RBC Insurance quote through PolicyAdvisor?
- No-cost, no-obligation advice
Talk to a licensed advisor who walks you through your choices and handles the application with you. It comes at no cost, and there is no pressure to buy. - On your side, not the insurer's
We are an independent brokerage, so we line RBC Insurance up against other leading Canadian insurers and let you see for yourself whether it is your best option. - Everything handled online
Pull your RBC Insurance quotes and chat with an advisor from your couch, whenever it suits you. No forms to mail, no office visits. - Ongoing support after you buy
Your relationship with your advisor continues past the sale. As your life changes or if you ever need to make a claim, they are ready to help.
Get your personalized quote in minutes.
Compare tailored RBC Insurance quotes and explore coverage options designed to fit your lifestyle, with expert advice from PolicyAdvisor at no cost.
FAQs
Everything you need to know about RBC Insurance life insurance.
Life insurance is a contract between you and an insurer. You pay a regular premium, and in return the insurer pays a tax-free lump sum, called the death benefit, to the people you name as beneficiaries if you pass away while the policy is in force. Your family can use that money for anything they need, such as covering everyday living costs, paying off a mortgage or other debts, replacing lost income, or funding future goals like a child's education.
RBC Insurance is the insurance arm of the Royal Bank of Canada, one of Canada's largest financial institutions, with a life insurance business operating since the 1960s and an A rating from AM Best. It offers flexible YourTerm coverage with terms from 10 to 40 years, and Growth Insurance participating whole life plans that build cash value and are eligible to earn annual dividends. Through PolicyAdvisor, you get a licensed advisor who helps you compare RBC Insurance plans and choose the right coverage, with expert advice at no cost.
RBC Insurance offers both term and permanent life insurance. YourTerm provides coverage for any term length from 10 to 40 years, up to $25 million, with the option to convert to a permanent RBC plan before age 71. Growth Insurance is a participating whole life plan that provides lifelong protection, builds cash value you can borrow against, and is eligible for annual dividends, with Life Pay, 10 Pay, or 20 Pay premium options. A PolicyAdvisor advisor can help you decide which fits your needs and budget.
The right amount depends on your personal situation, including your income, debts such as a mortgage, the number of people who depend on you, and your long-term goals. A common starting point is to cover your outstanding debts plus several years of income so your family can maintain their lifestyle. A licensed PolicyAdvisor advisor can walk you through a quick needs assessment and recommend a coverage amount tailored to you.
Not always. Whether a medical exam is required depends on your age, the coverage amount, and the specific plan. Many applications can be completed with health questions only, while larger amounts of coverage may require a brief medical exam or additional information. Your PolicyAdvisor advisor will let you know what to expect based on the RBC Insurance plan you choose.
In most cases, the life insurance death benefit paid to your named beneficiaries is received tax-free in Canada. This is one of the key advantages of life insurance. Certain situations, such as interest earned after the date of death or policies structured for business or estate purposes, can have tax implications, so it is a good idea to speak with a licensed advisor or tax professional about your specific circumstances.