{"id":32311,"date":"2025-11-26T16:37:23","date_gmt":"2025-11-26T21:37:23","guid":{"rendered":"https:\/\/silver.rbcinsurance.com\/en-ca\/?p=32311"},"modified":"2026-02-03T14:52:58","modified_gmt":"2026-02-03T19:52:58","slug":"guaranteed-life-insurance-how-it-works","status":"publish","type":"post","link":"https:\/\/silver.rbcinsurance.com\/en-ca\/advice-learning\/life-insurance\/guaranteed-life-insurance-how-it-works","title":{"rendered":"Guaranteed Life Insurance: Who It&#8217;s for and How It Works"},"content":{"rendered":"\n<div class=\"wp-block-rbc-template-selector templateSelector template__article articleSingle\" data-template=\"article\">\n<div class=\"wp-block-group articleSingle__container tabListStickyWrapper is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group articleSingle__container__hero is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group articleSingle__container__hero__inner is-layout-flow wp-block-group-is-layout-flow\">\n<span class=\"rbc-yoast-breadcrum-span\"><span><a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/\">Home<\/a><\/span><\/span>\n\n\n\n<div class=\"wp-block-group articleSingle__featuredImage__group is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group articleSingle__title__group is-layout-flow wp-block-group-is-layout-flow\"><h1 class=\"wp-block-post-title\">Guaranteed Life Insurance: Who It&#8217;s for and How It Works<\/h1>\n\n\n<div class=\"wp-block-group articleSingle__date__group is-layout-flow wp-block-group-is-layout-flow\"><div class=\"wp-block-post-date\"><time datetime=\"2025-11-26T16:37:23-05:00\">November 26, 2025<\/time><\/div>\n\n\n<span class=\"wp-block-rbc-html-element articleSingle__readTime\">11 Min Read<\/span>\n<\/div>\n\n\n\n<div class=\"wp-block-group articleSingle__author__group is-layout-flow wp-block-group-is-layout-flow\">\n<img decoding=\"async\" src=\"https:\/\/silver.rbcinsurance.com\/en-ca\/wp-content\/uploads\/sites\/2\/2021\/06\/Avatar.webp?quality=80&w=128&h=128&crop=1\" alt=\"Corrina Allen\">\n\n\n\n<div class=\"wp-block-group articleSingle__author__details is-layout-flow wp-block-group-is-layout-flow\">\n<span class=\"wp-block-rbc-html-element articleSingle__author__name\">Corrina Allen<\/span>\n\n\n\n<span class=\"wp-block-rbc-html-element articleSingle__author__designation\"><\/span>\n<\/div>\n<\/div>\n<\/div>\n\n\n<figure class=\"articleSingle__featuredImage wp-block-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/silver.rbcinsurance.com\/en-ca\/wp-content\/uploads\/sites\/2\/2021\/06\/Guaranteed-Life-Insurance.webp?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"A group of three female friends are sitting and laughing together, now that they have Guaranteed Life Insurance coverage.\" style=\"object-fit:cover;\" srcset=\"https:\/\/silver.rbcinsurance.com\/en-ca\/wp-content\/uploads\/sites\/2\/2021\/06\/Guaranteed-Life-Insurance.webp 1074w, https:\/\/silver.rbcinsurance.com\/en-ca\/wp-content\/uploads\/sites\/2\/2021\/06\/Guaranteed-Life-Insurance.webp?resize=300,200 300w, https:\/\/silver.rbcinsurance.com\/en-ca\/wp-content\/uploads\/sites\/2\/2021\/06\/Guaranteed-Life-Insurance.webp?resize=768,512 768w, https:\/\/silver.rbcinsurance.com\/en-ca\/wp-content\/uploads\/sites\/2\/2021\/06\/Guaranteed-Life-Insurance.webp?resize=1024,683 1024w, https:\/\/silver.rbcinsurance.com\/en-ca\/wp-content\/uploads\/sites\/2\/2021\/06\/Guaranteed-Life-Insurance.webp?resize=412,275 412w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure><\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-group articleSingle__container__main is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group articleSingle__container__page__nav is-layout-flow wp-block-group-is-layout-flow\">\t\t<div class=\"socials-block\">\n\t\t\t\t\t\t<p class=\"socials-block-title\">\n\t\t\tShare this article\t\t<\/p>\n\t\t<div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n\t\t\t\t\t<a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=Guaranteed Life Insurance: Who It&#8217;s for and How It Works &#038;body=Hi, I thought you might be interested in this article from RBC Insurance: https:\/\/silver.rbcinsurance.com\/en-ca\/advice-learning\/life-insurance\/guaranteed-life-insurance-how-it-works\">\n\t\t\t\t<img decoding=\"async\" src=\"https:\/\/silver.rbcinsurance.