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News Releases

 

Canada's small business owners can sleep easier with disability insurance coverage offered by RBC Royal Bank

TORONTO, January 10, 2008 — RBC Royal Bank has become the first major Canadian bank to launch a disability insurance option under its Business Loan Insurance Plan. The disability insurance option assists business owners by covering insured business loan and mortgage payments in the event they become seriously ill or injured. This can help relieve financial stress on an insured owner and keep the management team focused on the business.

"Canada has over two million small and commercial business owners. In most of these enterprises, the owner is the heart and soul of the business," said Louise Mitchell, president, RBC Insurance Services Inc. "A business could be financially devastated by the disability of one of its owners. The Business Loan Insurance Plan is designed to help the business maintain its loan and mortgage obligations so the owner can focus on recovering."

The Business Loan Insurance Plan is a group creditor insurance plan underwritten by Sun Life Assurance Company of Canada. It also includes life insurance and accidental dismemberment coverage, which enables a business to continue to manage on a day-to-day basis by paying off or reducing outstanding loans.

RBC Royal Bank delivers a wide range of financial services and practical advice to small and medium-sized businesses and their owners. RBC Royal Bank is Canada's leading financial institution for small business, serving one in four small businesses.

RBC Insurance Services Inc. is the administrator of creditor insurance programs offered by RBC Royal Bank. For more information on the Business Loan Insurance Plan call or visit an RBC Royal Bank Branch.

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For more information, please contact:
Kerry Gaetano, (905) 816-5583, kerry.gaetano@rbc.com
Margie McNeil, (905) 606-1425, margie.mcneil@rbc.com


 



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01/10/2008 08:11:03