RBC Insurance offers term life, home, auto, travel, and creditor insurance — sold primarily through RBC banking branches and online to existing clients. Strong bundling discounts when paired with mortgage, banking, or credit cards. Premium pricing reflects RBC's brand premium rather than competitive market rates.
RBC Insurance's pricing is rarely the cheapest on a standalone basis. But for existing RBC mortgage or premium banking clients, the bundle discount (typically 10-15%) often matches or beats standalone insurers. The convenience of having auto + home + life + bank in one app is the real selling point.
10/20/30yr term policies. Direct-online application available.
Province-specific (ON, NB, NS, NL only).
Property, content, liability. Bundle discount with auto.
Trip cancellation, medical, baggage. Annual + single-trip.
Pays off mortgage balance on death. Premiums level with mortgage.
Lump-sum payout on covered conditions.
RBC Insurance pricing isn't competitive on a standalone basis — PolicyMe beats it for term life, dedicated brokers beat it for auto/home. But for RBC banking clients with mortgages, the bundle discount + convenience justify it. Always get a non-RBC quote for comparison.