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TD Protection Plans

What is TD Loan Protection?

Help prepare for challenges that could impact your ability to pay back your TD loan. TD Loan Protection is optional insurance offering Loan Life Insurance and Loan Disability Insurance, both of which can pay towards the outstanding balance of your loan in the event of a covered accidental dismemberment, total disability, or death1.

Highlights and benefits of TD Loan Protection

  • Tax-free Payments

    Tax-free lump sum or monthly payment is paid towards your outstanding loan balance for approved claims2.

  • 30-Day review period

    This plan includes a review period of 30 days for you to examine your certificate of insurance. If you are not completely satisfied, you can cancel your coverage within this period, and you will receive a refund for any premiums paid. If you cancel any time after this period, any unearned premium will be refunded.

  • Discounts available

    A 15% multi-insured discount applies if more than one person is insured for the same coverage on the same loan.

Explore TD Loan Protection

Loan Life Insurance

Loan Disability Insurance (available only with Loan Life Insurance) 

Coverage Overview

Loan Life Insurance can pay up to $250,0002 toward your outstanding TD loan balance, should you pass away or experience a covered accidental dismemberment1.

Can pay up to $2,0002 towards your monthly TD loan payments, for a maximum of 60 months, if you become totally disabled1.

Eligibility to apply

You can apply if you are:

  • a TD personal loan customer or guarantor,;
  • a Canadian resident1,;
  • 18 to 69 years old,;
  • have not applied for or received disability benefits in the past  30 days,;
  • are applying for coverage within 90 days of the loan funding date,; and
  • have a loan amortization period of 20 years or less.

You can apply if you are:

  • a TD personal loan customer or guarantor,;
  • a Canadian resident1,;
  • 18 to 69 years old,;
  • have not applied for or received disability benefits in the past 30 days,;
  • are applying or enrolled for Loan Life Insurance,;
  • are applying for coverage within 90 days of the loan funding date ,; and
  • have a loan amortization period of 20 years or less.

Factors used to calculate premium
  • Age when you apply for coverage.  
  • Loan amount when you apply for coverage.
  • Age when you apply for coverage. 
  • Loan amount when you apply for coverage.
  • Amortization period of your loan.

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

TD Protection Plans Assessment Tool

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

Try our assessment tool

TD Loan Protection FAQs

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

Loan Life Insurance and Loan Disability Insurance are optional creditor’s group insurance coverages for TD personal loan customers, borrowers, or guarantors. 

You can apply for this insurance if you are: 

  • A Canadian resident 
  • 18–69 years old 
  • Have not applied for or received disability benefits in the past 30 days. 

Your application for coverage must be received within 90 days from the loan funding date.

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

Select your coverage and complete and sign the application form. It’s as simple as that. Your application for coverage must be received within 90 days of loan funding.

You can book an appointment to apply In branch, or call us at 1-888-983-7070.

Since you’re not required to answer any health questions as part of the application process, coverage begins on either the date funds are advanced to you or the date you apply for coverage after your loan has been funded, whichever comes later.

Loan Life Insurance and Loan Disability Insurance may end before your loan is fully paid. Some examples of scenarios when coverage may end include: 

  • You are no longer a borrower or guarantor on the loan. 
  • We pay a Life Insurance benefit to your loan. 
  • You have accumulated a total of 3 months of unpaid premiums. 
  • You die. 
  • Loan Disability Insurance ends on the date your Loan 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.

Your insurance premium is based on your selected coverage type, your age at application, and the amount of your loan at the time of application, less any applicable discounts. Your premium rate will not increase for the duration of your loan, even as you get older. 

TD Loan Protection offers a multi-insured discount. If more than one person becomes insured for the same coverage on the same loan, a 15% discount is applied to each individual premium. 

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

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

  • Your total disability or death occurs due to a pre-existing condition.
  • Your total disability occurs before your coverage starts.
  • 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 above.

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

TD Protection Plans Claims 

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

Learn More

TD Protection Plans Tips and Information

Ways to Apply

  • Schedule a Call

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

    Schedule a Call

  • Call us

    Monday to Friday: 8 a.m. to 8 p.m. EST

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

  • Book an appointment

    Meet with a banking specialist in person at the branch closest to you.

    Book Now

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