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Did you know?
64% of Canadians have an emergency fund sufficient to cover only 3 months of expenses.ⓘ This means that many families could experience financial stress in paying their personal loan in case of an unforeseen event.
Why choose Creditor Insurance for CIBC Personal Loans?
Security
Feel financially confident against life’s unexpected moments. Whether you are unable to work due to a disability, lose your job through no fault of your own, or there is an unexpected loss of life, have a plan in place to help manage your expenses and finances with this coverage.
Instant approval
Get on-the-spot approval, without any health questions or medical exam, with coverage beginning when the loan funds are advanced.
Simple claims process
Focus on what matters during challenging times with our easy claims process. Visit your local banking centre or get step-by-step support by calling our Creditor Insurance Helpline at 1-800-465-6020 Opens your phone app..
Explore your coverage options
Disability Insurance for CIBC Personal Loans
Maximum benefits
This insurance pays towards the loan’s regular payment of principal and interest, plus any applicable insurance premiums. The maximum benefit for your disability and payment protector-insured loans combined is $200,000.
A 30-day waiting period applies.

Am I eligible to apply?
Payment Protector Insurance — Disability and Job Loss
Maximum benefits
In case of a disability, this insurance pays towards the loan’s regular payment of principal and interest, plus any applicable insurance premiums.
The maximum benefit for your disability and payment protector-insured loans combined is $200,000.
In case of unemployment, this insurance can cover the interest portion of your loan payment, up to maximum of 6 months.
A 30-day waiting period applies to both the benefits.

Am I eligible to apply?
Life Insurance for CIBC Personal Loans
Maximum benefit
Up to $200,000ⓘ is applied towards paying off or reducing your CIBC Personal Loan.

Am I eligible to apply?
How are my premiums calculated?
Additional resources
Certificate of Insurance for CIBC Personal Loans (PDF, 205 KB) Opens a new window.
Product summary for Creditor Insurance for CIBC Personal Loans: