Guaranteed Acceptance Life Insurance provides a permanent insurance solution to those aged 40 to 74 years, who may not be eligible for traditional life insurance plans. It is designed for those who are looking for a lower amount of insurance to cover final expenses and other debts remaining after death.

The coverage amount you choose will always stay the same. Your family can use the amount to cover expenses, such as funeral costs, credit card balances or unpaid bills.

  • We offer coverage amounts ranging from $5,000 to $25,000, in increments of $5,000
  • Your premium is locked in, as long as your smoker status remains the same

In the case of non-accidental death within 2 years of your effective date, the benefit amount is the sum of all premiums collected.


What is not covered:

Please note that within the first 2 years, the benefit amount payable for death other than accidental death is the sum of all premiums you have paid to date.

No benefit will be payable:

  • If death results directly or indirectly from the commission or attempted commission of an indictable criminal offence
  • If your policy is declared to be void due to a material omission of information, misrepresentation or fraud

In addition, you cannot:

  • Add a spouse to your policy after it is issued
  • Increase or decrease the coverage amount of your policy after it is issued. Additional coverage may be purchased, through a new policy, subject to a maximum total coverage amount of $25,000 for all policies issued

The above is only a summary. For details on all benefits, eligibility conditions, limitations and exclusions, please review the sample Insurance Policy (PDF, 250 KB) Opens in a new window. . The information on this website is not part of your Insurance Policy. In case of discrepancy between the information and examples provided on this website and your Insurance Policy, your Insurance Policy prevails.

Benefits offered by CIBC Guaranteed Acceptance Life Insurance

CIBC Guaranteed Acceptance Life Insurance helps protect your family from any expenses you may leave behind, should the unexpected occur.

Your Acceptance is Guaranteed

No medical or health questions asked when you apply. Acceptance is guaranteed if you are a Canadian resident between the ages of 40 and 74. Lower rates if you are a non-smoker.

Spousal Coverage is Available

Coverage amounts ranging from $5,000 to $25,000, in increments of $5,000.

Accidental Death Coverage up to 5 times your coverage amount

In the unfortunate event of an accidental death before age 80, your beneficiary could receive a benefit equal to 5 times (5X) your selected coverage amount up to a maximum of $125,000.

Living Benefit Option

After two years of continuous coverage, in the unfortunate case you are diagnosed with a terminal illness and have only up to 24 months to live, you can be eligible to receive up to 50% of your selected coverage amount.

30-day Review Period

You have 30 days from the date you receive your Insurance Policy to review. If you cancel within the first 30 days of first receiving your policy, any premium paid will be refunded and your policy will be deemed never to have been issued.

Your premium will not change

Your premium is locked in, as long as your smoker status remains the same. You will no longer be required to pay monthly premiums after you turn 95.

You can be comforted knowing your final costs will not be a burden for your loved ones.

Guaranteed Acceptance

Acceptance is guaranteed if:

  • You are a Canadian resident, and
  • You are between the ages of 40 and 74

No medical or health questions when you apply.

If you are a non-smoker, you will enjoy the benefit of lower rates.

One less thing to worry about

There are convenient ways to purchase your CIBC Guaranteed Acceptance Life Insurance


A quick and easy way to purchase CIBC Guaranteed Acceptance Life Insurance.


Get your quote in minutes


You can cancel your coverage at any time by calling  Opens your phone app.1-888-393-1110Opens your phone app.

To obtain a claim form and more information about the supporting documents that will need to be included with your completed claim form, call us at Opens your phone app1-888-393-1110 Opens your phone app..

To get a quote and buy, call a licensed insurance agent at Opens your phone app1-855-783-7623 Opens your phone app..

Note to Quebec residents: This product isn’t available online in Quebec at this time. Call one of our licensed insurance agents to get a quote and buy.