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Why choose the TD Accident Disability Insurance plan?
The TD Accident Disability Insurance Plan is designed to provide a monthly benefit that can help replace lost income if you were to become disabled as a direct result of a covered accident and are unable to work.
We offer a convenient claim submission process with coverage up to your 70th birthday.
Highlights and benefits of the TD Accident Disability Insurance Plan
Eligibility for the TD Accident Disability Insurance Plan
Our TD Accident Disability Insurance Plan is available to TD Customers who are Canadian residents2. Eligibility includes:
-
TD customers from the age of 18 to 60
-
You must work a minimum of 30 hours per week
-
Open to any occupation, except if you are a pilot, steeplejack, military personnel, bridge worker, structural or ironworker, homemaker, offshore oil worker, student, blaster or explosive handler, underground mining worker, professional diver or quarry worker.
What’s not covered?
Here are some examples of when an insurance benefit will not be paid:
- a pre-existing condition that results in you becoming disabled within 6 months of the effective date
- use of illegal or illicit drugs or substances, or misuse of medication obtained with or without prescription
Please refer to our Sample Insurance Certificate for defined terms and a full description of features, benefits, limitations and exclusions.
How much does the TD Accident Disability Insurance Plan cost?
Coverage starts as low as $15 per month (plus applicable taxes), as shown in the examples below.
|
Monthly premium (plus applicable taxes) |
Monthly benefit (up to 24 months for each disability period) |
Recovery benefit: one additional benefit paid at the end of each disability period |
|
|---|---|---|---|
|
$15 |
$500 |
$500 |
|
|
$20 |
$1,000 |
$1,000 |
|
|
$25 |
$1,500 |
$1,500 |
Ready to enroll in the TD Accident Disability Insurance Plan?
Frequently asked questions
1. What is the payout schedule for the TD Accident Disability Insurance Plan?
You’ll receive tax-free monthly benefits – paid directly to you and deposited into your bank account – for up to 24 months if you become disabled as a direct result of a covered accident. Monthly benefits will begin 30 days after the date you become disabled (Elimination Period). You will also receive one additional tax-free recovery benefit payment at the end of your disability period.
2. Is accidental death insurance the same as accident disability insurance?
No, Accident Disability Insurance provides a monthly benefit to insured persons who have become disabled and cannot work to help replace lost income. Accidental Death Insurance provides a lump sum benefit to the named beneficiary(ies) or estate of the life insured in the event of death caused by a covered accident.
Accidental Death Insurance provides a lump sum benefit to the named beneficiary(ies) or estate of the life insured in the event of death caused by a covered accident.
3. What is considered a disability under TD Accident Disability Insurance Plan?
If the Insured Person is working at least 20 hours per week and is employed at the starting date of disability:
Disability means that due to an injury, the insured person:
- is unable to perform the essential duties of their regular occupation; and
- is not working in any gainful occupation; and
- is under the regular care of a physician and receiving suitable treatment.
If the insured person is not working for at least 20 hours per week, or is unemployed at the starting date of disability:
Disability means that due to an injury, the insured person:
- is unable to perform the essential duties of any gainful occupation for which they have the minimum qualifications; and
- is not working at all; and
- is under the regular care of a physician and receiving suitable treatment.
4. What if I already have a coverage for accident insurance?
A good approach would be to review your current coverage to ensure you have what you require and if needed, you can always top it up with additional coverage options.
5. How much Accident Disability Insurance do I need?
The amount of coverage you need depends on your specific circumstances. A first step you can take to find out how much coverage you need is to determine how much money your loved ones would need to support you financially if you were to become disabled as a direct result of a covered accident and are unable to work. You can consider factors such as:
- Lost income
- Outstanding loans and debts
- Your children’s education costs and
- Your family’s lifestyle.
Or you could speak to one of our TD Insurance licensed advisors who can guide you through your option by calling at 1-888-788-0839 from Monday to Friday 8 a.m. to 10 p.m. and Saturday, 10 a.m. to 6 p.m
Learn more about Accident Disability Insurance
TD Accident Disability Insurance Plan is a group insurance plan underwritten by TD Life Insurance Company and distributed by TD Assurance Agency Inc.
1 The premium shown is for illustration purposes only. Your actual premium will depend on the coverage selected.
2 A Canadian resident is any person who is legally entitled to remain in Canada for at least the next one year; and has been a resident in Canada for 183 of the past 365 days (days do not need to be consecutive).
Mailing Address::
TD Life Insurance Company
P.O. Box 1 TD Centre
Toronto, Ontario M5K 1A2