Creditor Insurance for CIBC Personal Loans

Optional Creditor Insurance for CIBC Personal Loans is available as follows:

Do you...

Have personal liability for a CIBC personal loan (as a borrower or co-borrower)?
Need protection for your family in the case of an unforeseen event?

Then consider Life Insurance for CIBC Personal Loans, it might be the right product for you.

Life Insurance for CIBC Personal Loans helps protect your family or dependents by reducing or paying off the outstanding principal balance of your insured CIBC personal loans, plus up to 6 months of accrued loan interest as charged by CIBC between the date of death and the date the claim benefit is paid, should you or your insured co-borrower die.

Do you...

Have personal liability for a CIBC Personal Loan (as a borrower or co-borrower)?
Think you would not be able to make your loan payments if you were unable to earn your usual salary?

Then consider Disability Insurance for CIBC Personal Loans, it might be the right product for you.

Disability Insurance for CIBC Personal Loans makes your loans regular payment amount of principal and interest, as documented on your CIBC Personal Borrowing Agreement, or if renewed, the latest Loan Renewal Agreement document, plus any applicable insurance premiums on your insured CIBC Personal Loan(s) in the event that you are unable to work due to a disability.

Do you...

Have a personal liability for a CIBC Personal Loan (as a borrower or co-borrower)?
Worry about making your loan payments if you were unable to earn your usual salary as a result of disability or job loss?

Then consider CIBC Payment Protector Insurance for CIBC Personal Loans, it might be the right product for you.

CIBC Payment Protector Insurance for CIBC Personal Loans combines Disability Insurance and Job Loss Insurance into one insurance package (described below):

Job Loss
The Insurer pays the interest payable on the loan to CIBC until you are no longer eligible for Job Loss benefits, up to a maximum period of six months for each Job Loss occurrence. Any insurance premiums owing during the Job Loss claim period are waived. This means that the Loan's scheduled payments will be delayed for the Job Loss claim period and the term of the loan will be extended by the time period of each delay. You will be responsible for the loan's scheduled payments (including principal, interest & insurance premiums) during the extended period of the loan.
Disability
Makes your loans regular payment amount of principal & interest, as documented on your CIBC Personal Borrowing Agreement, or if renewed, the latest Loan Renewal Agreement document, plus any applicable insurance premiums on your insured CIBC Personal Loan(s) in the event that you are unable to work due to a disability.

For information on any of the insurance products above, call Telephone Banking toll-free at 1-866-525-8622 or visit your branch.

Trademarks and Disclaimers

*Products and their features may change at any time. This is a general description only. Some limitations and exclusions apply (including pre-existing condition exclusions). A detailed summary of the terms, conditions, benefits, limitations, exclusions and other provisions are contained in your Certificate of Insurance. Download a sample copy of the current Certificate of Insurance (240 KB) used for new customer enrolments, or receive your copy upon enrolment. Creditor Insurance for CIBC Personal Loans is underwritten by The Canada Life Assurance Company and administered by Canada Life and CIBC.

™ Trademark of CIBC.