RBC Disability Business Protection Insurance

Disability business protection insurance provided by RBC Insurance helps keep businesses protected in the event that owners and key persons are unable to work due to a disability.

Here is the list of coverage options available:

The Business Loan Insurance Plan

The Business Loan Insurance Plan will help secure your family, business partners, and employees, if something ever happens to you. This insurance plan lets you choose from three main options:

• Critical illness coverage with life insurance (provides up to $500,000 per insured person to help pay off outstanding loans).
• Disability coverage with life insurance (provides up to $7,000 per month towards loan payments).
• Life insurance only (provides up to $1,000,000 per insured person to help pay off outstanding loans).

Business Overhead Expense

• Plan for self-employed professionals and small-business owners (less than 5 employees)
• From age 18 to 60
• Non-cancellable product that is guaranteed continuable to age 65
• Benefit payments are available for 15 or 24 months
• Premiums may be tax deductible as a business expense

Disability Buy Sell

• Disability plan designed for partnerships and businesses with multiple principals.
• For ages 18 – 60.
• Maximum coverage amounts: 360-day elimination period - $1.0 million; 540-day elimination period - $1.5 million; 720-day elimination period - $2.0 million.
• Conditionally renewable to age 64.

Key Person Protector

• Provides financial coverage to a business in the event of a key person being unable to work due to a disability.
• For ages 18 – 55.
• Maximum coverage amount is $15,000.
• Conditionally renewable to age 62.

More about the additional life insurance products offered by RBC Insurance now.

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