You put everything into your business. It’s the focus of an enormous amount of your energy, (doing whatever it takes to make it work). Your business is the source of financial security for you, your family, your employees and everyone else who depends on it.

When you select Business Credit Life Insurance, you can help to guarantee the long-term viability of your business in the event of the death of a key person. You also can help protect the financial health of those who depend upon it.

This cost-effective life insurance protection can be arranged to pay a benefit equal to your total authorized business credit^*, up to $1,000,000. Naturally, benefits paid will first be applied to your business liabilities to the Bank. However, this special plan enables any remaining balance of the insurance funds to be paid to the relevant estate.

For more information, speak with your Account Manager or call us at the number listed below.

Affordable Protection That Means Business

Business Credit Life Insurance is designed to provide two important benefits to business customers:

1. Life Insurance Coverage: Your life, or the life of any other key person including your spouse, may be insured for the full value of your total authorized business credit ^†, up to $1,000,000. In the event of the death of an insured, the amount of your total authorized business credit ^† can be paid with any remaining benefit to be paid to the Life Insured's estate.††

2. Accidental Dismemberment Coverage: This coverage, provided at no additional cost, can pay your total business authorized credit outstanding,^† should the insured person suffer an accidental dismemberment within 365 days of an accident.

Special Group Rates

Business Credit Life Insurance has competitive group rates. Preferred rates are available for non-smokers in good health.

Premium for Each $1,000 of Insurance¹

To calculate your monthly premium, multiply the appropriate rate above by your credit balance divided by 1000.

For example, for a customer aged 35 who is eligible for preferred rates and has an outstanding credit balance of $50,000, the calculation is: 0.09 X $50,000/1,000 = $4.50 a month.

The plan also has a special option that allows you to increase your coverage by up to $25,000 each year without evidence of health.^* And, for your convenience, premium payments may be made on a monthly or annual basis and are charged automatically to your chequing account.

Eligible Business Credit Services

Insure your business loans, leases, and/or lines of credit today.

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If you are a permanent resident of Canada, are an authorized borrower, spouse of a borrower, key person or guarantor, and you are under 70 years of age, you are eligible to apply for Business Credit Life Insurance. Coverage may be applied for at any time. A brief health questionnaire may be all that is required for coverage up to $300,000. For coverage in excess of $300,000 a full medical will be arranged when and where it is most convenient for you.

†† Death benefits will not be paid if death results from suicide within 24 months of the insurance or any part thereof coming into force, or if an accidental dismemberment benefit has been paid under this Policy or a total and permanent disability benefit paid under any Group Policy issued to TD Bank or its affiliates. Accidental dismemberment benefits will not be paid if the loss is due to intentionally self-inflicted injuries, attempted suicide or an accident which occurred before the effective date of the insurance or an accident which occurred more than 12 months before the loss. Business Credit Life Insurance is underwritten by The Canada Life Assurance Company and Accidental Dismemberment underwritten by Toronto Dominion Life Insurance Company.

^*Cannot be accumulated year to year.