CIBC Mortgage Disability Insurance and CIBC Mortgage Disability Insurance Plus

Transcription

1 Page 1 of 5 CIBC Mortgage Disability Insurance and CIBC Mortgage Disability Insurance Plus Your Certificate Of Insurance CIBC Mortgage Disability Insurance ( Mortgage Disability Insurance ) and CIBC Mortgage Disability Insurance Plus ( Mortgage Disability Insurance Plus ) are creditor group insurance coverages underwritten by The Canada Life Assurance Company ( Canada Life ) under Group Policy H for Mortgage Disability Insurance and under Group Policy H /411 for Mortgage Disability Insurance Plus (referred to, collectively, as the Policies, and individually, as the Policy ) issued to Canadian Imperial Bank of Commerce ( CIBC ) as the policyholder. The person approved for either the Mortgage Disability Insurance or Mortgage Disability Insurance Plus (referred to as you ) is insured under the applicable Policy for the approved CIBC brand mortgage loan provided by CIBC or one of its affiliates (such as CIBC Mortgages Inc.) that is identified in your written application ( Written Application ) or your recorded telephone conversation with a representative of Canada Life or CIBC in which you indicated your wish to apply for either the Mortgage Disability Insurance or Mortgage Disability Insurance Plus ( Verbal Application ). The Written Application and Verbal Application are also referred to in this Certificate as the Application. The mortgage loan identified in your Application is referred to in this Certificate as the Mortgage Loan. The Mortgage Disability Insurance or Mortgage Disability Insurance Plus that you are insured for is also referred to in this Certificate as the Insurance. This Insurance is subject to the terms and conditions of the Policy, your Application and this Certificate of Insurance. Who can apply for Mortgage Disability Insurance You may apply for Mortgage Disability Insurance if you are: A borrower of the Mortgage Loan; Age 18 or over and less than age 65 on the date you sign and complete your Written Application or on the date of your Verbal Application; A resident of Canada for the purposes of the Income Tax Act (Canada); Not receiving any disability pension or disability benefits from any source; and Gainfully employed and actively working at least 25 hours per week, or if you are a seasonal worker, you must: o Work at least 25 hours per week in the working season; o Be capable of performing your regular duties; o Have worked the last season; and o Have a proven work history. Who can apply for Mortgage Disability Insurance Plus (provides coverage for both Job Loss Insurance and Disability Insurance) You may apply for Mortgage Disability Insurance Plus if you are: A borrower of the Mortgage Loan; Age 18 or over and less than age 65 on the date you sign and complete your Written Application or on the date of your Verbal Application; A resident of Canada for the purposes of the Income Tax Act (Canada); Not receiving any disability pension or disability benefits from any source; Gainfully employed and actively working at least 25 hours per week; Not a seasonal worker; and Not self-employed, an independent contractor, a controlling shareholder of the company which employs you, or employed by a member of your immediate family or a company or entity controlled or owned by a member of your immediate family. A maximum of two borrowers may be insured on the Mortgage Loan, and each such borrower may be insured for either Mortgage Disability Insurance or Mortgage Disability Insurance Plus. When your Insurance begins Your application for Insurance will be automatically approved if you have answered NO to the Health Questions in the Written Application or the Verbal Application; the Mortgage Loan amount, plus the outstanding principal balances of any other Mortgage Disability Insurance and Mortgage Disability Insurance Plus insured mortgage loans combined under the Policies, is $500,000 or less (your other insured CIBC brand mortgage loans under the Policies, if any, may be referred to as Mortgages in your other Certificates of Insurance); and your Mortgage Loan has been approved by CIBC. If your application for Insurance is automatically approved, your Insurance begins (i) on the date you sign your Written Application provided the completed Written Application has been received by CIBC within a reasonable period after the date of the Written Application, and provided that all the information on the Written Application is still complete and true as of the date it is received by CIBC, or (ii) on the date of your Verbal Application. If your application for Insurance is not automatically approved, it must be sent to Canada Life for review and your Insurance will begin when Canada Life advises you in writing that your application for Insurance has been approved. If your application for Insurance is not approved, Canada Life will provide you with a notice of decline. When your Insurance ends Your Insurance ends automatically on the earliest of: The date you reach your 65 th birthday; The date CIBC receives a signed letter from you requesting