{"id":21839,"date":"2024-12-16T09:11:44","date_gmt":"2024-12-16T14:11:44","guid":{"rendered":"https:\/\/silver.rbcinsurance.com\/en-ca\/?page_id=21839"},"modified":"2025-08-26T11:24:24","modified_gmt":"2025-08-26T15:24:24","slug":"types-of-life-insurance","status":"publish","type":"page","link":"https:\/\/silver.rbcinsurance.com\/en-ca\/life-insurance\/types-of-life-insurance\/","title":{"rendered":"The Types Of Life Insurance Explained"},"content":{"rendered":"\n<p class=\"mar-t-hlf mob-mar-t-hlf mar-b-0 mob-mar-b-0 mob-pad-t-qtr pad-b-0 has-text-xs-font-size\"><span class=\"rbc-yoast-breadcrum-span\"><span><a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/\">Home<\/a><\/span><\/span><\/p>\n\n\n\n<div class=\"wp-block-rbc-layout-selector layoutSelector layoutSelector__layout5 mar-t-0 mob-mar-t-0\">\n<div class=\"wp-block-group is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group layoutSelector__cards-container layoutSelector__is-flex layoutSelector__direction-row is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group flex-2\/3 is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group is-layout-flow wp-block-group-is-layout-flow\">\n<h1 class=\"wp-block-heading mar-b-hlf mob-mar-b-hlf mar-t-0 mob-mar-t-0\" id=\"h-the-types-of-life-insurance-explained\">The types of life insurance explained<\/h1>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-hlf\">Know you need life insurance, but not sure which type of coverage makes the most sense for you? This article will give you a quick rundown of the options so you can start to narrow down your choices. (If you\u2019re not yet familiar with the basics, check out <a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/life-insurance\/what-is-life-insurance\/\" data-dig-id=\"LP-21826-ceff1763\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"What is life insurance?\" class=\"rbc-link-format\">What is life insurance?<\/a> first.)<\/p>\n\n\n\n<p class=\"mar-b-hlf mob-mar-b-hlf\">There are different types of life insurance, but all coverage essentially falls under two main categories: <a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/life-insurance\/term-life-insurance\/\" data-dig-id=\"LP-21826-3f6584ba\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"term life insurance\" class=\"rbc-link-format\">term life insurance<\/a> and permanent life insurance like <a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/life-insurance\/whole-life-insurance\/\" data-dig-id=\"LP-21826-b7c36d9f\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"whole life insurance\" class=\"rbc-link-format\">whole life insurance<\/a>. There are specialty products, too, such as <a href=\"https:\/\/www.worldprotect.com\/life-insurance\/personal-accident-insurance.html\" data-dig-id=\"LP-21826-265d3f33\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"personal accident insurance\" class=\"rbc-link-format\">personal accident insurance<\/a>.<\/p>\n\n\n\n<p>Let\u2019s first look at the most popular type\u2014term life.<\/p>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-group flex-1\/3 is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-rbc-information-card informationCard\" style=\"--icon-url:url(undefined);background-color:#F7F8FA\">\n<div class=\"wp-block-group informationCard__content is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group informationCard__icon-group is-layout-flow wp-block-group-is-layout-flow\">\n<h4 class=\"wp-block-heading mar-l-hlf mob-mar-l-hlf mar-b-hlf mob-mar-b-hlf\" id=\"h-related-articles\">Related articles<\/h4>\n<\/div>\n\n\n\n<ul class=\"wp-block-list list-core-block second-level-inherit third-level-inherit is-style-blue-disc mar-l-hlf mob-mar-l-hlf\">\n<li><a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/life-insurance\/what-is-life-insurance\/\" data-dig-id=\"LP-21771-d9f2ee59\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"What is life insurance?\" class=\"rbc-link-format\">What is life insurance?<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/life-insurance\/how-does-life-insurance-work\/\" data-dig-id=\"LP-21771-4c2fc163\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"How does life insurance work?\" class=\"rbc-link-format\">How does life insurance work?<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/life-insurance\/how-much-life-insurance-do-i-need\/\" data-dig-id=\"LP-21826-f27d6b22\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"How much life insurance do I need?