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.
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.
- 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.
- 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
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.