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RBC Insurance policies
Pluses:
1. They have very aggressively priced Term 10 and Term 20 policies at both standard and preferred rates.
2. They are leaders within the disability insurance market.
Minuses:
1. They do not have the term 30 policy.
2. They do not have any participating whole life policies.
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RBC Insurance News
Disability Insurance for Seniors
01/16/2012Seniors can still get disability insurance. Photo by Manuel Mc Most traditional disability insurance policies end the insurance at age 65. The Edge Disability Policy, underwritten by RBC Insurance, recently increased its coverage to age 75. The plan is available under issue ages of 18 to 69 and offers monthly benefits of $1,000 to $6,000 [...]
Life Insurance: 5 Reasons to Buy from RBC Insurance
10/31/2011RBC Insurance offers a variety of life insurance solutions for Canadians, and following are five reasons why buying life insurance from RBC makes sense: 1. Their Term 10 and Term 20 policies are competitively priced for most age groups and the policies are renewable and convertible, meaning the policies can be renewed and/or converted [...]
RBC Insurance Announces 47 New Branches
09/29/2011RBC will be expanding its insurance outlets across Canada Photo by Benson Kua. After spending the past two years improving customer service at its existing branches, RBC has announced plans to open 47 new insurance branches across Canada. "We’re going to continue to build on our retail platform,” RBC Insurance Chief Executive Officer Neil Skelding [...]
Critical Illness Insurance’s Automatic Increase Benefit Rider
09/29/2011What you need to know about the Automatic Increase Benefit Rider. Photo by wlodi A select number of Critical Illness providers in Canada have an automatic increase benefit rider. This rider allows the insured to automatically increase their critical illness insurance benefit at scheduled intervals. These automatic increases also mean that premiums go up according to [...]
RBC Insurance Looks to Intensify their Cross-Selling Strategy
08/20/2011RBC expands their life insurance options at their branch network. Photo by Scott As reported in the June/July issue of the Insurance and Investment Journal, RBC Insurance CEO Neil Skelding said that he wanted to intensify cross-sales in the RBC branch network to boost the company's income. Normally, RBC's auto insurance clientele are their preferred [...]
LSM Insurance Joins The Care Alive Softball Tournament
08/12/2011The Care Alive Foundation for Epilepsy is named after 32-year-old Caroline Cunningham. On Friday, August 13, 2011, the team from LSM Insurance will take to the diamond for a very special baseball game. We will be running the bases and hitting it out of the park for a very important cause. Care-Alive (The Caroline Cunningham [...]
Why Are Whole Life Insurance Rates and Universal Life Rates Increasing in Canada?
07/20/2011Universal Life rates are rising. Photo by wlodi Manulife Financial was the first major insurance company to raise its Universal Life Level Cost of Insurance rates. This has been followed by a slew of increases among other insurance carriers in Canada. Canada Life, RBC, BMO, and Industrial Alliance have all raised their Universal Life Level [...]
How TD’s 10 Year Term Life Insurance Policy Compares to their Competition
06/27/2011Comparing policy rates can save applicants' money. Photo by Duckie Monster Toronto Dominion's 10-year term life insurance policy is offered through its TD Life Insurance Division. The policy is available in face amounts of $50,000 to $5 million, and the premiums are fixed for the first ten policy years. The following chart compares TD Bank's [...]
Ask Our Experts Your Life Insurance Questions
06/07/2011Our team can answer any question. LSM Insurance has been providing life insurance solutions to Canadians for just under 20 years. Our team of experts helps unravel the mystery of life insurance and answer questions like the following: How much life insurance do you need? What is the best type of life insurance plan? Which [...]
Disability Insurance for Professionals: Consumer Review
06/06/2011An overview of disability plans available to professionals. LSM will be taking a look at a variety of insurance plans and we will dissect them on our website in an effort to show you the pros and cons of each. With this kind of clarity, we hope you'll be able to find the plan that's [...]
OMA Disability Insurance Premiums vs. Individual Disability Insurance Premiums
06/05/2011A doctor can get a better disability plan on his own than with the Ontario Medical Association. An LSM broker recently met with a 42-year-old, male medical specialist who was considering his disability insurance options. He was looking for a disability policy with a 90-day elimation period, a benefit period to age 65, an 'Own [...]
What is Guaranteed Acceptance Life Insurance?
05/29/2011No combined smoker/non-smoker rates on Simplified Issue policies. Photo by John Verive Guaranteed Acceptance Life Insurance is another name for Guaranteed Issue Life Insurance. Guaranteed Acceptance policies provide the insured life insurance protection without medical tests and without having to answer any health questions. This differs from 'No Medical' Simplified Issue Life Insurance, in that, [...]
Changes in RBC Insurance Premiums
05/28/2011Rates at RBC are going up. Photo by wlodi On May 2nd, 2011, RBC Insurance increased the rates on their Universal Life plan. We can assure you that the pricing of the new rates is in line with other carriers. Most of the major life insurance companies in Canada, including Manulife, Canada Life, Industrial Alliance, and [...]
RBC Insurance’s Disability Buy/Sell Plan
04/12/2011RBC has a plan to cover your business because of a disability. Photo by Lee Chisholm RBC Insurance offers a Disability Insurance Buy/Sell Plan that provides non-cancellable and conditionally renewable business protection for individuals in a partnership or corporation comprised of two or more partners or shareholders. The Disability Buy/Sell Plan is designed to provide [...]
Disability Insurance: A Business Insurance Option
04/04/2011The Business Insurance Option can protect the medical insurability of your business partners. RBC Insurance offers a Business Insurance Option, which is very similar to the Future Income Option under its traditional disability insurance policy. The business insurance option is a rider available on RBC's Disability Insurance buy-sell policies. The rider is truly affordable, providing [...]
RBC Insurance Raises Issue Limits on its Term 100 Plan
03/13/2011RBC raised the issue limits on their Term 100 plan. Photo by wlodi RBC Insurance recently raised the issue limits on its Term 100 plan, effective March 7th, 2011, from $10,000 to $50,000. Term 100 coverage provides fixed premiums for life. But, unlike Whole Life and Universal Life, most Term 100 plans do not build [...]
Who Hasn’t Raised Their Universal Life Rates?
02/22/2011Whose universal insurance rates haven't soared? Photo by Phil Brown Which companies haven't raised their Universal Life rates? In the past few months, several of the leading life insurance companies in Canada have raised their universal life level-cost-of-insurance rates in response to historically low interest rates and reduced profitability. The list of companies that spiked [...]
Critical Illness Providers: LSM’s Andrew Burdi Discusses the Secret Benefits.
02/17/2011LSM insurance broker, Andrew Burdi was recently interviewed to discuss some of the little known benefits and unique features of Critical Illness providers in Canada. He listed some of those unique benefits to give for or readers: 1. Manulife Insurance - Burdi revealed that Manulife offers a 10% advance on its Critical Illness policies, up [...]
RBC Guaranteed Acceptance Life Insurance
01/11/2011Don't worry, RBC Insurance makes sure your acceptance is guaranteed. Photo by Mark Sebastian RBC Guaranteed Acceptance Life Insurance plan is sold directly by RBC Insurance via its call centre and is not available via it's broker network. The plan is a guaranteed issue policy, which means there are no health questions and no medical tests. [...]
RBC Insurance’s Universal Life Children’s Term Rider
12/09/2010Insure your kids early and set them up for life. Photo by Lars Plougmann. RBC Insurance's Universal Life policy is available with a level or increased cost of insurance. Both versions have a Children's Term Rider, which is available to children ages 14 days to 20 years. Benefit amounts are $5,000 to $30,000 per child. [...]
Costco Term Life Insurance Policy
11/18/2010Considering Costco? Photo by Ben W Costco members between the ages of 18 and 70 can apply for term life insurance for themselves or their spouses for up to $500,000. The policies are priced in $25,000 increments and the minimum face amount is $50,000. Additional policy features. 1. The insured can get up to $100,000 [...]
