RBC Insurance recently announced the release of its enhanced disability insurance product.

The product features a new long-term care conversion option for individual disability income protection plans.

The design is structured so that new disability income clients can conveniently convert their disability insurance coverage to a long-term care insurance policy between the ages of 55 and 65.

“This option is designed to adapt to the needs of clients as they age and their needs change,” says John Young, president and CEO of RBC Life Insurance Co. “New disability income clients now have the option to switch from protecting their income, during their prime wage-earning years, to a plan that will help secure their retirement nest egg when they get older.”

With no medical underwriting at the time of conversion, the disability insurance product can be seamlessly transitioned into a long-term care policy for clients looking to ensure their future qualification for long term care insurance.

“The costs associated with losing your working income or paying for long-term care are significant. This product offers the flexibility to provide dual protection for clients,” Young adds.