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- RBC offers two variants of critical illness plans: Basic and Recovery plan
- While the basic plan only covers major critical illnesses like cancer, heart attack, and stroke, the Recovery plan provides coverage for 30+ serious illness
- RBC offers up to $2 million in lump sum benefits for its policyholders after diagnosis
- There is a survival period of 30 days after the diagnosis following which the policy benefits are paid out
- What are the key features of RBC’s critical illness insurance?
- What are the different critical illness insurance plans offered by RBC?
- What are the critical illnesses covered by RBC?
- What conditions are excluded from RBC critical illness insurance?
- What is the cost of RBC’s critical illness insurance plans?
- What are the premium options for RBC’s critical illness insurance plans?
- Why should you choose RBC’s critical illness insurance plan?
- What are the pros and cons of RBC’s critical illness insurance?
- Is RBC’s critical illness insurance policy right for you?
- Where to buy RBC critical illness insurance policies?
- Frequently asked questions
RBC critical illness insurance provides a financial safety net for individuals facing unexpected medical challenges. In this 2025 review, we’ll evaluate how RBC critical illness insurance can help protect your financial stability during a health crisis. Whether you’re seeking peace of mind or additional financial security, this review will guide you through everything you need to know about RBC’s offerings.
What are the key features of RBC’s critical illness insurance?
RBC offers two types of critical illness insurance plans tailored to meet diverse needs: the Critical Illness Insurance Plan and the Critical Illness Recovery Plan. Coverage amounts range from $10,000 to $2 million, providing flexibility to suit varying financial goals and protection levels.
The basic plan includes a Return of Premium on Death Benefit, offering refunds for all the paid premiums if the policyholder passes away while the policy is in force. Meanwhile, the Recovery plan stands out for its conversion feature, allowing policyholders to transition to a permanent plan without requiring proof of insurability.
| Category | Details |
| Minimum issue age | 18 years |
| Maximum issue age | 65 years |
| Coverage amount range |
|
| Survival period | 30 days |
| Additional benefits | Return of Premium on Death Benefit on the Basic plan |
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What are the different critical illness insurance plans offered by RBC?
RBC offers two types of critical illness insurance plans tailored to meet diverse needs: the Critical Illness Insurance Plan and the Critical Illness Recovery Plan. The Recovery plan has four tiers: 10-year term Renewable to age 75, Level cost to age 75, Renewable to age 65, and Renewable to age 75 plans.
While the Basic insurance plan offers coverage for major critical illnesses like cancer, heart attack, and stroke, the Recovery plan covers a detailed list of 30+ critical illnesses. Check out what these plans have to offer:
Key differences between RBC’s critical illness recovery plan and critical illness insurance plan
| Feature | Critical Illness Recovery Plan | Critical Illness Insurance Plan |
| Purpose | Comprehensive financial protection against 30+ critical illnesses | Affordable protection for the three most common critical illnesses: Life-threatening cancer, heart attack, and stroke |
| Eligibility | Available to individuals aged 18-65 | Available to individuals aged 18-50 |
| Coverage amount | Lump sum benefit between $25,000 to $2 million | Fixed benefit options of $10,000, $25,000, $50,000, or $75,000 |
| Covered illnesses | Covers over 30 illnesses, including cancer, heart attack, stroke, kidney failure, multiple sclerosis, Parkinson’s disease, Alzheimer’s disease, major organ transplant, and more | Covers only 3 critical illnesses: Life-Threatening Cancer, Heart Attack, and Stroke |
| Premiums | Depend on the chosen plan | Premiums increase every 10 years and can change until age 65 |
| Policy term | Flexible term options, including permanent or renewable term policies | Renewable term policies with a maximum term period |
| Long-term care conversion | Yes | No |
| Optional riders | Includes optional benefits such as:
|
Return of premium on death |
| Additional services | Provides access to additional services such as Teladoc Health, “The Healing Journey” program and early assistance benefit | Access to additional services such as Teladoc Medical Experts+, Medical Confidence, “The Healing Journey” program and early assistance benefit |
| Claim process | Requires detailed medical documentation; offers flexibility in accessing partial benefits for early-stage illnesses | Simplified claims process, but restricted to full payouts for qualifying conditions |
What are the critical illnesses covered by RBC?
