We use our credit cards for our day to day expenses, I mean its easier than carrying cash around because somehow we end up spending it all without realizing and with debit; who wants to have to go up to pay with their debit card, it just takes way to long. In times of financial difficulty, Royal Bank of Canada (RBC) has a credit card balance insurance; called BalanceProtector. With BalanceProtector you are able to ease your burden and maintain a good credit rating.
With BalanceProtector Insurance you can have coverage for Job loss protection, Disability protection, Loss of life protection, Accidental death protection, Dismemberment protection, Strike protection, and Critical illness protection.
BalanceProtector insurance is a creditor’s group insurance by Assurant Solutions and provided to eligible RBC Visa cardholders. Assurant Solutions is the trade name of the Canadian Branches of American Bankers Life Assurance Company of Florida and American Bankers Insurance Company of Florida.
Job loss protection is for a primary cardholder under 65 years of age and you involuntarily become unemployed. BalanceProtector insurance will make you monthly Visa payments based on your balance at the time until you are working again or if your balance is reduced to zero. Keep in mind there is a maximum amount of $15,000 or 20 months.
Accidental death protection is for a primary or spousal cardholder over 65 years og age and were to lose your life in an accident. You balance will be paid for by BalanceProtector insurance, but once again it is up to $15,000.
Strike protection is for a primary cardholder under 65 years of age and you become unemployed due to a strike or lockout. BalanceProtector insurance will pay your outstanding qualifying balance on your Visa at that point in time (up to a maximum of $15,000)
Now this is a great insurance coverage as your Visa will be paid for up to $15,000 without you having to worry about it in these harsh times. A great benefit by RBC, don’t miss out on it.