Help Protect Your Family’s Lifestyle
Your home is where your family will live and grow, today and tomorrow. By protecting your mortgage balance with HomeProtector Insurance, it can help cover your payments in the event of a critical illness, disability or death.
The Protected Mortgage Difference
By having HomeProtector Insurance that's dedicated to your mortgage, any additional income, such as employer's benefits, may be preserved to take care of your family's other expenses.
Your mortgage fits neatly within your finances.
But what if you got sick or hurt and were suddenly unable to work?
A HomeProtector insured mortgage means your payments could be made for you.
Benefits at a Glance
For help protecting your family’s lifestyle, choose HomeProtector Insurance for your RBC Royal Bank mortgage.
- Customizable: Choose life insurance only — or add critical illness or disability insurance for more comprehensive protection. See how it works
- Affordable & Convenient: Premiums are locked in based on your age and mortgage balance when you apply and are added to your regular mortgage payments.
- Easy to Apply: In most cases, acceptance is automatic. See eligibility requirements
- Builds on Existing Coverage: Receive benefits on top of other coverage you may have, such as through your employer.
Let Us Help You Get Started
RBC Royal Bank HomeProtector Insurance
Options at A Glance:
- Life insurance pays off or reduces your mortgage balance (up to $750,000) if you pass away.
- Life insurance also covers prepayment charges, any overdrawn property tax account balance and any “cash back option” penalty amounts you owe, if you pass away.
- Critical illness insurance pays a lump sum to your mortgage balance (up to $300,000) if you are diagnosed with a covered critical illness – cancer (life-threatening), heart attack or stroke.
- Disability insurance maintains your regular mortgage payments (up to $3,000 per month, for up to 24 months) if you are disabled and unable to work due to an illness or an injury.
Note: Life Insurance is part of all coverage plans. You cannot be insured for both critical illness and disability insurance at the same time, on the same mortgage.
Eligibility Requirements for RBC Royal Bank HomeProtector Insurance
To apply for HomeProtector life insurance, you must be:
- Either a borrower, co-borrower or guarantor of an eligible RBC Royal Bank mortgage; and
- Age 18-65 on the date you apply; and
- A Canadian resident (living in Canada at least six months out of the year).
To apply for HomeProtector disability insurance, you must also:
- Have HomeProtector life insurance coverage; and
- Be actively working on the date of your application 1
To apply for HomeProtector critical illness insurance, you must also:
- Have HomeProtector life insurance coverage; and
- Be under age 56 on the date you apply.
Note: You cannot be insured for both critical illness and disability insurance at the same time, on the same mortgage.
1) Actively working means you are:- engaged in full-time employment (including self-employment), consistently working at least 20 hours a week, for which you are paid a salary or wages; or
- on maternity or parental leave but capable of performing the regular duties of your employment or occupation; or
- employed seasonally for at least 20 hours a week during the work season, which has a beginning and end, and you have a proven work history as a seasonal employee, you expect to return to the same occupation the next season and you are currently capable of performing the regular duties of your seasonal employment.
Apply Online
Sign in to RBC Online Banking.
Review the application information.
Follow the steps outlined to apply.