RBC just announced that they are withdrawing both their Term to 100 life insurance and their Universal Life insurance policies. Both of these products offered level insurance premiums for life – and they’re no longer available starting June 23. This is another in a line of insurance companies withdrawing their lower priced permanent life insurance polices as the result of the ongoing financial strife in the marketplace.
As I’ve mentioned before, if you are thinking about buying permanent or guaranteed level life insurance, now’s the time to lock it in. We’re rapidly approaching the time when these products will either be unaffordable or unavailable at all.
I’ve locked in a policy for myself and my family already, ensuring we’ll have the coverage at guaranteed rates going forward – no matter how volatile the financial industry is.