Credit Protection Selector

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Help protect your family and your achievements against life’s what-ifs.

Take a few minutes to see the type of insurance coverage that’s recommended for your mortgage, personal loan or line of credit with RBC Royal Bank®.

Required information

Which RBC lending product do you have (or plan to get)? Please select a product.

The following RBC Royal Bank business loans are eligible for Business Loan Insurance Plan coverage (all loans must be denominated in Canadian dollars):

Operating loans
Term Loans
Canada Small Business Financing Loan
Commercial mortgages less than $1,000,000
RoyFarm Mortgage
Any revolving credit facilities, by way of RBC Royal Bank prime based loans

These types of loans are not eligible: letters of credit, letters of guarantee, most commercial mortgages, Visa card balances, overdrafts, leases, bankers' acceptances or tender loans.

In addition, to qualify for and remain eligible for coverage, your business must:

Be domiciled in Canada, and operate in Canada
Be a sole proprietorship, partnership, corporation or other entity operating a business/farm that is indebted to RBC Royal Bank under a loan

To show you the coverage options, we need to know which product you have (or plan to apply for). Please choose whether you have an RBC mortgage (including a mortgage within an RBC Homeline Plan^®), a personal loan, or a Royal Credit Line^® (including a Royal Credit Line within an RBC Homeline Plan).

Mortgage Personal Loan Royal Credit Line

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Tell us about your RBC Mortgage.

Required information

[label]

...

Please enter the outstanding balance on your mortgage.

$Dollar

[label]

...

Please enter your monthly mortgage payment.

$Dollar

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Tell us a bit about your finances:

Required information

Do you work at least 20 hours a week? Please select an option. Yes No

What is your monthly income (before taxes)? Please enter your monthly income.

$Dollar

[label]

...

Please enter your uninsured debt.

$Dollar

[label]

...

Please enter your monthly expenses.

$Dollar

What insurance coverage do you have today? (Select all that apply)

...

Please select an option. Life Disability Critical Illness None

[label]

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Please enter how much life insurance you have.

$Dollar

[label]

...

Please enter the monthly benefit for your private disability insurance.

$Dollar

[label]

...

Please enter the % of your income that is covered by an employer disability plan.

%Percent

I am not sure I am not sure

[label]

...

Please enter how much critical illness insurance you have.

$Dollar

Would your business be impacted if another business owner, or a key employee* were unable to work for a period of time? Please select an option. Yes No

* If the business is domiciled in Quebec, only an owner of the business or a guarantor of the business loan is eligible to apply.

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Based on what you’ve told us, you might consider:

Business Loan Insurance Plan - Life Coverage Only

Your [product]:

Current Balance:

Monthly Payment:

How This Coverage Protects You

Life Insurance

Pays off or reduces your outstanding business [product] balance (up to $1,000,000) if you or an insured person passes away.

Up to 25 business owners, guarantors or key employee(s)¹ can be insured for life coverage.
Also includes up to $50,000 in accidental dismemberment insurance at no additional cost.

Next Steps:

Customize Quote Now View Terms & Conditions

Print PDF Start Over

Not Sure You Need This Coverage?

Consider the Following Questions(Opens modal window)

Based on what you’ve told us, you might consider:

Business Loan Insurance Plan - Life and Critical Illness Coverage

Your [product]:

Current Balance:

Monthly Payment:

How This Coverage Protects You

Life Insurance

Pays off or reduces your outstanding business [product] balance (up to $1,000,000) if you or an insured person passes away.

Up to 25 business owners, guarantors or key employee(s)¹ can be insured for life coverage.
Also includes up to $50,000 in accidental dismemberment insurance at no additional cost.

Critical Illness Insurance

Pays off or reduces your outstanding business [product] balance (up to $500,000) if you or an insured person are diagnosed with cancer, heart attack or stroke.

Up to 25 business owners, guarantors or key employee(s)¹ can be insured for critical illness coverage.
Not available to borrowers or key employee(s)¹ over age 59.

Next Steps:

Customize Quote Now View Terms & Conditions

Print PDF Start Over

Not Sure You Need This Coverage?

Consider the Following Questions(Opens modal window)

Based on what you’ve told us, you might consider:

Business Loan Insurance Plan - Life and Disability Coverage

Your [product]:

Current Balance:

Monthly Payment:

How This Coverage Protects You

Life Insurance

Pays off or reduces your outstanding business [product] balance (up to $1,000,000) if you or an insured person passes away.

