RBC Simplified Term Life Insurance

Protecting your family has never been easier.

With RBC Simplified Term Life Insurance, you can help secure your family’s financial future with affordable coverage that’s easy to buy.

Features and benefits of RBC Simplified Term Life Insurance:

  • Apply for a coverage amount under $500,000 (starting at $10,000).
  • Choose coverage for a 10- or 20-year term(1).
  • Premiums and coverage amount are guaranteed for the entire policy term.
  • Your beneficiary or estate receives the death benefit tax-free(2).
  • Renew your policy up until the policy anniversary nearest your 80th birthday.
  • Convert your policy to a permanent or universal life insurance plan without providing additional medical evidence(3).
  • Take 30 days to review your policy. If you change your mind during that time, we will give you a full refund and cancel your policy.
  • You may be able to apply for coverage in as little as 15 minutes.


Eligibility Requirements

You’re eligible to apply for RBC Simplified Term Life Insurance coverage if you are:

  • Between the ages of 18 and 70 (Term 10) or 18 and 60 (Term 20), and
  • A Canadian citizen or permanent resident/landed immigrant who has been in Canada for more than 12 months

Ending Your Coverage

Your coverage ends on the earlier of:

  • The date of your death
  • The date you request to cancel your life insurance in writing
  • The date you stop paying your insurance premiums (you have a 30-day grace period after payment is due)
  • The policy anniversary nearest your 80th birthday

Covered Conditions

If you die during the time period when coverage is in effect, your policy provides a tax-free death benefit for the amount of coverage that you purchased to your beneficiaries or your estate.

Summary of Exclusions
Your coverage is subject to the following exclusions:

  • During the first two years of coverage, if death is due to suicide, then no benefit is payable.
  • During the application process, if we are given incorrect or incomplete information regarding health, lifestyle or smoking habits, we reserve the right to deny your benefit.

About Your Premiums

Your premium will depend on your age, gender, health, family history, smoking habits and the benefit coverage amount.

If you are approved for coverage, your policy will contain a premium schedule that will show all premiums payable, including the renewal premiums. Your coverage begins on approval and once payment is received.

Your Premiums Stay the Same for Your Entire Term
Your premiums are guaranteed to stay the same for the entire 10- or 20-year term of your policy. After that, if you choose to renew your policy, you will continue to pay guaranteed premiums based on your renewal premiums. As long as you continue to pay your premiums, your coverage can continue at these rates, up to the policy anniversary nearest your 80th birthday, at which time coverage terminates.

Paying Your Premiums
You may pay for your policy on a monthly or annual basis.

  • If you are paying by monthly pre-authorized debit, we will automatically debit your account when you are approved for coverage.
  • If you select to pay on an annual basis, we will send out an invoice for the annual premium.
  • If you buy your coverage online, a credit card in the name of the policyholder will be required to purchase.

BMO: Critical Illness Insurance

A critical illness can strike anyone at any time, and the odds of surviving are better than ever with modern medicine. No one wants to think about the possibility of being diagnosed with a severe illness, but it is a possibility that no one can afford to ignore.

Considering each of your life events, if diagnosed could you afford to:

  • Continue to pay off your mortgages?
  • Receive the best possible treatment?
  • Protect your savings?
  • Pay for your children’s educational needs?
  • Plan a secure financial future?

That is why our Living Benefit plans are unique in the industry with a comprehensive list of covered conditions and value-added services designed exclusively for you.

SSQ Loan Insurance

Protect your loans in times of crisis

Icône - Loan Insurance

Whether it’s to cover a mortgage, a line of credit or many other types of loans, our loan insurance protects both your family and your assets.

Loan Insurance

Whether you need to cover your mortgage, a line of credit or several other types of loans, loan insurance is a solution that protects not only your assets but also your family, should something happen to you.*

  • SimpleDesigned to offer you essential benefits in a single policy, our key solution simplifies your choice as it meets all your needs.
  • FlexibleWell-suited to a wide range of loans, your coverage works independently of your lenders. Benefits are paid to you and your beneficiaries, not your lenders.
  • ComprehensiveAn all-in-one solution offering you effective and reliable protection to help safeguard your family’s standard of living.

Choose a CoverMe™ Travel Insurance Plan – Manulife

CoverMe Travel insurance offers you a variety of plans to choose from – Travel insurance for Travelling Canadians, Travel insurance for Visitors to Canada and Travel insurance for Students – so you can select the protection that best suits your unique travel insurance needs.

CoverMe Travel for Travelling Canadians

CoverMe Travel insurance for travelling Canadians gives you a simple, affordable way to protect yourself against the cost of unexpected medical expenses and more, when travelling outside your home province or outside of Canada. With a variety of Single-Trip and Multi-Trip plans to choose from – each offering up to $5 million in emergency medical coverage – you can select the plan that best suits your needs, your travel plans and your budget.

CoverMe Travel for Visitors to Canada

CoverMe Travel insurance for Visitors to Canada offers your family and friends a simple way to protect themselves against the cost of emergency medical expenses and more, while they are visiting Canada. It also meets the Super Visa insurance requirements.iVisitors have a variety of Single-Trip, Multi-Trip and coverage amount options to choose from, so they can select the plan that’s right for them.

CoverMe Travel for Students

CoverMe Travel insurance for Students offers those studying away from home a smart, economical way to protect themselves against the cost of basic healthcare needs, emergency medical expenses and more, while they are an international student studying in Canada or a full-time Canadian student studying outside their home province or outside of Canada. Family coverage is also available for those immediate family members residing with a student while they are studying abroad.

Compare our travel insurance products

travel underwriters

Manulife Financial


Introducing Synergy

Synergy offers one-of-a-kind insurance coverage, combining three policies in one affordable and easy-to-manage package. Synergy’s unique design provides protection against life’s everyday risks: disability, critical illness and early death.
Suitable for your personal and business needs, Synergy allows you to protect your family against the financial impact of the unpredictable, everyday risks we all face.

Synergy provides solid insurance protection across three high risk areas at one affordable price. The convenience and simplicity of Synergy allow you to manage one policy with one amount to pay while you cover the need for three essential types of insurance.

The flexibility of Synergy gives you and your loved ones the ability to:

  • Help protect your income if you are unable to work
  • Provide mortgage and debt protection
  • Supplement gaps in group disability, critical illness and life insurance coverage
  • Protect your family against the financial impact of loss of income due to injury, illness and premature death

Synergy also includes features and options to help you customize a solution to meet your needs. Plus, when you chose Synergy, you benefit from Manulife’s one-of-a-kind health information and support service – Health Service Navigator

Learn more about Synergy and how it works at www.manulifesynergy.ca.

View a sample contract