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Highlights and benefits of TD Credit Card Payment Protection Plan
- 30 days to review your policy
If you change your mind within 30 days of receiving your certificate of insurance, and decide to cancel, you will receive a full refund of any premium paid. - Convenient enrolment process
No health questions or medical exams are needed to enrol. Submit your application online at any time or by phone when activating your card. - No lock-in period
If you change your mind, you can cancel at any time.
Explore coverage
For Quebec residents only: Summary and Fact Sheet
TD Credit Card Payment Protection Plan FAQs
Learn more important information with these frequently asked questions and answers.
You may enrol if you are:
- The Primary Cardholder of the TD Credit Card Account on which Payment Protection Plan is available (U.S. cards and business credit cards are excluded),
- a Canadian resident, and
- 21 to 65 years old.
You can apply when activating your card or anytime afterward. To learn more about eligibility conditions, limitations, and exclusions, refer to the Certificate of Insurance & Important Documents.
You'll pay $1.20 (plus applicable taxes) per $100 of your insured balance2, up to $25,000, until the next statement date after you reach the age of 66 years. As an example:
Insured Balance2
$500
Premium Calculation
$500 x ($1.20 / $100)
Monthly Premium
$6.00
The rate is reduced to $0.60 on the statement date following the 66th birthday.
If you’re under the age of 66 years, lose your job through no fault of your own, and remain unemployed for more than 30 consecutive days, you may be entitled to receive job loss benefits for your insured credit card.
To be eligible, you must have been employed with the same employer for at least 3 consecutive months and must have been working for at least 25 hours a week. Your job loss coverage starts 30 days after you enrol in TD Credit Card Payment Protection Plan.
If your claim is approved, a benefit payment of 20% of your eligible outstanding credit card balance on the statement date on, or immediately before, your job loss will be applied to your credit card for every month that your unemployment continues up to a maximum benefit of $25,000.
That means if your covered job loss lasts 5 months or more, your entire balance could be paid.
To learn more about coverage, including benefits, conditions, and restrictions, refer to the Certificate of Insurance & Important Documents.
If you experience total disability due to accidental injury or illness for more than 30 consecutive days and you are regularly seeing a physician, this coverage can make monthly benefit payments equal to the greater of 20% of the eligible outstanding balance or $10, up to a maximum total benefit amount of $25,000.
To learn more about coverage, including benefits, conditions, and restrictions, refer to the Certificate of Insurance & Important Documents.
Up to the age of 80 years, this one-time benefit payment covers your eligible outstanding balance, up to $25,000.
To learn more about coverage, including benefits, conditions, and restrictions, refer to the Certificate of Insurance & Important Documents.
The coverages have certain limitations and exclusions. Here are some examples of when these insurance benefits will not be paid:
- Job Loss - if your job loss is due to or results from loss of self-employment, resignation, loss of seasonal employment, dismissal for cause, labour disputes, strikes or lockouts, disability, or any reason within 30 days of the effective date.
- Loss of Life – if your death results from suicide within 6 months of the effective date.
For complete details of coverage limitations and exclusions, please refer to the Certificate of Insurance & Important Documents.
Other plan features include a refund of premiums while receiving monthly benefits. You could also receive one monthly benefit payment upon your return to work after completion of a covered Job Loss claim or return to normal activities after completion of a covered Total Disability claim.
To learn more about plan features, including benefits, conditions, and restrictions, refer to the Certificate of Insurance & Important Documents.
When you turn 66 years of age, your premium rate is reduced from $1.20 to $0.60 (plus applicable taxes) per $100 of your insured balance2 as of your next statement date. Total Disability and Job Loss coverage end at that time while Life coverage continues until the next statement date after you reach 80 years of age.
To learn more about coverage, including benefits, conditions, and restrictions, refer to the Certificate of Insurance & Important Documents.
To cancel, contact Assurant®.
Call 1-866-315-9069, Monday–Friday, 8AM–8PM EST.
If you transfer to a different eligible TD card or replace your TD card, your insurance will be transferred to the new account with the original effective date.
No, only the Primary Cardholder is covered.
TD Credit Card Payment Protection Plan Claims
If you are already enrolled, you can file a claim or check your claim status by calling Assurant® at 1-866-315-9069, Monday–Friday, 8 AM to 8 PM EST, or by visiting cardbenefits.assurant.com.