Several life and health insurance products ease small business owners’ minds about an eventuality beyond their control.  

Business overhead expense insurance is one such product. This insurance contract reimburses a business’ fixed monthly expenses until the insured owner returns from a period of disability. The business can thus continue operating until the insured owner can return to work or make a decision about the future of the business.  

As for target clients, RBC’s website says this insurance is suitable for executives of corporations or firms with few shareholders, as well as small business owners. The bank's insurance subsidiary mentions businesses or firms whose survival depends primarily on the owner's ability to work, such as physicians, lawyers, accountants and engineers.  

RBC is one of three insurers to offer this protection in Canada. The other two are Canada Life and Manulife. These insurers are also the only three players to offer buy-sell insurance, which lets business co-owners buy out the shares of another owner or partner if that person becomes disabled.