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. 

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..

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?