Coverage begins on the date CIBC receives your signed and completed insurance application if:
- You have answered “No” to all applicable health questions on the application; and
- Your CIBC Mortgage loan has been approved.
In all other situations, the insurer (The Canada Life Assurance Company) will review your application. If your application is approved, the insurer will advise you in writing of the date your insurance begins. If your application is not approved, the insurer will provide you with a notice of decline.