cancellation. This letter must also be signed by all other borrowers of the Mortgage Loan to indicate their acknowledgement of your cancellation; The date your Mortgage Loan is paid out; The date of your death; The date you are no longer a borrower of the Mortgage Loan; The date your Mortgage Loan and/or the registered mortgage/charge securing the Mortgage Loan in favour of CIBC is assigned to another creditor at your request; The date the property being used as security for the Mortgage Loan is foreclosed or sold under a power of sale; The date when your Insurance premium payments are in arrears for 90 days; and The date CIBC or Canada Life terminates the Policy. Insurance Definitions Date of Disability means the latest of: the date of your Disability as determined by your Physician; the date you cease to work due to your Disability; and the date you are under the regular care of a Physician for your Disability. Date of Job Loss means the last date of your employment. Disability means being completely unable, due to sickness, injury, mental illness or nervous disorder, to perform your regular duties of your full-time occupation that you were engaged in immediately prior to becoming disabled. If you are a seasonal employee, Disability means being completely unable to perform the essential duties of your principal occupation due to sickness, injury, mental illness or nervous disorder. Pregnancy is considered a Disability only if it is defined as high-risk by your attending Physician, and a medical condition resulting from the pregnancy caused your Disability. All sicknesses, injuries, mental illnesses or nervous disorders that result in your Disability on the Date of Disability, or during the Disability Insurance claim period, are considered to result in only one Disability Insurance claim under the applicable Policy. Disability Insurance means the disability insurance coverage under either Mortgage Disability Insurance or Mortgage Disability Insurance Plus. Fixed Monthly Benefit Amount means: the fixed monthly benefit amount identified in your Written Application or recorded in your Verbal Application, as applicable, which was calculated by rounding the principal and interest portion of your total monthly Mortgage Loan payment on the date you applied for Insurance to the nearest $100, subject to a maximum monthly benefit amount of $3000 Job Loss means that your employment was involuntarily terminated by your employer (not for cause) or suspended as a result of layoff (temporary or permanent), and for which you are eligible to receive Government of Canada Employment Insurance Benefits. Job Loss Insurance means the job loss insurance coverage under Mortgage Disability Insurance Plus. Mortgage Loan Agreement means the agreements governing your Mortgage Loan (as renewed or otherwise amended, if applicable). Physician means a medical doctor appropriate for your condition who is duly licensed to practice in Canada and who is not a member of your family. Waiting Period means the first 60 days following the Date of Disability or Date of Job Loss.

2 Page 2 of 5 Disability Insurance Benefits: Applicable for both Mortgage Disability Insurance and Mortgage Disability Insurance Plus Your Disability Insurance benefit amount If your Disability Insurance claim is approved, Canada Life will pay the Fixed Monthly Benefit Amount to CIBC to be applied towards the payout of your Mortgage Loan. The benefit payments will be paid on each of the Mortgage Loan s scheduled payment due dates, beginning on the first scheduled payment due date after the Waiting Period, until your Disability Insurance benefit ends (see the section entitled When your Disability Insurance benefit ends ). Your Mortgage Loan payments during the Waiting Period are not covered by this Disability Insurance. If the Fixed Monthly Benefit Amount is less than your total monthly Mortgage Loan payment, you are responsible for paying the deficiency on each of the Mortgage Loan s scheduled payment due dates in accordance with your Mortgage Loan Agreement. This benefit amount is also subject to the adjustments, maximums and limits described in this section and the section below entitled Prior Coverage Recognition. The maximum monthly benefit amount is $3,000. The maximum Disability Insurance coverage is $150,000 for each insured person for each incident of Disability, and this maximum applies to all your claims under all of your Mortgage Disability Insurance and Mortgage Disability Insurance Plus insured mortgage loans combined under the Policies (your other insured CIBC brand mortgage loans under the Policies, if any, may be referred to as Mortgages in your other certificates of insurance). In the event two persons are insured on the Mortgage Loan and both have a Disability at the same time, benefits will only be paid for one Disability for one insured person for any one Disability Insurance claim period. The maximum period for which Disability Insurance benefit payments will be paid is 24 months. If the mortgage loan payment frequency specified in your Mortgage Loan Agreement is not monthly, then