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What is TD Line of Credit Protection?

TD Line of Credit Protection has two types of optional insurance that can pay towards the outstanding balance of your TD Line of Credit after a covered event. You can apply for either Line of Credit Life Insurance, which can pay down the line of credit in the event of your death, or Line of Credit Life and Critical Illness Insurance, which in addition can help ease financial stress if you are diagnosed with a covered critical illness.

Highlights and benefits of TD Line of Credit Protection

  • Tax-free payout towards your line of credit
    If your claim is approved, a tax-free benefit is paid directly towards your outstanding line of credit balance. No appointments, beneficiaries or cheques required.
  • 30 days to review your policy
    If you change your mind within the first 30 days, and decide to cancel, we will give you a full refund of any premium paid.
  • No lock-in period
    If you change your mind, you can cancel at any time.
  • Flexible coverage options
    For TD Lines of Credit over $300,000, you can consider insuring only a partial amount3 of your line of credit balance to help your premiums better fit your budget.

Explore TD Line of Credit Protection

Line of Credit Life Insurance 

Line of Credit Life and Critical Illness Insurance

Coverage amount
  • From $300,000 up to $1,000,000 of your outstanding TD line of credit balance2.
  • From $300,000 up to $1,000,000 of your outstanding TD line of credit balance2.

What is covered1
  • Death
  • Accidental dismemberment
  • Death Accidental dismemberment
  • Life-threatening cancer
  • Acute heart attack
  • Stroke

Eligibility to Apply

You can apply if you are:

  • A TD line of credit borrower or guarantor,
  • 18 to 69 years old, and
  • A Canadian resident1.

You can apply if you are:

  • A TD line of credit borrower or guarantor,
  • 18 to 55 years old,
  • A Canadian resident1, and
  • Applying or are enrolled for Mortgage Life Insurance.

Factors used to calculate premiums

Revolving portion of your line of credit (if applicable):

Premiums are based on your age, your average daily outstanding insured balance, and the number of days in the billing period. They may fluctuate monthly depending on your Line of Credit balance.

Term portion of your line of credit:

Premiums are based on the amount you borrow at the start of your term1 and your age at that time. They stay the same for the length of your term.

Premiums for both portions are calculated separately and combined into one premium and charged to your TD Line of Credit on the last business day of each month.

Discounts

Pay less per person when there's more than one person insured. If more than one person gets insured for the same coverage on the same line of credit, a 20% discount is applied to each person's premium under our Multi-Insured Discount.1

Premium rate reduction1

For TD Personal Line of Credit:

  • A 10% reduction on amounts between $25,000 and $75,000
  • A 25% reduction on amounts between $75,000 and $1,000,000

For TD Home Equity FlexLine:

  • A 15% reduction on amounts between $150,000 and $500,000
  • A 35% reduction on amounts between $500,000 and $1,000,000

What premiums could look like

Here’s what premiums could look like for TD Line of Credit Protection for a TD Personal Line of Credit with only a revolving portion. Premiums may vary each month based on your age and the average daily outstanding insured balance.

Sample monthly premiums‡: 

Life Insurance  using 100% of a $50,000 line of credit

Life and Critical Illness Insurance using 100% of a $50,000 line of credit 

Life Insurance using 100% of  a $125,000 line of credit

Life and Critical Illness Insurance using 100% of  a $125,000 line of credit

Life Insurance using 100% of a $250,000 line of credit

Life and Critical Illness Insurance using 100% of a $250,000 line of credit

Age

Premium

30yrs

$10.26 

$20.52 

$23.22

$46.44

$43.47

$86.94

40yrs

$17.96

 $40.02

$40.64

$90.56

$76.07

$169.53

50yrs

$34.88

 $81.56 

$78.95

$184.60

$147.80

$345.59

‡ The premiums above are for the province of Ontario and include sales tax, premium rate reductions, and assume the entire credit limit is used.

For complete terms and conditions, including eligibility requirements, benefits, features, limitations and exclusions, refer to the respective Certificate of Insurance below.

TD Protection Plans Assessment Tool

With the TD Protection Plans Assessment Tool, answer a few questions to help choose the coverage that best suits your needs.

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TD Line of Credit Protection FAQs

Learn more important information with these frequently asked questions and answers.

TD Line of Credit Life Insurance and TD Line of Credit Critical Illness Insurance are optional creditor’s group insurance coverages for TD Line of Credit borrowers.

You can apply for this insurance if you are a Canadian resident and either:

  • 18–69 years old, for Life Insurance; or
  • 18–55 years old, for Critical Illness Insurance.

TD Line of Credit Critical Illness Insurance is available only if you have TD Line of Credit Life Insurance.

To learn more about eligibility, limitations, and exclusions, refer to the Certificate of Insurance & Important Documents.

The eligible products for TD Line of Credit Protection are:

  • TD Home Equity FlexLine, Home Equity Line of Credit
  • TD Personal Line of Credit
  • TD Student Line of Credit
  • TD Professional Student Line of Credit
  • TD Medical, Dental & Veterinary Student Line of Credit
  • TD Investment Secured Line of Credit. 

