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Business Loan Insurance Plan Premium Calculator

You work hard to build your business.

Creditor insurance can help protect your debt responsibility and maintain what you’ve achieved.

Help ensure the financial obligations of your business are met in the event of illness or injury. Business Loan Insurance Plan can protect your business by helping to ensure that your insured loan payments are covered or your balance is paid off if you or other insured members of your management team1 suffer a critical illness, become disabled or pass away.

Business Loan Insurance Plan offers three key benefits...

Life insurance coverage can help provide a financial safety net by paying off or reducing the outstanding balance on your insured business operating lines of credit, loans and mortgages. With a maximum benefit of $1,000,000 being applied directly to your outstanding debt, you can worry less about how to keep your business and personal assets intact and available for your family if you were to pass away.

Critical illness coverage can help pay or reduce the outstanding balance on your insured business operating lines of credit, loans and mortgages in the event that you are diagnosed with a covered critical illness (certain types of cancer, heart attack or stroke) after your coverage comes into effect. Functioning in the aftermath of being diagnosed with a critical illness can be very challenging. With a maximum benefit of $500,000 being applied directly to your outstanding debt, critical illness coverage can help to relieve the financial burden, allowing you to focus on your recovery. Critical illness insurance is not available to borrowers or key employees1 of the business over age 59.

Disability coverage can help pay your insured business operating lines of credit, loan and mortgage payments in the event that you are unable to work due to illness or injury and your total disability claim is approved. With a maximum benefit of $7,000 per month payable for up to 24 months, you can focus on getting well rather than worrying about the financial burden of making your regular payments at a time when working may not be medically possible.

Answer a few questions and we’ll calculate the cost of protecting your RBC business loan(s)!

Business Loan Insurance Plan is a creditor’s group insurance program, underwritten by RBC Life Insurance Company, and is subject to terms, conditions, eligibility restrictions and exclusions.
If the business is domiciled in Quebec, only an owner of the business or a guarantor of the business loan is eligible to apply.

Business Loan Insurance Plan Premium Calculator

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