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August 10, 2004 at 08:00 PM
NU Online News Service, August 10, 2004, 10 a.m. EST
RBC Insurance is offering life insurance entirely on line, with no need for physical exams or agents.[@@]
The company, in Greenville, S.C., is a division of the Royal Bank of Canada, Toronto.
RBC says it is offering actual life insurance coverage online, not just a quote, in as little as 15 minutes, compared to up to 8 weeks for most life insurance policies.
Instant approvals are offered to “qualified applicants,” the company says.
The applicant goes to the company Web site, fills out a short application, answers a series of health-related questions, specifies form of payment and signs up electronically. An automated underwriting systems reviews the information and issues or denies the policy, generally within seconds, RBC says.
