How does it work? You pay level premiums until you die or reach the age of 100. However, at the end of the day Term 100 is permanent insurance…think permanent in the sense of one hundred years. The name “ Term 100” is also confusing as it contains the word “Term” which makes you think it’s NOT permanent. It guarantees your future insurability which is a good thing. This is a standard option with almost all term policies regardless of the carrier. You can do so without having to provide any medical evidence of insurability. Payor Death and Disability Waiver of Premium Benefit Rider.Total Disability Waiver of Premium Benefit Rider.Optional RBC Term Life Insurance Riders include: It means if God forbid, your health takes a turn for the worst or something happens, your insurability is guaranteed moving forward. This is a must-have feature with any term life insurance policy. If you are a high net individual or have business interests this may be of interest to you.Īs expected, all RBC Your Term policies are convertible to RBC Universal Life or RBC Term 100 up to the age of 71. One of the unique features of RBC Term Life Insurance is they offer very high coverage amounts. Considering this option? Get in touch with an experienced independent insurance broker who can help you crunch the numbers! Joint first-to-die coverage for a couple can be more affordable than purchasing two individual term policies. Why would anyone want this type of policy? When the husband dies prematurely from a massive heart attack, his spouse is paid out the $500,000 death benefit.Īfter that point in time, they no longer have coverage. For example, a married couple purchase an RBC joint first-to-die 20-year term policy for $500,000. It’s a policy that has two people on it, usually a couple, designed to pay out a benefit on the first death only.
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