RBC Insurance’s Universal Life 3.5% Minimum Guaranteed Return
11/13/2010RBC's Universal Rate-of-Return is now at 3.5%. Photo by Balazs Gal RBC Insurance's Universal Life plan has a 10-year guaranteed investment option with a guaranteed rate of return of 3.5%. The 3.5% guaranteed minimum rate of return is now guaranteed for the life of the policy to any policyholder who select the 10-year guaranteed investment [...]
Critical Illness Term to 75
11/02/2010The Ins and Outs of Critical Illness Term to 75. (Effective January 1, 2012, Standard Life will no longer sell individual life insurance and critical illness policies). Critical Illness Term to 75 coverage provides level premiums and pays out a Lump Sum Benefit should the insured be diagnosed with a listed Critical Illness and survive [...]
TD Insurance’s Business Credit Life Insurance
10/17/2010A look at TD's Business Credit Life Insurance. Photo by Lee Chisholm TD Insurance offers business credit life insurance to authorize borrowers who are Canadian residents are between age 18 to 69. The policy is available directly through TD Insurance's call center with the following features: 1) Applicants can get coverage of up to $500,000 [...]
CUMIS Term 10 Life Insurance Plan
10/17/2010CUMIS Term 10 rates don't stack up against their competitors Photo by Andy Rennie The CUMIS Group Limited partners with credit unions in offering its insurance and financial products. They are a leading provider of insurance related products and services to the Canadian credit union system. They serve approximately 485 credit unions with a total [...]
RBC Insurance’s Term 100 Life Insurance Policy
10/16/2010RBC Term 100 offers lifetime protection. Photo by mrhayata RBC Insurance offers a Term 100 life insurance policy which provides fixed premiums to age 100 and lifetime protection. The policy is only available on a life-pay basis and is not available in a limited-pay version. Additional features of the policy include: Limits of a $10,000 [...]
$456m Fine: A Costly Mistake for Great-West Lifeco
10/05/2010“C$456 million fine;” that was the sentence that Great-West Lifeco Inc. heard from judge Morissette on Monday, October 1st. But what happened that resulted in such an unprecedented fine to one of the leading life insurers in Canada? This gargantuan success is a result of a 13-year-long class-action lawsuit initiated by policyholders. But first [...]
Term 100 vs. Level Cost Insurance
10/01/2010Insurance plans with guaranteed cash value you can take to the bank. Photo by Paul. Term 100 insurance provides very straightforward coverage. It provides fixed premiums, guaranteed to never increase, lifetime protection and, in most instances, the policy does build at cash value. Universal Life insurance also offers lifetime protection, but offers a variety of [...]
Buying Disability Insurance in Ontario: The Two Best Plans
09/24/2010Compare the two leading disability insurance providers in Canada. Photo by Chelsea Oakes Two of the leading disability insurance carriers in Ontario are RBC Insurance and Manulife Financial. RBC Insurance’s head office is in Mississauga, Ontario and Manulife's is in Waterloo, Ontario. They both have competing high-end plans geared towards the professional market. RBC's plan [...]
Long-Term Care Insurance: Why you Need it More Than Ever
08/31/2010Everyone will need Long-Term Care eventually. Old Man by Mrhayata Canadians are living longer than ever before, and while this is good news, it does have a financial impact. According to Statistics Canada, one in every seven Canadians is 65 and over. Provincial health insurance plans do not have the resources to pay the full [...]
RBC Insurance: Life Insurance Multi-Line Discount
08/10/2010!0% off and your insurance costs go down. Photo by Joshua Williams RBC Insurance now offers a multi-line discount to new term life insurance applicants. The 10% discount was previously only available via their call center and career sales network, but the 10% off has been extended to their brokerage network. Applicants who have existing [...]
Term Life Insurance Rates and Renewal
05/06/2010Make sure your health hasn't changed photo by thinkpanama Term life insurance rates have been decreasing consistently over the last decade. There are two reasons for this: 1. People are living longer. 2. Competition is heating up among insurance carriers. Canada Life, RBC Insurance, and BMO Insurance have all recently reduced their term life premiums. [...]
