Your CIBC Personal Loan offers you a simple and convenient borrowing solution to help you achieve your goals. But should something unexpected happen, the right insurance coverage can help keep your and your family’s financial future protected.
Creditor Insurance for CIBC Personal Loans1, underwritten by The Canada Life Assurance Company (Canada Life), can help to pay off or reduce your balance in the event of your death. It can also cover your loan’s regular payments of principal and interest in the event you are unable to work due to a disability. If you lose your job through no fault of your own, this insurance can cover the interest payable on your loan.
Why choose Creditor Insurance for your CIBC Personal Loan?
Protection This insurance will protect your CIBC Personal Loan and make sure your monthly payments are made if you can’t work due to a disability or involuntary job loss, or help pay off or reduce your balance in the event of your death.
Instant approval On-the-spot approval with coverage beginning on the date your CIBC Personal Loan funds are advanced.
Convenience Don’t worry about making separate payments for your insurance premiums. They’re automatically included in your CIBC Personal Loan payments.
Customize your protection
Choose insurance that meets your needs to financially protect your CIBC Personal Loan in case of your death, disability or involuntary job loss.
Protect your and your family’s ability to make the payments on your CIBC Personal Loan If you can’t work due to a disability.