RBC’s Critical Illness Recovery plan offers comprehensive coverage for a wide range of serious medical conditions, including cancers, heart attacks, loss of limbs, brain damage, organ failure, and more. This can serve as a financial support during challenging times.
Cancer (Life-threatening)
- Includes carcinoma, melanoma, leukemia, lymphoma, and sarcoma.
- A detailed explanation of “life-threatening cancer” is outlined in the policy contract.
Heart-related conditions
- Heart attack
- Heart surgery requirements, including:
- Aortic surgery
- Coronary artery bypass surgery
- Heart valve replacement or repair
Brain-related diseases
- Stroke (Cerebrovascular accident)
- Other brain diseases:
- Bacterial meningitis
- Benign brain tumor
- Dementia, including Alzheimer’s disease
- Parkinson’s disease and specified atypical Parkinsonian disorders
Loss of senses, limbs, or mobility
- Blindness: Total and irreversible loss in both eyes
- Deafness: Total and irreversible loss in both ears
- Loss of speech: Total and irreversible loss of the ability to speak
- Loss of limbs: Total severance of two or more limbs
- Paralysis: Total loss of muscle function in two or more limbs
Organ failure or transplant
- Kidney failure
- Major organ failure on waiting list
- Major Organ Transplant
Other covered conditions
- Coma
- Aplastic anemia
- Loss of independent existence
- Occupational HIV infection (accidental infection acquired while working)
- Severe burns
Partial benefits for early-stage conditions
You may qualify for 10% of the benefit amount (up to $50,000) the first time you are diagnosed with one of the following early-stage cancers:
- Early breast cancer
- Early prostate cancer
- Early skin cancer
- Early-stage intestinal cancer
- Early thyroid cancer
- Early-stage blood cancer
Additionally, you may also qualify for 10% of the benefit amount (up to $50,000) if you undergo a coronary angioplasty procedure.
What conditions are excluded from RBC critical illness insurance?
RBC critical illness insurance policies have specific exclusions such as self-inflicted harm, substance abuse, war or hostile conditions, criminal activities, and more. In such cases, no benefits will be paid, and premiums will not be refunded:
- Self-inflicted harm: No benefits are payable for injuries or death resulting from self-inflicted harm, attempted suicide, or suicide, regardless of the insured’s state of mind
- Substance use: Losses caused by the intentional use of drugs, intoxicants, narcotics, or poisonous substances are excluded
- War or hostile actions: Claims resulting from participation in war (declared or undeclared), hostile actions of armed forces, insurrection, or civil commotion are not covered
- Criminal activity: No benefits are paid for losses arising from an attempt to commit or the commission of a crime, regardless of whether the insured is charged
- Impaired operation of vehicles: Coverage is excluded for accidents occurring while operating a land, water, or air vehicle if:
- The insured’s blood alcohol concentration exceeds 80 milligrams per 100 milliliters, or
- The insured is under the influence of drugs, intoxicants, narcotics, or poisonous substances
What is the cost of RBC’s critical illness insurance plans?
The cost of RBC’s critical illness insurance ranges between $17 to $180 based on a person’s age, gender, family medical history and smoking status. The following is an illustration of the monthly premiums for different coverage amounts and smoking status.
RBC critical illness insurance monthly premiums
| Age | Coverage amount | Monthly premium ( Male Smokers) | Monthly premium (Male Non-smokers) |
| 20 | $50,000 | $17.91 | $16.75 |
| 30 | $100,000 | $39.87 | $30.33 |
| 35 | $50,000 | $31.23 | $21.42 |
| 40 | $100,000 | $78.66 | $43.92 |
| 45 | $50,000 | $74.16 | $37.80 |
| 55 | $100,000 | $396.45 | $179.82 |
*Sample illustration for male smokers and non-smokers between 20-55 years of age
Why should you choose RBC’s critical illness insurance plan?
RBC Insurance’s Critical Illness Insurance Plan offers an affordable and reliable way to protect your financial well-being in the event of a critical illness. Here’s why you should consider this plan:
- Financial protection for common critical illnesses: This plan provides coverage for three of the most common critical illnesses, offering peace of mind knowing you’re financially supported if the unexpected happens
- Flexible benefit amounts: Choose from four benefit options to select the coverage amount that best suits your needs
- Automatic renewal: The coverage automatically renews every 10 years until age 65 without the need to submit new medical information
- Transparent cost structure: While the cost for each 10-year period may increase, it will be clearly outlined in your policy contract
- Group-based premium adjustments: If premiums increase within a 10-year period, it will only apply to the entire group of policyholders with similar characteristics, not to your individual policy. You will be notified in advance of any changes
- Access to medical assistance: This plan includes valuable support services to assist with your diagnosis and recovery, offering guidance and resources when you need them most
What are the pros and cons of RBC’s critical illness insurance?