The first step is to complete the application, which includes selecting your coverage and answering health-related questions. Depending on the coverage amount requested and your responses to the health questions on the application, you may also be required to complete a health interview.

You can apply in branch, or call us at 1-888-983-7070.

The first step is to complete the application, which includes selecting your coverage and answering health-related questions. Depending on the coverage amount requested and your responses to the health questions on the application, you may also be required to complete a health interview.

You can apply online, in branch, or call us at 1-888-983-7070.

For TD Line of Credit Life Insurance, coverage starts on the date you apply for coverage, if:

  • The coverage requested is $50,000 or less; or
  • You answer “No” to health questions 1 - 3 on the application and the total coverage for all of your insured TD lines of credit including the amount you are applying for, is $500,000 or less.

For TD Line of Credit Critical Illness Insurance, coverage starts on the date you apply for coverage if:

  • The amount of total coverage for all your insured TD lines of credit, including the amount you are applying for, is $500,000 or less; and
  • You answer “No” to all the health questions on the application.

If you answer “Yes” to any of the health questions on the application or the total requested coverage, including any existing coverage, is greater than $500,000, you will need to complete a separate health questionnaire.

If further health information is required for the application or the total requested coverage, including any existing coverage, is greater than $500,000, you will be contacted by phone to complete a health interview. Typically, the average wait time to be contacted is within 2–3 business days. A written decision on your coverage approval status will be mailed to you.

To learn more about the coverage including benefits, conditions, restrictions, and exclusions, refer to the Certificate of Insurance & Important Documents.

TD Line of Credit Life Insurance and TD Line of Credit Critical Illness Insurance may end before your line of credit is fully paid. Some examples of scenarios when coverage may end include:

  • You are no longer a borrower on the line of credit.
  • We pay a Life Insurance benefit to your line of credit.
  • You have accumulated a total of 3 months of unpaid premiums.
  • You die.
  • TD Line of Credit Critical Illness Insurance ends on the date your Line of Credit Life Insurance ends.


We will refund any premiums we may owe you after your coverage ends. You can cancel at any time. If you cancel your coverage within the first 30 days, any premiums paid will be refunded, and coverage will be considered never to have been in force. If a claim is made within the first 30 days, a refund is not provided.

For complete details on when coverage ends, please refer to the Certificate of Insurance & Important Documents.

Depending on your line of credit limit, you could qualify for partial coverage, which allows you to customize your coverage to fit your budget and insurance needs. It also allows you to select a percentage to insure, from $300,000 to $1,000,000.

If the total of all your insured assets exceeds the coverage maximum of $1,000,000, we may offer you partial coverage.

At the time of an approved claim, the percentage is applied to the outstanding balance on your line of credit.

To learn more about partial coverage options and to see examples, refer to the Certificate of Insurance & Important Documents.

Your premium may fluctuate monthly and will be based on your age and average balance at time of billing. If you don’t carry a balance on your revolving portion during the month, you won’t pay any premiums for that portion. If you have a term portion, your premium will be based on your age and balance at the start of the term and will remain fixed for the duration of your term.

TD Line of Credit Protection offers a multi-insured discount. If more than one person becomes insured for the same coverage on the same line of credit, a 20% discount is applied to each of the individual premiums.

A premium rate reduction will apply to the cost of the insurance for average insured balances of your line of credit as follows:

For Personal Lines of Credit:

  • A 10% premium rate reduction for amounts between $25,000 and $75,000
  • A 25% premium rate reduction for amounts between $75,000 and $1,000,000

For TD Home Equity FlexLines:

  • A 15% premium rate reduction for amounts between $150,000 and $500,000
  • A 35% premium rate reduction for amounts between $500,000 and $1,000,000

To learn more about how premiums are calculated and to see the premium rate table, refer to the Certificate of Insurance & Important Documents.

The coverages have certain limitations and exclusions. Here are some examples of when an insurance benefit will not be paid:

  • If you are diagnosed with cancer (life-threatening) in the first 90 days after coverage starts, your Critical Illness Insurance coverage will be terminated, and premiums will be refunded.
  • If you are diagnosed with a covered condition within 24 months of your coverage start date and the diagnosis is related to a pre-existing condition.
  • If your loss is a result of intentional self-inflicted injury, suicide, or attempted suicide.

For complete details of coverage limitations and exclusions, please refer to the Certificate of Insurance & Important Documents.

If you have questions about your existing coverage or want to cancel your coverage, contact us at 1-888-983-7070.

If you have questions about your existing coverage or want to cancel your coverage, contact us at 1-888-983-7070.

TD Protection Plan Claims

If you need to make a claim, we’re ready to guide you every step of the way.

Find out more

Ways to Apply

  • Schedule a Call

    Ready to talk with us about TD Protection Plans and learn how our coverage options could meet your needs?

    Schedule a call

  • Call us

    Monday to Friday: 8AM to 8PM, EST

    1-888-983-7070 1-888-983-7070

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