What is Term to 100 Life Insurance?

Term to 100 life insurance, also known as T100 or Term 100, is a type of permanent life insurance that lasts for the insured person's lifetime. Unlike other term life insurance products, such as the 10-year or 20-year term, term to 100 life insurance doesn't need to be renewed at the end of the term, and it also doesn't expire. 

How does Term to 100 Life insurance work?

Once you've been approved for this plan, the premiums you pay remain the same throughout the policy term. When the life insured person reaches the age of 100, the premiums stop but the coverage continues. The policy pays a tax-free lump sum payout (only applicable for successful claims) for your named beneficiary upon your death. 

Why consider a Term to 100 Life insurance plan?

Once you have identified the need for life insurance, what makes a term 100 plan a good option is the fact that, although the premiums stop at the age of 100, it covers the insured person for their lifetime. This could give the insured person permanent life coverage at a lower cost compared to some of the other permanent life insurance options.

If you're looking for a lifetime plan with permanent coverage where premiums are guaranteed not to increase and term renewals are not necessary, this could be a good choice. This could be ideal if you have lifelong dependents and wish to leave behind a legacy for your loved ones.

The Term 100 plan can be purchased right from the time you turn 18 (the younger you are, the lower the cost could be) up until the maximum age available for the plan. You will also need to be a Canadian resident to be eligible to apply for coverage with TD Insurance. With this plan, like all life insurance plans, your named beneficiary can receive a tax-free lump sum payment to use however they choose should you pass away. 

Does TD Insurance offer Term to 100 Life insurance policy?

Yes, TD Insurance offers Term to 100 life insurance policy. You are eligible to apply if you are 18 years old, up to a maximum of 6 months after your 70th birthday.

You have the option to apply for up to $10,000,000 in coverage. The insured person can even claim a living benefit (of up to 50% of the death benefit) in the case of life-threatening medical conditions, provided the conditions align with the definitions in the policy.

Your named beneficiary could receive a lump sum tax-free payout to use however they choose: to help with a mortgage, replace lost income, cover the cost of education, or make a donation to a charity.

It's good to keep in mind that you'll have a 30-day review period from the effective date for this policy; if you choose to cancel your policy, any premiums paid will be refunded.

How much does the TD Term to 100 Life insurance plan cost?

The premiums for any term life insurance policy depend on several factors, including age, sex, coverage amount, and type of coverage. Get a personalized estimate of your price using our TD Term Life Insurance Quote tool. You can also use our TD Life Insurance Calculator to determine how much coverage you may need.

What is excluded from the TD Term to 100 life insurance plan?

There are instances where a death benefit may not be paid out, which include the following:

  • Passing away due to suicide within 2 years of the effective date of coverage (premiums will be returned in this case)
  • Concealing or misrepresenting required information during the application process

You may find the complete list of exclusions in our TD Term to 100 life insurance sample policy.

How can I apply for a TD Term to 100 Life insurance plan?

Ready to get started with a personalized Term to 100 quote? Visit our TD Term Life Insurance website to get a quote, and then you may apply online.

Not sure how much coverage you need? Use the TD Life Insurance Calculator to help you.

It can be tough to choose the right kind of term life insurance policy for you or your family. Use our online resources to help you take the first step towards making an informed decision.

TD Term to 100 Life Insurance 

TD Insurance also offers Guaranteed Acceptance Life insurance 

A useful tip for Canadian residents age 50 to 75 who are looking for immediate coverage, but don't want to go through health questions or a medical, and may not be eligible for other types of plans can consider the TD Insurance Guaranteed Acceptance Life Insurance (GALI). This life insurance plan lasts as long as you live, and unlike other life insurance plans, it doesn't require a health questionnaire. Coverage is up to $25,000 and begins upon submission of your application. Additionally, the premiums do not change, and the premiums stop when you turn 100 but the coverage continues.

Learn more about the features and benefits of the TD Guaranteed Acceptance Life Insurance plan in our next article about No medical life insurance.

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TD Term Life Insurance and TD Guaranteed Acceptance Life Insurance are individual life insurance plans underwritten by TD Life Insurance Company. See Insurance Policy for coverage details, including limitations and exclusions.

The content on this page is for general information purposes only and does not constitute legal, financial or insurance advice. Speak to a life licensed professional advisor regarding your specific situation. The information contained herein is subject to change without notice.