Products & ServicesLife Insurance › TD Term 20

TD Term 20: 20-year term life insurance

Protect your
family’s future

Provide funds for mortgage
payments, education costs and more.

TD Term 20 life insurance coverage

TD Term 20 will pay a tax-free lump-sum amount to your designated beneficiaries should you die while the policy is in effect.

Here are the specifics:

Term period

20 years, renewable every 20 years to age 80

Coverage range $50,000 to $5 million
Premiums Fixed for 20 year intervals
Payment options Monthly or annual. Get a discount when you pay annually
Death benefit Tax-free, lump sum paid to your designated beneficiaries
Possibility to convert to TD Term to 100 Any time, until you are 69 years old, with no medical exam
Reinstatement of policy (after missed or cancelled payments) Subject to approval, can be reactivated within 2 years of policy lapsing due to non-payment of premium
Additional options (added at time of purchase for additional cost) When you purchase a TD Term 20 plan before age 59, you can add the Waiver of Premium, which ensures coverage if you become disabled before age 65
Eligibility requirements Must be 18 to 60 years of age, and a resident of Canada (except for Quebec)
Bundle Discount Save 10% on TD Term 20 insurance when you bundle with your Auto or Home policy, or with other select TD Insurance products. Call 1-877-397-4188 for details.

See a side-by-side comparison chart.

Call 1-877-397-4188 to talk to one of our advisors for:

  • Any information you need to make the right decisions about term life insurance.
  • A personalized needs assessment.
  • To take your application over the phone.

What you won’t get is pressure to buy.

Can I change my TD Term 20 policy to a permanent life insurance policy?
With TD Term 10 or TD Term 20, you can convert to TD Term to 100 (permanent insurance) at any time until you reach age 69, with no medical questions. You should note that coverage under both the TD Term 10 and the TD Term 20 terminates on your 80th birthday — another reason why you might want to convert to TD Term to 100 before you reach age 69.

Will my premiums change as I get older?
If you purchase TD Term 10 or TD Term 20 the premium you pay is guaranteed for the length of your first term 10 or 20 years depending on the plan that you choose. Your coverage is guaranteed to renew automatically until you reach age 80 but your premiums will increase at every 10 or 20-year term.

What if my health changes?
Your premiums for TD Term life insurance are fixed at the beginning of the term and will not change regardless of any negative changes to your health. If you were smoking when you purchased your policy but quit smoking later you can apply to TD Life for lower non-smoker rates.

See more questions and answers.

Why choose TD Insurance?