\" class=\"rbc-link-format\">How much life insurance do I need?<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/life-insurance\/reasons-to-get-life-insurance\/\" data-dig-id=\"LP-21826-7d91c5d9\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"4 reasons to get life insurance at any age\" class=\"rbc-link-format\">4 reasons to get life insurance at any age<\/a><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-rbc-faq faq mar-t-dbl mob-mar-t-dbl\"><div class=\"faq__content\">\n<div class=\"wp-block-rbc-rbc-collapsible-accordion accordion\" id=\"&quot;accordionSet1\">\n<div class=\"wp-block-rbc-rbc-collapsible-panel\"><div class=\"accordion-panel\"><button id=\"accordion-titlegqtrffei\" class=\"collapse-toggle collapsed\" data-target=\"#accordiongqtrffei\" data-toggle=\"collapse\" data-parent=\"#accordionSet1\" aria-expanded=\"false\" data-dig-id=\"LP-21839-c7fd4ee3\" aria-controls=\"accordiongqtrffei\" data-dig-category=\"LP\" data-dig-action=\"collapsible closed\" data-dig-label=\"Term life insurance - temporary, but affordable financial protection\" action-closed=\"collapsible closed\" action-opened=\"collapsible open\"><div>Term life insurance &#8211; temporary, but affordable financial protection<\/div><\/button><div class=\"collapse-content collapse\" id=\"accordiongqtrffei\" role=\"region\" aria-labelledby=\"accordion-titlegqtrffei\"><div class=\"collapse-inner\">\n<p>Simple, easy to buy and more affordable than permanent coverage, term life insurance is the crowd favourite in Canada.<\/p>\n\n\n\n<p>Term life insurance is designed to cover short-term needs, which means many people like to buy it for themselves when their kids are young, they share financial responsibilities with a spouse or partner, and\/or they\u2019re carrying debt, such as a mortgage. Think of it as a temporary safety net you place under your family\u2014it protects them against a financial catastrophe when they need it most.<\/p>\n\n\n\n<p>When you buy term coverage, you get to choose your \u201cterm\u201d. Most insurers offer plans with terms of 10 or 20 years. At RBC Insurance, you can choose a term from 10-40 years\u2014and anything in between.<\/p>\n\n\n\n<p>Although term life insurance is temporary, you can renew it after your initial term is up<sup><a href=\"#legal-1\" data-dig-id=\"LP-21839-bcd78b4e\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"1\" class=\"rbc-link-format\">1<\/a><\/sup> and your premium is locked in for the entire term; this means your cost can\u2019t go up for the entire term you\u2019ve chosen (let\u2019s say it\u2019s 20 years).<\/p>\n\n\n\n<p>If you want to renew your coverage after the 20-year term is up, Term life insurance has guaranteed renewal, regardless of your health. However, your premiums will be higher because they will be based on your new age. Most term policies also give you the option to convert to permanent coverage (such as universal life insurance) at a later time.<\/p>\n\n\n\n<p>Interested in term insurance? Explore <a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/life-insurance\/term-life-insurance\/\" data-dig-id=\"LP-21839-d51a2a96\" data-dig-label=\"your options\" data-dig-action=\"link click\" data-dig-category=\"LP\" class=\"rbc-link-format\">your options<\/a> at RBC Insurance or get a <a href=\"https:\/\/silver.rbcinsurance.com\/life-insurance\/life-insurance-quote\/index.html\" data-dig-id=\"LP-21839-8f8ac94d\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"quick quote\" class=\"rbc-link-format\">quick quote<\/a><sup><a href=\"#legal-2\" data-dig-id=\"LP-21839-8bea351c\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"2\" class=\"rbc-link-format\">2<\/a><\/sup> now.<\/p>\n<\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-rbc-rbc-collapsible-panel\"><div class=\"accordion-panel\"><button id=\"accordion-titlecojuqfpm\" class=\"collapse-toggle collapsed\" data-target=\"#accordioncojuqfpm\" data-toggle=\"collapse\" data-parent=\"#accordionSet1\" aria-expanded=\"false\" data-dig-id=\"LP-21839-04fe79ba\" aria-controls=\"accordioncojuqfpm\" data-dig-category=\"LP\" data-dig-action=\"collapsible closed\" data-dig-label=\"Permanent life insurance - lifelong financial protection\" action-closed=\"collapsible closed\" action-opened=\"collapsible open\"><div>Permanent life insurance &#8211; lifelong financial protection<\/div><\/button><div class=\"collapse-content collapse\" id=\"accordioncojuqfpm\" role=\"region\" aria-labelledby=\"accordion-titlecojuqfpm\"><div class=\"collapse-inner\">\n<p>Permanent life insurance is more expensive than term life, but it gives you coverage for a lifetime. Some permanent coverage even combines life insurance with the opportunity to build up savings within your policy\u2014called cash value or accumulation value\u2014that you can access later in life.