RBC’s Disability Plans: Professional and Quantum

RBC has four primary income replacement plans. Two of the plans are geared toward the professional market—the first is the Professional Series and their second plan is referred to as the Quantum Policy. The Professional Series is available with benefit amounts ranging from $450 to $25,000 per month. The plan is non-cancelable, meaning the insurance company cannot raise the rates or cancel the coverage. This is advantageous for the insured as they can always cancel or reduce the coverage, but RBC is bound by the terms of the contract regardless of a change in health.

The Quantum Policy is a lower-cost alternative for professionals and business owners. The policy is guaranteed renewable, meaning the insurance company can adjust the premiums or cancel the coverage on a class-wide basis. The policy has also a loss of earnings definition of disability, integration of benefits, and a focus on rehabilitation. The policy may also offer more flexibility in terms of underwriting.

Both the Professional and Quantum plans are available on a step rate basis. The initial premium is payable either to age 30 or five years after the date of issue, whichever is later. After the initial period, the premium increases to the ultimate level.

RBC also offers two plans targeted at blue-collar workers, farmers and middle-income earners. The policies offer less features and are available on a non-cancelable (i.e., RBC’s Foundation Series) and a cancelable basis (i.e., RBC’s Bridge Plan). Both these policies also have a step rate version.

12 Responses to “RBC’s Disability Plans: Professional and Quantum”

I need some type of disability insurance as have just taken out a mortgage and would like to know how to be covered in the case of being unable to work, how much it will cost and all of my options

Brett Allison thought on September 5th, 2008 11:27 pm
Hi Brett,

I’m happy to help out out. I’ll send you a seperate email with all my contact details - you can let me know the city your in and I can have one of our brokers contact you to get more details to get working on some quotes.

lorne thought on September 6th, 2008 6:21 am
I would like more information about RBC Foundation Series of Disability insurance.

Trisha Klein thought on October 7th, 2008 3:59 pm
Hi Trisha,

Below are some details on the Foundation series.

Please contact me at 905 248 4849 or lorne@lsminsurance.ca if you would like me to work out a quote. Regards … Lorne

The Foundation Series policy offers comprehensive long-term total Individual Disability Income Protection with a wide selection of optional benefits (e.g., long-term and short-term partial disability benefits, FIO, COLA).

This modular design and selection of benefits is suitable for a wide variety of clients such as business owners, employees, blue-collar workers, farmers and the middle income market.

The step rate version of The Foundation Series policy is available to those who are more comfortable paying lower premiums until they become more established in their business or profession. The initial premium is payable to age 30 or for five years after the date of issue, whichever is later. After the initial period, the premium increases to the ultimate level. Both premiums are guaranteed at issue. This is available to 4A, 3A, 2A classes.

Components of Coverage
Income protection (Total disability and optional, short-term or long-term partial disability)
Return to work (Return to work assistance, Recovery benefit available with long-term partial ri

lorne thought on October 7th, 2008 4:13 pm
disability ins quote?

mylo thought on November 5th, 2008 5:58 am
I’m happy to help out!

My contact deatils are below or you can visit our disability quote page http://lsminsurance.ca/application/ontario/disability.html

Lorne S. Marr CFP MBA
President
LSM Insurance
2900 John Street Suite 302
Markham, Ontario L3R 5G3
Tel: 905-248-4849 Cell: 647-388-3617
Toll Free: 1-866-899-4849 Fax: 905-300-4848
lorne@lsminsurance.ca www.lsminsurance.ca

lorne thought on November 5th, 2008 1:36 pm
I am finishing my degree in Dental Hygiene in 6 months and am wondering how expensive disability insurance on my wrists might be considering that they were injured mildly in a car accident 2 years ago and a claim was made through British Columbia auto insurance. In other words will it be a lot more expensive because they aren’t perfect and tendonitis or arthritis may be in the future? Age: 21

Hicken thought on September 25th, 2009 4:12 pm
Thanks for the note. You can’t insure a specific body part. Most disability will exclude pre-existing conditions.

lorne thought on September 25th, 2009 4:49 pm
Hi,

I am wondering if you offer Long term Disability Benefits to employees who chose to work beyond the age of 65. If yes, what would be the fee structure, recognizing that it is dependent on income.

Thanks

Michelle McDonald thought on September 29th, 2009 1:04 pm
Hi Michelle,

Thanks for the note. Most disability plans end at age 65 but Critical Illness Insurance or Long Term Care Insurance could be a good fit. I’ll send you a separate email shortly.

Regards … Lorne

lorne thought on September 29th, 2009 4:49 pm
I need disbility insurance, I am selfemployed and need to have this insurance. Please let me know how I can get a quote.

Thank you

Clever thought on October 14th, 2009 2:01 pm
Thanks Clever - I’ll be in touch with you soon. Regards … Lorne

lorne thought on October 14th, 2009 3:16 pm

RBC’s Disability Plans: Professional and Quantum