RBC calculator
RBC Life Insurance Calculator Canada
RBC HomeProtector Insurance can bundle mortgage life, critical illness, and disability protection around an RBC mortgage. Run the numbers before you compare it with personally owned term life.
What this RBC calculator is comparing
RBC describes HomeProtector Insurance as mortgage-balance protection for future what-ifs such as illness, disability, or unexpected loss of life. RBC also says borrowers can choose life insurance only or add critical illness or disability coverage.
The Financial Consumer Agency of Canada says optional mortgage life insurance may pay the mortgage balance to the lender, the lender is the beneficiary, and the death benefit usually decreases as the mortgage is paid down. FCAC also says term or permanent life insurance can keep the death benefit level and pay your named beneficiary directly.
That is the real comparison. Are you buying RBC loan-balance protection, or coverage your family controls even if you renew elsewhere, refinance, or need cash for more than the mortgage?
Free estimate
Calculate RBC HomeProtector vs term life
RBC is preselected. Adjust age, balance, smoking status, province, and years remaining to see the side-by-side estimate.
How to use the result safely
1. Separate the coverages
Life, critical illness, and disability respond to different events. Price and compare each RBC coverage line on its own.
2. Check payout control
If the benefit is directed to the mortgage balance, your household may still need flexible cash for income, childcare, tax, or transition costs.
3. Avoid a coverage gap
Keep existing RBC coverage active until any replacement term life policy is approved, accepted, and in force.
Sources checked: RBC HomeProtector Insurance and Financial Consumer Agency of Canada optional mortgage insurance guidance. This page is educational, not personalized insurance advice.