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n\t\t\t\talt=\"envelope icon\">\n\t\t\t\t<span>\n\t\t\t\tEmail\t\t\t\t<\/span>\n\t\t\t<\/a>\n\t\t<div class=\"social-button-wrapper sharing-copy-wrapper\">\n\t\t\t<button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/silver.rbcinsurance.com\/en-ca\/advice-learning\/life-insurance\/guaranteed-life-insurance-how-it-works\">\n\t\t\t<img\n\t\t\t\tsrc=\"https:\/\/silver.rbcinsurance.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n\t\t\t\talt=\"copy icon\">\n\t\t\t<span id=\"sharing-copyUrl-Label\">\n\t\t\t\tCopy URL\t\t\t<\/span>\n\t\t\t<\/button>\n\t\t\t<input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n\t\t<\/div>\n\t<\/div>\n  \t\t<\/div>\t\n\t\t\n\n\n<div class=\"wp-block-rbc-tabs-list tabsList\" data-switch=\"lgBp\" data-target-heading=\"h2\"><p class=\"tabsList__heading\">On this page<\/p><div class=\"tabsList__wrapper\"><button class=\"selectDropdown__button\" aria-haspopup=\"listbox\" aria-expanded=\"false\"><span class=\"selectDropdown__title\">What is guaranteed life insurance?<\/span><span class=\"selectDropdown__chevron\"><\/span><\/button><ul class=\"tabsList__items selectDropdown__list\"><li class=\"selectDropdown__list__item tabsList__item selected\"><a href=\"#h-what-is-guaranteed-life-insurance\">What is guaranteed life insurance?<\/a><\/li><li class=\"selectDropdown__list__item tabsList__item \"><a href=\"#h-how-does-guaranteed-life-insurance-work\">How does guaranteed life insurance work?<\/a><\/li><li class=\"selectDropdown__list__item tabsList__item \"><a href=\"#h-who-is-guaranteed-life-insurance-for\">Who is guaranteed life insurance for?<\/a><\/li><li class=\"selectDropdown__list__item tabsList__item \"><a href=\"#h-the-pros-and-cons-of-guaranteed-life-insurance\">The pros and cons of guaranteed life insurance<\/a><\/li><li class=\"selectDropdown__list__item tabsList__item \"><a href=\"#h-how-to-choose-the-right-guaranteed-life-insurance-for-you\">How to choose the right guaranteed life insurance for you<\/a><\/li><li class=\"selectDropdown__list__item tabsList__item \"><a href=\"#h-alternatives-to-guaranteed-life-insurance\">Alternatives to guaranteed life insurance<\/a><\/li><li class=\"selectDropdown__list__item tabsList__item \"><a href=\"#h-is-guaranteed-life-insurance-right-for-you\">Is guaranteed life insurance right for you?<\/a><\/li><li class=\"selectDropdown__list__item tabsList__item \"><a href=\"#h-faqs-about-guaranteed-life-insurance\">FAQs about guaranteed life insurance<\/a><\/li><\/ul><\/div><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-group articleSingle__content__main tabListHeadings is-layout-flow wp-block-group-is-layout-flow\">\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner \" style=\"border-radius:0x\">\n<p>How late is too late to think about purchasing a life insurance policy? Often, people feel like they\u2019ve waited too long \u2013 they\u2019re too old to be insurable or they aren\u2019t as healthy as they once were. Does this mean that qualifying for life insurance is no longer possible?<\/p>\n\n\n\n<p>The fact is, that there are different types of life insurance tailored to meet the unique needs of Canadians. Guaranteed life insurance is designed for people who might have difficulty in qualifying for traditional types of coverage. Guaranteed life insurance plans also offer some of the same benefits as traditional life insurance: a death benefit to help cover final expenses, financial assistance for our loved ones, and peace of mind.<\/p>\n\n\n\n<p>This article explains how guaranteed life insurance works, who can benefit from this kind of coverage, and why it might be the right type of life insurance plan for you.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-key-takeaways\">Key takeaways<\/h3>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Guaranteed life insurance policies do not require a medical exam or a health questionnaire and typically approval is guaranteed.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>This type of coverage is whole life coverage and does not come with term limits.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>The death benefit payout from a guaranteed life insurance plan can be used to cover end of life expenses, pay off debts, fund funeral costs, or leave a small legacy to a loved one.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Guaranteed life insurance is an ideal option for coverage if you are older or have a chronic or pre-existing health condition.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>While more accessible, guaranteed life insurance charge higher premiums and offer lower death benefit payouts compared to traditional life insurance.