RBC Insurance’s Term Life Policies: Waiving the Policy Fee May-August, 2014


In May 2014, RBC Insurance announced that they were waiving the policy fee for three months on their Term 10 and Term 20 life insurance products. They will waive  the regular $40 policy fee for your term clients on any new Term 10 or Term 20 with coverage amounts of $250,000 to $499,999 from May until August 8, 2014.

An application for any new policy received between the dates of May 12, 2014 and August 8, 2014 will be processed without a policy fee.

An application will be considered to be received in good order when:

  • It is received in our Head Office between the dates of May 12, 2014 and August 8, 2014 (inclusive).
  • All the questions have been completed, the application bears all the required signatures, and the appropriate forms have been included.

RBC Insurance, part of the RBC Financial Group, is a newcomer to the Canadian marketplace. Their Term 10 and Term 20 plans are renewable and convertible to any of their permanent policies. Both plans have a $100,000 minimum face amount, and the Term 10 plan is available to applicants aged 18 to 70 while the Term 20 plan is available to applicants aged 18 to 60. Both plans are renewable to age 80.

RBC Insurance offers preferred rates for those who qualify on amounts over $250,000 — non-smokers qualifying for optimum rates can get rates 25% lower than standard rates. RBC Insurance’s term policies offer the following built-in features: the insured can convert to permanent insurance without medical evidence prior to age 71 (most companies only offer this feature to age 65); their Term 10 policy has an exchange option which allows the insured to exchange a Term 10 policy for a Term 20 policy without providing medical evidence. You can elect this option at any time prior to either the 5th policy anniversary or the policy anniversary nearest the policyholder’s 60th birthday, whichever comes first.

RBC Insurance’s term policies also have the following riders/benefits available as add-ons: accidental death benefit, guaranteed issue rider, waiver of premium rider, and children’s life insurance rider.

Below are examples of RBC Insurance’s Term 10 rates at $250,000 of coverage or visit our instant quote page for more information.

………..Standard Rates:….Preferred Rates:
35-yr male N/S:…$18.90/month……..$13.95/month
45-yr male N/S:…$31.95/month……..$25.20/month
55-yr male N/S:…$73.80/month……..$54.45/month

UPDATE: If you’re looking for coverage over $500,000 on term Plus,  10 and term 20 plans, you can expect lower rates from RBC. Plus, if the coverage amounts are between $250,000 to $499,000, the rates are still competitive. Term 10 and Term 20 plans are also still convertible to a RBC Universal Life Plan or a Term 100 plan to age 71.

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What Clients Say About LSM

life insurance testimonialsI first heard of LSM shortly after I was declined for life insurance due...1 of 85Howard UblanskyRead more


  1. carol gilbeau 08/28/2008 at 12:28 pm

    59, non smoker, looking for life insurance, could you provide me with a monthly quote

  2. LSM Insurance 08/28/2008 at 2:50 pm

    Hi Carol,

    Thanks $250,000 for an age nearest 59 year old non smoker.

    Standard rates are $89.44 a month and preferred rates are $63.79 a month.

    Best Regards … Lorne

  3. chandrashekhar 12/17/2010 at 10:51 pm

    I am 37 year old and i am looking for term life insurance for me and my wife. could you provide me monthly quote.

  4. LSM Insurance 12/19/2010 at 2:56 pm

    Thanks for the note. We’ll be in touch soon by email. Regards,

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