TD Protection Plans

Life is unpredictable, so it helps to be prepared for the unexpected.
TD Protection Plans can help you protect some of your biggest financial obligations.

Protection for your financial obligations

TD Mortgage Protection

This optional coverage offers Mortgage Critical Illness and/or Life Insurance that can pay towards the outstanding balance on your mortgage if you experience an unexpected covered event.

Whether you’re single or have a partner or a family to care for, planning ahead with TD Mortgage Protection can help you feel financially confident.


TD Mortgage Protection details

Should you pass away, suffer a covered terminal illness or accidental dismemberment1, Mortgage Life Insurance can pay up to $1,000,0002 towards your:

  1. Outstanding TD Mortgage balance, less any arrears

  2. Discharge fees and prepayment charges

  3. Interest owing

As an enhancement, you can also apply for Mortgage Critical Illness Insurance which can pay up to $1,000,0002 if you are diagnosed with life threatening cancer, acute heart attack or stroke1.

You are eligible to apply for this protection if you a Canadian resident, and either 18-69 years old (for Life Insurance) or 18-55 years old (for Critical Illness Insurance).

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

Refer to the Protection for Your Mortgage booklet for insurer information, complete terms and conditions, including eligibility requirements, benefits, features, limitations and exclusions.

 Protection for your Mortgage - Product Guide and Certificate of Insurance (Sample)

Quebec Residents:

 Protection for your Mortgage - Product Summary, Fact Sheet and Certificate of Insurance (Sample)


Explore TD Mortgage Protection

TD Protection Plans Assessment Tool

Answer a few questions to visualize your financial profile and how our optional creditor insurance coverage can help protect your mortgage in case of a covered health event.

TD Protection Plans Quote Tool

Get a TD Protection Plan quote by entering a few key details.


“Three weeks after my heart attack, TD paid off our mortgage.”3

‑ Allen, critical illness survivor

Your loved ones count on you to take care of them, but what if something happens to you? With Mortgage Critical Illness and Life Insurance, you can feel confident knowing your outstanding payments on your mortgage have protection.

Allen was enrolled when he had his heart attack. TD paid off his mortgage3. Watch his real-life story from 2014 and see how we were there for him when he needed it most.


TD Mortgage Protection FAQs

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


Mortgage Critical Illness and Life Insurance, or Mortgage Life Insurance, are optional creditor’s group insurance coverages for TD mortgage borrowers or guarantors.

You can apply for this insurance if you are:

  • A Canadian resident; and either
  • 18-69 years old, for Life Insurance; or
  • 18-55 years old, for Critical Illness Insurance

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


Evaluating whether TD Mortgage Protection is right for you is important. Your mortgage is a long-term financial obligation and you've worked hard for your home. If you aren’t sure if TD Mortgage Protection is the right option for you, consider asking yourself the following questions:

  • What would the impact be to my finances if my income was lost or reduced due to a covered critical illness?
  • Would my partner or co-borrower be able to afford the mortgage on their own if I were to pass away or suffer a covered critical illness?
  • Do I have loved ones who rely on me financially?

Looking for more support? Try our TD Protection Plans Assessment tool to learn more our optional creditor insurance, and see your eligible coverage options and premium quote.


The first step is to complete the application, which includes selecting your coverage and answering four to five health-related questions.

Depending on the coverage amount requested and your response to health questions on the application, you may also be required to complete a health interview.

You can apply onlinein branch or call us at 1-888-983-7070.


Coverage starts on the latest of the following dates:

  • The mortgage approval date of the mortgage that later funds; or
  • The date you apply for coverage (see below for further information); or
  • The date you are notified in writing that your coverage is approved.

For Life Insurance, coverage starts on the date you apply for coverage if:

  • You answer “No” to health questions 1–4 on the application and the amount of total requested coverage, including any existing coverage, is $500,000 or less

For Critical Illness Insurance, coverage starts on the date you apply for coverage if:

  • You answer “No” to all health questions on the application and the amount of total requested coverage, including any existing coverage, is $500,000 or less

If you answer “Yes” to any of the health questions on the application or the total requested coverage, including any existing coverage, is greater than $500,000, you will need to complete a separate health questionnaire.

If further health information is needed, you’ll be contacted by phone to complete a health interview. Typically, the average wait time to be contacted is within 2–3 business days. A written decision regarding your coverage approval status will be mailed to you.

