Life Insurance Single Premium Rates - LoanProtector coverage of $100,000 or less
Personal Loans / Royal Credit Line
$.45 monthly premium per $1,000 of outstanding balance
Rates are converted from a monthly rate to a daily rate based on 365 days a year. Provincial sales tax will be added to your premium where applicable
Life Insurance Single Premium Rates - LoanProtector coverage over $100,000 Monthly premium per $1,000 of outstanding balance
Age
Personal Loans / Royal Credit Line
Under 31
$.12
31-35
$.19
36-40
$.29
41-45
$.41
46-50
$.54
51-55
$.68
56-60
$.81
61-65
$1.01
66-69
$1.32
Rates are converted from a monthly rate to a daily rate based on 365 days a year. Provincial sales tax will be added to your premium where applicable.
How will my disability insurance premium be calculated?
Disability insurance premiums rates are the same regardless of the amount of your loan, Royal Credit Line or your age
For lines of credit, (since there is no way to predict what your actual Royal Credit Line balance will be when a disability occurs), premiums are calculated based on 3% of the daily balance or qualifying balance in each billing month
Joint disability coverage is calculated by multiplying the single coverage cost by 2
Disability Insurance Single Premium Rates
Personal Loans
Royal Credit Line
$2.40 per month per $100 of regular payment amount
$2.40 per month per $100 of estimated disability benefit
OR
$.72 per month per $1,000 of outstanding balance
Rates are converted from a monthly rate to a daily rate based on 365 days a year. Provincial sales tax will be added to your premium where applicable.
