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Welcome to RBC Insurance® Guarantee Standard Issue® Plan (GSI) |
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Your Critical Illness Guarantee Standard Issue Plan
This overview is prepared to help you understand your Critical Illness Guarantee Standard Issue® plan. It is not a contract or an offer to provide insurance. If and when your policy is issued, complete insurance coverage details will be made available in your policy, and the terms and conditions of your policy will take precedence over any information in this document.
Some exclusions and limitations may apply to your coverage. You may request a sample policy from us through your employer before the policy is issued. You will have ten (10) days from the day you receive your issued policy to examine its provisions. If you are not satisfied, you can return it to RBC Life Insurance Company (RBC Life) and any premium paid will be refunded. You may also cancel your policy at any time after that ten (10) day period.
Your critical insurance coverage
Allowing you the independence to make meaningful decisions about your physical and financial recovery and protect your standard of living, the Critical Illness Guarantee Standard Issue plan provides a lump sum benefit if, while the policy is inforce, you are diagnosed with and survive one of the insured critical illnesses as defined in the policy. The critical illness benefit is payable to the insured unless the policyowner has declared otherwise. Upon payment of the lump sum critical illness benefit, coverage under the policy will terminate.
The waiting period before the critical illness benefit is payable is usually 30 days, unless otherwise specified in the definition of the critical illness.
Plan Types
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Level Term to 65 Guaranteed Renewable |
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Level Term to 75 Guaranteed Renewable |
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Level Term to 75, paid up at age 65 Guaranteed Renewable |
Optional Riders
Built-in Benefits
Lump Sum Benefit
The qualification for the lump sum benefit is not dependent on your inability to work, proof of reduction in income, or proof of expense incurred.
Insured Critical Illnesses
This plan provides a lump sum benefit as early as thirty (30) days after the insured meets the definition of any of the following insured critical illnesses:
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Alzheimer Disease |
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Loss of Speech |
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Aortic Surgery |
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Major Organ Transplant |
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Benign Brain Tumour |
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Motor Neuron Disease |
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Blindness |
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Multiple Sclerosis |
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Cancer |
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Myocardial Infarction (Heart Attack) |
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Chronic Kidney Failure |
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Occupational HIV Infection |
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Coma |
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Paralysis |
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Coronary Artery Bypass Surgery |
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Parkinson Disease |
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Deafness |
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Severe Burns |
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Heart Valve Replacement Surgery |
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Stroke |
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Loss of Limbs |
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Early Assistance Benefit (EAB)
This benefit is payable if the insured meets the specific definition of Early Prostate Cancer, Early Breast Cancer, Early Skin Cancer or Coronary Angioplasty and completes the survival period as defined in the policy, we will pay 10% of the lump sum Critical Illness Benefit.
The early assistance benefit is payable only once to the insured, regardless of the number of the critical illnesses or policies the insured may have with us.
Long Term Care Conversion Option
From the policy anniversary at the insured’s attained age fifty-five (55) to the policy anniversary at the insured’s attained age sixty-five (65), the policy owner can convert all of, or a portion of their Critical Illness policy, without evidence of good health, into a new Long Term Care insurance policy available in our current portfolio at the time of conversion request.
Assistance Services
The Critical Illness Guarantee Standard Issue plan doesn’t just provide a claim cheque. It includes an array of Assistance Services, designed to assist your recovery by addressing a common need amongst critical illness individual.
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Best Doctors® |
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Daily Living Assistance |
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Healing the Whole Person |
These services are all provided at no additional cost and can be used at your discretion as provided in the policy.
Your premiums
Your premium amount will be set once your coverage is underwritten. The amount of your initial premium will be specified in your policy when it is issued.
While you remain employed with your current employer, premiums are payable monthly. If you leave your current employment and continue your coverage under this policy, you will then have the option of paying your premiums monthly or annually. The monthly premium will be calculated by multiplying the annual premium by 0.09.
We can, at our discretion, change the premiums required from the policyowner under this policy. However, we only can do this when we make the same rate change for an entire group of policyowners, and where the relevant policies, policyowners and/or the persons insured under the policies share a characteristic or combination of characteristics that we determine to be material to our risk under the affected policies. Also, we cannot increase the premiums for this policy more than once in any 12 month period. We will give the owner at least 31 days written notice of any premium increase.
If you wish to change from Smoker rates to Non-smoker rates after your policy is issued, or if you wish to reinstate your coverage after it terminates due to non-payment of premium, we reserve the right to request evidence of insurability satisfactory to us. A service fee may apply.
Exclusions and Limitations
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No benefits are payable for any claim that arises, directly or indirectly, from any of the following: |
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the insured’s suicide or attempted suicide, or intentionally self-inflicted injury, whether or not the insured was in possession of their mental faculties at the time; |
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the insured’s intentional use or intake of any drug, intoxicant, narcotic or poisonous substance except as prescribed and administered by a physician or as directed by the manufacturer in the case of non-prescribed medication; |
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the insured’s attempt to commit or commission of a crime whether charged or not; |
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the insured’s participation in war (whether such war is declared or undeclared) or hostile action of the armed forces of any country, insurrection or civil commotion, or |
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the insured’s operation of any land, water or air conveyance which is moved or operated by any means other than muscular power, while the insured’s concentration of alcohol in one hundred (100) millilitres of blood exceeds eighty (80) milligrams or while the insured is under the influence of any drug, intoxicant, narcotic or poisonous substance except as prescribed and administered by a physician or as directed by the manufacturer in the case of non-prescribed medication. |
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No benefits are payable for any loss that results, directly or indirectly from any condition(s) that we have excluded by name or specific description in an endorsement or amendment to the policy. |
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No benefits are payable unless the insured survives the survival period. |
Limitation for Cancer benefits
If within ninety (90) days following the later of the effective date and the date of the last reinstatement if the policy lapsed and was reinstated,
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the insured is diagnosed with Cancer; Early Breast Cancer, Early Prostate Cancer or Early Skin Cancer; or |
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the insured has any sign or symptom of any type of cancer (whether covered or excluded in this policy) that becomes first manifest; or |
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any medical testing or investigation of the insured was initiated which subsequently leads to the discovery of any type of cancer (whether covered or excluded in this policy) , |
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no critical illness benefit or early assistance benefit will be payable; and |
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cancer, Early Breast Cancer, Early Prostate Cancer and Early Skin Cancer will thereafter be deemed not to be critical illnesses; and |
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no benefit will be payable under this policy, nor will we refund any premiums paid for this policy, if the insured suffers a critical illness or death as a direct or indirect result of any type of cancer (whether covered or excluded under the policy). |
Pre-Existing Conditions Limitation
Benefits are not payable under this policy for a critical illness or an other insured condition at any time during the 24 consecutive months immediately before the later of the date this policy came into force and the date it was reinstated after a lapse. However, this limitation does not apply to an insured critical illness or an other insured condition that are diagnosed more than 24 consecutive months after the later of the date this policy came into force and the date it was reinstated after a lapse.
For further details on this limitation, please refer to the Pre-Existing Condition Amendment included with your policy.
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