NOTE: A benefit will only be paid if the mortgage is fully advanced under the insured person’s name.

To learn more about coverage including benefits, conditions and restrictions, refer to the Certificate of Insurance & Important Documents above.


Mortgage Critical Illness and Life Insurance or Mortgage Life Insurance may end before your mortgage is fully paid. Some examples of scenarios when coverage may end include:

  • you are no longer a borrower or guarantor on the mortgage
  • we pay a Life Insurance benefit to your mortgage
  • you have accumulated a total of 3 months of unpaid premiums
  • you die
  • Mortgage Critical Illness Insurance will end on the date your Mortgage 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, refer to the Certificate of Insurance & Important Documents above.


Depending on the balance of your mortgage, you could qualify for partial coverage which allows you to customize your coverage to fit your budget and insurance needs. It allows you to select a percentage of your balance to insure from $300,000 to $1,000,000.

If the total of all your insured mortgage balances exceeds the coverage maximum of $1,000,000, we may offer you partial coverage.

At the time of an approved claim, the percentage is applied to the outstanding balance on your mortgage.

To learn more about partial coverage options and to see examples, 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 mortgage balance at the time of application, less any applicable discounts or premium rate reductions. Your premium rate will not increase during the life of your mortgage, provided your mortgage balance does not increase or you don’t refinance your mortgage.

TD Mortgage Protection offers a multi-insured discount. If more than one person becomes insured for the same coverage on the same mortgage, a 20% discount is applied to each of the individual premiums.

We also offer a premium rate reduction depending on your insured mortgage balance at the time of application.

  • A 15% premium rate reduction will apply to the portion of your insured balance that is between $150,000 and $500,000.
  • A 35% premium rate reduction will apply to the portion of your insured balance that is between $500,000 and $1,000,000.

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:

  • If you are diagnosed with cancer (life-threatening) in the first 90 days after coverage starts, your Critical Illness Insurance coverage will be terminated, and premiums will be refunded
  • If you are diagnosed with a covered condition within 24 months of your coverage start date and the diagnosis is related to a pre-existing condition
  • If 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.


1 As defined in the Certificate of Insurance. Exclusions and limitations apply.

2 Total for all TD Canada Trust mortgages. Eligible 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. The insured person must be enrolled with active coverage prior to a covered health event. See the Certificate of Insurance for details. Restrictions and limitations apply.

Life, terminal illness, and critical illness coverages underwritten by The Canada Life Assurance Company. The Canada Life Assurance Company is located at 330 University Avenue, Toronto ON M5G 1R8, toll-free number: 1-800-380-4572. All customer inquiries should be directed to 1-888-983-7070. 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.


TD Protection Advice & Tips

Learn more about insuring your mortgage balance with TD Mortgage Protection.

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TD Line of Credit Protection

This optional coverage offers Line of Credit Critical Illness and Life Insurance, or Line of Credit Life Insurance that can pay towards the outstanding balance on your line of credit if you experience an unexpected covered event.

Whether you’re single or have a partner or a family to care for, planning ahead with TD Line of Credit Protection can help you feel financially confident.


TD Line of Credit Protection details

Should you pass away or suffer a covered accidental dismemberment1, Line of Credit Life Insurance can pay up to $1,000,0002 towards:

  1. Your unpaid line of credit balance, less any arrears

  2. Interest owing

  3. Discharge or penalty fees

As an enhancement, you can also apply for Line of Credit Critical Illness Insurance which can pay up to $1,000,0002 if you are diagnosed with cancer (life-threatening), acute heart attack or stroke1.

You are eligible to apply for this protection if you a Canadian resident, and either 18-69 years old (for Life Insurance) or 18-55 years old (for Critical Illness Insurance).

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


Refer to the Protection for Your Line of Credit booklet for insurer information, complete terms and conditions, including eligibility requirements, benefits, features, limitations and exclusions.