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-guaranteed-life-insurance\">What is guaranteed life insurance?<\/h2>\n\n\n\n<p>With a guaranteed life insurance plan, you won\u2019t be asked to undergo a medical exam or fill out a health questionnaire. As long as you meet the insurers\u2019 eligibility requirements, approval is guaranteed, making this type of policy a great choice for people who are older or those with certain health conditions. It\u2019s coverage that\u2019s accessible to many Canadians \u2013 even individuals who\u2019ve applied for other types of life insurance and been denied.<\/p>\n\n\n\n<p>Guaranteed life insurance plans like <a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/life-insurance\/guaranteed-life-insurance\/\" data-dig-id=\"LP-LifeInsurance-32311-71421f18\" data-dig-category=\"LP-LifeInsurance\" data-dig-action=\"link click\" data-dig-label=\"RBC Guaranteed Acceptance Life Insurance\" class=\"rbc-link-format\">RBC Guaranteed Acceptance Life Insurance<\/a>, are whole life insurance plans, providing coverage up until the time of your death. Unlike term life insurance, coverage does not expire at a certain term limit. Because guaranteed life insurance doesn\u2019t impose the same health restrictions that other plans do, the death benefit payout is lower compared to other types of policies, and the monthly or annual premiums are typically higher.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-does-guaranteed-life-insurance-work\">How does guaranteed life insurance work?<\/h2>\n\n\n\n<p>Guaranteed life insurance works the same way that many other types of whole life insurance policies do \u2013 it offers a death benefit payout to your beneficiaries when you die. That money can be used to cover end-of-life medical costs, pay for funeral and burial expenses, or support your loved ones\u2019 financial needs.&nbsp;<\/p>\n\n\n\n<p>Because medical underwriting isn\u2019t a requirement for coverage, guaranteed life insurance policies charge higher premiums than other types of life insurance plans. Coverage limits are also lower, ranging from a minimum of $5,000 to a maximum of $50,000. RBC\u2019s Guaranteed Acceptance Life Insurance offers a maximum of $40,000 in coverage.<\/p>\n\n\n\n<p>During the first few years of policy ownership your benefits may be limited. Some insurance providers will pay a reduced or graded death benefit if you die within this period, while others will refund the premiums you\u2019ve paid into the plan, beginning from the start of the policy up until the time of your death. An exception to this rule is if the policy holder were to die in an accident before their 85th birthday. In this case, providers like RBC Insurance would pay the <a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/advice-learning\/life-insurance\/life-insurance-vs-accidental-death-coverage\/\" data-dig-id=\"LP-LifeInsurance-32311-6e95259b\" data-dig-category=\"LP-LifeInsurance\" data-dig-action=\"link click\" data-dig-label=\"accidental death benefit\" class=\"rbc-link-format\">accidental death benefit<\/a>. The particular coverage you choose will list any exceptions or limitations in the coverage, so it\u2019s important to understand the terms of conditions.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-who-is-guaranteed-life-insurance-for\">Who is guaranteed life insurance for?<\/h2>\n\n\n\n<p>If you\u2019re someone who wants life insurance but is worried that you\u2019ve waited too long to apply or have some health concerns that would make you ineligible for coverage, a guaranteed life insurance plan could be the right solution for your needs. Guaranteed life insurance is ideal for:&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><a><\/a>People with pre-existing health conditions<\/h3>\n\n\n\n<p>Maybe you\u2019ve already applied for traditional whole life insurance and have had your application rejected due to a pre-existing health condition like cancer, diabetes, heart disease, epilepsy, or anxiety and depression. These common health conditions are seen as risks for insurance providers. While pre-existing health conditions don\u2019t always make you ineligible for coverage, they could require you to submit additional documentation to prove that your health condition is being treated or successfully managed.<\/p>\n\n\n\n<p>In some cases, chronic or pre-existing health issues can stand in the way of purchasing traditional types of life insurance. Guaranteed life insurance, however, is the exception since it doesn\u2019t require any medical information from an insurance company.