RBC Insurance is one of the leading providers of disability insurance in Canada. Their disability insurance coverage is designed to protect your income in the event of a disability or serious illness. To get the most out of their disability insurance coverage, it is important to understand the various forms associated with it. This guide will provide an overview of the most common forms associated with RBC’s disability insurance.
Application for Disability Insurance
The first form you will need to fill out is the RBC Disability Insurance application form. This form requests basic information about you, such as your date of birth, address, and phone number. It also requires you to provide information about your current employment and income, as well as any past or current disabilities or illnesses. This form is required to get a quote for disability insurance coverage.
Insurance Contract
The insurance contract is the document you will receive once you have been approved for coverage. This document outlines the exact terms and conditions of your coverage, including the amount of coverage, the term of the policy, and any exclusions or limitations. It is important to read and understand this document before signing it, as it is a legally binding contract.
Monthly Premium Payment Form
The Monthly Premium Payment form is used to set up the payment plan for your disability insurance coverage. This form will include the amount of your monthly premium, as well as the method of payment. You will also need to provide information on the payment plan, such as the frequency of payments and the date on which the payments are due.
Claims Forms
If you ever need to file a claim for your disability insurance coverage, you will need to fill out a claims form. This form requires detailed information about the disability or illness, including the date it began, the symptoms, and any medical treatment you have received. You will also need to provide proof of your income, such as a pay stub or tax return.
Waiver of Premium Form
The Waiver of Premium form is used to suspend your monthly premium payments in the event of a disability or serious illness. This form must be completed and submitted to RBC Insurance along with the documentation verifying your disability or illness. Once approved, your premium payments will be suspended until the disability or illness is resolved.
Reinstatement Form
When your disability or illness has resolved, you will need to submit a Reinstatement form to RBC Insurance. This form will request information about the date the disability or illness was resolved and the date you are able to return to work. Once approved, your monthly premium payments will be resumed and your coverage will be restored.
Cancellation Form
If you decide to cancel your disability insurance coverage with RBC Insurance, you must fill out a Cancellation form. This form will request information about the date you wish to cancel your coverage and the reason for the cancellation. Once approved, your coverage will be cancelled and you will no longer be responsible for paying premiums.
Conclusion
RBC Insurance’s disability insurance coverage provides invaluable protection in the event of a disability or serious illness. To get the most out of this coverage, it is important to understand the various forms associated with it. Understanding these forms and the information they request can help you make the most of your disability insurance coverage.