For TD Home Equity FlexLines:

 Protection for Your Line of Credit — TD Home Equity FlexLine – Product Guide and Certificate of Insurance (Sample)

For Personal Lines of Credit:

 Protection for Your Line of Credit — Personal Line of Credit – Product Guide and Certificate of Insurance (Sample)

Quebec residents:

For TD Home Equity FlexLines:

 Protection for Your Line of Credit — TD Home Equity FlexLine – Product Summary, Fact Sheet and Certificate of Insurance (Sample)

For Personal Lines of Credit:

 Protection for Your Line of Credit — Personal Line of Credit – Product Summary, Fact Sheet and Certificate of Insurance (Sample)


Explore TD Line of Credit Protection

TD Protection Plans Assessment Tool

Answer a few questions to visualize your financial profile and how our optional creditor insurance coverage can help protect your line of credit in case of a covered health event. 

TD Protection Plans Quote Tool

Get a TD Protection Plan quote by entering a few key details.


TD Line of Credit Protection FAQs

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


Line of Credit Critical Illness and Life Insurance are optional creditor’s group insurance coverages for TD line of credit borrowers.

You can apply for this insurance if you are:

  • A Canadian resident; and either
  • 18–69 years old, for Life Insurance; or
  • 18–55 years old, for Critical Illness Insurance

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


The first step is to complete the application, which includes selecting your coverage and answering up to a maximum of four health-related questions. Depending on the coverage amount requested and your responses to health questions on the application, you may also be required to complete a health interview.

You can apply onlinein branch or call us at 1-888-983-7070.


For Life Insurance, coverage starts on the date you apply for coverage, if:

  • The coverage is $50,000 or less; or
  • You answer “No” to health questions 1–3 on the application and the aggregate coverage is $500,000 or less

For Critical Illness Insurance, coverage starts on the date you apply for coverage if:

  • You answer “No” to all health questions on the application and the amount of total requested coverage, including any existing coverage, is $500,000 or less

If you answer ‘Yes’ to any of the health questions on the application or the total requested coverage, including any existing coverage, is greater than $500,000, you will need to complete a separate health questionnaire.

If further health information is needed, you’ll be contacted by phone to complete a health interview. Typically, the average wait time to be contacted is within 2–3 business days. A written decision on your coverage approval status will be mailed to you.

To learn more about coverage including benefits, conditions and restrictions and exclusions, refer to the Certificate of Insurance & Important Documents above.


Line of Credit Critical Illness and Life Insurance or Line of Credit Life Insurance may end before your line of credit is fully paid. Some examples of scenarios when coverage may end include:

  • you are no longer a borrower on the line of credit
  • we pay a Life Insurance benefit to your line of credit
  • you have accumulated a total of 3 months of unpaid premiums
  • you die
  • Line of Credit Critical Illness Insurance will end on the date your Line of Credit 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, refer to the Certificate of Insurance & Important Documents above.


Depending on your line of credit limit, you could qualify for partial coverage which allows you to customize your coverage to fit your budget and insurance needs. It allows you to select a percentage to insure, from $300,000 to $1,000,000.

If the total of all your insured assets exceeds the coverage maximum of $1,000,000, we may offer you partial coverage.

At the time of an approved claim, the percentage is applied to the outstanding balance on your line of credit.

To learn more about partial coverage options and to see examples, refer to the Certificate of Insurance & Important Documents above.


Your premium may fluctuate monthly and will be based on your age and average balance at time of billing. If you don’t carry a balance on your revolving portion during the month, you won’t pay any premiums for that portion. If you have a term portion, your premium will be based on your age and balance at the start of the term and will remain fixed for the duration of your term.

TD Line of Credit Protection offers a multi-insured discount. If more than one person becomes insured for the same coverage on the same line of credit, a 20% discount is applied to each of the individual premiums.

A premium rate reduction will apply to the cost of the insurance for average insured balances of your line of credit as follows:

For Personal Lines of Credit:

  • A 10% premium rate reduction for amounts between $25,000 and $75,000
  • A 25% premium rate reduction for amounts between $75,000 and $1,000,000

For TD Home Equity FlexLines:

  • A 15% premium rate reduction for amounts between $150,000 and $500,000
  • A 35% premium rate reduction for amounts between $500,000 and $1,000,000

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:

  • If you are diagnosed with cancer (life-threatening) in the first 90 days after coverage starts, your Critical Illness Insurance coverage will be terminated and premiums will be refunded
  • If you are diagnosed with a covered condition within 24 months of your coverage start date and the diagnosis is related to a pre-existing condition
  • If 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.


