NU Online News Service, Sept. 3, 2004, 3:10 p.m. EDT
RBC Insurance has started selling simplified-issue life insurance policies completely on-line.[@@]
RBC Insurance, Greenville, S.C., a unit of the Royal Bank of Canada, Toronto, is offering 10-year, 15-year and 20-year term policies with coverage amounts ranging from $25,000 to $150,000. Consumers can buy the policies in as little as 15 minutes, without the need for filling out extensive paperwork or taking physical exams, RBC says.
RBC is pitching the on-line policies to married couples, young families and business owners and employees.
RBC’s Liberty Life Insurance Company subsidiary is issuing the policies, and RBC is distributing the policies through a Web site run by miQuotes L.L.C., Overland Park, Kan.