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TD Life Insurance review

Check out the insurance policies and products TD offers and how they match up with those from other Canadian insurers.

TD Insurance offers 10- and 20-year term life insurance coverage, as well as a Term 100 option that locks in lifetime coverage at a set price. This selection matches up nicely against rival insurers’ offerings in the relatively affordable term life category.

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Grant Surridge

Updated

Dec 23, 2020

Please note: All information about TD Life Insurance has been collected independently by Finder and this product is not available through this site.

TD Bank Group (TD) is Canada’s biggest bank in terms of total assets. It has an insurance arm called TD Insurance that offers several kinds of coverage, including life insurance, homeowner insurance and car insurance. TD Insurance is headquartered in Toronto, Ontario.

What insurance coverage options does TD offer?

TD offers life insurance products as well as coverage for homes, cars and travel. Below are the main categories of TD Insurance products.

Life insurance

Term life. This type of insurance allows you to buy coverage for a specific time period. TD offers terms of 10 and 20 years. It also offers a product it calls Term 100 that offers lifetime coverage for a locked-in cost. Term life insurance is generally the most affordable type of life insurance.
TD Guaranteed Acceptance Life insurance. This type of insurance offers financial protection for customers aged 50 to 75 with no medical questions asked.

Health insurance

Critical illness. This insurance covers costs associated with a sudden, life-altering illness. You receive a lump-sum payment.
Critical accident. Similar to critical illness insurance, this coverage provides you with a lump-sum payment if you are severely injured in an accident.
Accident disability. This insurance helps provide you with an income if you become injured and can’t work due to a serious accident.
Accidental death. This insurance specifically covers you in the event you die in an accident. The coverage amounts available are generally lower than for regular life insurance, but it is often easier to qualify and more affordable.

Other insurance options

Travel. TD offers various types of travel insurance. Coverage options include an annual plan or a single trip plan and both help to pay for emergency medical assistance.
Home and property. This insurance covers your home and belongings from damage or theft. There are policies available for homeowners, tenants, condo owners and for those who wish to ensure a seasonal property like a cottage.
Car. This insurance covers your personal vehicle in the event it is damaged in an accident or stolen.
Leisure. This is a broad category of insurance that covers your personal property in the event of accidental damage or theft. Items you can insure include motorhomes, motorcycles, snowmobiles and RVs.

Benefits and drawbacks of TD Insurance

- Variety in term life. TD Insurance offers 10- and 20-year term life insurance coverage, as well as a Term 100 option that locks in lifetime coverage at a set price. This selection matches up nicely against rival insurers’ offerings in the relatively affordable term life category.
- Quotes online. You can get basic online quotes for TD term life insurance products in what TD says is “less than a minute,” although you may have to contact a company representative to get more detailed information and to finalize the purchase.
- Guaranteed acceptance. TD guarantees you will be accepted for term life insurance if you are between the ages of 50 and 75. Of course, you may have to pay more for this type of policy and the coverage period may be short.
- Option to bundle. TD insurance lets you bundle home and auto insurance together into one package that provides up to a 10% discount on the price of buying separate policies.
- Discounts for good driving. TD Insurance offers discounts on premiums and deductibles for those with good driving records.
- Small size. TD Insurance is much smaller in terms of total assets than Canada’s traditional large insurers – Sun Life, Canada Life and Manulife. This may not matter to you personally as long as TD offers a competitive price on the policy you are seeking.
- Limited life insurance options. TD doesn’t offer the traditional whole life insurance coverage that is a staple at other big Canadian insurers. Whole life insurance is generally more expensive than term life insurance, but you can devote some of your premiums towards building long-term savings. It also does not offer disability insurance.
- Geographic limits. TD does not offer car insurance in British Columbia, Manitoba or Saskatchewan.

How to contact TD Insurance

Here are some ways to get in touch with TD Insurance.

Phone. You can call 1-866-361-2311 for general inquiries.
Email. You can visit the TD Life Insurance homepage for more details about who you need to email to get answers to your questions.
Ask a question online. The “Contact Us” section of TD Insurance’s website has a handy feature that lets you type your inquiries (or better yet, keywords about your inquiries – e.g. “Cancel policy”) into a form field that pulls up a series of answers to the most commonly asked questions. This saves you from spending time wading through a long FAQ section.

Compare other life insurance providers

1 - 4 of 4

Name	Types of Insurance	Coverage Range	Issue Ages	Medical Exam Required	Province Availability
PolicyMe Life Insurance	Term Life, Critical Illness	$100,000 - $5,000,000	18 - 75	No	AB, BC, MB, NS, ON, PEI, SK, NL, YT, NT, NU	Get fast and affordable term life insurance. Personalize your policy details and get an estimate price within seconds. No phone call, meeting or paperwork required. Get an instant decision.	Get a quote More Info	Compare	loading Fetching your data...
TermLite Term Life Insurance	Term Life	$10,000 - $1,000,000	18 - 80	No	All of Canada	Get fast and easy-to-understand term life insurance with no medical exam and no paperwork required.	Get a quote More Info	Compare	loading Fetching your data...
RBC Life Insurance	Term Life	$50,000 - $1,000,000	18 - 70	No	AB, NS, ON, PEI	Select from two unique RBC term life insurance plans to get flexible and affordable coverage that suits your lifestyle and budget. Get a free quote through Walnut.	Get a quote More Info	Compare	loading Fetching your data...
PolicyAdvisor	Whole Life, Term Life, Universal, No Medical	$25,000 - $25,000,000	18 - 75	No	AB, MB, ON	PolicyAdvisor is a digital life insurance brokerage that has partnerships with 20 insurers in Canada.	Get a quote More Info	Compare	loading Fetching your data...

Frequently asked questions about TD Insurance

Grant Surridge

Grant Surridge is an editor at Finder, specializing in finance. He’s worked in journalism and communications for over a decade, his previous roles including business reporter at the National Post and online editor at Reuters. Grant has a Bachelor of Commerce from the University of Manitoba and a Journalism degree from the University of King’s College. Grant is a long-suffering fan of his beloved hometown Winnipeg Jets.

TD Life Insurance review

Check out the insurance policies and products TD offers and how they match up with those from other Canadian insurers.

What insurance coverage options does TD offer?

Life insurance

Health insurance

Other insurance options

Benefits and drawbacks of TD Insurance

Benefits

Drawbacks

How to contact TD Insurance

Compare other life insurance providers

Frequently asked questions about TD Insurance

How do I make a claim?

How do I check my coverage or make changes to an existing policy?

How can I replace my TD insurance card?

How do I cancel my TD Insurance policy?

Grant Surridge

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