When you invest in the right insurance coverage, you help protect and ensure the lifestyle you and your family enjoy today is one you can continue to enjoy in the future.
Creditor Insurance for CIBC Mortgages, underwritten by The Canada Life Assurance Company (Canada Life), can help pay off or reduce your mortgage in the event of death or critical illness, or cover your payments in the event of a disability or involuntary job loss.
Why choose Creditor Insurance for your CIBC mortgage?
Protection This insurance will protect your mortgage and ensure you and your family can stay in your home if you are unable to work due to a disability, involuntary job loss, critical illness, or in the event of your death.
Instant coverage Get on-the-spot approval with coverage beginning immediately if you can answer “No” to all of the health questions on the application and your CIBC mortgage is approved.
Convenience Don’t worry about making separate payments for your insurance premiums. They’re added to your CIBC mortgage payment and are automatically adjusted if you change the frequency of your CIBC mortgage payment.
Prior Coverage Recognition If you’re declined for insurance coverage on your new CIBC mortgage, but you had insurance coverage on the CIBC mortgage you paid out, you may be eligible to have a portion of your new CIBC mortgage insured under Prior Coverage Recognition.
Customize your protection
Choose insurance for your CIBC mortgage that meets your needs to help financially protect against death, critical illness, disability or job loss.
Protect your family's home with life insurance for CIBC mortgage loans in the event of your death.