1 As defined in the Certificate of Insurance. Exclusions and limitations apply.

2 Total for all insured TD lines of credit. Business and commercial lines of credit are not eligible to be insured. Line of Credit Critical Illness Insurance is only available as an optional additional coverage to Line of Credit Life Insurance. Restrictions and limitations apply.

Life and critical illness coverages underwritten by The Canada Life Assurance Company. The Canada Life Assurance Company is located at 330 University Avenue, Toronto ON M5G 1R8, toll-free number: 1-800-380-4572. All customer inquiries should be directed to 1-888-983-7070. TD Life Insurance Company is located at P.O. Box 1, TD Centre, Toronto, ON M5K 1A2. 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.


TD Protection Advice & Tips

See how you can help protect your line of credit with coverage that could be there when you need it most.

Connect with us

TD Loan Protection

This optional coverage offers Loan Life and Disability Insurance, or Loan Life Insurance which can pay towards the outstanding balance on your loan if you experience an unexpected covered event.

Whether you’re single or have a partner or a family to care for, planning ahead with TD Loan Protection can help you feel financially confident.


TD Loan Protection details

In the event of death or a covered accidental dismemberment1, Loan Life Insurance can pay up to $250,0002 towards:

  1. Your outstanding TD personal loan

  2. Interest owing

As an enhancement, you can also apply for Loan Disability Insurance which can pay up to $2,000 of your monthly loan payments for a maximum of 60 months if you become totally disabled1.


Refer to the Protection for Your Personal Loan booklet for insurer information and complete terms and conditions, including eligibility requirements, benefits, features, limitations and exclusions.

 Protection for Your Personal Loan — Product Guide and Certificate of Insurance (Sample)

Quebec Residents:

 Protection for Your Personal Loan — Product Summary, Fact Sheet and Certificate of Insurance (Sample)


Explore TD Loan Protection

TD Protection Plans Assessment Tool

Answer a few questions to visualize your financial profile and how our optional creditor insurance coverage can help protect your loan in case of a covered health event. 

TD Protection Plans Quote Tool

Get a TD Protection Plan quote by entering a few key details.


TD Loan Protection FAQs

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


Loan Life and Disability Insurance or Loan Life 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 or 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 apply in branch by booking an appointment 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 on the date you apply for coverage after your loan has been funded, whichever comes later.


Loan Life and Disability Insurance or Loan Life 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 will end 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, 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 during 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.


1 As defined in the Certificate of Insurance. Exclusions and limitations apply.

2 The insurer will pay the amount of the outstanding credit balance to The Toronto-Dominion Bank subject to maximum coverage limits as outlined in the Certificate of Insurance. Loan Disability Insurance is only available as an optional additional coverage to Loan Life Insurance. Restrictions and limitations apply.

Life and disability coverages underwritten by The Canada Life Assurance Company. The Canada Life Assurance Company is located at 330 University Avenue, Toronto ON M5G 1R8, toll-free number: 1-800-380-4572. All customer inquiries should be directed to 1-888-983-7070. 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.


TD Protection Advice & Tips

See how you can help protect your line of credit with coverage that could be there when you need it most.

Connect with us

TD Credit Card Payment Protection Plan1

Learn how this optional insurance solution can help you make your TD credit card payments in the event of Job Loss, Total Disability or loss of Life.

If you meet the eligibility requirements3, you can enroll today and make the optional TD Credit Card Payment Protection Plan1 work for you:

  • Complete your enrollment online

TD Credit Card Payment Protection Plan1 details

Enjoy the security of knowing that the amount owing on your Credit Card Account can be paid off or reduced by either a lump sum payment in the event of a loss of Life or monthly payments, to a maximum of $25,000, should you experience one of the following covered events:

  • Job Loss
  • Total Disability

Refer to the Certificate of Insurance for insurer information and complete terms and conditions, including eligibility requirements, benefits, features, and limitation and exclusions. Quebec residents are also provided with a Summary and Fact sheet to review.

Certificate of Insurance

For Quebec residents only: Summary and Fact Sheet


Learn More About Job Loss Coverage.

Watch to learn more about monthly Job Loss benefits available for your insured credit card if you're under the age of 66, lose your job through no fault of your own, and remain unemployed for more than 30 consecutive days. Other restrictions and conditions apply.

