Key Takeaways
- RBC offers seven different health insurance plans across disability, critical illness, and hospital insurance categories.
- You cannot purchase a standalone health and dental insurance plan from RBC; this is only offered through group coverage.
- RBC Insurance offers excellent financial stability and a strong reputation, but customers say the company suffers from poor customer service and claims handling.
Overview of RBC health insurance
RBC offers targeted health insurance products like disability, critical illness, and hospital coverage, but doesn’t provide standalone health and dental plans. This review breaks down RBC’s coverage options, key features, and how they compare to other providers in Canada.
We took a close look at leading health insurance providers in Canada to assess their plans and benefits. Here’s an overview of how RBC health insurance stacks up:
Category: Bank
Types of coverage: Critical illness, Disability, Long-term, Travel health
Customer experience score: 3.43/5
Industry reputation score: 4.03/5
Awards:
- Canada's Best Diversity Employers, Top Employers for Young People 2025
- Great Place to Work (Best Workplaces, Best Workplaces for Women) 2024
- Best Places to Work for Disability Inclusion 2024
- JD Power Highest in Bank Customer Satisfaction 2024 (4th consecutive year)
- Most Valuable Brand in Canada 2024
- JD Power Best in Banking Mobile App and Online Banking Satisfaction 2024
- Best Workplaces in Canada 2023
- Top 100 Employers in Canada 2023
- Best Private Bank in Canada 2023
We analyzed health insurance plans from nearly 20 different providers across Canada, evaluating each based on product variety, affordability, customer experience, and industry reputation. This included a breakdown of monthly premiums for 35- and 60-year-old policyholders, average cost per $100 of coverage, and what each plan includes. To assess customer experience, we reviewed feedback from platforms like Google, BBB, Insureye, Trustpilot, and Reviews.io. Lastly, we rated each company’s industry reputation using financial stability scores, employee satisfaction (via Glassdoor), and rankings from the Leger Corporate Reputation Study.
Key features of RBC’s health insurance plans
RBC’s health insurance coverage varies significantly depending on which type you need. That said, there are some common features across the health insurance product offerings:
- Tax-free payouts
- Customizable benefit amounts and coverage terms
- Optional add-ons or policy riders
- Renewable coverage (age depends on plan)
- Available with or without employer coverage
- Plan options that don’t require medical exams
Learn more: What does health insurance cover?
Pros and cons of RBC health insurance
While the idea of choosing a reputable big bank for your insurance needs might be tempting, there are some important considerations before you commit to a policy with RBC. Here’s an overview of the good and the bad.
- Backed by one of Canada’s largest and most trusted financial institutions
- Offers all three health-related insurance options
- Customizable plans
- Standalone coverage that’s excellent for contract or self-employed workers
- Online policy management
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No standalone health and dental coverage
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Premiums are typically on the higher side
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Limited no-medical options
Types of RBC health insurance
RBC doesn’t offer a “health plan” outside of group benefits, but instead focuses on specific areas, such as critical illness and disability. Here are your options:
RBC disability insurance
There are seven plans for disability coverage with RBC:
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RBC Simplified Disability Insurance
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Self-employed, contract, or a part-time workers (30 hours/week or more)
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- Available for ages 18-55
- Premiums starting at $10.50/month
- Tax-free monthly benefit of $500, $1,000, or $1,500
- No medical exam
- Guaranteed renewable to age 65
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The Fundamental Series
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Self-employed, contract, or a part-time workers
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- Available for ages 18-64 (illness) and 18-69 (injury)
- Partial and total disability benefits
- Optional illness coverage
- Return-to-work assistance
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The Professional Series
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Business owners, executives, etc. with high incomes
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- Available for ages 18-60
- Partial, total, and residual disability benefits
- Benefits for 2 years, 5 years, or until age 65
- Return-to-work assistance
- Two premium options: level (don’t change) and step-rate (pay less at the beginning)
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Quantum
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Business owners, executives, etc. with high incomes
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- Available for ages 18-60
- Specified monthly benefit
- Benefits for 2 years, 5 years, or until age 65
- Return-to-work assistance
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The Foundation Series
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Small-business owners, tradespeople, farmers, middle-income earners
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- Available for ages 18-60
- Total disability benefits
- Benefits for 2 years, 5 years, or until age 65
- Return-to-work assistance
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The Bridge Series
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Small-business owners, tradespeople, farmers, middle-income earners
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- Available for ages 18-60
- Similar to The Foundation Series but lower cost
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Retirement Protector
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Contributors to an RSP without a company pension plan
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- Available for ages 18-55
- RSP contributions
- Guaranteed renewable to age 65
- Benefits for 10 years or to age 65
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RBC critical illness insurance
RBC has two critical illness insurance plans: a budget-friendly plan and a plan that offers substantially more coverage.
