TORONTO, Jan. 10 /CNW/ - 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
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.
For further information:
For further information: Kerry Gaetano, (905) 816-5583,
email@example.com; Margie McNeil, (905) 606-1425, firstname.lastname@example.org