RBC’s critical illness insurance plans have several pros in terms of additional services such as Teladoc Medical Experts. The Healing Journey program and more. However, there are certain downsides in terms of a 90-day waiting period for cancer, limited disease coverage in the Basic plan, and varying premium amounts.
| Pros | Cons |
| There are two critical illness insurance options to choose from, based on your budget and needs | There is a 90 day waiting period for cancer diagnosis payouts |
| Teladoc Medical Experts allow you to get expert opinions from renowned medical professionals to confirm your diagnosis, no matter where you live | The critical illness insurance plan only has coverage for cancers, heart attack and stroke, leaving out numerous major diseases |
| RBC’s “Healing Journey Program” can be a useful tool for individuals dealing with anxiety after their diagnosis. | The premium amount may change over time |
| For the Recovery option, individuals can convert their term plans to permanent plans until the age of 71 without having to undergo medical examinations | |
| The offered lump sum benefit is up to $2 million | |
| Policyholders can receive 10% of their benefit (up to $50,000, payable once) without affecting future claims if diagnosed in the early stages of certain cancers or undergo coronary angioplasty, and meet the survival period requirements. |
Is RBC’s critical illness insurance policy right for you?
RBC can be a good option for Canadians who are getting older. If you want to protect yourself against financial loss if you suddenly get a critical illness, but you also want to make sure you have a plan for if you need long-term care in your senior years, RBC could be a great option for you.
Plus, they give you a lot of coverage and a fair bit of leeway with their partial condition coverage.
On the other hand, the company does not offer as many rider options as others, so it might not be the best option if you’re looking to get multiple coverages in one go. With their Guaranteed Renewable plans, they’re also the only company in Canada allowed to increase prices not just for one policyholder but for everyone’s policy that has certain characteristics the company decides.
This is why you should speak with a professional before you decide. As Canada’s best online insurance agents, we have insight that can help when you’re making a decision on which critical illness insurance to buy.
At PolicyAdvisor, we work with more than 30 of the best insurance companies in Canada. Speak to our licensed advisors and we can help you decide if RBC’s products are the best fit for you.
Where to buy RBC critical illness insurance policies?
You can buy RBC Critical Illness insurance on PolicyAdvisor. Use our free quoting tool or click the button below to get personalized quotes instantly. And, you can also compare those quotes with some of the other best critical illness insurance companies in Canada.
If you would prefer to speak with a licensed insurance agent, we can help with that too! Our experienced advisors would be happy to speak with you and give one-on-one advice.
Frequently asked questions
Can I customize the coverage amount in RBC’s critical illness insurance plan?
Yes, RBC allows you to choose from multiple benefit amounts, giving you the flexibility to select a plan that aligns with your financial needs and priorities. This ensures personalized coverage that suits your unique situation.
What happens if I don’t file a claim during my coverage term?
If no claim is filed during a 10-year term, the policy automatically renews until age 65, ensuring uninterrupted coverage without requiring additional medical assessments. RBC’s policy is designed for long-term protection, whether you make a claim or not.
Does RBC’s critical illness insurance policy provide coverage for early-stage illnesses?
Yes, RBC offers a unique feature where you can receive 10% of your benefit amount (up to $50,000) for certain early-stage illnesses, such as Early Skin Cancer or Early Thyroid Cancer. This partial benefit is paid without impacting the full coverage for future claims.
Are premium rates fixed throughout the policy term?
Premiums are guaranteed for each 10-year coverage term but may adjust at renewal based on factors affecting the group of policyholders with similar characteristics. However, RBC ensures individual policies are not singled out for rate increases.
RBC’s critical illness insurance plan can be a good option for people who want something comprehensive yet flexible. It can cover 30+ health conditions for up to $2 million. And, it can cover up to 7 health conditions for partial payouts. What we like the most about RBC is that it lets you convert this plan into long-term care payments down the line — which is great for aging Canadians.