the benefit amount will be adjusted as follows: For semi-monthly mortgage loan payment frequency, the benefit amount is equal to the Fixed Monthly Benefit Amount divided by 2. The maximum semi-monthly benefit amount is $1,500. For weekly mortgage loan payment frequency, the benefit amount is equal to the Fixed Monthly Benefit Amount multiplied by 12, then divided by 365, and then multiplied by 7. The maximum weekly benefit amount is $ For bi-weekly mortgage loan payment frequency, the benefit amount is equal to the Fixed Monthly Benefit Amount multiplied by 12, then divided by 365, and then multiplied by 14. The maximum bi-weekly benefit amount is $1, When your Disability Insurance benefit begins If your Disability Insurance claim is approved by Canada Life, your benefit will be paid to CIBC, beginning on the first scheduled Mortgage Loan payment due date after the Waiting Period. Your Mortgage Loan payments during the Waiting Period are not covered by this Disability Insurance. The maximum period for which Disability Insurance benefit payments will be paid is 24 months. If the same Disability in respect of which you were receiving Disability Insurance benefits under the Policy recurs within 21 consecutive days of the date of your recovery or the date you return to work, and lasts a minimum of 7 consecutive days, your Disability and Disability Insurance benefits will be treated as a continuation of the same claim. You are responsible for the regular Mortgage Loan payments until the claim is approved and for any Mortgage Loan payments not covered by this Disability Insurance. For any regular Mortgage Loan payments made by you that are covered by the Disability Insurance, the insured portion of such payments will be reimbursed once the claim is approved. When your Disability Insurance benefit ends Your Disability Insurance benefit payments will automatically end on the Mortgage Loan s last scheduled payment due date prior to the earliest of: The date the Disability Insurance benefits paid total $150,000 for all of your Mortgage Disability-insured and Mortgage Disability Insurance Plus-insured mortgage loans combined under the Policies; The date 24 months of Disability Insurance benefit payments for a Disability have been paid; The date your Disability ends or you are able to return to work, as determined by Canada Life; The date you do not provide satisfactory proof of your continuing Disability to Canada Life; The date you refuse to submit to a medical examination by a Physician at the request of Canada Life; The date you are not under the regular care of a Physician; and The date your Insurance ends (see the section entitled When your Insurance ends ), other than due to CIBC or Canada Life terminating the Policy or your Insurance premium payments being in arrears for 90 days after the Date of Disability. When your Disability Insurance benefits will not be paid A Disability Insurance benefit will not be paid if: You are not completely unable to perform your regular duties of your full-time occupation or you are not completely unable to perform the essential duties of your principal occupation if you are a seasonal employee, as determined by Canada Life; You do not provide satisfactory proof of your Disability to Canada Life; You do not stop working due to your Disability; You are not under the regular care of a Physician; You refuse to submit to a medical examination by a Physician at the request of Canada Life; Your claim is as the result of a pregnancy, unless the pregnancy is defined as high-risk by your attending Physician, and a medical condition resulting from the pregnancy caused your Disability; Your Disability results from self-inflicted injury, whether you are sane or insane; Your Disability results from your use of any drug, poisonous substance, intoxicant (other than alcohol) or narcotic unless taken according to the instructions of your Physician, or unless you are participating in a rehabilitation program approved by Canada Life that starts during the Disability Insurance claim Waiting Period; Your Disability results from your alcohol abuse, unless you are participating in a rehabilitation program approved by Canada Life that starts during the Disability Insurance claim Waiting Period; Your Disability results from your operation of any motorized vehicle or watercraft while your blood alcohol concentration is higher than the legal limit; Your Disability is directly or indirectly due to, or was in any manner associated with, or occasioned by, your commission or attempted commission of a criminal offense; You did not meet the requirements in the applicable section entitled either Who can apply for Mortgage Disability Insurance or Who can apply for Mortgage Disability Insurance Plus when you applied; You gave false or incomplete information or a false declaration on the Written Application or during your Verbal Application or to any subsequent request for information; or The Insurance is not in force on the Date of Disability. Your Mortgage Loan payments during the Waiting Period are not covered by this Disability Insurance.

