How to refer your customers for a TD Protection Plan

TD uses a referral process to help your customers understand their TD Protection Plan options. If they are interested in learning more, provide them with the Summary of Coverage for Mortgage Critical Illness and Life Insurance or the Summary of Coverage for Line of Credit Critical Illness and Life Insurance and complete the referral form. There are two options to submit a referral form to TD:

• You can complete and submit an online referral on behalf of customers by providing them with the disclosures on the referral form and obtaining their consent. The referral form is also accessible within the TD Mortgage Solutions portal (see the Fact Sheet for details on how to use TD Mortgage Solutions to submit a referral).
• OPTIONAL: If your customer provides their consent, TD will provide you with updates via email to inform you about the status of the referral.

Once a referral is received as per customer request, a TD specialist will reach out to them within 2 to 5 business days. We’re here to help your customers every step of the way.

As a reminder, the conversation between you and the customer is not a sales conversation. Based on the referral process, you are not to attempt to sell or provide advice on TD Protection Plans to customers including refraining from discussing details related to the TD Protection Plans Assessment tool or Premium Quote Tool. A TD specialist is here to help address any questions your customers may have.

As part of the referral form, your customer can choose to be contacted by phone, email, or both.

• If your customer selects phone: A TD specialist will contact your customer within 2 to 5 business days to provide them with details on their TD Protection Plan options.
• If your customer selects email: Your customer will also receive an email with additional details about TD Protection Plans, including a link to a webpage with tools and information, and a link to apply online.
• If your customer selects both: Your customer will receive an email to confirm we have received a referral and a TD specialist will call your customer within a few business days to provide them with details on their TD Protection Plan options.

TD Protection Plan is offered to TD Mortgage or TD Home Equity FlexLine borrowers or guarantors who are Canadian residents and between the ages of 18 to 69.

If your customers are interested and eligible, provide them with the Summary of Coverage for Mortgage or Line of Credit Critical Illness and Life Insurance and complete the referral form. Advise your customer that once a referral is submitted to TD, a TD specialist will call them to discuss their eligible coverage options and address any questions.

A good opportunity to introduce TD Protection Plans is when you’re speaking to customers about helping to protect their TD Mortgage or TD Home Equity FlexLine. It’s important to start this conversation early in the customers’ borrowing journey. Invite your customers to learn more about how TD Protection Plans may help protect their financial health in the event of:

• TD Mortgage Protection: death, a covered accidental dismemberment, terminal illness or critical illness
• TD Line of Credit Protection: death, a covered accidental dismemberment or critical illness.

See below for sample scripting you can use to introduce TD Protection Plans to your customer:

"As your Broker, my role is to provide advice on your home financing options and how you can help protect your investment. After I have completed your financing application, I would like to offer you the opportunity for a TD specialist to contact you to help you understand your TD Protection Plan options for your [TD Mortgage/TD Home Equity FlexLine]. How does that sound?"

"You have the option of protecting your [TD Mortgage/TD Home Equity FlexLine] with Life & Critical Illness coverage in the event you experience an unexpected, covered event"

"This [TD Mortgage/TD Home Equity FlexLine] may be one of your largest liabilities. Protecting this [TD Mortgage/TD Home Equity FlexLine] may help you ease future financial obligations associated with your [TD Mortgage/TD Home Equity FlexLine] in case of a covered critical life event. As this is an important decision, I would like to refer you to our TD specialist, who will be able to review all your options, and how coverage may benefit you. Would you be interested in being referred to a TD specialist?"

TD Protection Plans are optional creditor’s group insurance that can pay towards the outstanding TD Mortgage or TD Home Equity FlexLine balance in the event of death or a covered critical illness.

If your customer requests further information, in addition to the Summary of Coverage for Mortgage or Line of Credit Critical Illness & Life Insurance, consider sharing the following information when helping your customer self-assess whether they are interested in being referred to TD to learn more about TD Protection Plans.

Your TD Mortgage or TD Home Equity FlexLine is a long-term financial obligation and you’ve worked hard for your home. If you aren’t sure if a TD Protection Plan is the right option for you, in addition to reviewing the Summary of Coverage for Mortgage or Line of Credit Critical Illness and Life Insurance, consider asking yourself the following questions:

• What would the impact be to my finances if my income was lost or reduced due to a covered critical illness?
• Would my partner or co-borrower be able to afford the mortgage on their own if I were to pass away or suffer a covered critical illness and unable to work?
• Do I have loved ones who rely on me financially?

If you’re interested in learning more, I can help submit a referral request to have a TD specialist contact you.

Note: If the customer is requesting to receive information via email, please indicate that you are providing the information as per their request. Here's an example for sending the email:

"As requested, here is the link to the TD Protection Plans Assessment Tool: [URL]"

You can provide your customer with the Summary of Coverage for Mortgage or Line of Credit Critical Illness and Life Insurance, available on the TDMS Portal or attached to the TD Broker Commitment email. Once a referral is received, a TD specialist will address any questions your customer may have during the follow-up call.

If the customer is requesting to receive information via email, please indicate in the email that you are providing the information as per their request. Here's an example for sending the email:

"As requested, here is the link to the TD Protection Plans Assessment Tool: [URL]"

Looking for more support? We’re here to help you. Contact TD.brokerprotectionsupport@td.com with any questions you may have.

For more information on qualified referrals, please refer to the Broker Information Kit or contact TD.brokerprotectionsupport@td.com.