TD Credit Card Payment Protection Plan1 claims

If you are already enrolled, you can file a claim or check your claim status by calling Assurant® at 1-866-315-9069 weekdays 8 a.m. to 10 p.m. EST, or by visiting cardbenefits.assurant.com

TD Credit Card Payment Protection Plan1 FAQs

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


You may enroll if:

  • You are the Primary Cardholder of the TD Credit Card Account on which Payment Protection Plan is available
  • You are a Canadian resident
  • You are between the ages of 21 and 65

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


You'll pay $1.20 (plus applicable taxes) per $100 of your insured balance2, up to $25,000 until you reach the age of 66. As an example:

Insured Balance2
$500

Premium Calculation
$500 x ($1.20 / $100)

Monthly Premium
$6.00

Rate is reduced to $0.60 on the statement date following the 66th birthday.


If you've been employed for a minimum of 25 hours per week for at least 3 months in a non-seasonal job and subsequently suffer a job loss and remain unemployed for more than 30 consecutive days, this coverage can make monthly benefit payments equal to the greater of 20% of the eligible outstanding balance or $10.

To learn more about coverage including benefits, conditions and restrictions, refer to the Certificate of Insurance & Important Documents above.


If you experience total disability due to accidental injury or illness for more than consecutive 30 days and you are regularly seeing a physician, this coverage can make monthly benefit payments equal to the greater of 20% of the eligible outstanding balance or $10.

To learn more about coverage including benefits, conditions and restrictions, refer to the Certificate of Insurance & Important Documents above.


Up to age 80, this one-time benefit payment covers your eligible outstanding balance, up to $25,000.

To learn more about coverage including benefits, conditions and restrictions, refer to the Certificate of Insurance & Important Documents above.


Plan features include a refund of premiums while receiving monthly benefits. You could also receive one monthly benefit payment upon your return to work after completion of a covered Job Loss claim or return to normal activities after completion of a covered Total Disability claim.

To learn more about coverage including benefits, conditions and restrictions, refer to the Certificate of Insurance & Important Documents above.


At age 66, your premium rate drops from $1.20 to $0.60 (plus applicable taxes) per $100 of your insured balance2. Total Disability and Job Loss coverage end while Life coverage continues until you're 80 years old.

Applicable changes appear on the next statement you receive after turning 66 years old.

To learn more about coverage including benefits, conditions and restrictions, refer to the Certificate of Insurance & Important Documents above.


To cancel, contact Assurant®. Call 1-866-315-9069 Monday to Sunday 8 a.m. to 10 p.m. EST.


If you transfer to a different eligible TD card, or replace your TD card, your insurance will be transferred to the new account with the original effective date.


No, only the Primary Cardholder is covered.


1. TD Credit Card Payment Protection Plan is underwritten by American Bankers Insurance Company of Florida (“ABIC”) and American Bankers Life Assurance Company of Florida (“ABLAC”) under Group Policy Numbers 0220PPP and 0220PPPL. The Group Master Policies are issued by the insurers to The Toronto-Dominion Bank. ABIC and ABLAC, their subsidiaries, and affiliates carry on business in Canada under the name of Assurant ®. Assurant® is a registered trademark of Assurant, Inc.

2. Insured Balance is defined as outstanding account balance, calculated as of the Statement Date if you reside in a Province/Territory other than Quebec, or as Average Daily Balance if you reside in the Province of Quebec as of the Statement Date. Average Daily Balance is calculated by adding the credit card account balance each day and dividing that total by the number of days in the statement period. Statement Date means the last date of the statement period for which Your Account statement is produced.

3. As defined in the Certificate of Insurance.

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TD Business Credit Protection

Get the coverage you need to help protect your business financially with TD Business Credit Protection.

Whether it’s with Business Credit Life Insurance or Business Credit Living Benefit Insurance, or both, you could have the outstanding balance on your business credit reduced or paid off if you experience a covered critical life event.


Business Credit Life Insurance

This optional coverage can help protect the financial obligations of your business if you or someone essential to the business pass away or experience a covered accidental dismemberment.


Business Credit Life insurance details

Business Credit Life Insurance1 provides life and accidental dismemberment coverages, and can pay up to $1 million2 per insured person1 towards:

  1. Your outstanding balance of the insured authorized business credit products

  2. Interest owing

Any surplus life benefit will be paid to your business.
We offer competitive group rates, and lower rates are available for non-smokers3.


