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Loan, mortgage and credit card insurance is a convenient and cost-effective way to safeguard your savings. It can also preserve your life or disability insurance for other things, including children's tuition, capital gains taxes, final arrangements, living expenses and more.
We offer the following optional insurance for clients with an RBC Royal Bank® loan, line of credit, mortgage or Visa* credit card:
Loan or Line of Credit Protection
LoanProtector® insurance pays off or reduces your loan or line of credit balance in the event of death, to a maximum of $500,000. If you become disabled, it can maintain your regular loan payments and pay 3% of your qualified balance on your line of credit for up to 60 months, to a maximum payment of $3,000 per month.
Mortgage Protection
HomeProtector® insurance pays off or reduces your mortgage balance in the event of death, to a maximum of $500,000. If you become disabled, it can maintain your regular mortgage payments for up to 24 months.
Credit Card Balance Protection
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