Your CIBC Personal Line of Credit (PLC) or Education Line of Credit (ELC) offers you convenient and easy access to cash to help you achieve your goals. But should something unexpected happen, the right insurance coverage can protect your family’s financial future. 

Creditor Insurance for CIBC PLC or ELC, underwritten by The Canada Life Assurance Company (Canada Life), can help you pay off or reduce the outstanding balance on your PLC or ELC in the event of your death. It can also pay a monthly benefit in the event of a disability.

Creditor Insurance for CIBC Personal Lines of Credit (PDF, 1.25 MB) Opens a new window in your browser.

Why choose Creditor Insurance for your CIBC PLC or ELC?

  • Protection
    CIBC PLC or ELC insurance will make sure your monthly payments are made if you can’t work due to a disability. It can also help to pay off or reduce your outstanding balance in the event of your death.
  • Instant coverage
    Get on-the-spot approval for up to $150,0001 with coverage beginning immediately when your CIBC PLC or ELC insurance is approved.
  • Convenience
    Don’t worry about making separate payments for your insurance premiums. They’re automatically charged to your CIBC PLC or ELC account, details of which you can review on your monthly statement. 

Customize your protection

Choose insurance that meets the needs of your CIBC PLC or ELC to financially protect against death or disability.

Life Insurance2

Rest assured knowing your family doesn’t have to worry about repaying the balance on your CIBC PLC or ELC in the event of your death.

Learn moreabout personal line of credit or education line of credit life insurance.

Disability Insurance2

If you can’t work due to a disability, you can make sure your payments are covered through your CIBC PLC or ELC insurance. 

Learn moreabout personal line of credit or education line of credit disability insurance.

Get started


Terms and conditions

1 Personal Lines of Credit that exceed $150,000 require you to answer the application health questions to be approved for coverage in excess of $150,000. Even if you are not approved for the coverage in excess of $150,000, you will be covered up to $150,000. For coverage that exceeds $150,000, your coverage will begin on the day Canada Life advises you in writing that it has approved your insurance coverage for the excess amount.

2 Life Insurance and Disability Insurance for CIBC Personal Lines of Credit 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 affiliated with CIBC may earn 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), including pre-existing medical/health condition exclusions. For the complete terms and conditions, review the sample Certificate of Creditor Insurance for CIBC Personal Lines of Credit (PDF, 170 KB)Opens a new window in your browser.. 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.

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