- April 14, 2013
- Posted by: Brian Poncelet
- Category: Approved, Federal Politics, Life Insurance
OK, RBC is not the only guys who got a lot of PR problems, but RBC making big bucks treating staff like %$@& and having replaced them people paid 50% less just does not smell right!
Ok how does related to insurance?
Well one idea is to cut areas which cost the bank money…how about get rid of permanent coverage!
RBC is suspending new sales of its permanent insurance products effective June 23, 2012, citing the current economic and regulatory environment. http://www.advisor.ca/news/industry-news/rbc-exits-permanent-insurance-81965 SEE BELOW for more…
According to a document obtained by Advisor.ca, RBC indicates it will pull the following products:
RBC Universal Life
Long Term Care Insurance Plan
Critical Illness Recovery Plan Term 100
Critical Illness Recovery Plan Term 75 paid up at 65
Critical Illness Recovery Plan – Return of Premium on Surrender/Expiry riders
Term 100, Universal Life and Long Term Care will continue to be available for conversion.
RBC was not immediately available for comment.