Life & Disability Coverage for Businesses with a Bank Business Loan
You’ve worked hard to build your business, and you know how vital it is to protect your investment – and the people you care about. That’s why the Business Loan Insurance Plan makes such good sense.
Underwritten by Sun Life Assurance Company of Canada, our plan provides extra financial security to your business by helping to pay off or reduce your business loan if you or a key employee pass away–or if a business owner becomes injured or disabled.
Coverage You Need with Service You Can Trust
Would your business be put at risk if you or a key employee passed away—or if a partner became injured or disabled?
Would you need to use your personal savings or other assets to help pay off your company’s outstanding business loans?
Royale British Columbia Financial Inc. Business Loan Insurance Plan provides the extra financial security your business needs during a difficult time, while also protecting your family and the people who keep your business running.
What Does Our Plan Cover?
Business Loan Insurance Plan offers three types of protection under one cost-effective plan to protect your business:
- Life Insurance Coverage – Should an owner or key employee pass away, this valuable coverage provides up to $1,000,000—per insured person—to help pay off outstanding loans.
- Disability Insurance Coverage – If a disability prevents an owner from working, the plan’s optional disability coverage provides up to $7,000 per month towards loan payments.
- Accidental Dismemberment Coverage – Included with your life insurance at no additional cost, this coverage pays up to $50,000 against outstanding loans if an insured person suffers an accidental dismemberment.