What does the CIBC Payment Protector Insurance for Credit Cards cost?
Sample premiums calculation for Primary Cardholder coverage:
January 16 to February 15
Amount you owe on the statement date (February 15) before calculating the premium:
Premium you pay for Primary Cardholder Coverage:
$0.99 X ($2,000/100) = $19.80 (plus applicable taxes).
Your premium (plus applicable taxes) is automatically charged by Canadian Premier to your insured credit card on the statement date (i.e., February 15). This premium pays for coverage for the next statement period (i.e., the statement period from February 16 to March 15).