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TD Line of Credit Insurance

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The Coverage you Need for your Line of Credit

The protection of your line of credit is of a paramount importance. Luckily for you, TD line of credit insurance is designed to provide an adequate protection for your line of credit if you suffer a covered accidental dismemberment, as defined in the Certificate of Insurance, or die. In the event of these, the insured will be paid up to $300,000 towards discharge or penalty fees, interest owing, and for the unpaid line of credit balance less any arrears. You can further enhance your TD line of credit insurance by adding TD line of credit critical illness insurance to the plan. This coverage can pay the insured up to $300,000 if he is diagnosed with stroke, acute heart attack and life-threatening cancer. TD also offers discounts and competitive group rates in its line of credit insurance.

Features and Benefits

The premium in TD line of credit insurance is based on the insured’s age at the time of billing, as well as his average balance and the number of days in the billing period, with the exclusion of discounts applied. If the average balance portion exceeds $75,000, a 20% discount will apply to the premium and a 15% discount will apply to the premium if more than one person becomes insured for critical illness and life insurance in the same line of credit.

  • The coverage will pay the insured or his beneficiaries a lump sum of $300,000 in the event of his death or if he suffers an accidental dismemberment as defined in the Certificate of Insurance.
  • The insurance benefit is paid on interest owing, discharge/penalty fees, and for the unpaid line of credit balance less than arrears.
  • If you are diagnosed with acute heart attack, stroke or life-threatening cancer, you can get paid up to $300,000 provided you add optional TD line of credit critical illness insurance as an enhancement to the plan
  • The plan offers discounts as well as competitive rates.
  • Your premium for the plan depends on your age at the time of billing, as well as your average balance and the number of days in the billing period, with the exclusion of discounts applied.
  • A 20% discount will apply to your premium if your average balance portion goes beyond $75,000.
  • If more than one person becomes insured for Critical Illness and Life insurance on the same line of credit, a 15% discount will be applied to each of the individual premiums.

 

 

Additional resources

Learn more about credit from these informative articles to help you decide in choosing the best plan for you.

Insurdinary provides a comprehensive quotes comparison sends straight to your inbox so you can start comparing health coverage in minutes. See plans from several major Canadian insurers to choose the right option for you. Our customer health specialists are also available to address your questions and concerns.

For more information, you may contact us at 1-877-574-7475, or complete the form below.

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