Looking for a full review and breakdown of TD Insurance’s life insurance options?
When looking for the best life insurance policy to protect your family, it’s important to take your time to weigh your options. A life insurance policy is a decade(s) long agreement so you should be sure that it fits your specific needs.
Here, you’ll find not only the pros and cons of TD life insurance, but also an in-depth look at the features, pricing, and ratings of TD’s offerings.
TD’s life insurance products are on average 18% more expensive compared to other insurers on the market.
At this price point, you’ll want more benefits or clear product differentiators with your policy. However, TD life insurance doesn’t offer their customers much more.
We recommend shopping around for a cheaper term policy or a policy with more customization options for the same price.
Read more reviews of the top-rated life insurance companies on the market.
We collected online reviews of TD life insurance from sources like InsurEye. Hear from real customers before deciding to buy yourself.
With TD life insurance, at the lowest range, the rates start at approximately $28 per month for a woman and at $37 per month for a man. But, it all depends on your age, gender, policy coverage amount, term length, health and smoking status, and other additional risks.
There are also providers who are more lenient about specific customer traits, offering a better insurance premium for individuals with those traits.
Here’s how TD life insurance fares when it comes to pricing for customers with different backgrounds, compared to other insurance companies in Canada:
Poor: Prices are more expensive than other providers for this customer segment
Want to see how affordable life insurance in Canada can be with PolicyMe? Get a quick, online, no-obligation quote today. Your quote might just surprise you.
Here are some of the pros and cons of TD life insurance based on a range of features and pricing we looked at.
TD Insurance is part of TD Bank, a Canadian financial services company with over 10 million customers. They’re known for their banking and mortgage products.
Its insurance products include term life and permanent insurance, as well as home and auto insurance. Another division of TD Bank’s business, TD Wealth, also offers permanent life insurance.
You can also read our review of TD Mortgage life insurance.
TD Insurance is part of Toronto-Dominion Bank, or TD Bank, one of the biggest banks in Canada. TD Bank is a publicly traded company.
When it comes to pricing, how do TD’s term life products compare to other life insurance companies in Canada?
For illustrative purposes, this table offers a glimpse, featuring scores based on PolicyMe’s Term Insurance Price Index, an in-depth analysis of prices for 108 combinations of gender, age, term length, coverage amount, and additional factors like health and smoking status.
PolicyMe advisors aren’t incentivized to sell something you don’t need and coverage options are consistently simple and affordable in Canada.
TD Insurance has four main life insurance options: 10-year term life, 20-year term life, term to 100 and guaranteed acceptance term. Read about each one in more detail below.
TD life insurance products also feature:
To get TD life insurance quotes, you can go through their website or request a phone call with one of their advisors.
If you go to the TD Insurance website to get a quote online, the form will ask you questions like your birth date (to determine your age), your gender, whether you smoke or not, etc.
Alternatively, you can also go to their website and click the button to speak with an advisor. This will lead to a different form where you give your contact information. Then, a TD advisor will contact you within 2 business days.
If you don’t want to wait, see some example quotes for your age and gender now.
Pricier than others on the market, TD’s term life insurance products aren’t currently worth it for the features they offer. If they improved their features and flexibility, then they may be worth considering.
Instead, consider other life insurance companies that offer plans which are both affordable and flexible.
For example, PolicyMe was built to make life insurance more simple and more affordable for Canadians. Our online application process takes just minutes to complete and offers several term life insurance options, all backed by life insurance giant Canadian Premier.
Yes, TD Canada Trust sells life insurance. TD Insurance offers the following policy types: a 10-year term, 20-year term, term-to-100, and guaranteed acceptance life insurance.
Keep in mind, however, that their life insurance rates are 18% higher on average compared to other insurance companies. So, you’re better off getting quotes from other insurers before settling on TD Insurance.
No, TD Ameritrade does not offer life insurance policies because it is a platform for investing and trading stocks. To buy life insurance, you can check out companies like PolicyMe that offer affordable life insurance policies to Canadians.
Yes, TD can cancel your life insurance policy. Like any life insurance company, TD can cancel your current policy if you don’t pay your insurance premiums.
They can also cancel it if they find out that you’ve lied while answering health questions, including your smoking habits and other additional risks, on applicable forms.
You can cancel your TD life insurance by giving them a call:
Phone: 1-877-397-4188, option 1
Hours: Monday-Friday, 8am to 10pm ET; Saturday, 10am to 6pm ET
Note that when you cancel your current policy (a policy that’s still active), you will be charged a fee. No fees will be applied when you cancel during a renewal.
We cannot say TD is the best life insurance in Canada based on the benefits and features you get at its price point.
TD Bank’s term life insurance policies are on average 18% more expensive than others in the life insurance industry. Also, it doesn’t offer much more in terms of benefits or product differentiators that make the higher price worth it.
To contact TD Insurance for professional advice from licensed advisors, you can call them:
Phone: 1-877-397-4188, option 1
Hours: Monday-Friday, 8am to 10pm ET; Saturday, 10am to 6pm ET
Still considering your life insurance options? Check out more reviews of Canadian life insurance companies: