Creditor Insurance for CIBC Personal Lines of Credit ...

Creditor Insurance for CIBC Personal Lines of Credit

Distribution Guide

Life Insurance and Disability Insurance for CIBC Personal Lines of Credit

Name and Address of Insurer

The Canada Life Assurance Company ("Canada Life") 330 University Avenue Toronto, Ontario M5G 1R8 CIBC Creditor Insurance Helpline: 1 800 465-6020

Name and Address of the Distributor

Canadian Imperial Bank of Commerce ("CIBC")

(Stamp or write branch address here)

Telephone: 1 800 465-6020

The Autorit? des march?s financiers does not express an opinion on the quality of the product offered in this guide. The insurer alone is responsible for any discrepancies between the wording of the guide and the policy.

Table of Contents

INTRODUCTION........................................................................................................ 1 LIFE INSURANCE FOR CIBC PERSONAL LINES OF CREDIT ....................................... 2 DESCRIPTION OF THE PRODUCT OFFERED .............................................................. 3 Nature of the Coverage ............................................................................................. 3 SUMMARY OF SPECIFIC FEATURES .......................................................................... 3 Who is eligible for Life Insurance? ........................................................................... 3 Joint Coverage ......................................................................................................... 3

How much am I covered for? ................................................................................ 3 What your Life Insurance Coverage Costs ................................................................ 5 EXCLUSIONS IN COVERAGE .................................................................................... 6 Reductions ............................................................................................................... 7 Maximum Benefits ................................................................................................... 7 DISABILITY INSURANCE FOR CIBC PERSONAL LINES OF CREDIT ........................... 8 DESCRIPTION OF THE PRODUCT OFFERED .............................................................. 9 Nature of the Coverage............................................................................................. 9 SUMMARY OF SPECIFIC FEATURES.......................................................................... 9 Who is eligible for Disability Insurance? .................................................................. 9 Joint Coverage ......................................................................................................... 9 How much am I covered for? .................................................................................... 9 Maximum amount of Disability Insurance Benefit ................................................. 10 What your Disability Insurance Coverage Costs ..................................................... 11 When your Disability Insurance Benefits begin ...................................................... 13

When your Disability Insurance Benefits end .................................................... 13 EXCLUSIONS IN COVERAGE ................................................................................... 13 Reductions ............................................................................................................. 14 ADDITIONAL INFORMATION ABOUT YOUR INSURANCE: ......................................... 14 CANCELLATION AND END OF INSURANCE .............................................................. 14

How to cancel your Insurance coverage ............................................................. 14 WHEN YOUR INSURANCE COVERAGE BEGINS ......................................................... 15 WHEN YOUR INSURANCE COVERAGE ENDS ........................................................... 16 When my PLC is increased ...................................................................................... 16 PROOF OF LOSS OR CLAIM .................................................................................... 16 Submission of a Claim ............................................................................................ 16 Insurer's Reply ....................................................................................................... 17

Appeal of an Insurer's Decision and Recourse ................................................... 17

SIMILAR PRODUCTS............................................................................................... 18 CONTACT INFORMATION ....................................................................................... 18 REFERRAL TO THE AUTORIT? DES MARCH?S FINANCIERS .................................. 18 DEFINITIONS ......................................................................................................... 19 NOTICE OF RESCISSION OF AN INSURANCE CONTRACT ........................................ 21 PERSONAL NOTES ................................................................................................. 23

Please see the section "Definitions" for the definitions of words in italics.

INTRODUCTION

The purpose of this Distribution Guide is to provide information on Life Insurance and Disability Insurance for CIBC Personal Lines of Credit which includes Life Insurance and Disability Insurance as offered under the Group Insurance Policy issued by The Canada Life Assurance Company ("Canada Life"). Canada Life underwrites Group Insurance Policy 60149 offered exclusively to Canadian Imperial Bank of Commerce ("CIBC") clients for CIBC Personal Lines of Credit. This Distribution Guide can help you decide, without the services of an Insurance advisor, if the Insurance offered suits your specific Insurance needs. It gives details about how to apply for Insurance, how to submit a Claim and where to go for more information on the Insurance products described in this guide. If you have a question that is not answered here, you can call the CIBC Creditor Insurance Helpline at 1-800-465-6020 or visit the CIBC website at .

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