When you buy a home, you want security to go with it. Mortgage Critical Illness Insurance1 can help. It provides financial protection for your mortgage if you are diagnosed with cancer, acute heart attack, or stroke. 

Key benefits

Your CIBC Mortgage balance is reduced or paid off up to $500,000. This benefit is paid if you are diagnosed with a covered critical illness and satisfy the 30-day waiting period, and can help you maintain your lifestyle by freeing up money previously tied up in mortgage payments.


When two applicants are approved for Mortgage Critical Illness Insurance, save 15% off the combined single premium rates.


You don’t need to make separate payments for your insurance premiums — they are added to your CIBC Mortgage payment and automatically adjusted if you change the frequency of your mortgage payment.


Coverage includes a review period of 30 days from the date you receive your Certificate of Insurance. If you cancel your coverage during this review period, you will receive a full refund of any premiums paid.


No premium is charged until your mortgage is funded.


If you are declined for critical illness insurance coverage on your new mortgage but you had critical illness insurance coverage on the CIBC Mortgage you paid out, you may be eligible to have a portion of your new mortgage insured under “Prior Coverage Recognition.”

Did you know?

Working Canadians understand that a critical illness would have serious financial and emotional consequences. Among their top five financial concerns should they become critically ill is their inability or struggle to make mortgage or rent payments.2 Yet, fewer than 1 in 10 Canadians actually have personal critical illness insurance3.

Get started

For more information about product terms and conditions or further assistance, please call CIBC's Creditor Insurance Helpline at 1-800-465-6020.


Terms and conditions

Critical Illness Insurance 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 the sample copy of the Certificate of Insurance (PDF, 195 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.

2 Source: GWL/CLA/LL Critical Illness Insurance – Thought Leadership Research 2015 (1786 online interviews)

3 Source: Edward Jones via Leger online panel of 1564 Canadians in October 2016

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