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RBC Life Insurance

Here are seven reasons why you should get a life insurance, and RBC Life Insurance Company is one of them. Why RBC? Because RBC has been in the business of insurance care for more than 150 years, and that is experience you cannot buy. It is one of the largest insurance companies based in Canada and operating internationally. In the United States it has nearly 60 sales offices where transactions can be made, claims filed, and financial planning carried out. To facilitate payments, clients can make purchases through phone, or have an RBC insurance representative collect their payments in the comfort of their homes. RBC even simplifies the process of getting an insurance plan, and aims to make their clients understand the product that best fits their needs. The company's well-trained insurance advisors give practical advice and effectively assist the family in choosing their plan. Since there are various product offerings, with each insurance package having its own salient features, RBC advisors ensure you understand the advantages and coverage of each so that you will not encounter surprises in any eventuality. Now that is friendly, honest and proficient service you can count on with RBC Life Insurance.

Another reason you should get a life insurance is essentially to protect your family and loved ones. A life insurance is usually obtained by the main income earner of the family. In the event of the insured's accidental death, his family will receive periodic pay checks that will allow them to take care of their living expenses, just as if the wage earner were alive. Death benefits may also include coverage for funeral expenses. Although the life insurance cannot make up for the loss of a loved one, it provides practical comfort and economic security during a distressing time.

RBC offers Term and Permanent Life Insurance. Term is a time-bound plan; after the specified number of years it expires. This policy's length of validity is decided by the plan holder. This is most appropriate for starting families since this is more affordable. Permanent, on the other hand, offers lifetime protection. It is more expensive but has more benefits. There are variations in permanent life plans, with some offering cash back options. It is best to check what you really need and what can fit your budget. With mortality being a fact of life, one can still beat Death by being prepared.

Not only do you protect your family with a life insurance; you protect your assets as well. With RBC's life insurance, you can use your plan to pay estate taxes. What's more, using your life insurance for payouts is tax-free. This is a smart way to beat levies on property since the amount can be quite staggering. Using this option, your heirs will have a greater chance of keeping the family property.

The fourth reason you should get a life insurance is because you can use this plan to grow your retirement funds. This is possible with RBC's Universal Life Insurance. This type of insurance gives you the flexibility to decide how much of your payment will be put into your life insurance policy, and what will be set aside for growing your wealth. The percentage you put in the former affects your insurance coverage amount, while the portion you put under investments determines your cash growth potential. If you think the market is ripe for investment, it may be wise to put more in your wealth accumulator. Alternatively, if it is not as promising, invest more in your life insurance coverage. Either way, you will be protected at the same time you are increasing your retirement funds.

The Universal Life Insurance may also be used to send a child through college - the fifth reason you should get a life insurance. Following the principle of growing the retirement savings, the money set aside for investments may be applied to pay for school fees. RBC can advise you how you can maximize this feature and shelter your investments from taxes legally.

The sixth reason you should get a life insurance is because you can convert this to cash in an emergency. RBC allows you to make cash withdrawals from your plan, though this will affect your amount of coverage. Alternatively, you can make a policy loan, which lowers your coverage amount only when your loan is still active. After full payment, you get your original coverage back. You may also use your life insurance as collateral for a bank loan. Note, however, that using your life insurance for cash should only be made in dire situations as you can jeopardize its income-generating aspect.

Having learnt all these, the final reason for getting a life insurance is because it gives you peace of mind. You may not know when you will kick the bucket, but you can be assured that your earthly affairs are in order, your loved ones taken care of, and your material possessions secure. If you are blessed with a long life, then you further enjoy the fruits of your investments as you retire comfortably and with dignity. It is with this aim that RBC Life Insurance seeks to empower individuals by securing their future.