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><a><\/a>Older adults<\/h3>\n\n\n\n<p>Seniors can benefit from guaranteed life insurance coverage because approval for coverage is available for those up to 75 or even 80 years of age, depending on your insurance provider\u2019s eligibility requirements. This makes it a <a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/advice-learning\/life-insurance\/best-life-insurance-options-for-seniors\/\" data-dig-id=\"LP-LifeInsurance-32311-b243fa4e\" data-dig-category=\"LP-LifeInsurance\" data-dig-action=\"link click\" data-dig-label=\"viable option for older adults\" class=\"rbc-link-format\">viable option for older adults<\/a> who want to make sure that their funeral or end of life medical costs are covered.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><a><\/a>People with no dependants<\/h3>\n\n\n\n<p>The death benefit payouts provided by guaranteed life insurance plans can provide sufficient coverage for people without financial dependents. The payout could then be used to cover any outstanding financial debts or leave a small legacy to a loved one.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><a><\/a>People looking to cover final expenses<\/h3>\n\n\n\n<p>A <a href=\"https:\/\/canadianfunerals.com\/differences-in-cost-between-burial-and-cremation-in-canada\/\" target=\"_blank\" data-dig-id=\"LP-LifeInsurance-32311-fa75628f\" data-dig-category=\"LP-LifeInsurance\" data-dig-action=\"link click\" data-dig-label=\"traditional funeral and burial in Canada\" class=\"rbc-link-format externalsite-link\" data-icon-class=\"externalsite-link\" rel=\"noreferrer noopener\">traditional funeral and burial in Canada<\/a> costs between $5,000 and $15,000. Many older Canadians worry about leaving their loved ones with this financial burden. The death benefit payout from your guaranteed life insurance plan can be used to cover these costs and other end-of-life expenses, lessening the financial strain on the people you love and providing you with the security that comes with knowing your final costs will be covered.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-the-pros-and-cons-of-guaranteed-life-insurance\">The pros and cons of guaranteed life insurance<\/h2>\n\n\n\n<p>Guaranteed life insurance offers both advantages and disadvantages that should be considered before choosing a coverage plan.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><a><\/a>Pros<\/h3>\n\n\n\n<p><strong>You won\u2019t need to have a medical exam<\/strong>: Your approval isn\u2019t based on your health status, even if you have a chronic or pre-existing illness.<\/p>\n\n\n\n<p><strong>The application process is simple and straightforward<\/strong>: You should be approved quickly and won\u2019t be required to complete extensive paperwork.<\/p>\n\n\n\n<p><strong>Financial security<\/strong>: You won\u2019t have to worry about your family bearing the financial burden of the cost of a funeral \u2013 your final expenses will be covered.&nbsp;<\/p>\n\n\n\n<p><strong>Guaranteed acceptance<\/strong>: Even if you don\u2019t qualify for other types of life insurance, guaranteed life insurance offers you protection and peace of mind.<\/p>\n\n\n\n<p><strong>Your premiums are fixed:<\/strong> You won\u2019t have to worry about the cost of your plan increasing as you get older or experience any health issues.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><a><\/a>Cons<\/h3>\n\n\n\n<p><strong>You\u2019ll pay higher premiums<\/strong>: Guaranteed life insurance plans result in more expensive premiums because of the lack of medical underwriting and health information provided by the policy holder.<\/p>\n\n\n\n<p><strong>Coverage is limited<\/strong>: Your death benefit payout is usually lower than the amount you\u2019d receive with a traditional life insurance policy. It may not be the best option for people with dependents or significant financial obligations.<\/p>\n\n\n\n<p><strong>The death benefit is graded<\/strong>: During the first few years of coverage there will be a waiting period during which time your beneficiary would not receive the full death benefit if you were to pass away. <\/p>\n\n\n\n<p><strong>It\u2019s not the best choice for young, healthy individuals<\/strong>: Younger people who are in good health will likely find more affordable options that offer a greater degree of coverage in other types of life insurance products. Purchasing a guaranteed life insurance policy when you\u2019re young and healthy may result in you paying more into your plan than the death benefit pays out.