Life & Disability Insurance

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RBC Royal Bank^® Visa* CreditLine for Small Business™ Life & Disability Insurance Certificate

Important: This certificate of insurance is a valuable source of information. Please read this certificate of insurance carefully, and keep it in a safe place.

General Information
All Capitalized terms are defined in the "Definitions" section of this certificate of insurance.

Group Policy
The Canada Life Assurance Company (the "insurer") hereby certifies that according to the provisions of Group Policy No. G.60090 governing Life Insurance and Group Policy No. H.60090 governing Disability Insurance (each referred to as the "Group Policy") issued to Royal Bank of Canada Cardholders applying for the insurance are insured subject to the conditions set out below and in the application for insurance.

DEFINITIONS

"Cardholder" means a Permanent Resident of Canada to whom RBC Royal Bank^® Visa* has issued a CreditLine for Small Business™ card and who has chosen the Insurance Benefits Package.

"Disability", during the first 12 months, means a sickness, injury, mental illness or nervous disorder which completely prevents You from performing the essential duties of Your job in the business for which the RBC Royal Bank^® Visa* CreditLine for Small Business™ account was approved. After 12 months, disability means sickness, injury, mental illness or nervous disorder which completely prevents You from performing any occupation for which You are reasonably suited by education, training or experience.

"Monthly Disability Benefit" the amount insured and the amount of the benefit payable in the event of Disability is 2% of Your RBC Royal Bank^® Visa* CreditLine for Small Business™ outstanding account balance plus the monthly cost of insurance. The monthly amount payable shall in no event exceed $1,000 in respect of all of Your RBC Royal Bank^® Visa* CreditLine for Small Business™ accounts.

"Permanent Resident" means the Cardholder must reside in Canada for at least 6 months of the year.

"Recurring Disability" if you recover from a Disability but your Disability due to the same cause recurs within 21 days and endures for at least 5 business days, such Disability shall be regarded as a continuation of the previous Disability. This temporary period of recovery will be taken into account in measuring the Waiting Period and determining continuous disability.

"Qualifying Balance" means your RBC Royal Bank^® Visa* CreditLine for Small Business™ account balance outstanding on the date of death or the commencement date of Disability less amounts charged to the account subject to the pre-existing health condition exclusion.

"Waiting Period" means the first 60 consecutive days of your Disability or, in the case of a recurring Disability, the first 60 days of Disability plus the number of days in any temporary recovery period.

"Treatment" means advice, consultation, care, treatment, and/or service provided by a physician. This includes but is not limited to diagnostic measures, taking pills, injections or other medication for a condition.

"You", "Yourself" and "Your" refer to a person to whom Royal Bank of Canada has issued an RBC Royal Bank^® Visa* CreditLine for Small Business™ card.

COMMENCEMENT OF INSURANCE

Provided You met the eligibility requirements contained in the application for insurance, the insurance will be in effect on the latest of the following dates:

1. the RBC Royal Bank approves You as a Cardholder;
2. You apply for the Insurance Benefits Package; or
3. the date Your RBC Royal Bank^® Visa* CreditLine for Small Business™ account has an outstanding balance.

TERMINATION OF INSURANCE

Your insurance coverage will end on the earliest of:

1. the date Your RBC Royal Bank^® Visa* CreditLine for Small Business™ card is cancelled;
2. the date You choose to cancel the Insurance Benefits Package as part of the RBC Royal Bank^® Visa* CreditLine for Small Business™ account;
3. the date You declare bankruptcy or are declared bankrupt;
4. the date all or part of Your insurance premiums are 60 days overdue;
5. the date You become 65 years of age;
6. the date You die; or
7. the date the Group Policy terminates.

LIFE INSURANCE BENEFIT

When You die, the Insurer will pay to the Bank the Qualifying Balance relating to Your RBC Royal Bank^® Visa* CreditLine for Small Business™ as at the date of death. The maximum benefit payable in respect of all your RBC Royal Bank^® Visa* CreditLine for Small Business™ accounts will be the lesser of $50,000 or the Qualifying Balance or the individual authorized limit of Your RBC Royal Bank^® Visa* CreditLine for Small Business™ card.

DISABILITY INSURANCE BENEFIT

If You become disabled and remain continuously disabled throughout the Waiting Period, the Insurer will pay to the Bank on each subsequent card payment due date the Monthly Disability Benefit for as long as You remain continuously Disabled but only until:

1. the card payment due date next following the date Your Disability ends, Your return to work, or You become engaged in any other business, occupation or undertaking for wages or expectation of profit;
2. the date the Insurer makes the 60th payment on Your behalf;
3. the date the Qualifying Balance plus related interest has been paid;
4. the date Your RBC Royal Bank^® Visa* CreditLine for Small Business™ account balance has been repaid in full;
5. the card payment due date during the month in which You turn 65;
6. the date Your insurance coverage otherwise terminates.

