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

Business Loan Insurance Plan

Protect What You've Put Into Your Business

You've worked hard to build a successful company that provides a secure lifestyle for your family, and for the partners and employees who make it run, so you can't afford to put your business at risk.

Business Loan Insurance Plan can help ensure the financial obligations of your business are met in the face of a key employee, partner or owner's critical illness or death, or when an owner becomes disabled as a result of illness or injury.

  • Normal business activities can continue
  • Minimize potential cash flow problems
  • Preserve your personal insurance for what it's intended protecting your family
  • Keep business investments and other assets intact

Three Types of Protection Under One Cost-Effective Plan

  1. Critical Illness Coverage with Life - Should an owner or key employee be diagnosed with a critical illness (heart attack, cancer or stroke), this valuable coverage provides up to $500,000 per insured person to help pay off outstanding loans.
  2. Disability Coverage with Life - If a disability prevents an owner from working, this coverage provides up to $7,000 per month for a maximum of 24 months per claim towards loan payments. There is a lifetime maximum of 48 months of Disability benefit payments per insured person.
  3. Life Insurance   Should an owner or key employee pass away, life insurance provides up to $1,000,000   per insured person   to help pay off outstanding loans.

Life insurance includes Accidental Dismemberment Coverage at no additional cost. This coverage can pay up to $25,000 against the outstanding balance of an insured loan if an injured person suffers an accidental injury resulting in the loss of sight in one eye or a single dismemberment. This benefit can double to $50,000 in the event the insured person suffers an accidental injury resulting in the loss of sight in both eyes or a multiple dismemberment.

Frequently Asked Questions

The RBC Royal Bank Business Loan Insurance Plan is underwritten by Sun Life Assurance Company of Canada.

The content of these pages is provided for informational purposes only and is not complete in detail. Coverage is governed by the terms and conditions of group creditor policies, 51000 for life and disability insurance and 57903 for critical illness insurance, underwritten and issued to Royal Bank of Canada by Sun Life Assurance Company of Canada. Please see the Business Loan Insurance Plan Terms and Conditions pdf or for Quebec residents, the Distribution Guide pdf for complete terms and conditions, including benefits and exclusions.


Contact Us

Contact your RBC Royal Bank Account Manager or call 1-800-769-2523


Need to make a claim?

To file a claim under your
business loan insurance plan
coverage, please call us
as soon as possible.