Insurance coverage can be essential to help protect you and your family’s financial future. Choose insurance that meets your needs for your CIBC Mortgage Loan.

Creditor Insurance for CIBC Mortgage Loans, underwritten by The Canada Life Assurance Company (Canada Life), can help pay off, or reduce your balance, or cover your payments, in the event of against disability, job loss or in the event of your death. 

Creditor Insurance for CIBC Mortgages

If you are unable to work due to a disability  

Help protect your family’s home with mortgage disability insurance1 should you face an unforeseen event and become unable to work due to a disability.

Learn more about mortgage disability insurance.

If you are unable to work due to a disability or lose your job

Help protect your family’s home with mortgage disability insurance plus1 if you are unable to work due to a disability or if you lose your job through no fault of your own.

Learn more about mortgage disability insurance plus

In the event of death

With mortgage life insurance1 you can help ensure your family is able to remain in your family’s home in the event of death. 

Learn more about mortgage life insurance

Did you know?

In Canada in 2014, over 118,000 individuals filed a consumer proposal or personal bankruptcy. More than one-third were job-loss related and another 15% due to illness, injury or health related problems2.

74% of surveyed Canadians said they’d have difficulty with expenses if a primary earner were to pass away3.

Terms and Conditions

Life Insurance, Disability Insurance and Disability Insurance Plus for CIBC Mortgage Loans is optional creditor’s group insurance underwritten by The Canada Life Assurance Company (Canada Life) and administered by Canada Life and CIBC. CIBC receives fees from Canada Life for providing services to Canada Life regarding this insurance. Also, the risk under the group insurance policy may be reinsured, in whole or in part, to a reinsurer affiliated with CIBC. The reinsurer earns reinsurance income under this arrangement. Representatives promoting this insurance on behalf of CIBC may receive compensation. This insurance is subject to eligibility conditions, limitations and exclusions (which are circumstances when benefits are limited or not paid). For the complete terms and conditions, download a sample copy of Certificate of Insurance (PDF, 175 KB) .The information in these pages is general only. Products and their features may change at any time. In case of discrepancy between the information and examples provided on these pages and your Certificate of Insurance, your Certificate of Insurance prevails.

Source: Joe Debtor -  Causes of Insolvency Hoyes–Michalos, May 2015.

Source: LIMRA 2013 Canadian Ownership Study.