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Critical illness insurance calculator

How much critical illness insurance do you need?

Use our critical illness insurance calculator to estimate how much coverage you need to replace lost income, cover expenses, and support your recovery if a critical illness prevents you from working.

If you don’t make a claim, return of premium options ensure your premiums are paid back to you.*

Policies include access to leading medical experts for consultations and support.**

Coverage evolves with you, giving you flexibility to meet your changing needs.

Our flexible term lengths let you select a policy that fits your needs and budget.

Tell us about your income

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Estimate your monthly salary after tax, minus any disability coverage you have.
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If a spouse/partner would take unpaid leave to help you, estimate their monthly salary after tax.
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What are your essential monthly expenses?

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Estimate your monthly cost for things like groceries, utilities, transportation, etc.
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Enter your monthly payment amount.
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What could your expenses be as you recover?

A critical illness can bring unexpected costs that government and workplace plans don’t cover. Select an estimated amount of support you’d want for health and recovery expenses.

Let’s get your contact info

We protect your personal information.

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Collection, use and sharing of personal information

Please review the full agreement below. By clicking the button, you acknowledge your consent, and a PDF copy will be downloaded for your records.

We (RBC Life Insurance Company) may from time to time collect information about you such as:

  • information establishing your identity (for example, name, address, phone number, date of birth, etc.) and your personal background;

  • in information related to or arising from your relationship with and through us;

  • in information you provide through the application and claim process for any of our insurance products and services; and

  • information for the provision of products and services.

We may collect information from you, either directly or through representatives. We may collect and confirm this information during the course of our relationship. We may also obtain this information from a variety of sources including hospitals, doctors and other health care providers, the MIB, LLC, the government (including government health insurance plans) and other governmental agencies, other insurance companies, financial institutions, motor vehicle reports, and your employer.

Using your personal information

This information may be used from time to time for the following purposes:

  • to verify your identity and investigate your personal background;

  • to issue and maintain insurance products and services you may request;

  • to evaluate insurance risk and manage claims;

  • to better understand your insurance situation;

  • to determine your eligibility for insurance products and services we offer;

  • to help us better understand the current and future needs of our clients;

  • to communicate to you any benefit, feature and other information about products and services you have with us;

  • to help us better manage our business and your relationship with us; and

  • as required or permitted by law.

For these purposes, we may make this information available to our employees, our agents and service providers, and third parties, who are required to maintain the confidentiality of this information.

In the event our service provider is located outside of Canada, the service provider is bound by, and the information may be shared in accordance with, the laws of the jurisdiction in which the service provider is located. Third parties may include other insurance companies, the MIB, LLC and financial institutions.

Your personal information may be transmitted through, stored, or processed in jurisdictions other than where you are based, in which case the information is bound by the laws of these jurisdictions. If your personal information is transferred to a country/province other than your home jurisdiction, we will take measures to protect your personal information with appropriate contract clauses or other applicable safeguards.

We may also use this information and share it with RBC® companies (i) to manage our risks and operations and those of RBC companies, (ii) to comply with valid requests for information about you from regulators, government agencies, public bodies or other entities who have a right to issue such requests, and (iii) to let RBC companies know your choices under “Other uses of your personal information” for the sole purpose of honouring your choices.

If we have your tax identification number (such as your social insurance number or social security number) and you hold a product generating income, we may use it for tax related purposes and share it with the appropriate government agencies.

We may also use automated processing to make decisions about you, including underwriting and claims adjudication, where applicable.

Please note that this paragraph is not applicable if this form is submitted by an independent representative or a representative that is attached to a firm other than RBC Insurance®.

Other uses of your personal information

  • We may use this information to promote our products and services, and promote products and services of third parties we select, which may be of interest to you. We may communicate with you through various channels, including telephone, computer or mail, using the contact information you have provided.

  • We may also, where not prohibited by law, share this information with RBC companies for the purpose of referring you to them or promoting to you products and services which may be of interest to you. We and RBC companies may communicate with you through various channels, including telephone, computer or mail, using the contact information you have provided. You acknowledge that as a result of such sharing, they may advise us of those products or services provided.

  • If you also deal with RBC companies, we may, where not prohibited by law, consolidate this information with information they have about you to allow us and any of them to manage your relationship with RBC companies and our business.

You understand that we and RBC companies are separate, affiliated corporations. RBC companies include our affiliates which are engaged in the business of providing any one or more of the following services to the public: deposits, loans and other personal financial services; credit, charge and payment card services; trust and custodial services; securities and brokerage services; and insurance services.

You may choose not to have this information shared or used for any of these “Other uses” by contacting us as set out below, and in this event, you will not be refused insurance products or services just for that reason. We will never use or share your health information for these purposes. We will respect your choices and, as mentioned above, we may share your choices with RBC companies for the sole purpose of honouring your choices regarding “Other uses of your personal information”.

