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What is life insurance?

Life insurance is essentially a contract between you and an insurance company, in which you agree to pay a premium. The purpose of the policy is to help provide financial security in the form of a lump-sum, tax-free amount, paid to a designated beneficiary when you pass away. You're eligible to apply if you’re a Canadian citizen or resident1 and fall within the age requirements for the TD Insurance life insurance plan you choose.

Why should I buy life insurance?

In the event of your death, life insurance provides a death benefit payment to your designated beneficiaries, which they can use to help cover any of your family’s financial obligations. Your designated beneficiaries can use the money however they wish, for example:

  1. Paying for your funeral expenses

  2. Paying towards outstanding debts or mortgage

  3. Maintaining their standard of living

  1. Donating to charity

  2. Replacing income lost 

Life insurance for Canadians

TD Life Insurance offerings

TD Insurance offerings include coverage from $5,000 to $10,000,000, depending on the plan you choose.
Take a look at the options below.

  • TD Term Life Insurance 

    Ideal for young adults, growing families, parents, homeowners, or anyone with financial responsibilities. 

     

  • TD Guaranteed Acceptance Life Insurance (GALI) 

    Suitable for seniors or people looking to cover end-of-life expenses. 

What’s included?

  • Term Life Insurance

    Coverage until age 80 or for life. 

    • Plans offered: 10-Year Term Life, 20-Year Term Life and Term 100 Lifetime Coverage.
    • Coverage up to $10,000,000.
    • Instant approval for up to $1,000,000 if you are under 50, up to $500,000 if you are under 60, or up to $249,999 if you are under 70 years old.2
    • Premiums do not change during the length of each policy term.3
    • Automatic renewal.
    • Option to convert a TD 10-Year or 20-Year Term Life to permanent life insurance (Term 100).4
    • Tax-free lump-sum paid to your designated beneficiary(ies).
    Get started now

  • Guaranteed Acceptance Life Insurance (GALI)

    Lifelong coverage for customers between the ages of 50 and 75.

    • Offers coverage between $5,000 and $25,000.
    • Guaranteed issue with no health questionnaire or medical exam required.
    • Premiums are guaranteed not to change.
    • When you reach age 100, your premium payment stops but coverage continues.
    • Tax-free lump-sum paid to your designated beneficiary(ies).
    Get started now

What type of life insurance may be right for me?

  • TD Term Life Insurance could be right for you if...
    • You’re between 18 and 69 years old.
    • You want to have an option to choose from a range of coverage plans such as 10-Year, 20-Year or 100-Year term policies.
    • You want coverage for a specific term at affordable rates. 
  • TD Guaranteed Acceptance Life Insurance could be right for you if...
    • You’re between 50 and 75 years old.
    • You’re looking for a lower amount of coverage.
    • You don’t want to complete a medical. questionnaire or undergo a physical exam.
    •  You find it difficult to get life insurance due to health or lifestyle factors.

What our customers say about us

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TD Life Insurance has a 4.3 /5 user rating on Google.

Our customers say it's simple, fast, and easy to get a quote and apply for TD Life Insurance. 

Want to learn more about life insurance?

What is life insurance?

You know that life insurance is important but you’re not sure where to begin. This article explains the basics. 

Life insurance without a medical exam

Here’s how you can get coverage without a medical exam with TD Guaranteed Acceptable Life Insurance. 

How much life insurance do I need?

Do you have questions about life insurance? Find out how much you may need, and what to consider when you’re calculating coverage amounts.

Learn more about life insurance

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