Refer to the Protection for Your Business booklet for insurer information, and complete terms and conditions, including eligibility requirements, benefits, features, limitations and exclusions.

  Protection for Your Business — Product Guide and Certificate of Insurance for Business Credit Life Insurance (Sample)

Quebec Residents:

  Protection for Your Business — Product Summary, Fact Sheet and Certificate of Insurance for Business Credit Life Insurance (Sample)

Business Credit Living Benefit Insurance

If you find yourself unable to run your business due to a covered critical health event, this optional coverage could help pay towards the outstanding balance on your business credit.


Business Credit Living Benefit Insurance details

Business Credit Living Benefit Insurance1 provides critical illness and disability coverages and can pay a benefit towards the outstanding balance2 of your insured business credit products if the insured person1 experiences a covered critical illness1 or becomes totally disabled1:

  1. Critical Illness coverage can pay up to $1,000,000, with a maximum of $500,000 towards revolving credit products1 if the insured person1 is diagnosed with cancer (life-threatening), acute heart attack or stroke1

  2. Disability coverage can pay up to $3,000 per month for a maximum of 24 months per disability, up to an overall maximum of 48 months, if the insured person1 becomes totally disabled1


Refer to the Protection for Your Business booklet for insurer information and complete terms and conditions, including eligibility requirements, benefits, features, limitations and exclusions.

  Protection for Your Business — Product Guide and Certificate of Insurance for Business Credit Living Benefit Insurance (Sample)

Quebec Residents:

  Protection for your Business — Product Summary, Fact Sheet and Certificate of Insurance for Business Credit Living Benefit Insurance (Sample)

TD Business Credit Protection FAQs

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


Business Credit Life Insurance is optional creditor’s group insurance coverage offered exclusively to TD Bank business credit customers that are a sole proprietorship, partnership, non-public corporation or other entity operating a business or a farm.

Eligible business credit products which can be insured include business loans (including business mortgages), TD Business Credit Cards, lines of credit and overdraft protection.

You can apply for Business Credit Life Insurance coverage if you are:

  • A Canadian resident between the age of 18–69 years old; and
  • the owner or spouse of the owner of an unincorporated business;
  • a director or officer;
  • personal guarantor; or
  • an essential person to the business

For residents in Quebec to be eligible to apply for this insurance, the proposed insured person must also meet the following eligibility criteria:

  • Have a financial interest in the company as either:
  • the owner of the business; or the personal guarantor of some or all of the business credit included in the Total Authorized Business Credit

To learn more about eligibility please refer to the TD Business Credit Life Insurance Certificate of Insurance & Important Documents above.


Business Credit Living Benefit Insurance is optional creditor’s group insurance coverages offered exclusively to TD Bank business credit customers that are a sole proprietorship, partnership, non-public corporation or other entity operating a business or a farm.

Eligible business credit products which can be insured include business loans (including business mortgages), TD Business Credit Cards, lines of credit and overdraft protection.

You can apply for Business Credit Living Benefit Insurance if you are:

  • A Canadian resident between the ages of 18 and 55; and
  • the owner a business;
  • A personal guarantor of some or all of the debt included in the Total Authorized Business Credit;
  • The spouse of the owner of the business (not applicable in Quebec);
  • A director or officer of the business (not applicable in Quebec); or
  • An employee (not applicable in Quebec) whose contributions are essential to the business and without whom the business would have difficulty operating

Additional eligibility criteria also includes:

  • you must be Actively Working for wages or expectation of profit; or
  • if you are a personal guarantor and you do not have an occupation or work for the business, you must be able to perform all six Activities of Daily Living.

For all proposed insured persons, you must not have applied for or received disability payments, benefits or disability pension from any source, in the 24 months prior to applying.

To learn more about eligibility for TD Business Credit Living Benefit Insurance Certificate of Insurance & Important Documents above.


Once the business credit is approved, Business Credit Life Insurance and/or Business Credit Living Benefit Insurance starts on the day you apply for coverage if you've met the eligibility requirements and:

  • You answer “No” to all the required health questions in the application; and
  • The coverage requested is less than $500,000

If coverage requested is more than $500,000 or any answers to health questions in the application are a “Yes”, then you will need to complete a separate health questionnaire.

