Creditor insurance – life, disability, critical illness and job loss coverage

Illustration of a sign pointing in different directions to Tokyo, Brisbane, and Florida with suitcases and a first aid kit beside it.

If the unexpected happens ─ death, critical illness, disability, or job loss* ─ you may not be able to make your credit card, mortgage, personal line of credit or loan payments on time or at all.   Having a plan to pay back what you owe can help you and your family avoid financial stress. Creditor insurance can help cover your payments, reduce or pay off your credit balance.

CIBC Creditor Insurance is optional creditor’s group insurance, underwritten by The Canada Life Assurance Company and the Canadian Premier Life Insurance Company.

At CIBC, we offer the following types of Creditor Insurance:

Creditor Insurance for CIBC Mortgages

  • Pays off or reduces your mortgage balance if you die
  • Helps cover your mortgage payments if you become disabled or lose your job through no fault of your own


Creditor Insurance for CIBC Personal Line of Credit

  • Pays off or reduces your line of credit balance if you die
  • Helps cover your line of credit payments if you become disabled


CIBC Payment Protector™ Insurance for Credit Cards

  • Pays off or reduces your credit card balance, if you’re diagnosed with cancer, suffer a stroke or heart attack, or if you die
  • Helps cover your credit card payments if you lose your job through no fault of your own, or if you become disabled


Creditor Insurance for CIBC Personal Loans

  • Pays off or reduces your personal loan balance if you die
  • Helps cover your personal loan payments if you become disabled
  • Helps cover your personal loan interest payments if you lose your job through no fault of your own.


Learn more about CIBC Creditor Insurance


Travel insurance

Whether you are planning to visit family outside of your home province or territory, or take a vacation outside of Canada, travel insurance can help you enjoy your travels without worry.  CIBC Insurance offers the following types of travel insurance:

Emergency Travel Medical Insurance 

  • Provides coverage for eligible hospital and medical expenses resulting from an accidental injury, or new illness.


Trip Cancellation/Interruption Insurance

  • Provides coverage for non-refundable travel costs if you must cancel your trip unexpectedly due to a covered reason.


Comprehensive Travel Insurance

  • Provides Emergency Travel Medical Insurance and Trip Cancellation/Interruption Insurance  and Baggage and Personal Effects Insurance in one convenient  travel insurance plan.


Learn more about CIBC Travel Insurance