What is Term to 100 Life Insurance?

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. 

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. 

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.

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.

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.