Up to 25 business owners, guarantors or key employee(s)¹ can be insured for life coverage.
Also includes up to $50,000 in accidental dismemberment insurance at no additional cost.

Disability Insurance

Covers your business [product] payment(s) (up to $7,000 per month for up to 24 months) if you or an insured person can’t work due to an illness or injury.

Up to 3 business owners can be insured for disability coverage.
There is a lifetime maximum of 48 months of disability benefits per insured person.

Next Steps:

Customize Quote Now View Terms & Conditions

Print PDF Start Over

Not Sure You Need This Coverage?

Consider the Following Questions(Opens modal window)

Based on what you’ve told us, you might consider:

Life Insurance

Rates are based on age and begin at:

[value]/month

This payment amount is not guaranteed as the cost of [LP/HP] will vary depending on your age, type of coverage and number of covered borrowers. Maximum product benefit for life coverage is $500,000.

Your [product]:

Current Balance:

Monthly Payment:

How This Coverage Protects You

Life Insurance

Pays off or reduces your outstanding [product] balance (up to $500,000) if you or an insured co-borrower passes away.

Next Steps:

Customize Quote Now
View Terms & Conditions

Print PDF Start Over

Not Sure You Need This Coverage?

Consider the Following Questions(Opens modal window)

Based on what you’ve told us, you might consider:

Life and Critical Illness Insurance

Rates are based on age and begin at:

[value]/month

This payment amount is not guaranteed as the cost of [LP/HP] will vary depending on your age, type of coverage and number of covered borrowers. Maximum product benefit for life coverage is $500,000. Maximum product benefit for critical illness coverage is $300,000.

Your [product]:

Current Balance:

Monthly Payment:

How This Coverage Protects You

Life Insurance

Pays off or reduces your outstanding [product] balance (up to $500,000) if you or an insured co-borrower passes away.

Critical Illness Insurance

Pays off or reduces your insured outstanding [product] balance (up to $300,000) if you or an insured co-borrower are diagnosed with cancer (life-threatening), heart attack or stroke.

Next Steps:

Customize Quote Now
View Terms & Conditions

Print PDF Start Over

Not Sure You Need This Coverage?

Consider the Following Questions(Opens modal window)

Based on what you’ve told us, you might consider:

Life and Disability Insurance

Rates are based on age and begin at:

[value]/month

This payment amount is not guaranteed as the cost of [LP/HP] will vary depending on your age, type of coverage and number of covered borrowers. Maximum product benefit for life coverage is $500,000. Disability benefit payment cannot exceed the monthly equivalent of $3,000.

Your [product]:

Current Balance:

Monthly Payment:

How This Coverage Protects You

Life Insurance

Pays off or reduces your outstanding [product] balance (up to $500,000) if you or an insured co-borrower passes away.

Disability Insurance

Covers your [product] payment(s) (up to $3,000 per month for a maximum of 24 months) if you or an insured co-borrower become disabled due to an injury or illness and can’t work.

Next Steps:

Customize Quote Now
View Terms & Conditions

Print PDF Start Over

Not Sure You Need This Coverage?

Consider the Following Questions(Opens modal window)

About Your Current Business Insurance Coverage

Here’s what you said about your existing coverage:

Life Insurance: 0

Monthly Disability Benefit: 0

Critical Illness Insurance: 0

Would your business be impacted if another business owner, or a key employee¹ were unable to work for a period of time?:

Additional Coverage Options

Business Loan Insurance Plan - Life Coverage Only

How This Coverage Protects You

Customize Quote Now

Call 1-800-769-2523 to apply or get a quote for more than 1 person

View Terms & Conditions

Life Insurance

Pays off or reduces your outstanding business [product] balance (up to $1,000,000) if you or an insured person passes away.

Up to 25 business owners, guarantors or key employee(s)¹ can be insured for life coverage.
Also includes up to $50,000 in accidental dismemberment insurance at no additional cost.

Business Loan Insurance Plan - Life and Critical Illness Coverage

How This Coverage Protects You

Customize Quote Now

Call 1-800-769-2523 to apply or get a quote for more than 1 person

View Terms & Conditions

Life Insurance

Pays off or reduces your outstanding business [product] balance (up to $1,000,000) if you or an insured person passes away.

Up to 25 business owners, guarantors or key employee(s)¹ can be insured for life coverage.
Also includes up to $50,000 in accidental dismemberment insurance at no additional cost.