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Ideal for
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Affordable coverage for common illnesses
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Substantial coverage for wide range of illnesses and conditions
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Eligibility
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Ages 18-50
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Ages 18-65
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Type of policy
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10-year term policy, renewable to age 65 (premiums change every 10 years)
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10-year term renewable to age 75 (premiums change every 10 years)
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Lump-sum benefit
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$10,000, $25,000, $50,000, or $75,000
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$25,000 to $2 million
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Covered conditions
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Cancer, heart attack, stroke
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Over 30 serious illnesses and conditions
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Optional benefits
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Return of Premium on Death Benefit
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Long-term care conversion benefit
Convert to permanent until age 71 without medical
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Assistance services
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Teladoc Medical Experts+
Medical Confidence service
“The Healing Journey” program and early assistance benefit
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Teladoc Health
“The Healing Journey” program and early assistance benefit
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RBC hospital insurance
RBC offers two hospital insurance plans: the basic one covers hospitalization costs related to an accident, while the enhanced one covers accidents and illness.
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Ideal for
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Covering accidents only
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Covering accidents and sickness
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Eligibility
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RBC customer, Canadian citizen, ages 18-69
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RBC customer, Canadian citizen, ages 18-69
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Tax-free benefit
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Choice of $100, $150, or $200 per day of hospitalization due to accident
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Up to $200 per full day of hospitalization due to accident or sickness
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Spousal coverage
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Available for 18-74 years old
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Available for 18-74 years old
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Covered conditions
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Hospitalization resulting from an accident
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Hospitalization resulting from an accident or sickness (3-day elimination period)
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Maximum coverage
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365 days per condition
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365 days per condition
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Maximum benefit
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$146,000
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$73,000
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Exclusions
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Suicide, war, intoxication, drugs/poison (voluntary), criminal offense, high-risk activities, cosmetic surgery
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Pre-existing condition/sickness, suicide, war, intoxication, drugs/poison (voluntary), criminal offense, high-risk activities, cosmetic surgery
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How much does RBC health insurance cost?
The cost of RBC health insurance depends heavily on the type of plan you choose, your age, your health status, and the amount of coverage.
We got a quote for one of the more affordable disability plans, RBC Simplified Disability Insurance. Here’s what we found:
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35-year-old male
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$35.79
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35-year-old female
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$29.70
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55-year-old male
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$72.12
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55-year-old female
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$72.09
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Average
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$52.43
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Note: Quotes were for applicants in Ontario with a gross annual income of $75,000, resulting in a monthly benefit of $1,500. Quotes are for disability plans covering both injury and sickness. Premiums shown are before taxes.
Learn more: How much does health insurance cost in Canada?
Is RBC health insurance worth it?
RBC health insurance might be worth it if you value strong financial backing, coverage flexibility, and the ability to manage your policy online. That said, if you’re looking for a health insurance policy that covers standard health and dental, including paramedical, you won’t find it with a standalone RBC health insurance policy.
While we gave the bank a decent overall score for customer experience (3.43/5), customers note difficulties contacting RBC Insurance, as well as delays in the claims-handling process. If good service is a key factor for you, RBC might not be the best choice.
Ultimately, the provider that's truly “worth it” is the one that delivers the right coverage at a price that fits your budget. Be sure to compare health insurance quotes from other insurers to make sure you're getting the best value for the protection you need.
FAQ: RBC health insurance
Yes, RBC offers three types of health insurance coverage: disability insurance, critical illness insurance, and hospital insurance.
RBC is one of Canada’s big five banks and has excellent financial stability. That said, they have a limited selection of health insurance and customer reviews note concerns with customer service and claims handling.