<\/p>\n\n\n\n<p>These features and more make permanent life insurance ideal for covering long-term needs such as providing income to your spouse, paying for funeral expenses or passing on assets. For example, you can use permanent life insurance to help your kids cover the future taxes on a cottage you\u2019re planning to leave to them.<\/p>\n\n\n\n<p><strong>Here\u2019s a quick overview of each type of permanent coverage:<\/strong><\/p>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapse98e24ac9\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapse98e24ac9\" data-dig-id=\"LP-21839-98e24ac9\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Universal life insurance - lifetime coverage and a tax-smart way to invest\"><div>Universal life insurance &#8211; lifetime coverage and a tax-smart way to invest<\/div><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapse98e24ac9\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>With this type of coverage, a percentage of your premiums goes towards purchasing life insurance, while the rest is deposited into an investment account that builds cash value. Each time you pay your premium, your cash value has the opportunity to increase.<\/p>\n\n\n\n<p>As long as you don\u2019t take the money out, and remain within tax-exempt limits, it cannot be taxed, which can help your savings grow faster. If you do exceed tax-exempt limits, the overflow will go into a side account, which is taxable.<\/p>\n\n\n\n<p>Later in life, you can access the cash value that\u2019s accumulated in your policy to supplement your retirement income, help your kids pay for post-secondary education and more. See <a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/life-insurance\/reasons-to-get-life-insurance\/\" data-dig-id=\"LP-21839-a24bfffe\" data-dig-label=\"4 Reasons to Get Life Insurance at Any Age\" data-dig-action=\"link click\" data-dig-category=\"LP\" class=\"rbc-link-format\">4 Reasons to Get Life Insurance at Any Age<\/a> for more on this.<\/p>\n\n\n\n<p>Universal life insurance is known for its flexibility\u2014and it\u2019s often called \u201cadjustable\u201d life insurance for that reason. Here\u2019s just one example: you get two options with the death benefit. You can choose a fixed amount or an increasing protection death benefit that includes the death benefit plus your policy\u2019s cash value. You\u2019ll also get to choose how much you want to pay into your policy and how you pay your premiums.<\/p>\n\n\n\n<p>All of these choices make universal life more complex than other types of insurance, but also very customizable to your specific wants and needs.<\/p>\n\n\n\n<p>Learn more about <a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/life-insurance\/universal-life-insurance\/\" data-dig-id=\"LP-21839-6c73e56f\" data-dig-label=\"universal life insurance\" data-dig-action=\"link click\" data-dig-category=\"LP\" class=\"rbc-link-format\">universal life insurance<\/a> today and see what\u2019s offered at RBC Insurance.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapse01d4a830\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapse01d4a830\" data-dig-id=\"LP-21839-01d4a830\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Whole life insurance - lifetime coverage and guaranteed cash value\"><div>Whole life insurance &#8211; lifetime coverage and guaranteed cash value<\/div><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapse01d4a830\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>Similar to universal life insurance, but less complex (and less flexible), participating whole life insurance offers lifetime coverage, guaranteed cash value and the opportunity to earn dividends and share in the insurance company\u2019s profits. It\u2019s often used in estate planning to help protect a person\u2019s financial assets from risks such as market downturns, unnecessary legal fees and taxes.<\/p>\n\n\n\n<p>With whole life insurance, a portion of your premium pays for the cost of insurance and the rest goes into a savings\/investment account (managed by the insurer) where you can grow your guaranteed cash value. As with universal life insurance, you can access this cash value for anything you want\u2014cover unexpected expenses, supplement your income in retirement, start a business and more. Just keep in mind that any money you borrow will need to be paid back or it will reduce the death benefit for your beneficiaries.