Critical Illness Insurance

Pays off or reduces your outstanding business [product] balance (up to $500,000) if you or an insured person are diagnosed with cancer, heart attack or stroke

Up to 25 business owners, guarantors or key employee(s)¹ can be insured for critical illness coverage.
Not available to borrowers or key employee(s)¹ over age 59.

Business Loan Insurance Plan - Life and Disability Coverage

How This Coverage Protects You

Customize Quote Now

Call 1-800-769-2523 to apply or get a quote for more than 1 person

View Terms & Conditions

Life Insurance

Pays off or reduces your outstanding business [product] balance (up to $1,000,000) if you or an insured person passes away.

Up to 25 business owners, guarantors or key employee(s)¹ can be insured for life coverage.
Also includes up to $50,000 in accidental dismemberment insurance at no additional cost.

Disability Insurance

Covers your business [product] payment(s) (up to $7,000 per month for up to 24 months) if you or an insured person can’t work due to an illness or injury.

Up to 3 business owners can be insured for disability coverage.
There is a lifetime maximum of 48 months of disability benefits per insured person.

Why Consider this Coverage

Here’s what you said about your finances and why you might want to consider [insurance product]:

Your Life Insurance vs. Uninsured Debt

Your uninsured debt of [XXX,XXX] ([product] balance + other uninsured debt) is [greater than/less than/equal to] your life insurance coverage of [XXX,XXX]. If you were to pass away, you [may not have] enough life insurance to pay off this RBC debt.

With HomeProtector Insurance, you can help pay off or reduce your mortgage and preserve your life insurance for other expenses.

Since you have [XXX,XXX] in uninsured debt ([product] balance + other uninsured debt) and no life insurance, if you were to pass away, you would need to have other resources—such as savings and investments—to pay off this RBC debt.

With HomeProtector Insurance, you can help pay off or reduce your mortgage and preserve your other resources for what they are intended.

Keep in mind that using life insurance to pay down uninsured debt means these funds won’t be there for other needs. With HomeProtector Insurance, you can help pay off or reduce your mortgage and preserve your life insurance for other expenses.

Your Monthly Income vs. Expenses

Your monthly income of [X,XXX] is [greater than/less than/equal to] your monthly expenses of [X,XXX] ([product] payment + other expenses). If something were to happen to you, however, and some—or all—of this income went away, would you or your family be able to keep up with these expenses?

Your monthly income of [X,XXX] is [greater than/less than/equal to] your monthly expenses of [X,XXX] ([product] payment + other expenses). If something were to happen to you, and some—or all—of this income went away, would you or your family be able to keep up with these expenses?

Your Monthly Disability Insurance vs. Expenses

Your monthly expenses of [X,XXX] ([product] payment + other expenses) are [greater than/less than/equal to] your [X,XXX] monthly disability benefit (individual and employer disability coverage). If you were to become disabled due to an injury or illness and were unable to work, you [may not have] be able to continue making your [product] payments.

With HomeProtector Life and Disability Insurance, you can help ensure that your mortgage payments are made and preserve your disability insurance for other needs.

Since you have [X,XXX] in monthly expenses ([product] payment + other expenses) and no disability insurance, if you were to become disabled due to an injury or illness and were unable to work, you would need to have other resources—such as savings and investments—to keep up with these expenses.

With HomeProtector Insurance, You can help ensure that your mortgage payments are made and preserve your other resources for what they are intended.

Your monthly expenses of [X,XXX] ([product] payment + other expenses) are [greater than/less than/equal to] your [X,XXX] monthly disability benefit (individual and employer disability coverage). If you were to become disabled due to an injury or illness and were unable to work, you [may not have] enough disability coverage to keep up with these expenses.

Your Life Insurance vs. Uninsured Debt

With LoanProtector Insurance, you can help pay off or reduce your [product] and preserve your life insurance for other expenses.

With LoanProtector Insurance, you can help pay off or reduce your [product] and preserve your other resources for what they are intended.

Keep in mind that using life insurance to pay down uninsured debt means these funds won’t be there for other needs. With LoanProtector Insurance, you can help pay off or reduce your [product] and preserve your life insurance for other expenses.

Your Monthly Income vs. Expenses

Your monthly income of [X,XXX] is [greater than/less than/equal to] your monthly expenses of [X,XXX] ([product] + other expenses). If something were to happen to you, and some—or all—of this income went away, would you or your family be able to keep up with these expenses?

