CIBC Term Life and CIBC Critical Illness Insurance

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Like magic, your excuses for not getting insurance have disappeared

CIBC Term Life Insurance and CIBC Critical Illness Insurance

  • Choose the coverage you need
  • Set your coverage amount based on what you can afford
  • Easy to apply with our simplified online application
  • Apply online using your phone, tablet or desktop
  • Know if you are approved with an instant response

CIBC Term Life Insurance and CIBC Critical Illness Insurance are individual insurance products underwritten by CIBC Life Insurance Company Limited.

Don’t know how much life insurance coverage you need?
Use our calculator to estimate your life insurance needs

Bye-Bye Excuses Intro (0:30)

CIBC Insurance makes your life insurance excuses disappear (0:30)

Read transcriptBye-Bye Excuses Intro
Bye-Bye Excuses Episode 1 (2:04)

Think life insurance is confusing? (2:04)

Read transcriptBye-Bye Excuses Episode 1
Bye-Bye Excuses Episode 2 (0:57)

Life insurance too complicated? (0:57)

Read transcriptBye-Bye Excuses Episode 2
Bye-Bye Excuses Episode 3 (1:02)

No time to get life insurance? (1:02)

Read transcriptBye-Bye Excuses Episode 3

Coverage

Choose the coverage you need to take care of yourself and feel good about taking care of your loved ones’ future.

CIBC Term Life Insurance provides your beneficiaries with a lump-sum payment in the event of your death. This product is ideal for you if you do not have, or do not have enough life insurance and would like to provide financial security for your loved ones. It may help maintain current lifestyle, pay for children’s education, pay off debt or cover other expenses.

Coverage is available for 10-year or 20-year terms. Coverage for a 10-year term can help you with your shorter term financial needs or is suited for those who would like to pay a consistent premium that only increases after every 10-year period. Coverage for a 20-year term can help you with longer term financial needs or is suited for those who would like to pay a consistent premium that only increases after every 20-year period.

  • Select the coverage amount you need from $50,000 to $5,000,000
  • You have the option to receive 50% of your coverage amount up to $250,000 during your lifetime if you are diagnosed with a terminal illness and have less than 12 months to live
  • You can choose who the benefit is paid to
  • The monthly premium is guaranteed for each term
  • Premiums will only increase after each term is completed
  • Coverage ends at age 75
  • You can also extend your coverage beyond age 75 by changing your term from a 10-year or 20-year term to a term that lasts for your lifetime.

A sample insurance policy with the complete terms and conditions can be viewed here: CIBC Term Life Insurance Policy (PDF, 3.3 MB)

Products and their features may change at any time. In case of discrepancy between the information provided on this website and your insurance policy, your policy prevails.


CIBC Critical Illness Insurance provides a lump sum payment if you are diagnosed with a covered critical illness and survive for at least 30 days. This product is ideal for you if you would like financial protection in the event you are diagnosed with a covered critical illness. It may assist with income replacement, covering medical expenses and maintaining your current lifestyle. The covered critical illnesses are life-threatening cancer, stroke, heart attack, and coronary artery by-pass surgery. Learn more about CIBC Critical Illness covered conditions (PDF, 45 KB)

Coverage is available for 10-year or 20-year terms. Coverage for a 10-year term is suited for those who would like to pay a consistent premium that only increases after every 10-year period. Coverage for a 20-year term is suited for those who would like to pay a consistent premium that only increases after every 20-year period.

  • Select the coverage amount you need from $15,000 to $200,000
  • The monthly premium is guaranteed for each term
  • Premiums will only increase after each term is completed
  • Coverage ends at age 75

A sample insurance policy with the complete terms and conditions can be viewed here: CIBC Critical Illness Insurance Policy (PDF, 4.1 MB)

Products and their features may change at any time. In case of discrepancy between the information provided on this website and your insurance policy, your policy prevails.


Exclusions and Limitations

What is not covered:

CIBC Term Life Insurance

No benefit will be paid if:

  • your death results from any self-inflicted injury or suicide within two years from the date that your policy comes into effect;
  • your policy is not in effect; or
  • your policy is declared void because you provided false, incorrect or incomplete information during the application process or because you committed a fraud in connection with your policy.