3 Page 3 of 5 Job Loss Insurance Benefits: Applicable for Mortgage Disability Insurance Plus only Your Job Loss Insurance benefit amount If your Job Loss Insurance claim is approved, Canada Life will pay the Fixed Monthly Benefit Amount to CIBC to be applied towards the payout of your Mortgage Loan. The benefit payments will be paid on each of the Mortgage Loan s scheduled payment due dates, beginning on the first scheduled payment due date after the Waiting Period, until your Job Loss Insurance benefit ends (see the section entitled When your Job Loss Insurance benefit ends ). Your Mortgage Loan payments during the Waiting Period are not covered by this Job Loss Insurance. If the Fixed Monthly Benefit Amount is less than your total monthly Mortgage Loan payment, you are responsible for paying the deficiency on each of the Mortgage Loan s scheduled payment due dates in accordance with your Mortgage Loan Agreement. This benefit amount is also subject to the adjustments, maximums and limits described in this section and the section below entitled Prior Coverage Recognition. The maximum monthly benefit amount is $3,000. The maximum Job Loss Insurance coverage under the Policy is $50,000 for each insured person for each incident of Job Loss, and this maximum applies to all your claims under all of your Mortgage Disability Insurance Plus insured mortgage loans combined under the Policy. In the event two persons are insured with Mortgage Disability Insurance Plus on the Mortgage Loan and both have a Job Loss at the same time, benefits will only be paid for one Job Loss for one insured person for any one Job Loss Insurance claim period. The maximum period for which Job Loss Insurance benefit payments will be paid is 6 months. If the mortgage loan payment frequency specified in your Mortgage Loan Agreement is not monthly, then the benefit amount will be adjusted as follows: For semi-monthly mortgage loan payment frequency, the benefit amount is equal to the Fixed Monthly Benefit Amount divided by 2. The maximum semi-monthly benefit amount is $1,500. For weekly mortgage loan payment frequency, the benefit amount is equal to the Fixed Monthly Benefit Amount multiplied by 12, then divided by 365, and then multiplied by 7. The maximum weekly benefit amount is $ For bi-weekly mortgage loan payment frequency, the benefit amount is equal to the Fixed Monthly Benefit Amount multiplied by 12, then divided by 365, and then multiplied by 14. The maximum bi-weekly benefit amount is $1, When your Job Loss Insurance benefit begins If your Job Loss Insurance claim is approved by Canada Life, your benefit will be paid to CIBC, beginning on the first scheduled Mortgage Loan payment due date after the Waiting Period. Your Mortgage Loan payments during the Waiting Period are not covered by this Job Loss Insurance. The maximum period for which Job Loss Insurance benefit payments will be paid is 6 months. You are responsible for the regular Mortgage Loan payments until the claim is approved and for any Mortgage Loan payments not covered by this Job Loss Insurance. For any regular Mortgage Loan payments made by you that are covered by the Job Loss Insurance, the insured portion of such payments will be reimbursed once the claim is approved. When your Job Loss Insurance benefit ends Your Job Loss Insurance benefit payments will automatically end on the Mortgage Loan s last scheduled payment due date prior to the earliest of: The date you or another insured borrower begin receiving Disability Insurance benefits under Policy H or H /411 for the Mortgage Loan; The date the Job Loss Insurance benefits paid total $50,000 for all of your Mortgage Disability Insurance Plus-insured mortgage loans under the Policy; The date 6 months of Job Loss Insurance benefit payments for a Job Loss have been paid; The date you return to work, or you engage in any business or occupation for wages or profit; The date you do not provide satisfactory proof of your continuing receipt of Government of Canada Employment Insurance Benefits; The date you do not provide satisfactory proof of your continuing Job Loss to Canada Life; The date your Job Loss Insurance ends (see the section entitled When your Insurance ends ), other than due to CIBC or Canada Life terminating the Policy or your Mortgage Disability Insurance Plus premium payments being in arrears for 90 days after the Date of Job Loss. When your Job Loss Insurance benefits will not be paid A Job Loss Insurance benefit will not be paid if: You do not provide satisfactory proof of your receipt of Government of Canada Employment Insurance