General University Students

Save and prepare with the students saving program

How well have you protected yourself?

Life is unpredictable. Insurance transfers your financial risks even before you graduate.

The ideal time to get protection is while you are a student at an Ontario university because:

  • you pay less

  • you qualify more easily

  • you get a special exclusive offer

Since disability is your biggest risk before age 65, get disability insurance first. You can add critical illness insurance now too. You also qualify for student business overhead expense insurance now which covers loans while in school and business expenses after you start working.

Note: There are separate sites for medical students and engineering students.


Protect your income when you can't work.

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Critical Illness

What if you have a cancer, heart attack or stroke?

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Overhead Expenses

How do you pay your business overhead expenses when you can't work?

More details ...

Benefits of the RBC Student Savings Program

As long as you apply within 6 months after the date of your graduation from an Ontario university or completion of your training for a qualified occupation you can get:

  • Up to a 25% reduction in your RBC Disability Insurance (DI) and/or Student Business Overhead Expense (BoE) Insurance premiums. This discount also applies to future coverage increases using the Future Increase Option (FIO) rider. Discount depends on your area of study (see below).

  • No medical underwriting for Personal DI and Student BoE policies with monthly benefits of $6,000 or less.

  • No financial underwriting for Personal DI and Student BoE policies with monthly benefits under a stipulated maximum determined by area of study (see below).

  • The first purchase of each of Personal DI, Student BoE, and/or Critical Illness (CI) Insurance qualifies for five months of premiums waived after the first premium payment.

  • Preferred rates on RBC Travel Discovery Medical Insurance Plan

  • The Student BoE can cover up to $500 per month of student loan repayments if you're not currently responsible for business expenses - without you providing proof of student loans or eligible expenses at the time of underwriting or claim.

Apprentices in a qualifying program registered with a certified college or regulatory body can receive:

  • A 10% reduced premium in your RBC DI premiums

If you apply in the first seven to twelve months of practice, you get the same benefits minus any waived monthly premiums.

*If you're a medical student or practitioner look here for RBC's Medical Student Offer.

Waived Financial Underwriting Limits and Discount by Area of Study

RBC 2017 Student Savings Program - No Financial UW Limits.pdf

Note: More than these limits can be applied for, but you will need to provide proof of income and undergo financial underwriting if you apply for a larger amount. You will also need to go through medical underwriting if you apply for more than $6,000 of monthly benefit of Personal DI or Student BoE.

What about life insurance?

Death is the lowest probability risk before age 65 — much lower than the risks of a disability or critical illness. There's no harm in adding some coverage now. Why not start by first protecting against the more likely risks?

Once you start working, incur debt or have dependents, you can get life insurance — or add more life insurance.

Eligible students or graduates

  • Accountants (CA, CGA, CMA, CPA)

  • Actuaries (ASA, FSA)

  • Architects

  • Athletic Therapists

  • Carpenters*

  • Chiropodists

  • Chiropractors

  • Computer Industry

  • Dentists

  • Electricians*

  • Engineers (P. Eng.)

  • Lawyers, Quebec Notaries

  • MBA Program

  • Medical Doctors

  • Mechanics*

  • Naturopaths (ND)**

* These occupations are only eligible for the Student Savings Plan through The Foundation Series™, The Bridge Series® and The Fundamental Series®

** Must have a naturopathic degree from a school accredited by the Council of Naturopathic Medical Education.

*** Graduates from colleges of osteopathic medicine and recognized by the Canadian Osteopathic Association.

  • Occupational Therapists

  • Optometrists

  • Osteopathic Physicians***

  • Other Master’s Degree Program

  • Pharmacists

  • PhD Program

  • Physician Assistants/Nurses

  • Practitioners

  • Physiotherapists

  • Plumbers*

  • Podiatrists

  • Psychologists (PhD)

  • Registered Nurses

  • Speech Therapists

  • Veterinarians

Note: Graduating general dentists and chiropractors may aplly three months prior to completion of training.

What if I'm not listed?

If you're not listed, don't fret. You may still qualify for conventional disability insurance. Please arrange a chat.

You may be eligible for the discounts and provisions of the Student Savings Program (ask for details).

Arrange a chat

For personal attention, arrange a chat.

Reminder: this content is simplified for clarity. Also, products change. Please refer to the policy contract for specifics.