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-to-choose-the-right-guaranteed-life-insurance-for-you\">How to choose the right guaranteed life insurance for you<\/h2>\n\n\n\n<p>If you\u2019ve decided that guaranteed life insurance is the best option for you, your next step is to choose a specific plan. Here\u2019s what to consider before signing on:<\/p>\n\n\n\n<p><strong>Carefully evaluate your needs and goals<\/strong>: What kind of end-of-life expenses are you anticipating? Do you want your death benefit to cover your burial costs, to pay off outstanding debts, or to act as a small legacy for your beneficiary?<\/p>\n\n\n\n<p><strong>Look at several different policies<\/strong>: Compare different premium rates and coverage limits across policies and factor in the terms outlined in the graded death benefit.<\/p>\n\n\n\n<p><strong>Read the fine print:<\/strong> Make sure that you understand the details of your policy\u2019s exclusions and limitations.<\/p>\n\n\n\n<p><strong>Get advice from an insurance professional:<\/strong> An accredited insurance broker is your best source of information on which policy serves your coverage needs and meets your financial goals.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-alternatives-to-guaranteed-life-insurance\">Alternatives to guaranteed life insurance<\/h2>\n\n\n\n<p>Age and health status don\u2019t always preclude individuals from being approved for other types of life insurance coverage or end of life financial planning. Here are three alternatives to consider:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><a><\/a>Simplified life insurance<\/h3>\n\n\n\n<p>Available as both whole life insurance and term life insurance, simplified life insurance will ask applicants to complete a short health questionnaire but doesn\u2019t require a medical exam. Compared to guaranteed life insurance, premium payments are typically lower, while coverage is more generous. One example is <a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/life-insurance\/term-life-insurance\/\" data-dig-id=\"LP-LifeInsurance-32311-8140746f\" data-dig-category=\"LP-LifeInsurance\" data-dig-action=\"link click\" data-dig-label=\"RBC Simplified\u00ae&nbsp;Term Life Insurance\" class=\"rbc-link-format\">RBC Simplified\u00ae&nbsp;Term Life Insurance<\/a>, which also offers an accidental death benefit payout.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><a><\/a>Group life insurance<\/h3>\n\n\n\n<p>Employers may offer group life insurance without the need for you to undergo a medical exam. These plans typically feature death benefit payouts that are significantly higher than the ones offered by guaranteed life insurance (though you may still need or want supplemental coverage based on your financial obligations). Be aware that this kind of coverage is frequently tied to your employment status. When you change jobs or retire, coverage can end.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><a><\/a>Prepaid funeral plans<\/h3>\n\n\n\n<p>Instead of investing in a life insurance policy to cover the costs of a cremation or burial, you might choose to purchase a prepaid service directly from a funeral home so that your final expenses are already taken care of and your end-of-life arrangements are decided upon in advance.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-is-guaranteed-life-insurance-right-for-you\">Is guaranteed life insurance right for you?<\/h2>\n\n\n\n<p>Guaranteed life insurance is a good option for obtaining coverage if you\u2019re older or have pre-existing or chronic health issues. It\u2019s ideal for those who have been denied coverage in the past due to health or age limitations. While premiums are typically higher and the death benefit payout lower, it still offers the security of knowing that your final expenses will be covered, leaving your loved ones free from the financial stress that can accompany end-of-life costs. It\u2019s important to take a close look at your needs and goals before choosing any insurance plan. A trusted insurance advisor can help to make sure you\u2019re well informed and able to make the best decision.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-faqs-about-guaranteed-life-insurance\">FAQs about guaranteed life insurance<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><a><\/a>How much does guaranteed life insurance cost?