A.M. Best Ratings for 2009-2010
04/23/2010Most credit scores of insurance companies are stable Photo by Balazs Gal A.M. Best is a credit rating company for the insurance and banking sectors. Consumers use it to assess the financial strength and credit worthiness of their lending institutions. The following are the ratings for March 2010 and the fourth quarter of 2009: AM [...]
The Edge – Injury and Illness Disability Plan
04/22/2010Get The Edge on Disability Insurance. The Edge introduced a conditionally renewable disability plan in 1993 and has since made several modifications and enhancements to that policy. The policy is underwritten by RBC Insurance and is available on a injury-only basis or it's available with injury and illness protection. Their injury-only coverage comes without a [...]
Term 10 or Term 20 Life Insurance: Which Is Better?
04/22/2010Which is Better? Term 10 or Term 20 Photo by Larry Vincent Term 10 and Term 20 life insurance policies provide premiums, which are level for 10 years or 20 years. RBC Insurance recently offered consumers the opportunity to combine Term 10 and Term 20 life insurance policies under one plan. As an additional benefit, [...]
Life Insurance Policy Fees
04/02/2010Don't let policy fees nickel and dime you by Garry Knight Life insurance policy fees are a built-in fee, which covers the administration of the policy. The fee is hidden within the premium, but can be found with the policy document. The following is a summary of term 10 policy fees charged by Canadian insures. [...]
Best Term 100 Life Insurance Plans in Canada
03/31/2010find out rates for a 50-year-old, male non-smoker. Photo by Luciano Meirelles Term 100 life insurance is essentially a stripped-down form of whole life insurance. The premiums are level for life and the policy provides lifetime protection. Unlike whole life policies, there are generally no cash values that build within the plan. This generally translates [...]
RBC Insurance’s Quantum Series Disability Plan
02/21/2010We've found a disability plan for professionals RBC Insurance's Quantum Series Disability Plan is an affordable disability insurance solution for professionals. The plan uses a unique loss of income definition for disability. Under this definition, if the insured is not able to earn any income because of an injury or sickness, the full benefit is [...]
RBC Insurance Announces More Options for Term 10 and 20 Insurance
02/12/2010RBC Insurance has announced more options on its Term 10 and 20 policies at no extra charge. These extra features include an exchange privilege and a conversion privilege. Exchange Privilege The ability to exchange a Term 10 to a Term 20 without providing additional evidence of insurability. The exchange may occur any time prior to [...]
Life Insurance for Smokers vs. Non-Smokers
01/07/2010Smoker by Valentin Ottone Life insurance companies generally classify an applicant as a smoker if he or she has used and form of tobacco during the last 12 months. The difference in premium can be substantial. In many instances, a smoker will pay double the cost for equivalent coverage than a non-smoker would. Below is [...]
RBC Life Insurance Pricing Announcement Oct. 2009
11/28/2009RBC Insurance has Re-Priced its Term 10 and Term 20 Plans by lowering its already competitive rates, effective October 26, 2009. They are particularly well priced on their Term 10 and Term 20 policies, with face amounts of $250,000.00 and up for applicants age 35 to 55. The rates have been adjusted on both [...]
RBC Insurance’s Simplified Critical Illness Term 10 Plan
06/15/2009If the only thing preventing you from taking the plunge and purchasing critical illness insurance is a complex medical test, then your prayers have been answered. Thanks to RBC Insurance, you can now get a CriticalIllness Policy without a medical exam. RBC Insurance has just rolled out a simplified version of their critical illness [...]
Client Roundtables with RBC Insurance
08/26/2008RBC Insurance will hold two client roundtables by their Life & Health Claims Department on September 24th and October 8th, 2008. These events will involve small groups of clients who have had a recent claim with RBC Insurance. In a recent press release, RBC Insurance said that the information they receive directly from these clients [...]
RBC Insurance increases limits on its future income option
08/04/2008RBC Insurance raised the limits on its future income option, effective July 30, 2008. The future income option allows disability insurance policyholders to increase their disability insurance monthly benefit without providing evidence of insurability. The increase applies to all occupation classes. New applicants qualifying for a 4A classification can now add a future income option [...]
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