CIBC Travel Insurance Review 2024

CIBC is a leading North American financial institution with 13 million personal banking, business, public sector and institutional clients. CIBC offers a full range of advice, banking solutions and personal financial services across Canada, the U.S. and around the world.

CIBC Travel Insurance is administered by Allianz Global Assistance that provides travel assistance and claims service.

CIBC Travel Insurance is underwritten by Co-operators Life Insurance Company (group accident and sickness insurance) and The Sovereign General Insurance Company (individual property and casualty insurance policy).

Here are the key types of travel insurance coverage offered in CIBC plans:

• Emergency medical insurance: If you get ill or are injured on your trip, travel medical insurance can pay for emergency medical expenses, up to the coverage limits in your plan. These expenses can include doctor and hospital bills, medication and lab work, as well as medical evacuations, repatriation and arranging for a bedside companion if you are hospitalized.
• Trip cancellation insurance: If you cancel a trip for a reason listed in your travel policy, such as you or your travelling companion becoming ill, weather conditions cause a massive delay or you lose your job, trip cancellation insurance can reimburse you for prepaid, non-refundable costs.
• Travel interruption or delay insurance: Trip interruption insurance can pay for a last-minute flight home in an emergency and reimburse money that you lose by cutting a trip short due to a covered reason, including non-refundable activities and hotel stays. If your flight is delayed, your insurance can cover the cost of incidentals, such as meals or accommodations, after a specified period of time, such as 10 or 12 hours.
• Baggage insurance: Baggage travel insurance can compensate you up to your policy limits if your luggage is lost or stolen. It will reimburse the depreciated value of your suitcases and what you packed. If your bags are delayed, it can reimburse you for the cost of the necessities you’ll have to buy to tide you over. It also extends to your personal belongings, if they are lost, damaged or stolen.
• Travel accidental death & dismemberment insurance: This coverage offers compensation in the event of accidental death or catastrophic injury from an accident during your trip. This is different from flight accident insurance that covers injury while you’re on a commercial plane, during a connection or in an airport.

CIBC travel insurance offers three core plans for travelling outside of Canada, plus a specialized plan for travellers concerned about COVID-19.

Comprehensive Travel Insurance Plan: This is the most comprehensive plan offered by CIBC. It includes coverage for unforeseen medical emergencies, trip cancellation and interruption, accidental death and dismemberment coverage, and baggage and personal effects insurance.

Emergency medical treatment includes:

• Hospital accommodation in a private or semi-private room
• Services of a legally licensed physician, surgeon, anaesthetist or nurse
• Paramedical services, such as care from a chiropractor, osteopath, physiotherapist, chiropodist, acupuncturist or podiatrist, up to $500 per profession
• Lab tests and X-rays
• Local air, land or sea ambulance services, including mountain or sea evacuation
• Rental of crutches or a hospital-type bed, and the cost of splints, trusses, braces or other prosthetic appliances
• Emergency outpatient services
• Prescription drugs or medication, up to 30-day supply, to a $1,000 maximum
• Emergency dental due to a blow to the face, up to $4,000, plus an additional $1,000 upon return to Canada
• Emergency dental due to pain, up to $500

Medical benefits also include coverage to bring someone to your bedside, expenses for meals, hotel accommodations and associated expenses if you are hospitalized and/or if a medical delay prevents you from returning home, repatriation expenses and return of your remains if you die.

It’s important to note that if you purchase your coverage after you leave on your trip, there is a 48-hour waiting period for any illness.

Travel Medical Insurance: If you’re only worried about medical emergencies while travelling, this benefit offers all of the medical coverage listed above.

Trip Cancellation and Trip Interruption Enhanced Plan: This coverage option reimburses you for insured non-refundable travel expenses (such as hotels or prepaid excursions) if you have to cancel, interrupt, or delay your trip due to a covered reason. This benefit also includes accidental death and dismemberment coverage, as well as baggage and personal effects coverage.

