If you don't smoke, lead a healthy lifestyle and have a positive family history, you may be eligible for preferential rates.
Your RBC Universal Life insurance policy allows you to choose the amount of the premium you assign to it, provided that this amount is greater than the minimum necessary to maintain the policy and less than the maximum amount to be respected in order to preserve the character not taxable from the police. (The minimum premium amount is specified in the policy, and the maximum changes each year depending on the capitalized value of your policy).
You can also choose the frequency and the allocation of your premiums, and it is up to you to decide how the sums will be invested.
We levy a tax on each premium payment and then allocate the balance to your policy's interest deposit options. Each month, we charge a large enough amount to cover the cost of insurance and guaranteed policy fees of $ 10 per month.
You can choose one of the following payment options:
- The option Insurance cost increasing annually is an “à la carte” pricing option. Costs are lower at the start, so a larger portion is allocated to the capitalized value of the policy. This option is perfectly suited if you want to increase the capitalized value of the policy and take full advantage of the tax benefits available to you.
- The option Uniform cost of insurance up to 100 years is a “prepay” option. A minimum premium is fixed for the duration of the policy. This option may be very suitable if you have less time to accumulate assets and if you wish to optimize the death benefit of the policy for estate planning purposes.
- You can choose the annual insurance cost option to build up the capitalized value of your policy for the first years, then switch to the uniform insurance cost option up to 100 years any time after the second year. contractual. This change will increase the premium since the new insurance rates will be based on your age at the time of the change.
You can pay your premiums monthly or annually.