<\/h3>\n\n\n\n<p>Guaranteed life insurance is more expensive than traditional life insurance policies. Your premiums will be higher and linked to the amount of coverage you decide on. Premiums are determined based on age, your assigned sex or gender at birth, and whether you smoke.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><a><\/a>Can I get guaranteed life insurance with a pre-existing condition?<\/h3>\n\n\n\n<p>Yes. There are no medical exams or health questionnaires required. Guaranteed life insurance is a good choice for those with chronic or pre-existing health conditions.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><a><\/a>What happens if I stop paying my premiums?<\/h3>\n\n\n\n<p>If you don\u2019t pay your monthly or annual premiums your insurance policy may be cancelled.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><a><\/a>Can I increase my coverage amount later on?<\/h3>\n\n\n\n<p>Many insurance providers will allow you to add coverage at any time \u2013 up to the maximum amount their specific plans offer. Speak to your insurance provider to understand the details about increased coverage laid out in your preferred plan.<\/p>\n\n\n\n<div class=\"wp-block-rbc-section-inner-block  section-inner block-wpr bg-light-blue rounded-corners pos-rel pad-l pad-r mob-pad-r centered-block mob-pad-l pad-t mob-pad-t pad-b mob-pad-b\" style=\"border-radius:0x\">\n<h2 class=\"wp-block-heading has-text-align-center mar-t mar-b-hlf mob-mar-b-hlf mob-mar-t\" id=\"h-rbc-life-insurance\">RBC Life Insurance<\/h2>\n\n\n\n<p class=\"has-text-align-center mar-b-hlf mob-mar-b-hlf pad-r mob-pad-r pad-l mob-pad-l has-text-reg-font-size\">Protect Your Loved Ones With Dependable Life Insurance.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-a89b3969 wp-block-buttons-is-layout-flex\"><div>\n<div class=\"wp-block-button aligncenter btn is-style-primary primary\"><a class=\"wp-block-button__link has-text-lg-font-size has-custom-font-size wp-element-button\" href=\"https:\/\/silver.rbcinsurance.com\/life-insurance\/life-insurance-quote\/index.html\" rel=\"noreferrer noopener\" data-dig-id=\"LP-283-476a44f4\" 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<\/div><\/div>\n\n\n\n<p class=\"has-text-align-center mar-t-hlf mob-mar-t-hlf pad-b mob-pad-b has-text-reg-font-size\"><a href=\"https:\/\/silver.rbcinsurance.com\/en-ca\/life-insurance\/\" data-dig-id=\"LP-273-18de2c2e\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Learn More\" class=\"rbc-link-format\">Learn More<\/a><\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapse2de7ba0a\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapse2de7ba0a\" data-dig-id=\"LP-10384-2de7ba0a\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Things Our Lawyers Want You to Know\"><div>Things Our Lawyers Want You to Know<\/div><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapse2de7ba0a\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p class=\"has-text-sm-font-size\">*Home and auto insurance products are distributed by RBC Insurance Agency Ltd. and underwritten by Aviva General Insurance Company. In Quebec, RBC Insurance Agency Ltd. Is registered as a damage insurance agency. As a result of government-run auto insurance plans, auto insurance is not available through RBC Insurance in Manitoba, Saskatchewan and British Columbia.<\/p>\n\n\n\n<p class=\"has-text-sm-font-size\">This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\n\n<\/div>\n<\/section>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>How late is too late to think about purchasing a life insurance policy? Here\u2019s why a guaranteed insurance plan that doesn\u2019t require a medical exam may be the right choice for you.<\/p>\n","protected":false},"author":208,"featured_media":32284,"comment_status":"open","ping_status":"open","sticky":false,"template":"templates\/new-rbci-design.php","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[54],"tags":[61,4],"article-type":[80],"ppma_author":[169],"class_list":["post-32311","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-life-insurance","tag-guaranteed-life-insurance","tag-life-insurance","article-type-advice-learning"],"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>Guaranteed Life Insurance: Who It&#039;s for and How It Works | RBC Insurance<\/title>\n<meta name=\"description\" content=\"How late is too late to think about purchasing a life insurance policy? 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