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Line of Credit Critical Illness and Life Insurance
Your TD Canada Trust Line of Credit is one of your most flexible cash management tools. Line of Credit Life Insurance¹ can help protect your family from outstanding TD Canada Trust Line of Credit debt - one less thing to worry about in your overall financial plan.
Low-cost protection for peace of mind
Line of Credit Critical Illness and Life Insurance can pay your balance, up to $300,000¹, in the event of your death, an accident or covered critical illness. If your balance is greater than 110% of its average for the past 12 months, any benefit payable may be subject to limitations. There are also exclusions that could apply.
Pay for coverage only when you need it
The low cost of your Line of Credit Critical Illness and Life Insurance is based on your age at billing and your average Line of Credit balance, including any fixed-rate loans. Plus, on the premium for the portion of your balance that exceeds $75,000, you'll receive a 20% discount. In other words, you only pay for the coverage you need. If you choose to insure more than one customer, you will obtain a 15% discount on the total of your individual premiums. Multi-coverage can protect all insured persons in case any one of you should die or suffer a covered loss.
For example, if you are 34 years old and your spouse is 30, and your average monthly balance on your line of credit is $150,000, your monthly insurance cost would be:
| Critical Illness Insurance: |
| Life Insurance: |
| TOTAL COMBINED MONTHLY PREMIUM |
$70.00† |
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No-nonsense payment method
Your premiums are calculated automatically, based on your outstanding fixed and/or revolving credit balance, and will appear on your line of credit statement.
Applying is easy
If you are applying for a new line of credit, you most likely need to answer only a few health questions.
How to apply
To apply for TD Insurance Credit Protection products on your Line of Credit, visit your local TD Canada Trust branch.
If you are applying for a Line of Credit through EasyLine Telephone Banking or EasyWeb Internet Banking, we automatically mail you an application with your information package. Complete it and return it to secure this valuable protection.
Satisfaction guaranteed!
Line of Credit Critical Illness and Life Insurance comes with a satisfaction guarantee. If you are dissatisfied with Line of Credit Critical Illness and Life Insurance for any reason, you may cancel your coverage for a full refund within 30 days of purchase.
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