<\/p>\n\n\n\n<p>Learn more about <a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/life-insurance\/whole-life-insurance\/\" data-dig-id=\"LP-21839-a2d8f76c\" data-dig-label=\"whole life insurance\" data-dig-action=\"link click\" data-dig-category=\"LP\" class=\"rbc-link-format\">whole life insurance<\/a> offered at RBC Insurance.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapseda41afcd\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapseda41afcd\" data-dig-id=\"LP-21839-da41afcd\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Term 100 life insurance - simple lifetime coverage\"><div>Term 100 life insurance &#8211; simple lifetime coverage<\/div><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapseda41afcd\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>Term 100 is the most straightforward type of permanent life insurance. Coverage is for life\u2014the insurance company cannot cancel or change your coverage\u2014and your premiums will never go up.<\/p>\n\n\n\n<p>It\u2019s more expensive than shorter term policies (like term 10 or 20), but less expensive than universal or whole life insurance because it doesn\u2019t include the option to build cash value.<\/p>\n\n\n\n<p>Learn more about <a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/life-insurance\/term-100-life-insurance\/\" data-dig-id=\"LP-21839-005f7ff4\" data-dig-label=\"term 100 life insurance\" data-dig-action=\"link click\" data-dig-category=\"LP\" class=\"rbc-link-format\">term 100 life insurance<\/a> offered at RBC Insurance.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapse9386a234\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapse9386a234\" data-dig-id=\"LP-21839-9386a234\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Guaranteed acceptance life insurance\"><div>Guaranteed acceptance life insurance<\/div><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapse9386a234\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>Think \u201cguaranteed acceptance\u201d with no medical exam or health questions to answer sounds too good to be true? This type of coverage actually does exist.<\/p>\n\n\n\n<p>To apply for this type of coverage, you\u2019ll need to be 40 or 50+, depending on the insurer (at RBC Insurance, you can apply if you\u2019re 40-75 and a Canadian citizen).<\/p>\n\n\n\n<p>Since available coverage amounts are usually small\u2014$5,000 to $40,000, for example\u2014this insurance is often used to supplement existing life insurance for added security or to leave a little money behind to cover funeral costs and final expenses.<\/p>\n\n\n\n<p>And since you don\u2019t have to take a medical exam or answer any health questions, it\u2019s typically very quick and easy to buy.<\/p>\n\n\n\n<p>Explore the benefits of <a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/life-insurance\/guaranteed-life-insurance\/\" data-dig-id=\"LP-21839-ca562873\" data-dig-label=\"RBC Guaranteed Acceptance Life Insurance\" data-dig-action=\"link click\" data-dig-category=\"LP\" class=\"rbc-link-format\">RBC Guaranteed Acceptance Life Insurance<\/a> for yourself or <a href=\"https:\/\/silver.rbcinsurance.com\/life-insurance\/guaranteed-acceptance-life-insurance-quote\/index.html\" data-dig-id=\"LP-21839-6a52c19f\" data-dig-label=\"get a quote\" data-dig-action=\"link click\" data-dig-category=\"LP\" class=\"rbc-link-format\">get a quote<\/a> now<sup><a href=\"#legal-2\" data-dig-id=\"LP-21839-0e0926b5\" data-dig-label=\"2\" data-dig-action=\"link click\" data-dig-category=\"LP\" class=\"rbc-link-format\">2<\/a><\/sup>.<\/p>\n<\/div>\n<\/div><\/div>\n<\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-rbc-rbc-collapsible-panel\"><div class=\"accordion-panel\"><button id=\"accordion-titleaz3s923u\" class=\"collapse-toggle collapsed\" data-target=\"#accordionaz3s923u\" data-toggle=\"collapse\" data-parent=\"#accordionSet1\" aria-expanded=\"false\" data-dig-id=\"LP-21839-e3f2e948\" aria-controls=\"accordionaz3s923u\" data-dig-category=\"LP\" data-dig-action=\"collapsible closed\" data-dig-label=\"Personal accident insurance\" action-closed=\"collapsible closed\" action-opened=\"collapsible open\"><div>Personal accident insurance<\/div><\/button><div class=\"collapse-content collapse\" id=\"accordionaz3s923u\" role=\"region\" aria-labelledby=\"accordion-titleaz3s923u\"><div class=\"collapse-inner\">\n<p>While it doesn\u2019t really fit into either the term or the permanent bucket, personal accident insurance has an important role to play.