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Commercial Banking > Borrowing and Credit > Loans & Lines of Credit > Business Loan Insurance Plan

Business Loan Insurance Plan

Essential Life and Disability Coverage for Businesses with an RBC Royal Bank® Business Loan.

You've worked hard to build your business, and you know how vital it is to protect your investment—and the people you care about. That's why the RBC Royal Bank Business Loan Insurance Plan(1) makes such good sense.

Underwritten by Sun Life Assurance Company of Canada, it provides extra financial security to your business by helping to pay off or reduce your RBC Royal Bank business loan if you or a key employee pass away—or if a business owner becomes injured or disabled.

Learn more

 

Three Types of Protection Under One Plan

Business Loan Insurance Plan offers the following coverage to help protect your business:

  • Life Insurance Coverage - Should an owner, guarantor or key employee pass away, this valuable coverage provides up to $1,000,000—per insured person— against the qualifying balance to help pay off insured loans under the policy.
  • Disability Insurance Coverage - If a disability prevents an owner from working, the optional disability coverage can provides up to $7,000 per month towards all insured loans under the policy for up to 48 months.
  • Accidental Dismemberment Coverage - Included with your life insurance at no additional cost, this coverage pays up to $50,000 against insured loans if an insured person suffers an accidental dismemberment.
 
 

Contact Us

For more information

Contact your RBC Royal Bank Account Manager or call 1-800-769-2523 to speak with a representative at the Insurance Service Centre.

 

1) As with any insurance coverage, exclusions and limitations do exist. Please refer to the Terms and Conditions, or talk to your RBC Account Manager for more information.

 

Contact Us

Contact your RBC Royal Bank Account Manager or call 1-800-769-2520