Travel Medical Insurance—COVID-19 Insurance and Assistance Plan: If the Government of Canada has issued a Level 3 Travel Advisory for COVID-19 (Avoid non-essential travel), this plan provides emergency medical and quarantine expenses if you test positive while on your trip. This insurance covers expenses related to COVID-19 only. You need to call a licensed CIBC insurance agent for a quote and to apply for this coverage

We’ve highlighted the key benefits of CIBC travel insurance for the single trip plans to help you identify which coverage is the best fit for you.

(*) Combined maximum of $5,000 if you are hospitalized or your return home is delayed due to a medical emergency. This benefit also includes child care costs.

The price of a CIBC travel insurance plan depends on factors such as the cost of your trip, your age and the amount of coverage you choose.

Here are some examples of the cost for CIBC travel insurance single trip plans for healthy travellers based in Ontario.

(i) Travellers over age 60 need to get a quote and buy insurance separately.

CAA Travel

Emergency medical: $5 million
Cancel For Any Reason: Yes, 50% to 75%
Baggage insurance (maximum): $1,500

Related: CAA Travel Insurance Review

TD Bank Travel Insurance

Emergency medical: $5 million
Cancel For Any Reason: No
Baggage insurance (maximum): None

Related: TD Bank Travel Insurance Review

RBC Insurance

Emergency medical: Unlimited
Cancel For Any Reason: No
Baggage insurance (maximum): $1,000

Related: RBC Insurance Travel Insurance

CIBC does not offer additional add-ons, endorsements or upgrades for its travel insurance.

No.

Yes. You can buy multi-trip annual insurance if you travel more than once a year for multiple individual trips. CIBC travel insurance offers an annual plan that covers you for up to eight days or 18 days per trip.

Worldwide emergency travel assistance is available 24/7 by calling CIBC’s claims and assistance partner Allianz Global Assistance. When you have a travel emergency, depending on your coverage, the following support may be available:

• Monitoring the status of your medical case
• Communicating between the patient, family physician, employer, travel company, consulate, etc.
• Coordinating emergency medical transportation for you, as well as escort and transportation home for stranded dependent children and family members
• Returning your remains if you die away from home
• Emergency cash transfer services between you and your friend, family member, business or credit card company
• Emergency messaging services
• Replacing lost or stolen airline tickets
• Contacting a local attorney or consular office if you are arrested or detained, are in a traffic accident or require legal help
• Coordinating bail bond services

You must notify the Operations Centre within 24 hours of admission to a hospital and before any surgery is performed. If you don’t without reasonable cause, CIBC will only pay 80% of the claim amount.

The Operations Centre of Allianz Global Assistance also provides non-emergency trip services, such as:

• Passport and visa information
• Health hazards advisory
• Inoculation requirements
• Weather information
• Currency exchange information
• Consulate and embassy locations

No.

No.

A pre-existing condition is defined as any sickness, injury or medical condition that existed before the start of your coverage, whether or not diagnosed by a physician, that you showed signs or symptoms of or received medical attention for.

With a CIBC policy, any pre-existing conditions must be stable for 90 or 180 days, depending on your age, before the start of your policy to be eligible for coverage.

According to CIBC, a medical condition is considered stable when all of the following are true:

• There has been no new treatment.
• There has been no change in treatment or change in treatment frequency or type.
• There have been no signs, symptoms or new diagnosis.
• There have been no test results showing deterioration.
• There has been no hospitalization.
• There has been no referral to a specialist (made or recommended) and you are not awaiting surgery or the results of further investigations performed by any medical professional.

Exceptions to this stability requirement include routine adjustments of insulin, Coumadin or warfarin, change from a brand name to a generic medication or minor ailments.

In addition, CIBC has a number of age- and condition-specific exclusions, including:.