Your Monthly Disability Insurance vs. Expenses

Your monthly expenses of [X,XXX] ([product] payment + other expenses) are [greater than/less than/equal to] your [X,XXX] monthly disability benefit (individual and employer disability coverage). If you were to become disabled due to an injury or illness and were unable to work, you [may not have] enough disability coverage to keep up with these expenses.

With LoanProtector Life and Disability Insurance, you can keep making your [product] payments and preserve your disability insurance for other needs.

With LoanProtector Insurance, you can keep making your [product] payments and preserve your other resources for what they are intended.

Additional Coverage Options

Life Insurance

Your [product]:

Current Balance:

Monthly Payment:

How This Coverage Protects You

Rates are based on age and begin at:

[value]/month

This payment amount is not guaranteed as the cost of [LP/HP] will vary depending on your age, type of coverage and number of covered borrowers. Maximum product benefit for life coverage is $500,000.

Customize Quote Now View Terms & Conditions

Life Insurance

Pays off or reduces your outstanding [product] balance (up to $500,000) if you or an insured co-borrower passes away.

Life and Critical Illness Insurance

Your [product]:

Current Balance:

Monthly Payment:

How This Coverage Protects You

Rates are based on age and begin at:

[value]/month

Customize Quote Now View Terms & Conditions

Life Insurance

Pays off or reduces your outstanding [product] balance (up to $500,000) if you or an insured co-borrower passes away.

Critical Illness Insurance

Pays off or reduces your insured outstanding [product] balance (up to $300,000) if you or an insured co-borrower are diagnosed with cancer (life-threatening), heart attack or stroke.

Life and Disability Insurance

Your [product]:

Current Balance:

Monthly Payment:

How This Coverage Protects You

Rates are based on age and begin at:

[value]/month

This payment amount is not guaranteed as the cost of [LP/HP] will vary depending on your age, type of coverage and number of covered borrowers. Maximum product benefit for life coverage is $500,000. Disability benefit payment cannot exceed the monthly equivalent of $3,000.

Customize Quote Now View Terms & Conditions

Life Insurance

Pays off or reduces your outstanding [product] balance (up to $500,000) if you or an insured co-borrower passes away.

Disability Insurance

Covers your [product] payment(s) (up to $3,000 per month for a maximum of 24 months) if you or an insured co-borrower become disabled due to an injury or illness and can’t work.

We’re Here to Help

Customize your quote or apply

Customize Quote Now

Sign in to RBC Online Banking.
Review the application information.
Follow the steps outlined to apply.

Get In Touch With Us

Call 1-800-769-2523 (Mon-Fri: 8:00am-8:00pm ET)

Visit a Branch

Book an Appointment

Learn More

Business Loan Insurance Plan

Legal Disclaimer

Business Loan Insurance Plan is underwritten by RBC Life Insurance Company.

The content of these pages is provided for informational purposes only and is not complete in detail. Coverage is optional and is governed by the terms and conditions of group creditor policies, 52000 for life and disability insurance and 53000 for critical illness insurance, underwritten by RBC Life Insurance Company and issued to Royal Bank of Canada.

Please see the Business Loan Insurance Plan Terms and Conditions and the Fact Sheet, Product Summary and Notice of Rescission (for Quebec residents).

Legal Disclaimer¹

If the business is domiciled in Quebec, only an owner of the business or a guarantor of the business loan is eligible to apply.

Legal Disclaimer

Underwritten by The Canada Life Assurance Company.

The content of these pages is provided for informational purposes only and is not complete in detail.

HomeProtector coverage is governed by the terms and conditions of group's creditor policies, #G60100 for life insurance, #H60102 for critical illness insurance and #H60101 for disability insurance issued to Royal Bank of Canada by The Canada Life Assurance Company. Please see the HomeProtector Certificate of Insurance and the Fact Sheet and Product Summary (for Quebec residents).

LoanProtector coverage is governed by the terms and conditions of group’s creditor policies, #G28444 for life insurance, #H28544 for critical illness insurance and #H28445 for disability insurance issued to Royal Bank of Canada by The Canada Life Assurance Company. Please see the LoanProtector Certificate of Insurance and the Fact Sheet and Product Summary (for Quebec residents).

Not Sure You Need this Coverage?

Consider the following questions

Without your income, how would you or your family make payments on your [product]?