All collection, use, and sharing of your personal information will be in accordance with our Global Privacy Notice and Digital Channel Privacy (available at www.rbc.com/privacysecurity), which form part of these terms

Your right to access your personal information

You may obtain access to the information we hold about you at any time and review its content and accuracy, and have it amended as appropriate; however, access may be restricted as permitted or required by law. To request access to such information, to learn more about our use of automated processing, to ask questions about our privacy policies or to request that the information not be used for any or all of the purposes outlined in “Other uses of your personal information” you may do so now or at any time in the future by contacting us at:

RBC Life Insurance Company
P.O. Box 515, Station A,
Mississauga, Ontario
L5A 4M3
Telephone: 1-800-663-0417
Facsimile: 905-813-4816

Our Privacy Notices

All collection, use, and sharing of your personal information will be in accordance with our Global Privacy Notice and Digital Channel Privacy (available at www.rbc.com/privacysecurity), which form part of these terms

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By submitting this form, you consent to use the details you provided here to generate your insurance quote. Your information is securely stored and protected. Check our Global Privacy Notice.

Your critical illness insurance recommendation

Analyzing your detailsCalculating recommendation

Suggested minimum coverage amount

$ 00,000 $
Edit selections
  • Lost income for 12 months$00,000
  • Essential expenses for 12 months$00,000
  • Recovery expenses$00,000
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Licensed advisors are here to help

They’ll give you personalized advice about critical illness insurance, including pricing and plan options.

Learn more about critical illness insurance

You can also all us at 1-866-262-7922

(Mondays to Fridays, 9am – 5pm EST)

Our critical illness insurance plans

Critical illness insurance

Most popular

Renewable Term

Flexible coverage renewable every 10, 15, or 20 years, until age 75—so you can adapt your coverage as your life changes.

Ideal if you

Want term coverage with flexibility to renew as your needs change

Are earlier in your career or have a financial commitment like a mortgage or car loan

Want lower premiums with the option to convert to longer term coverage

Critical illness insurance

Level Premium to Age 75

Comprehensive critical illness insurance coverage with fixed premiums to age 75 and flexible payment options.

Ideal if you

Need to protect your income and financial obligations leading up to retirement

Want long-term coverage to maintain your standard of living

Value knowing exactly what your coverage costs

Critical illness insurance

Level Premium to Age 100

Comprehensive critical illness insurance coverage with fixed premiums to age 100 so your protection stays in place no matter where life takes you.

Ideal if you

Want lifelong coverage, no matter how your health or circumstances change

Need to protect long-term financial obligations or dependents

Value the certainty of fixed premiums on a plan that stays with you for life

Focus on recovery, not finances

The critical illness benefit is a lump-sum payment designed to give you financial flexibility.

  • Replace lost income from work

  • Cover out-of-pocket costs

  • Pay your mortgage and household bills

What our customers are saying

Kimberly S.

New Brunswick

The advisor was a delight to work with. I feel like he sold me exactly what I needed, and was considerate of my budget.

Alice S.

Ontario

They were professional and knowledgeable, which helped in my decision-making. Making a non-rushed, informed decision is very important to me.

Hristina T.

British Columbia

I went with RBC Insurance because of the service I received. They were amazing, easy-to-reach, and answered all my questions.

Frequently asked questions about critical illness insurance

A critical illness insurance calculator can help you estimate how much critical illness coverage you might need if you were diagnosed with a serious illness. You could require specialized treatments, time off work, accommodations in your home, or help with self-care. This calculator helps you get an idea of how much these expenses might cost and what amount you might want your insurance policy to pay out to help you cover them comfortably.

Critical illness insurance premiums are based on factors such as your age, the lump-sum payout amount you choose, your overall health at the time of application, and how long the coverage will be in place. Your premium may be fixed or variable, depending on your policy.

The more coverage you want, the higher the premiums you’ll have to pay. Working with a licensed insurance advisor can help you get the right level of coverage for your unique situation.

There’s no one-size-fits-all rule for how much critical illness coverage you need, but a good starting point is to have enough to cover at least 12 months of salary, essential expenses, and extra costs associated with a critical illness.

Having this financial safety net can help you focus on your recovery instead of worrying about your financial obligations.

Whether critical illness insurance is worth it will depend on individual and financial factors, including your age, health, family medical history, lifestyle, and occupational risks, existing insurance coverage, and your financial situation. This insurance can be especially beneficial for primary breadwinners, caregivers, self-employed people, and business owners.

Depending on the type of Return of Premium benefit you add and how long your critical illness insurance policy stays active, you can receive up to 100% of your paid premiums back.1

There are three types of Return of Premium benefits:

1. Return of Premium on Surrender (ROPS)
If you no longer need coverage, ROPS lets you cancel your policy and receive up to 100% of your paid premiums back. The percentage of eligible premiums returned varies depending on the specific Return of Premium Surrender option selected and the policy year the surrender occurs.

2. Return of Premium on Expiry (ROPE)
With ROPE, you can receive all your paid premiums back in a lump sum if your policy expires without making a claim.

3. Return of Premium on Death (ROPD)
If you pass away while your policy is in effect, having ROPD means your named beneficiary or recipient can receive 100% of your paid premiums.

Book a call with an advisor

Review your quote with our licensed RBC advisors to get expert advice on the most suitable coverage based your needs.

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