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Personal Insurance > Life Insurance > Permanent Life Insurance

Permanent Life Insurance

Dependable coverage—for your entire life(1).

Permanent life insurance is designed to provide insurance coverage for your entire lifetime. With this type of coverage, you have the dual security of knowing that while your premiums will never change, in the event of your death, your beneficiaries will receive the policy benefit tax-free.

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Why choose permanent life insurance?

You can use a permanent life insurance policy to ensure that your surviving spouse and dependent children have access to the funds they need to maintain their quality of life should you pass away. Your heirs can also use the benefits payable to them to help cover the capital gains tax on any assets you leave them in your Will—for example, a cottage or other vacation home.

The main benefit of permanent life insurance is that it provides you with insurance coverage for as long as you live—at the same guaranteed rates.

How much life insurance do you need?

Note: When using our life insurance needs calculator, please note that with RBC® Guaranteed Acceptance Life Insurance, the maximum amount of coverage you can apply for is $25,000.

Explore your plan choices:

  • RBC Guaranteed Acceptance Life Insurance (ages 50-75)
    Provides coverage up to $25,000 that you can use to fund final expenses or leave a little something extra to your loved ones.
  • Term 100 Life Insurance (ages 18-85)
    Provides the security of lifetime coverage, with various coverage amounts over $50,000 and premiums that stay the same for the life of your policy.

1) You may apply for permanent life insurance if you are between the ages of 50 and 75 (RBC Guaranteed Acceptance Life Insurance) or between the ages of 18 and 85 (Term 100 life insurance) and are a Canadian citizen or permanent resident/landed immigrant who has been in Canada for more than 12 months.

 

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See how affordable permanent life insurance can be:

You may be eligible to apply online for RBC Guaranteed Acceptance Life Insurance.

 
 

Contact Us

For coverage up to $25,000 RBC Guaranteed Acceptance Life Insurance (ages 50-75):

For coverage $50,000 & over Term 100 (ages 18-85):

 
 

Tools & Calculators

 
 

Do you have a term life policy with us?

If you have a term life insurance policy nearing the end of its term, and you’re under age 71, converting to a permanent life insurance policy may be a viable and valuable option for you.