Suicide Exclusion
The Insurer will not pay a benefit with respect to any charges made to Your RBC Royal Bank^® Visa* CreditLine for Small Business™ account within 2 years if You take Your own life, whether or not You were sane at the time.

Pre-Existing Health Condition Exclusion
If You have a pre-existing health condition, the Insurer will not pay benefits with respect to any charge to Your RBC Royal Bank^® Visa* CreditLine for Small Business™ account if You die or become Disabled within 12 months of the date such charge is being made and the primary or secondary cause of death or Disability is a condition for which You visited or consulted a physician, took tests, or received Treatment during the 12 months immediately before the date the charge was made to the RBC Royal Bank^® Visa* CreditLine for Small Business™ account.

Other Limitations and Exclusions
Benefits will not be payable for a Disability unless You are under the care of a physician (other than Yourself) licensed to practice medicine. In the case of Disability due to mental illness or nervous disorders (including anxiety, depression and behavioural disorders,) You must be under the continuing care of a specialist in psychiatry (other than Yourself).

Benefits will not be payable if Your Disability was directly or indirectly the result of any of the following:

1. intentionally self-inflicted injury while sane or insane;
2. war, insurrection or similar types of hostilities whether or not You were participating;
3. participation in any riot or civil commotion;
4. committing or attempting to commit a criminal offense;
5. pregnancy, other than physical complication of pregnancy;
6. alcoholism or drug addiction, unless You maintain satisfactory participation in a rehabilitation program approved by the Insurer and which You actively joined during the Waiting Period.

NOTICE AND PROOF OF CLAIM

Written proof of claim must be provided to the Insurer. Claim forms are available by calling the Assured Assistance Inc. at 1-800-554-5577. Death claims must be made within one year of the date of death.
Disability claims, including medical evidence (provided at Your expense), must be made within 150 days of the commencement of Disability. Failure to file initial proof or to provide continuing proof of Disability when requested by the Insurer will result in benefits not being paid. The Insurer at its own expense has the right to have You examined by a physician of its choice when and as often as is reasonable.

FREE LOOK PERIOD

Your Insurance coverage is voluntary. You can cancel Your application for insurance (and receive a full refund of any premiums charged) by sending a letter within 30 days of receiving this certificate of insurance by writing to the Bank or to the Insurer at the address below:

YOUR PRIVACY MATTERS TO US

At RBC Insurance Company of Canada, we're committed to protecting your privacy. We respect your privacy and want you to understand how we safeguard your personal information.

How we collect your information

We collect and keep information about you, which is needed to provide the products and services you request. We collect information from you, either directly or through our representatives. We may also need to collect information about you from sources such as hospitals, doctors and other health care providers, the government (including government health insurance plans) and governmental agencies, other insurance companies, travel suppliers, law enforcement representatives, private investigators, your family and friends, and any references you provide.

How we use your information

We use your information to provide the products and services you request, which includes using it to evaluate insurance risk, manage and co-ordinate claims, reprice medical expenses, and negotiate payment of expenses to third parties. We may also share your information with others who work for RBC Insurance Company of Canada or other RBC Financial Group^® companies, or with third parties, when it is necessary for the services we provide to you. Third parties may include other insurance companies, health organizations and the government (including government health insurance plans) and governmental agencies.

We may use your information internally, to prepare statistical reports that help us understand the needs of our customers and that help us understand and manage our business.

Other ways we may use your information

When you request products and services directly from RBC Insurance Company of Canada, there are other ways we may use your information. For example, we may use or share some of your information to help you find out about other products and services from RBC Insurance Company of Canada and other RBC Financial Group^® companies. However, we will never use or share your health information for these purposes. To better manage your relationship with other RBC Financial Group^® companies, and where the law allows us, we may consolidate the information we have about you with information held by the other group companies.

If, at any time, you decide that you do not want us to use your information as described above, please let us know by calling us at 1-800-464-3211.

Your right to access your information

You have the right to access the personal information that we have about you in your file. If we have information that is not correct, you can have it corrected.

To access your information or to ask us to correct your information, you can contact us at:

To access your information or to ask us to correct your information, you can contact us at:

If you would like more information about client privacy

RBC Financial Group publishes a brochure on client privacy. If you would like a copy of the brochure, you can contact us and we would be pleased to send one to you.

^® Registered trademarks of Royal Bank of Canada. RBC and Royal Bank are registered trademarks of Royal Bank of Canada. Used under license.

* Registered trademark of Visa International Service Association. Used under license.