Benefits to Canada Life; You have not been continuously employed for the 6 months prior to the Date of Job Loss; You are terminated by your employer for cause; You quit, resign or voluntarily terminate your employment; You retire, whether mandatorily or voluntarily; You have received notice of or otherwise become aware of your pending unemployment prior to applying for Mortgage Disability Insurance Plus; You or another insured borrower are receiving Disability Insurance benefits under Policy H or H /411 for the Mortgage Loan; You are laid-off from seasonal work, or are terminated from contract work; You are on maternity or parental leave or leave of absence; You are self-employed, an independent contractor, a controlling shareholder of the company which employs you, or employed by an immediate family member or a company or entity controlled or owned by an immediate family member; You did not meet the requirements in the section entitled Who can apply for Mortgage Disability Insurance Plus when you applied; You gave false or incomplete information or a false declaration on the Written Application or during your Verbal Application or to any subsequent request for information; or The Insurance is not in force on the Date of Job Loss. Your Mortgage Loan payments during the Waiting Period are not covered by this Job Loss Insurance. Waiver of premium during the Insurance benefit payment period Insurance premiums on the Mortgage Loan are waived during the period that the Disability Insurance or Job Loss Insurance benefits are being paid. Insurance premiums continue to be payable during the Waiting Period. What you pay for your Insurance Your Insurance premium payment is calculated using: your age on the date you signed and completed your Written Application or, on the date of your Verbal Application; the applicable premium rate from the applicable rate table below; and the Fixed Monthly Benefit Amount plus applicable taxes. Rates are per $100 of the Fixed Monthly Benefit Amount. Canada Life and CIBC reserve the right to change the premium rates under the Policy at any time. You will be provided with at least 30 days prior notice of any rate increases. Premium Rates for Mortgage Disability Insurance Age Group Rate per $100 $1.20 $1.50 $1.90 $2.50 $3.25 $4.25 $5.25 $5.25 Premium Rates for Mortgage Disability Insurance Plus Age Group Rate per $100 $2.49 $2.79 $3.19 $3.79 $4.54 $5.54 $6.54 $6.54

4 Page 4 of 5 For coverage for two people who both have Mortgage Disability Insurance or who both have Mortgage Disability Insurance Plus, the premium payment is based on the age of each insured person and is calculated with a 5% savings as follows: ((Fixed Monthly Benefit Amount x single premium rate / 100) x.95) + ((Fixed Monthly Benefit Amount x single premium rate / 100)) x.95) = premium payment. For example, if you are age 36, your co-borrower is age 32 and you are both insured with Mortgage Disability Insurance with a Fixed Monthly Benefit Amount of $1,000, your Mortgage Disability Insurance premium payment would be based on age 36 and age 32 and would be calculated as follows: (($1,000 x $1.50 / 100) x.95) + (($1,000 x $1.90 / 100) x.95) = $32.30 per month. Once calculated, your Insurance premium payment remains constant throughout the life of your Mortgage Loan unless i) the premium rate is changed under the applicable Policy or ii) your Mortgage Loan is paid out or you cancel your Insurance and reapply. If your Mortgage Loan is paid out or your Insurance is cancelled, and your new Written Application or Verbal Application for Insurance is accepted, your Insurance premium payments will be based on the Fixed Monthly Benefit Amount in the new application, and your age when you completed the new application. Your Insurance premium payment is due monthly and you authorize Canada Life and CIBC to collect your payment, plus any applicable taxes, by automatically debiting the same account from which you make your regular Mortgage Loan payments. Your first Insurance premium payment is not pro-rated. If the Insurance is in effect for any portion of the first monthly billing period, then the full monthly Insurance premium payment is due for that monthly billing period. If you terminate coverage prior to the premium due date for the last monthly billing period you will not be charged the premium for that period. Prior Coverage Recognition If your Application is not approved, but you meet the eligibility criteria for Prior Coverage Recognition described below and you were previously insured on a mortgage loan under Policy H or H /411 at the time it