TD Protection Plans

Line of Credit Life Insurance and 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

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

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

For 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 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 above.

Line of Credit Life Insurance and 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.
• 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 above.