The above information is intended as a summary only. Please review all CIBC Term Life exclusions and limitations (PDF, 40 KB)

CIBC Critical Illness Insurance:

No benefit will be paid if:

  • the critical illness results from any condition, disease or illness not covered under the policy;
  • you do not survive for 30 days after you are diagnosed with a critical illness or you have experienced irreversible cessation of all functions of the brain before the end of the 30-day period;
  • the policy is not in effect or you are diagnosed while the policy is not in effect;
  • your policy is declared void because you provided false, incorrect or incomplete information during the application process or because you committed a fraud in connection with your policy;
  • the critical illness arises from the following:
    • any self-inflicted injury or attempted suicide,
    • intentional use or intake of any drug, intoxicant (including alcohol), narcotic or poisonous substance,
    • your attempt to commit or your commission of an indictable offence,
    • your participation in war or hostile act of the armed forces of any country, insurrection or civil commotion, or
    • your operation of any vehicle, water or aircraft while your concentration of alcohol in 100 milliliters of blood exceeds 80 milligrams or while you are under the influence of any drug, intoxicant, narcotic or poisonous substance.

Waiting Period for Cancer: There is a 90-day waiting period for life-threatening cancer coverage. This means that once your policy is in effect (or is reinstated) there is no life-threatening cancer coverage if:

  • you are diagnosed with cancer (whether covered or excluded under your policy) within 90 days of the effective date of your coverage, or
  • you have any signs, symptoms or investigations within the 90-day waiting period that lead to a diagnosis of cancer (whether covered or excluded under this policy) regardless of when the diagnosis is made.

The above information is intended as a summary only. Please review all CIBC Critical Illness exclusions and limitations here (PDF, 55 KB)

Benefits

Benefits offered by CIBC Term Life Insurance and CIBC Critical Illness Insurance:

  • Locked in Premiums – Know your current and future premiums prior to purchase
  • Convertible – You can change your term from a 10-year to a 20-year term
  • Free-Look Period – You can cancel your coverage for a full refund within the first 30 days
  • No Commitment – You can cancel your coverage at any time
  • Non-smoker Premiums – Lower premiums are available based on non-smoker status
  • Convenient – You can apply for coverage 24 hours a day, 7 days a week using our online application

Eligibility

CIBC Term Life Insurance and CIBC Critical Illness Insurance

To be eligible to apply for CIBC Term Life Insurance and/or CIBC Critical Illness Insurance you must be:

  • A resident of Canada; and
  • Between the ages of:
    • 18 to 65 years old inclusive (for 10-year term coverage)
    • 18 to 55 years old inclusive (for 20-year term coverage)

Ways to Buy

Today’s the day!

There are convenient ways to get a quote and purchase CIBC Term Life Insurance and/or CIBC Critical Illness Insurance

You may have other insurance needs and we recommend that you discuss your overall insurance needs with a licensed insurance agent. If you would like to speak to a licensed insurance agent, please call 1-888-393-1110, Monday to Friday from 8:00 am to 10:00 pm (ET).

Phone

Speak to one of our licensed insurance agents by calling 1-888-393-1110 (8:00 am to 10:00 pm ET) to get a quote and purchase this insurance.


Don’t know how much life insurance coverage you need?
Use our calculator to estimate your life insurance needs

Claims

To make a claim, please call us to request a claim form and to obtain more information about the supporting documents that you will need to include with your completed claim form. You can reach us at 1-888-393-1110 Monday to Friday from 8:00 am and 10:00 pm (ET).

Information About CIBC Life Insurance Company Limited

CIBC Term Life Insurance and CIBC Critical Illness Insurance are underwritten by CIBC Life Insurance Company Limited (CIBC Life). CIBC Life is federally incorporated under the Insurance Companies Act (Canada) and is licensed to carry on business in all provinces and territories of Canada. For more details, see Insurance Regulator Registration Information (PDF, 140 KB).

If you have a complaint, learn more about filing a complaint.

Trademarks and Disclaimers

Products and their features may change at any time. In case of discrepancy between the information provided on this website and your Insurance Policy, your Insurance Policy prevails.

The above information is intended as a summary only. Your policy will contain complete details on the terms and conditions of your coverage, including benefits, eligibility conditions, limitations and exclusions, and how to make a claim. Sample insurance policies with the complete terms and conditions can be viewed here: CIBC Term Life Insurance Policy (PDF, 3.4 MB) and CIBC Critical Illness Insurance Policy (PDF, 4.1 MB). You will receive a copy of your insurance policy once your application for coverage has been approved.

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