See below for ratings, quotes, and an in-depth review of TD’s life insurance products.
TD term life insurance products are significantly more expensive than the rest of the market. At an average of 18% more expensive with no clear product differentiators, we can’t see any justification for buying a TD Life insurance term policy.
Looking for the best value? See how the price of TD’s term life insurance stacks up against the prices of products offered by other Canadian term life insurance providers.
Scores are based on PolicyMe’s Term Insurance Price Index, an in-depth analysis of prices for 108 combinations of gender, age, term length, coverage amount, health status, and smoking status.
|Company||Ranking||Average price relative to market|
|RBC Insurance||1||6% lower|
|Canada Life||2||5% lower|
|BMO Insurance||4||2% lower|
|Industrial Alliance||5||1% lower|
|Sun Life||7||1% higher|
|Assumption Life||10||14% higher|
|TD Insurance||11||18% higher|
Even if you and your next-door neighbour buy life insurance from the same insurance company, you may not pay the same price. That’s because life insurance companies base your price largely on your age, policy coverage amount, policy duration, smoking status, and current health status. Some companies are more lenient about specific customer characteristics and provide better pricing than other companies for people with these characteristics.
Here’s a breakdown of how TD’s life insurance prices compare to prices offered by other companies for various customer characteristics.
|Low coverage need (<$500,000)||Poor|
|Large coverage need (>$500,000)||Poor|
|Shorter coverage need (10 years)||Poor|
|Longer coverage need (20 years)||Poor|
|Under age 40||Poor|
|Over age 40||Poor|
Excellent – The company’s prices are more affordable than the rest of the market for customers with these characteristics
Good – The company’s prices are in line with the rest of the market for customers with these characteristics
Poor – The company’s prices are more expensive than the rest of the market for customers with these characteristics
The first step to buying life insurance is figuring out how much coverage you need. Complete our free online life insurance checkup to identify your needs based on your life circumstances and financial situation.