With Life Insurance for CIBC Personal Lines of Credit1, underwritten by The Canada Life Assurance Company (Canada Life), your family won’t have to worry about making the payments on your CIBC Personal Line of Credit (PLC) or Education Line of Credit (ELC), in the event of your death.

Key benefits

Outstanding balance of your CIBC PLC/ELC would be reduced or paid off up to $300,000 (and up to $750,000 for all of your life insured CIBC PLC/ELCs).

Instant coverage 
On-the-spot approval for a CIBC PLC/ELC up to $150,000* with coverage beginning immediately if you are eligible to apply and your CIBC PLC/ELC is approved. 

You don’t need to make separate payments for your insurance premiums — they are automatically charged to your PLC/ELC account, and detailed on your monthly statement.

30-day review period
If you change your mind, you may cancel within the first 30 days of receiving the Certificate of Insurance and any premiums collected will be refunded.


Did you know?

45% of Canadian households believe they need more life insurance (up from 38% in 2006)2.

Get started

For more information about product terms, conditions, limitations, exclusions and other provisions or further assistance please visit one of our CIBC banking centres or call CIBC's Creditor Insurance Helpline at 1-800-465-6020. 

Terms and conditions


*The maximum PLC Life Insurance is $300,000 for each line of credit up to $750,000 for a total of three (3) CIBC Life Insured PLCs.

**PLCs that exceed this amount require you to answer the application health questions.

1 Life 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 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), including pre-existing medical/health condition exclusions. For the complete terms and conditions, please review the sample Certificate of Insurance (PDF, 170 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: LIMRA 2013 Canadian Ownership Study.