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Now there's affordable protection to cover an outstanding balance on your RBC Royal Bank Visa* card. You can rest assured that your payments will be taken care of with BalanceProtector Insurance coverage.
BENEFITS
Job Loss Protection**. If you're a primary cardholder under 65 years of age and you become involuntarily unemployed, BalanceProtector will make your minimum monthly Visa payments based on your balance at that time until you're working again, or until your balance is reduced to zero (up to maximum of $15,000).
Disability Protection**. If you're a primary cardholder under 65 years of age and you become temporarily disabled as a direct result of an illness or accident, BalanceProtector will make your minimum monthly Visa payments based on your balance at that time (up to a maximum of $15,000) as long as you're disabled. Disability benefits will commence after a set period of uninterrupted total disability, and thereafter you must remain under the care of an approved doctor.
Loss of Life Protection**. If you're a primary or spousal cardholder under 65 years of age and were to lose your life, BalanceProtector will ease the financial burden on the rest of your family by paying the full balance on your Visa account to a maximum of $15,000.
Accidental Death Protection**. If you're a primary or spousal cardholder over 65 years of age and were to lose your life as a direct result of an accident, your outstanding Visa balance (up to $15,000) will be paid in full by BalanceProtector.
Dismemberment Protection**. If you're a primary or spousal cardholder and were to lose the sight in both eyes or lose a limb as a direct result of an accident, BalanceProtector will pay the outstanding balance on your Visa at that point in time (up to a maximum of $15,000).
Strike Protection**. If you're a primary cardholder under 65 years of age and you become unemployed due to a strike or lockout, BalanceProtector will make your minimum monthly Visa payments based on your outstanding balance at that time, until you resume working or your balance is reduced to zero (up to a maximum of $15,000).
Critical Illness Protection**. If you're a primary or spousal cardholder under 65 years of age and were to be diagnosed with certain critical illnesses (Cancer, Heart Attack or Stroke), Balance Protector would pay in full the balance owing on your Visa account at the time of diagnosis (up to a maximum of $15,000).
ELIGIBILITY
To be eligible to enroll for BalanceProtector coverage you must be at least 18 years of age and have entered into an RBC Royal Bank Visa Cardholder Agreement.
COVERAGE / COMMENCEMENT / TERMINATION
Your BalanceProtector coverage will commence on the date that appears on your confirmation letter which will be sent with your Certificate of Insurance. Please read and retain your Certificate of Insurance as it is an important document, and it contains the Exclusions and Limitations of your coverage. Your coverage will cease upon request, or if your account fails to remain in good standing with the bank or if the group policy is terminated.
PREMIUMS
Premium for BalanceProtector coverage is 89 cents on each $100 of average daily balance calculated at Visa statement date and is conveniently charged to your RBC Royal Bank Visa Card. (plus provincial sales tax if applicable).
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To enroll in BalanceProtector or for General Information please call Canada Life Assurance Company at 1-888-896-2766. |
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® Registered trademark of Royal Bank of Canada.
The Canada Life Assurance Company is a licensee of the BalanceProtector trademark.
* Registered trademark of Visa International Service Association. Used under license.
** The RBC Royal Bank BalanceProtector Plan is underwritten by the Canada Life Assurance Company and is provided to eligible RBC Royal Bank Visa cardholders on a group basis. All benefits described herein are subject to EXCLUSIONS AND LIMITATIONS. Please refer to your Certificate of Insurance for the details of your coverage and for information regarding privacy and confidentiality of personal information.
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