For policyholders aged 59 and younger, benefits are not payable due to:

• Any medical condition (other than a minor ailment) that was not stable during the 90 days before your effective date
• Any heart condition if you have used nitroglycerine during the 90 days before your effective date
• Any lung or respiratory condition if you have a prescription for or used home oxygen or prednisone in the 90 days before your effective date
• Any cancer (with some exceptions) if you have received treatment in the 90 days before your effective date
• An unrepaired aneurysm of 4 cm or greater diagnosed before your effective date

For policyholders aged 60, benefits are not payable due to:

• Any medical condition that was not stable during the 90 or 180 days before your departure date
• Any medical condition for which you received treatment at any time before your departure date

In addition to pre-existing condition exclusions, there are a number of scenarios not covered by travel insurance and it’s critical to know what not to do before you make a claim. The following are listed exclusions to coverages provided by CIBC travel insurance:

• Any further expenses incurred after you are declared medically fit to travel
• Any costs incurred as a result of travelling against the advice of a physician
• Mental or emotional disorders, including anxiety or depression
• Suicide, attempted suicide or self-inflcted injury
• Chronic use of alcohol or drugs, intoxication by alcohol, prohibited drugs or prescription medication
• Non-compliance with prescribed treatment or medical therapy
• Any non-emergency or elective treatment, palliative care or alternative therapy
• Routine prenatal or postnatal care, complications in the nine weeks before your expected due date, a high risk pregnancy or a child born on the trip
• If you return due to a medical emergency and then choose to resume your trip, no additional benefits will be paid due to recurrences or complications
• Further benefits if you choose not to return home
• Any injury as a result of training for, competing in or participating in motorized speed contests, high-risk activities, stunt activities, professional sport activities, mountain climbing or rock climbing (with or without the use of equipment)
• Any sickness or injury where there is an active travel advisory and the sickness or injury is due to the reason for the warning
• Any act of war, kidnapping, nuclear occurrence, act of terrorism, any unlawful visit, any criminal offence or illegal act
• Operating, learning to pilot or acting as a crew member on any aircraft

To be eligible for CIBC travel insurance you must be:

• A CIBC client
• A Canadian resident
• At least 15 days old and no more than 89 years old
• Insured for benefits under a Canadian government health insurance plan during the entire coverage period

You are not eligible for coverage if you:

• Have received treatment for cancer in the last three months (with the exception of treatment for basal cell or squamous cell skin cancer or breast cancer treated only with hormone therapy)
• Have a diagnosed unrepaired aneurysm of 4 cm or greater
• Require assistance with any of the following as a result of a medical condition or state of health: Eating, bathing, using the toilet, changing positions (including getting in or out of bed or a chair) or dressing

You can file a claim 24/7 by visiting the Allianz Global Assistance online claims portal or by calling the Operations Centre for a hard copy of the claims form. You can complete the claim form in writing or by using the fillable PDF format, then send your completed form, along with any required documentation, to the mailing address or email provided. Non-medical benefits and out-of-pocket expenses can be submitted through the claims portal.

You must report your claim within 30 days of occurrence and submit your completed claim form within 90 days.

If you are making an emergency medical claim, documentation may include (but is not limited to):

• Original bills and receipts
• Medical records, including an emergency room report and diagnosis from the medical facility or a medical certificate completed by the treating physician
• Completed appropriate provincial/territorial government health insurance plan forms

For a trip cancellation and trip interruption claim, you may be asked to provide:

• A medical certificate
• A death certificate
• Itemized invoices confirming the amount paid for your trip, including the cost of airfare, hotels, taxes, services fees and any other expenses
• Proof of payments, such as a credit card statement, copy of a cancelled cheque or copy of the official receipt issued by the travel agency
• A statement of refund by the travel supplier
• Original unused airline tickets (if you did not get a refund)
• Tour operator terms and conditions
• New replacement airline tickets
• Original receipts for out-of-pocket expenses

If you are making a baggage insurance coverage claim, you will need to provide:

• A completed claim form with a brief explanation of the incident leading to the loss
• Itemized list detailing the value of all lost or stolen items, together with proof of ownership, such as receipts, photos, credit card statements, owner’s manuals, etc.
• Copy of correspondence from any other source that may cover this loss, confirm payment or deny liability
• Copy of airline tickets and itinerary confirming departure and return dates

If you are making a travel accidental death and dismemberment insurance claim, you may need to provide:

• Police reports (including any witness statements), medical certificate, death certificate, and/or coroner’s report