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Odds are you will survive a critical illness. Take the financial stress out of your recovery.
In all likelihood, you know of someone who's been diagnosed with cancer, or heart attack, or stroke. It happens to approximately one out of every two men and one in three women in Canada1. But while the incidence of critical illness is increasing every year, advances in medical science are helping victims beat life-threatening illness like never before2.
Studies show that
- cancer victims of all ages are living longer than before3;
- for people under 55 who suffer a heart attack, almost 80% will survive3;
- for every stroke death, at least three stroke victims will survive3.
What if it happens to you? Many insurance policies are created to protect your family only in the event of your death. When you survive a critical illness, you may not be able to return to work, your expenses could increase dramatically, and your life insurance policy may not help. Now imagine how much easier it would be if your TD Canada Trust mortgage, up to $300,0004, was paid off when you were first diagnosed with a critical illness. No more TD Canada Trust mortgage payments, and you could concentrate on getting better.
Key questions you should ask:
- What happens if I have a Heart Attack, recover in a few weeks or months, and return to work?
- Doesn't my disability insurance cover me for living benefits?
- Why are only these three illnesses covered?
- Is breast cancer covered?
- Is prostate cancer covered?
- What if the Critical Illness is terminal?
- What if I die from some other cause, such as an accident or an illness not covered by Mortgage Critical Illness Insurance?
- Can I get Mortgage Critical Illness Insurance without also insuring my life?
- I already have Mortgage Life Insurance. Do I really need more insurance?
- My premiums are low now, but will they go up?
- Do I need to take a medical examination?
Mortgage Critical Illness Insurance works with your Mortgage Life Insurance:
Mortgage Critical Illness Insurance is a benefit you enjoy while you are alive. It builds on your Mortgage Life Insurance to complete your protection so that you can be covered if you die, OR if you fall victim to Cancer, Heart Attack, or Stroke5, and survive. Mortgage Critical Illness Insurance is available as an enhancement to your TD Mortgage Life Insurance.
Advantages Of TD Mortgage Critical Illness Insurance:
Valuable protection at low group rates
Your monthly premiums are low group premiums. They won't increase as you age unless they go up for every Mortgage Critical Illness Insurance certificate holder under the group policy. Multiple applicants receive a 15% discount off the total individual premiums. It pays to cover yourself and your spouse, if you're co-mortgagors. (Monthly Mortgage Critical Illness Insurance rates shown are per $1,000 of insured mortgage balance on effective date of coverage. Rates are current as of September 2000.)
| Your Age |
Monthly premiums* per $1,000 of single coverage |
Up to 30 |
$0.10 |
| 31-35 |
$0.14 |
| 36-40 |
$0.21 |
| 41-45 |
$0.39 |
| 46-50 |
$0.62 |
| 51-55 |
$0.96 |
| 56-609 |
$1.64 |
| 61-659 |
$2.14 |
| 66-699 |
$2.63 |
Rates are subject to change without notice.
*Provincial sales taxes apply in certain provinces.
Easy Payment Options:
Your premiums will be deducted from your chequing or savings account. You have the option of choosing weekly, bi-weekly or monthly payments.
Easy Application Method:
There are no complicated forms to fill out and, in most cases, no medical examination is required. If you're a Canadian resident between the ages of 18 and 55 and are a new or existing TD Canada Trust mortgage customer, you're eligible to apply for this unique protection. As long as your mortgage payments are up-to-date, coverage continues until your mortgage is paid off or until age 70.
Satisfaction Guaranteed!
Mortgage Critical Illness Insurance comes with a satisfaction guarantee. If you are dissatisfied with
your coverage for any reason, you may cancel it for a full refund within 30 days of purchase.
Answers to Key Questions:
- Mortgage Critical Illness Insurance can pay your full TD mortgage balance - up to $300,000.4 If you are diagnosed in writing with either Cancer,Heart Attack, or Stroke 5 by a physician licensed to practise medicine in Canada, you're eligible to file a claim.
- The disability insurance you may have at work is valuable, but disability coverage usually won't pay you a lump sum to pay off your mortgage. It provides only a monthly benefit, usually no more than 70% of your predisability income. Also, benefits may only continue for a limited time. With Mortgage Critical Illness Insurance, your largest monthly expense could be eliminated ,freeing up money you can use for health-related expenses like private nursing care, physical therapy, medical equipment, child care and babysitting services, even modifications to your home.
- The Critical Illnesses covered are the most common, occurring across all ages in Canada.7 They are the most likely to afflict the average mortgage holder.And by focusing on only the most common illnesses, we keep premiums affordable for every mortgage holder.
- Yes, if the tumour is malignant.5
- Yes, including Stage A prostate cancer.5
- Even if the Critical Illness is terminal, Mortgage Critical Illness Insurance can still pay out.
- Mortgage Critical Illness Insurance is an important extra measure of protection and provides for your peace of mind and well-being. Mortgage Life insurance can protect your family in the event of your death. Combine the two for maximum coverage.
- Mortgage Critical Illness Insurance is only available with Mortgage Life Insurance, which insures your mortgage in the event of death. By bundling these two vital forms of personal protection, we are able to offer you excellent insurance coverage at low group premium rates.
- While life insurance is important if you die unexpectedly, Mortgage Critical Illness Insurance can protect you with a living benefit that pays off your TD Canada Trust mortgage balance up to $300,000. 4 You can then concentrate on health, recovery, and your family.
- Your premiums are group premiums, which means you and thousands of other TD Canada Trust mortgage holders are insured together, lowering the underwriting risk so that we can pass on the savings to you in the form of lower premiums. The group premiums will remain the same for the duration of your mortgage. The group premiums can go up only if they go up for all Mortgage Critical Illness Insurance customers insured under the group policy.
- No medical examination is required in most cases. To apply for coverage, you simply need to complete a standard health questionnaire.
1 Canadian Cancer Statistics, 2000. More current data may be available.
2 Canadian Cancer Statistics, 1995. More current data may be available.
3 Heart and Stroke News Bureau and Canadian Cancer Society, 1997. More current data may be available.
4 Total for all mortgages held with TD Bank. Includes conventional or Canada Mortgage and Housing Corporation (CMHC) insured mortgages only.
5 As defined in the group policy and the Certificate of Insurance.
6 Mortgage Critical Illness and Life Insurance provides creditor life and critical illness coverage, underwritten by The Canada Life Assurance Company, and creditor accidental dismemberment coverage, underwritten by Toronto Dominion Life Insurance Company. Complete details of benefits, exclusions and limitations are contained in the Certificate of Insurance.
7 Statistics Canada, Health Statistics Division, 1997 and Canadian Cancer Statistics, 2000. More current data may be available.
8 In the event of a discrepancy between the information contained herein and in the group policy, the group policy will govern.
9 These rates apply only to insured Mortgage Critical Illness Insurance customers applying at time of refinance. (Mortgage Critical Illness Insurance is normally limited to customers 18 to 55 years old.)
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