If further health information is needed, you’ll be contacted by phone to complete a health interview. Typically, the average wait time to be contacted is within 2–3 business days. A written decision regarding your coverage approval status will be mailed to you.


Business Credit Life Insurance and/or Business Credit Living Benefit Insurance may end before your business credit is fully paid. Some examples of scenarios when coverage may end include:

  • the insured person is no longer associated with the business, or no longer meets the ongoing eligibility requirements
  • We are notified that authorized business credit has been transferred to another bank or financial institution
  • the insured person dies

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 Business Credit Life Insurance or Business Credit Living Benefit Insurance Certificate of Insurance & Important Documents above.


The first step is to complete the application, which includes selecting your coverage and answering six health-related questions.

Depending on the coverage amount requested and your response to health questions, you may also be required to complete a health interview.

You can apply in branch or speak with your Small Business Account Manager.


The coverages have certain limitations and exclusions.

Here are some examples of when a Business Credit Life Insurance benefit will not be paid:

  • Death or accidental dismemberment results from the insured person’s commission of a criminal offence, including driving while intoxicated
  • Death occurs during the first two years of your coverage, as the result of intentional self-inflicted injury, suicide or attempted suicide (if this happens, we will refund all premiums you’ve paid)

Here are some examples of when a Business Credit Living Benefit Insurance benefit will not be paid:

  • The insured person’s critical illness or total disability occurs due to a pre-existing condition
  • The insured person is diagnosed with or have investigations that lead to a diagnosis of Cancer (life-threatening), in the first 90 days after coverage starts. (Coverage will end and premiums paid will be refunded).

For complete details of coverage limitations and exclusions, please refer to Business Credit Life Insurance or Business Credit Living Benefit Insurance Certificate of Insurance & Important Documents above.


The premium rate used to calculate your insurance premium is based on your:

  • age at billing date
  • smoking status
  • gender

Business Credit Life Insurance premiums are based on:

  • the insured person’s premium rate
  • the average of the daily life insurance coverage during the billing period

The cost of insurance will vary over time. Business Credit Life Insurance premiums, plus any applicable sales taxes, are calculated separately for each person insured under your Total Authorized Business Credit. Premium payments will be withdrawn automatically on the 15th calendar day of the month, or the next business day following the 15th, from the account indicated on the application.

To learn more about how to calculate your premiums and to see the premium rate table with examples, refer to the Business Credit Life Insurance Certificate of Insurance & Important Documents above.


The premium rate used to calculate your insurance premium is based on your:

  • age at billing date
  • smoking status
  • gender

Business Credit Living Benefit Insurance premiums are based on:

  • the insured person’s premium rate
  • the average daily business credit outstanding balance during the billing period, subject to the coverage maximum

Business Credit Living Benefit Insurance premiums, plus any applicable sales taxes, are calculated separately for each insured person under your Total Authorized Business Credit. Premium payments will be withdrawn automatically on the 15th calendar day of the month, or the next business day from the account indicated on the application.

To learn more about how to calculate your premiums and to see the premium rate table with examples, refer to the Business Credit Living Benefit Insurance 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 Monday-Friday 8:00am – 8:00pm EST.


1 As defined in the respective Certificates of Insurance. Exclusions and limitations apply.

2 The insurer will pay the amount of the outstanding credit balance to The Toronto-Dominion Bank, subject to maximum coverage limits as outlined in the Certificate of Insurance. Restrictions and limitations apply.

3 To be eligible for non-smoker rates, the Insured Person must not have smoked or used any substance or product containing tobacco, nicotine or marijuana within the 12 months of the effective date of coverage. If the Insured Person told us that he/she was a smoker and it has been 12 months or more since he/she last smoked or used any substance or product containing tobacco, nicotine or marijuana, he/she can apply for non-smoker rates by completing a Business Credit Life Insurance Notification of Change Form.

Business Credit Life Insurance provides life and accidental dismemberment coverages. Business Credit Living Benefit Insurance provides critical illness and disability coverages. Accidental dismemberment coverage is provided by TD Life Insurance Company (“TD Life”). All other coverages are provided by The Canada Life Assurance Company (“Canada Life”). TD Life is the authorized administrator for Canada Life. For more details on insurer and/or administrator, as well as all benefits and restrictions, please refer to the Certificate of Insurance.


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