If you die, get a terminal illness or suffer a covered accidental dismemberment1, TD Mortgage Life Insurance can pay up to $1,000,0002 on:
- Outstanding TD mortgage less any arrears
- Discharge/penalty fees
- Overdrawn balance on your property tax account
- Interest owing
As an enhancement, you can add optional TD Mortgage Critical Illness Insurance which can pay up to $1,000,0003 if you are diagnosed with Cancer (life threatening), Acute Heart Attack, or Stroke.1
- We offer competitive group rates, and discounts may apply.4
Refer to the Protection For Your Mortgage: Product Guide & Certificate of Insurance to learn more about partial coverage, premium rate reductions, and the multi-insured discount.
1 As defined in the Certificate of Insurance. Exclusions and limitations apply.
2 Total for all TD Canada Trust mortgages. Mortgages include Conventional or Canadian Mortgage and Housing Corporation (CMHC) insured mortgages only. Self-directed RSP mortgages and mortgages on commercial properties are not eligible to be insured.
3 The insurer can pay the outstanding credit balance to The Toronto-Dominion Bank, subject to the amount of insurance you applied for and were approved for. See the Certificate of Insurance for details. Restrictions and limitations apply.
4 Your premium is based on your age and the amount of your mortgage at application, less any applicable discounts. If another person also becomes insured for Critical Illness and Life Insurance on the same mortgage, a 25% discount will be applied to each of the individual premiums.
Life, terminal illness, and optional critical illness insurance underwritten by The Canada Life Assurance Company. Accidental dismemberment coverage underwritten by TD Life Insurance Company.
TD Life Insurance Company is the authorized administrator for this insurance. For more details on insurer and/or administrator, as well as all benefits and restrictions, please refer to the Certificate of Insurance.