was paid out (the Prior Insured Mortgage Loan ), your benefit under this Certificate will be limited to the amount of Insurance you had on the Prior Insured Mortgage Loan with CIBC at the time the Prior Insured Mortgage Loan was paid out. You are eligible for Prior Coverage Recognition only if: your Application meets all of the conditions under the applicable section entitled either Who can apply for Mortgage Disability Insurance or Who can apply for Mortgage Disability Insurance Plus, and your Prior Insured Mortgage Loan was paid out no more than 120 days prior to the date of your Application, and you were insured on the Prior Insured Mortgage Loan under the Policy at the time it was paid out. If Prior Coverage Recognition applies, your coverage for the Mortgage Loan is effective on the date of Application. You will be notified that Prior Coverage Recognition applies to your Mortgage Loan and the amount of your benefit and insurance premium payment under this Certificate. How you make a claim An insurance claim form is available from any CIBC branch. Should you have a Disability or Job Loss, we recommend that a claim be made as soon as possible. Notice and proof of claim must be made to Canada Life within the longer of: 120 days of the Date of Disability or Date of Job Loss; or, the shortest applicable limit of time established by law in the province in which you reside, otherwise the claim will not be payable. Canada Life has the right to examine you, when, and as often as they may reasonably require, in order to adjudicate a claim or to determine the continuance of a claim. Any costs that may be incurred to obtain evidence for a claim are your responsibility. Who is the beneficiary of your insurance All insurance benefits are paid to CIBC and will be applied towards the payout of your Mortgage Loan in the same order and priority as your Mortgage Loan payments would be applied under the terms of your Mortgage Loan Agreement. You cannot choose a beneficiary or assign this Certificate of Insurance. Changes to your insurance coverage Canada Life and CIBC can elect to amend, replace or assign the Policy at any time. This may result in a change to the terms of your coverage or your coverage may be provided by a different insurance company. In the event the Policy is amended, replaced or assigned, you acknowledge and agree that your original request for coverage under the Policy will also be a request for coverage under the amended, replaced or assigned Policy, and your original Application for Insurance will continue to apply for your Insurance coverage, both before and after any such changes. You will be provided with at least 30 days prior notice of any change to the Policy that results in your coverage under this Certificate being negatively affected. Other things you should know about your insurance If you have misstated your age on your Application for Insurance, and your true age would have made you ineligible for the Insurance, Canada Life s liability will be limited to a refund of premiums paid. All premiums and benefits payable under the Policy are in Canadian dollars. This insurance is optional. You have 30 days from the receipt of your Certificate of Insurance to cancel your Insurance at no cost to you by providing written notification, in accordance with this Certificate of Insurance, to your CIBC branch. If you cancel your Insurance within 30 days of the receipt of your Certificate of Insurance, any premiums collected will be refunded and the Insurance will have never been in force. You may also cancel this Insurance anytime after the review period, in accordance with this Certificate of Insurance, with no premium refund. Canada Life and CIBC reserve the right to cancel the Policy at any time. You will be provided with at least 30 days prior notice of any such cancellation. If Canada Life discovers or determines, in its sole discretion, that it has paid one or more Insurance benefits to CIBC which was applied towards the payment of your Mortgage Loan under circumstances where you were not entitled to such benefits under the terms of the Policy or they were paid in error (the Improper Payment(s) ), CIBC will refund Canada Life an amount equal to the Improper Payment(s) and add such amount back to your Mortgage Loan owing to CIBC. CIBC is not an agent of Canada Life. No employee of CIBC has the authority to amend or waive any conditions of the Application for Insurance or any conditions of the Policy. The Insurance is underwritten by Canada Life. CIBC will receive an administration fee from Canada Life in respect of the Plans