RBC Visitors Insurance Review

RBC Visitors Insurance

RBC Insurance, the insurance arm of the Royal Bank of Canada (RBC), was ranked the #1 Banking-based Insurance Brand Globally in 2015 by Brand Finance, an independent brand valuation firm that tracks top global companies. In November 2017, they revised their Visitors to Canada (VTC) insurance policy to place their brand in front of their online customers. As this is one of the largest financial brands available in Canada, we occasionally get asked to review how this coverage compares to the wide selection of policies we quote online.

Advantages

  • RBC is a well-known and trustworthy brand. This should mean that RBC will have proper policies and procedures for treating consumers fairly during claims administration.
  • Adequate secondary benefits (i.e., up to 3 follow-up visits after an emergency, emergency dental, repatriation, meals and accommodation, etc.).
  • Side trips outside Canada are covered if your trip starts and ends in Canada and your time in Canada is greater than the time you spent on your side trip.
  • RBC's Visitors to Canada policy covers stable (90 days) pre-existing medical conditions up to age 50 or even up to age 85 (180 days) with some restrictions (see below).

Disadvantages

  • As a well-known premium brand, this coverage is at a premium price compared to similar coverage from other VTC products we quote online. While no company offers the most competitive rates for all age groups, RBC's VTC coverage is often the more expensive price point, especially for Super Visa insurance coverage. 
  • Available only in $25,000, $50,000 and $150,000 sum insured amounts. This makes the policy quite expensive for Super Visa travellers as there is no $100,000 option. 
  • The $150,000 coverage amount is only available if you are under 70. Again, this indicates that they haven't designed the policy to fit a range of Super Visa applicants.
  • No trip break permitted. The policy ends on the date the insured leaves Canada to return to their home country. 
  • The policy has restrictions on coverage for pre-existing medical conditions. For example, for travellers over 49 years of age, heart and lung conditions will not be covered if certain medications have been taken to treat those conditions at any time during the 180 days prior to the effective date.
  • Only available before arrival in Canada or within 5 days of arriving in Canada.