<\/p>\n\n\n\n<p>If you don\u2019t qualify for other types of life insurance because of health issues or a high-risk occupation, you may still be able to buy personal accident insurance.<\/p>\n\n\n\n<p>This coverage provides a benefit to your beneficiaries for a fatal accident only. Because the risks it covers is more limited, premiums are typically much lower than other types of life insurance. It\u2019s also easy to buy.<\/p>\n\n\n\n<p>RBC customer? You can enrol for RBC Royal Bank\u2019s <a href=\"https:\/\/www.worldprotect.com\/life-insurance\/personal-accident-insurance.html\" data-dig-id=\"LP-21839-81ebfb21\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Personal Accident Plan\" class=\"rbc-link-format\">Personal Accident Plan<\/a> online<sup><a href=\"#legal-3\" data-dig-id=\"LP-21839-7856b3e6\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"3\" class=\"rbc-link-format\">3<\/a><\/sup>\u2014your acceptance is guaranteed.<\/p>\n<\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-rbc-rbc-collapsible-panel\"><div class=\"accordion-panel\"><button id=\"accordion-titlef5u4perx\" class=\"collapse-toggle collapsed\" data-target=\"#accordionf5u4perx\" data-toggle=\"collapse\" data-parent=\"#accordionSet1\" aria-expanded=\"false\" data-dig-id=\"LP-21839-4266f941\" aria-controls=\"accordionf5u4perx\" data-dig-category=\"LP\" data-dig-action=\"collapsible closed\" data-dig-label=\"So... how do they all stack up?\" action-closed=\"collapsible closed\" action-opened=\"collapsible open\"><div>So&#8230; how do they all stack up?<\/div><\/button><div class=\"collapse-content collapse\" id=\"accordionf5u4perx\" role=\"region\" aria-labelledby=\"accordion-titlef5u4perx\"><div class=\"collapse-inner\">\n<p><a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/life-insurance\/compare-life-insurance\/\" data-dig-id=\"LP-21839-ffe234b4\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Click here\" class=\"rbc-link-format\">Click here<\/a> for a quick side-by-side look at the types of life insurance.<\/p>\n<\/div><\/div><\/div><\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-rbc-callout-card calloutCard calloutCard__image\" style=\"background-color:#F7F8FA\">\n<div class=\"wp-block-columns cols is-layout-flex wp-container-core-columns-is-layout-28f84493 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column col-left is-layout-flow wp-block-column-is-layout-flow\">\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-28f84493 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<h2 class=\"wp-block-heading\" id=\"h-still-have-a-few-questions\">Still have a few questions?<\/h2>\n\n\n\n<p class=\"rbc-override-margin p-large\">Connect with a life insurance advisor or get a quick life insurance quote now.<\/p>\n\n\n\n<div class=\"wp-block-group is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-buttons  get-your-free-quote is-layout-flex wp-block-buttons-is-layout-flex\"><div>\n<div class=\"wp-block-button btn is-style-primary primary\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/silver.rbcinsurance.com\/life-insurance\/life-insurance-quote\/index.html\" data-dig-id=\"LP-21839-7b6e90d8\" data-dig-category=\"LP\" data-dig-action=\"button click\" data-dig-label=\"Get a quote-https:\/\/silver.rbcinsurance.com\/life-insurance\/life-insurance-quote\/index.html \">Get a quote<\/a><\/div>\n\n\n\n<div class=\"wp-block-button btn is-style-secondary secondary\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/silver.rbcinsurance.com\/request-a-call\/personal-insurance\/contact-us\/index.html\" data-dig-id=\"LP-21839-7b6e90d8\" data-dig-category=\"LP\" data-dig-action=\"button click\" data-dig-label=\"Book a call-https:\/\/silver.rbcinsurance.com\/request-a-call\/personal-insurance\/contact-us\/index.html \">Book a call<\/a><\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-rbc-postal-code postal-code-form  postal-code\" data-custom-url=\"\"><div class=\"quote-form \"><div class=\"inputCode\"><label>Your postal code<\/label><input class=\"\" type=\"text\" value=\"\" placeholder=\"A1A 1A1\"\/><\/div><div class=\"inputCode\">\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\"><div>\n<div class=\"wp-block-button btn is-style-accent accent\"><a class=\"wp-block-button__link wp-element-button\" href=\"#\" data-dig-id=\"LP-21839-9da6e603\" data-dig-category=\"LP\" data-dig-action=\"button click\" data-dig-label=\"Get a quote-# \">Get a quote<\/a><\/div>\n<\/div><\/div>\n<\/div><\/div><div class=\"error-msg\"><span class=\"error-msg-span\">Please provide a valid postal code in A1A 1A1 format.