and persons promoting the Insurance on behalf of CIBC may receive compensation for such promotion. In the event of a conflict between this Certificate of Insurance and the Policy, the terms of the Policy will govern except as may otherwise be provided by law. This Certificate of Insurance forms part of the applicable Policy. Provisions regarding legal action Residents of Alberta and British Columbia: Every action or proceeding against Canada Life for the recovery of insurance money payable under the contract is absolutely barred unless commenced within the time set out in the Insurance Act. You have a right to examine and obtain a copy of the Policy and certain other written statements or records you submitted to Canada Life (if any), subject to certain access limitations. Residents of Quebec: No legal action may be brought against Canada Life unless it is brought within 3 years from the date you are notified in writing that no benefits are payable. Residents of Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, Newfoundland, P.E.I., Yukon, Northwest Territories and Nunavut: No legal action may be brought against Canada Life unless it is brought within the longer of: 12 months from the date you are notified in writing that no benefits are payable; or, the shortest applicable limit of time established by law in the province in which you reside.

5 Page 5 of 5 Protecting your personal information At The Canada Life Assurance Company, we recognize and respect the importance of privacy. When you apply for coverage, we establish a confidential file that contains your personal information. This file is kept in the offices of Canada Life or the offices of service providers authorized by Canada Life. You may exercise certain rights of access and rectification with respect to the information in your file by sending a request in writing to Canada Life at the address listed in this Certificate of Insurance. Canada Life may use service providers located within or outside Canada. A copy of the insurance Application and of the Certificate of Insurance may be provided to all other borrowers on the Mortgage Loan in order to satisfy regulatory obligations and you authorize CIBC and Canada Life to disclose this information and advise such persons of the approval or decline of the Application and if your Insurance is cancelled or otherwise ends. We limit access to personal information in your file to Canada Life staff or persons authorized by Canada Life who require it to perform their duties or services, to persons to whom you have granted access, and to persons authorized or permitted by law. Your personal information may be disclosed where required by law, including where required by foreign laws applicable to our service providers located outside Canada. Personal information that we collect will be used and disclosed for the purposes of determining your eligibility for coverage, processing your application, administering the insurance product and as set out in our Privacy Policy. This includes investigating and assessing claims, and creating and maintaining records concerning our relationship. Canada Life may collect information from and share information with CIBC and other third parties, including healthcare practitioners, medical institutions, employers, investigative agencies and other insurers or reinsurers in order to provide you with Insurance and to review any Insurance claim. Canada Life may share information with CIBC including whether Insurance was approved, declined or otherwise terminated, information regarding claims (including information collected by Canada Life during claims investigation and assessment), and information relating to complaints or litigation initiated by you or Canada Life in connection with the Insurance. CIBC uses this information to administer the Plan, provide customer service, manage its relationship with you and Canada Life, and for auditing purposes. For a copy of Canada Life s Privacy Policy or if you have questions about Canada Life s personal information policies and practices (including with respect to service providers), write to Canada Life's Chief Compliance Officer at the address listed below or refer to How you can get more information about this Insurance Should you require more information about this Insurance, please contact the CIBC Creditor HelpLine at , or write to: CIBC Creditor Customer Service, PO Box 3020, Mississauga Station A, Mississauga, Ontario L5A 4M2 You may also contact Canada Life at or write to: The Canada Life Assurance Company, 330 University Avenue, Toronto, Ontario M5G 1R8