Select an Option

If you used existing insurance coverage to help pay off your [product]:

Would you have enough insurance coverage left to cover other necessary expenses?
Would you have to adjust your lifestyle due to a shortfall in coverage?

[LP/HP] offers simple and straightforward coverage that can help protect you when you need it most.

If you sold your home to help pay off your [product]:

How would the sale impact your family—changing schools, neighbourhoods, etc.?
What is the time and cost involved with getting your home ready to sell?
Are you willing to accept a lower offer on your home in order to sell quickly?
Would there be enough equity left over to cover other expenses?
Where would you or your family live once the house is sold?

[LP/HP] Offers simple and straightforward coverage that can help protect you when you need it most.

If you sold your investment assets to help pay off your [product]:

Would the sale impact your financial goals, such as retirement or sending your kids to university?
What will be the tax consequences and potential breakage fees?
Are you willing to accept a lower value for your investments in order to sell quickly?

[LP/HP] offers simple and straightforward coverage that can help protect you when you need it most.

If you borrowed money from a bank to help pay off your [product]:

Would you or your spouse have difficulty qualifying for credit with a reduced income?
Would you be able to afford an increase in monthly payments?
Can you pay back another loan on a lower income?

[LP/HP] offers simple and straightforward coverage that can help protect you when you need it most.

If you borrowed money from family or friends to help pay off your [product]:

Could there be personal or emotional complications?
Will you feel stressed or worried about how you will repay the money?
Will friends or family have the ability to help to the extent that you may need?

[LP/HP] offers simple and straightforward coverage that can help protect you when you need it most.

If you are planning to purchase insurance elsewhere to help pay off your [product]:

Do you have the time to research and decide on other coverage options?
What if something happened before you purchased other coverage?

[LP/HP] offers simple and straightforward coverage that can help protect you when you need it most.

[LP/HP] offers simple and straightforward coverage that can help protect you when you need it most. If you have questions, please call us at 1-800-769-2523 or learn more about Business Loan Insurance Plan now.

Not Sure You Need this Coverage?

Consider the following questions

How would your business make payments on your business [product] if you were unable to run day-to-day operations?

Select an Option

If you used existing personal or business lines of credit to help pay off your business [product]:

Would you have sufficient funds to cover an extended leave of absence?
How would this impact your business cash flow?
What would be the impact to your personal cash flow?

The Business Loan Insurance Plan offers simple and straightforward coverage that can help protect the business you’ve worked so hard to build.

If you liquidated other assets to help pay off your business [product]:

Will you be able to liquidate your assets fast enough?
Are you willing to accept a lower value for your assets in order to sell quickly?
What will the tax consequences and potential breakage fees be if you sold investments personally or in your business?
Would selling assets impact your short-term and/or long-term financial goals?

The Business Loan Insurance Plan offers simple and straightforward coverage that can help protect the business you’ve worked so hard to build.

If you relied on your business partner(s) or family member(s) to help pay off your business [product]:

Would your business partner(s) or family member(s) be on board with this strategy—and are they aware of it?
What would be the impact to your revenue, clients and business while transitioning roles and responsibilities?
What if your business partner was also unable to work due to medical issues?
Could there be personal or emotional complications?
Will friends or family have the ability to help to the extent that you may need?

The Business Loan Insurance Plan offers simple and straightforward coverage that can help protect the business you’ve worked so hard to build.

If you used existing insurance coverage to help pay off your business [product]:

Would you have enough insurance coverage left to cover other necessary personal or business expenses?
Would you have to adjust your business’s future plans due to a shortfall in coverage?

The Business Loan Insurance Plan offers simple and straightforward coverage that can help protect the business you’ve worked so hard to build.

If you are planning to purchase insurance elsewhere to help pay off your business [product]:

Do you have the time to research and decide on other coverage options?
What if something happened before you purchased other coverage?

The Business Loan Insurance Plan offers simple and straightforward coverage that can help protect the business you’ve worked so hard to build.

The Business Loan Insurance Plan offers simple and straightforward coverage that can help protect the business you’ve worked so hard to build. If you have questions, please call us at 1-800-769-2523 or learn more about the Business Loan Insurance Plan now.

Customize Your LoanProtector Insurance Quote

Call 1-800-769-2523 (Mon-Fri: 8am-10pm, ET)

Customize your quote without signing in to Online Banking

Don’t have your RBC loan or line of credit yet?

You can still customize your quote now or call 1-800-769-2511 to talk to a credit specialist.