<\/span><\/div><\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p>Need help now? <a href=\"tel:+18662237113\" data-dig-id=\"LP-21771-ad67c22b\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Call 1-800-461-1413\" class=\"rbc-link-format\">Call 1-866-223-7113<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-column col-right is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"606\" height=\"573\" src=\"https:\/\/silver.rbcinsurance.com\/en-ca\/wp-content\/uploads\/sites\/2\/2021\/06\/life-insurance-cta.webp?quality=80&amp;w=606\" alt=\"A father and son protected by life insurance\" class=\"wp-image-18133\" srcset=\"https:\/\/silver.rbcinsurance.com\/en-ca\/wp-content\/uploads\/sites\/2\/2021\/06\/life-insurance-cta.webp 606w, https:\/\/silver.rbcinsurance.com\/en-ca\/wp-content\/uploads\/sites\/2\/2021\/06\/life-insurance-cta.webp?resize=300,284 300w, https:\/\/silver.rbcinsurance.com\/en-ca\/wp-content\/uploads\/sites\/2\/2021\/06\/life-insurance-cta.webp?resize=412,390 412w\" sizes=\"auto, (max-width: 606px) 100vw, 606px\" \/><\/figure>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n<section class=\"wp-block-rbc-rbc-legal-collapsible disclaimer\" aria-label=\"Legal Disclaimers\"><div class=\"section-inner\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapseDisclaimer\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapseDisclaimer\" data-dig-id=\"LP-21839-9a1b5234\" data-dig-category=\"LP\" data-dig-action=\"legal close\" data-dig-label=\"legal close\" action-closed=\"legal close\" action-opened=\"legal open\" label-close=\"legal open\" label-open=\"legal close\"><span>View Legal Disclaimers<\/span><span>Hide Legal Disclaimers<\/span><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapseDisclaimer\"><div class=\"collapse-inner\"><div class=\"table-wpr\">\n<div class=\"wp-block-rbc-rbc-disclaimer-block\"><div class=\"table-row\" id=\"legal-1\"><div class=\"table-cell\"><span class=\"offscreen\">Legal Disclaimer<\/span><sup>1<\/sup><\/div><div class=\"table-cell\">\n<p>Some term life insurance policies can\u2019t be renewed beyond a certain age (usually age 80).<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-rbc-rbc-disclaimer-block\"><div class=\"table-row\" id=\"legal-2\"><div class=\"table-cell\"><span class=\"offscreen\">Legal Disclaimer<\/span><sup>2<\/sup><\/div><div class=\"table-cell\">\n<p>Online purchases will no longer be available to Quebec residents.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-rbc-rbc-disclaimer-block\"><div class=\"table-row\" id=\"legal-3\"><div class=\"table-cell\"><span class=\"offscreen\">Legal Disclaimer<\/span><sup>3<\/sup><\/div><div class=\"table-cell\">\n<p>Personal Accident Insurance is not available for online purchase in Quebec. Please contact us at 1-888-659-0099 and one of our advisors will be happy to assist you.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-rbc-rbc-disclaimer-block\"><div class=\"table-row\" id=\"legal-4\"><div class=\"table-cell\"><span class=\"offscreen\">Legal Disclaimer<\/span><sup>4<\/sup><\/div><div class=\"table-cell\">\n<p>The death benefit is only tax free if a beneficiary (i.e. not the estate) is designated.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-rbc-rbc-disclaimer-block\"><div class=\"table-row\" id=\"legal-5\"><div class=\"table-cell\"><span class=\"offscreen\">Legal Disclaimer<\/span><sup>5<\/sup><\/div><div class=\"table-cell\">\n<p>If the policy is still in force at age 100, coverage continues but premiums are no longer payable.<\/p>\n<\/div><\/div><\/div>\n<\/div><\/div><\/div><\/div><\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":196,"featured_media":0,"parent":13770,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"templates\/new-rbci-design.php","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-21839","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The Types Of Life Insurance Explained | RBC Insurance<\/title>\n<meta name=\"description\" content=\"Learn about different types of life insurance and find the right coverage for you and your loved ones including personal accident insurance.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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