Help protect your family's home with Mortgage Disability Insurance underwritten by The Canada Life Assurance Company (Canada Life) if you are unable to work due to a disability.
Interested in applying for Mortgage Disability Insurance? Call 1-866-321-3639
When you buy a home, you want security to go with it. Mortgage disability insurance1 can help. It helps provide financial protection for your CIBC Mortgage if you can no longer work due to a disability, to help protect what is likely your family’s most important asset.
In case of disability1, up to $3,000 per month2 would be applied toward your CIBC Mortgage payments for up to 24 months (after a 60-day waiting period) to a maximum of $150,000 per incident of disability.
On-the-spot approval with coverage beginning immediately if you're eligible to apply and answer “No” to the health questions on the insurance application and your CIBC Mortgage is approved.
You don’t have to make separate payments for your insurance premiums — they're added to your CIBC Mortgage payment and automatically adjusted if you change the frequency of your CIBC Mortgage payment.
Saving for 2 applicants
When 2 applicants are approved for Mortgage Disability Insurance, save 5% off the combined single premium rate.
Prior coverage recognition
If you're declined for insurance coverage on your new CIBC Mortgage, but you had insurance coverage on the CIBC Mortgage you paid out, you may be eligible to have a portion of your new CIBC Mortgage insured under “Prior coverage recognition.”
Important documents and other information
Your certificate of insurance will contain the full details of your coverage, including benefits, cost, eligibility conditions, limitations and exclusions.
To help you make an informed decision, you can access a sample certificate of insurance and other important documents below.