Financial Considerations

What financial investment should be considered to complete the CIP program?

Planning your financial commitment (personal or employer’s) in an important step for you as a student, or an employer of a student, who is in the process of beginning their CIP designation.

To earn the CIP, students are required to complete ten courses and maintain paid membership in their local institute, both during their studies and after the completion of their designation. We know the financial investment is significant and that it equals long term value to your career.

How do these fees compare to programs for other professional designations?

Students tell us that the CIP continues to be the one of the most affordable and value-for-money professional designations, costing much less than many of the top-of-mind financial services designations. The CIP is an investment with a solid return on your future.

Prices for the CIP courses themselves vary across the country and depend on your chosen learning mode. and you are encouraged to visit your local Institute or Chapter website's CIP courses page for exact pricing per CIP course. Also, you can see a list of the national fees such as distance learning and examinations fees.

Please also note that membership of the Insurance Institute is required when you take CIP courses. Our membership year runs from June 1 to May 31 each year, and is not pro-rated for partial time. Take advantage of the benefits that membership with the Insurance Institute provides.

I’m not sure I can afford to take courses. Where can I go to seek financial assistance?

The options for financial assistance differ by provinceand there are some local and external scholarships available. To find out what options are available for you, please contact the manager at your local Insurance institute or chapter.

Does the CIP program qualify for financial assistance?

If you are currently pursuing the CIP designation and aren’t receiving financial assistance from your employer, you’ll be glad to hear that the Insurance Institute has been certified by Human Resources and Skills Development Canada to issue T2202A receipts. Eligible students who paid tuition and fees for qualifying courses are permitted to claim these on their income tax returns.

Students and graduates of full-time insurance programs in post-secondary institutions agree that scholarships are an immense help in lightening the burden of tuition payments. Learn more about scholarship opportunities for full-time college students on our website.