Life Insurance Reviews

RBC Insurance Life Insurance Reviews

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(20 reviews)
RBC Insurance
1.6 out of 5 stars:
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Never reply email, slow action

by ca9902 on Jul 21, 2021
1.5 out of 5 stars

I talked to customer service over the phone, and they told me to email them for my inquiry. I received the auto-reply told me they have received my email, but they never reply me with my questions. I wanna cancel my policy, they said they already received my request, in processing, however, it has been almost three weeks, nothing was done. I will never ever recommend RBC insurance to my friends.

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Terrible Service by Phone

by contactingmybrokerIguess on Feb 20, 2021
2.5 out of 5 stars

Today I saw my policy lapsed so I called to fix. My rep said I have a balance outstanding on account and can't reinstate. Fine, update card info to pay balance, requested new policy. Apparently they need to re-underwrite me because I "cancelled due to non-payment". To pursue or escalate call Monday, but they can't help now.

OK but I was never advised of this? I found it lapsed TODAY when I tried to update it. "We mailed out notices" - to the wrong address, even though I updated it when I last moved as usual. They updated the policy but not my profile. "But it's still your responsibility to pay." Except I thought was paid because I auto-pay (annually) and never received notice of an issue. I know I get digital copies so not receiving a physical wasn't a tip-off for me.

So I am a client who notices the lapse, calls immediately, pays the balance, requests a new policy with auto-pay, and this is the response? I am very disappointed in the accusative feel I received in my call today.

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Shady policies

by Sandra on Apr 19, 2019
1 out of 5 stars

I was having my life insurance charged monthly to my credit card when the expiry changed I called and updated my information. Unknown to me, until 2 months later RBC had lapsed my policy. Lapsed Feb. 13, I received a letter in the mail April 18th. Apparently, the charge did not go through on my updated credit card. After explaining to customer service this was not possible and there must have been a mistake, and asking what I could do to remedy the situation ( i.e. provide a credit card statement, reinstate my policy over the phone etc.) I was told by customer service that this was not their problem and that if I wanted to reinstate my policy I would have to fill in a bunch of paperwork and submit to a medical?! What a scam.

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Did you know that mortgage insurance is the same as life insurance but more expensive and offers less protection? By cancelling it and getting life insurance, you would typically save around 30%-40% for the same coverage.

Worst customer service

by Felicia on Apr 11, 2019
1 out of 5 stars

Outside of the fact, that it takes months to ever hear back from your own case employee, it took 4 months to set up my life insurance and I am still waiting to actually receive anything in the mail to confirm my insurance is, actually, in place (other than the fact that they have started withdrawing funds for this). Healthy female, no children, in my 20s, never smoked, have never done any drugs, drink infrequently. Just blown away by their utter incompetence and horrifying communication skills every step of the way. This company is an absolute scam and I will happily recommend anyone to use any other company when it comes to your insurance needs. Sad to say, but thanks to this horrific encounter, I will likely pull all of my insurance - home, auto (3 vehicles), and life, along with all of our bank accounts and go somewhere else. RBC does not deserve your business and they need to get their act together. They work for us, not the other way around.

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shady business practices

by unimpressedwithRBC on Jan 8, 2019
1 out of 5 stars

RBC told me they would let me know when my policy would take effect so I could cancel an existing policy I already had... but they waited 24 days to have me sign it, but still charged me as of the date they had written the policy. I ended up paying two premiums for a month. Very sketchy and unimpressed. Choose someone else!

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RBC life insurance half star

by Moe on Dec 19, 2018
1 out of 5 stars

A few weeks ago I thought that I might need life insurance, so I started to shop around till I found a policy called universal life insurance. I thought it works for me. I called the bank and I started following them to get this policy. Originally, online price was so low by the time I saw the bank rep. The prices jump up a little bit, which was ok. However, with final approval, the priced came to over 275. Then I asked how this happened, they said that the medical test shows a high blood pressure 172/92 (for which medication is required and I never ever had any meds for my blood pressure). Also, they said I'm overweight 240 pounds and I've passed on several places including my family doctor, only 219 pounds. I got nervous and I called my family doctor and requested a full physical test and everything was alright. We tried to inform them and they said they can't take any different result from my family doctor. And they approved me with 200%, which makes my policy rate jump above average - $2000 in total. So I have to pay $2000 for one year and after that, they will do the tests again. So here is the story, RBC insurance hired a company to do medical tests for their clients. This company has one mission - to find anything wrong with the client to be taken as a good excuse to put you on high rate insurance even if they will come with a broken scale to read your weight wrong or a blood pressure machine to read your blood pressure wrong. And no way you can even discuss this with the bank. I had to decline the policy and I decided to share this story with everyone so they will be careful. Thx

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Did you know there is a 35% chance of developing a critical illness before you are 65 and 65%-70% chance before you turn 81? That means getting a critical illness insurance quote is no less important than getting life insurance. Your choice.

Stay away!!

by Run!! on Sep 19, 2018
1 out of 5 stars

After getting life insurance I decided I didn't want it at that time. I called the company the following day to be transferred to 3 different people all in which said they were going to email my original sales representative. This phone call took up at least an hour and a half of my day. In the next 4 days, I received the life insurance package which I have cancelled. I called back to wait another hour to talk to yet another person that was going to email my original sales associate. At that time I demanded to talk to someone who could cancel it immediately. They gave me an email that I had to send an "I want to cancel " verification letter too. A few days later I received another package and a phone call asking what I thought. Again it was still not cancelled. A different email was given. This company is terrible!!

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RBC Insurance Fraud

by Randy on Jan 28, 2018
1 out of 5 stars

In 2015 the RBC on Dundas Street in Toronto fraudulently signed me up for life and disability insurance when I co-signed for my son's PLC. Insurance was neither asked for nor agreed to. I did discuss it in 2013 and declined it with the RBC. I have filed complaints with the RBC, the BBB in Toronto, and the FCAC. No resolution yet. Others are caught up in this scam. The funny thing is that one of the documents the RBC sent me virtually proves the fraud. It took months for the Bank to even admit there was even a complaint process! Do NOT take your business to this institution!

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Review topics

RBC ACCIDENT INSURANCE

by shamel on Jan 4, 2018
1 out of 5 stars

Canceled my account 3 times. They have taken payments out for 4 straight months in a row. Their certified agent Hisham told me that the person who called me when I ordered the accident insurance called me out and lied to me. I was promised I would receive a refund in 72 hours and they have now cancelled my insurance. The very next day $72.00 was taken out of my account and when I called I was told that they saw I had a refund coming in 10 days, not 72 hours as I was told. Another lie. Be really careful with these people. I am shocked that the Royal Bank would act in this very unscrupulous manner. Save yourself a lot of headaches and buy your insurance from a reputable company.

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Not sure if you can qualify for life insurance with existing health pre-conditions? Let us to help you with a no medical life insurance quote, meaning that you do not need to pass a medical exam to qualify for a life insurance policy.

Bad company

by jfjkdkh on Apr 11, 2017
1 out of 5 stars

Terrible services.I tried to cancel with them for 2 months received notification that the cancellation email was received and someone would get in touch with me.No one did, called again gave me the wrong cancellation email send it again with all the document and still waiting , i had to put a stop payment on my account.Never had an apology from a manager or anyone.When they call you and ask if your interested into life or health insurance just say no and hang up , waste of money and waste of time.

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