With Life Insurance for CIBC Personal Lines of Credit1, underwritten by The Canada Life Assurance Company (Canada Life), your family won’t have to worry about making the payments on your CIBC Personal Line of Credit (PLC) or Education Line of Credit (ELC), in the event of your death.

 

Key benefits

Protection

Outstanding balance of your CIBC PLC/ELC would be reduced or paid off up to $300,000 (and up to $750,000 for all of your life insured CIBC PLC/ELCs).

Instant coverage

On-the-spot approval for a CIBC PLC/ELC up to $150,000* with coverage beginning immediately if you are eligible to apply and your CIBC PLC/ELC is approved.

Convenience

You don’t need to make separate payments for your insurance premiums — they are automatically charged to your PLC/ELC account, and detailed on your monthly statement.

30-day review period

If you change your mind, you may cancel 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.

Questions?

For more information about product terms, conditions, limitations, exclusions and other provisions or further assistance please call CIBC's Creditor Insurance Helpline at 1-800-465-6020.