Life Insurance1 helps protect your family’s ability to pay off your CIBC Personal Loan in the event of your death.

Key benefits


Protection

Outstanding principal balance of your insured CIBC Personal Loan will be paid off or reduced up to $200,000.


Instant coverage

Your coverage begins immediately on your approved CIBC Personal Loan once the loan funds are advanced and the insurance application is completed.


Convenience

You don’t need to make separate payments for your insurance premiums—they’re automatically included with your loan payment.


30-day review period

If you change your mind, you can cancel the insurance 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 and conditions or further assistance, please visit one of our banking centres or call CIBC’s Creditor Insurance Helpline at 1-800-465-6020.


Terms and conditions

1 Life Insurance for CIBC Personal 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), including pre-existing medical/health condition exclusions. Please download a sample copy of the Certificate of Insurance (PDF, 835 KB)  for the complete terms and conditions. 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.

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