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What is Term Life Insurance?
Term life insurance can be an affordable way to help secure the financial future of your loved ones. If you pass away within the duration of the policy, your loved ones receive a tax-free, lump sum payment to use however they choose.
How You Can Benefit from TD Term Life Insurance
Compare your Term Life Options
You're eligible to apply for the TD Term Life Insurance if you’re a Canadian citizen or resident7 and fall within the age requirements for the plan you choose.
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10-Year Term Life |
20-Year Term Life |
30-Year Term Life |
Term 100 Lifetime Coverage |
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Could be suitable for |
Shorter term financial responsibilities such as a student or car loan, short-term mortgage. |
Long-term financial responsibilities: if you're newly married, have young children, or have purchased a home. |
Longer-term financial responsibilities, such as a 30-year mortgage, if you're newly married, or starting a family. |
Covering end of life expenses or leaving a legacy. A coverage that doesn’t expire at a cost guaranteed not to increase. |
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Age eligibility |
18 years old to 6 months after your 70th birthday |
18 years old to 6 months after your 60th birthday |
18 years old to 6 months after your 50th birthday |
18 years old to 6 months after your 70th birthday |
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Coverage up to $10,000,000 |
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Age when coverage ends |
80 |
80 |
80 |
Lifetime coverage |
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Convertible to Term 100 up to 6 months after age 696 |
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N/A |
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Automatic renewal at the end of each term |
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N/A |
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Tax-free benefit |
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Instant approval available5 |
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Sample policy |
What's Not Covered
Scenarios when an insurance benefit will not be paid:
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Death due to suicide within 2 years of the effective date of coverage. Any premiums paid will be returned.
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If you have concealed or misrepresented any information during the application process.
The above information is intended as a summary only. For complete terms and conditions, please review the sample policy above.
Discount for New 10-, 20-, or 30-Year Term Life Plans8
Save 10%:
- If you are a TD customer (including TD Auto Finance, TD Insurance Home and/or auto, and TD Wealth); or
- If you apply online1
Or save 5%:
- If you or your spouse are graduates of an eligible Canadian post-secondary institution or a member of an eligible professional association
Note: The above discounts cannot be combined, the maximum discount available is 10%.
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1
Check your price online or call a licensed TD Life Insurance Advisor to get a quote that is applicable to you. Be sure to indicate whether you are a TD customer (specify which type) or a graduate/professional that will make you eligible for the discount.
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2
You can then apply for the coverage plan of your choice. If your application is approved, you will get the eligible discount.
Want to Learn More About Life Insurance?
Watch this 90 second video to see how term life insurance could help you meet your financial needs.
Your life insurance needs can change throughout your life. Get helpful information from our Advice Centre.
Learn the fundamentals of life insurance without any confusing and technical language.
Understanding how life insurance needs can change at different life stages is important. Learn more.
It may not be too early to start thinking about life insurance. Here are a few reasons to consider term life insurance at a young age.
Got Questions? Find Answers Here!
Find answers to some frequently asked questions about life or term life insurance.
How Do I Get TD Term Life Insurance?
TD Term Life Insurance is an individual life insurance plan underwritten by TD Life Insurance Company.
† The price will be an estimated quote based on the information you provide. Your actual premium may change when we assess your individual circumstances based on the information collected during the application process.
1The discount is only available to eligible applicants who apply for a new TD 10-Year, 20-Year or 30-Year Term Life Insurance policy using the online application. Offers cannot be combined with any other offer and is subject to change or may be withdrawn at any time.
2 TD 10- or 20-Year Term Life Insurance plans automatically renew at the end of each of 10- or 20-year term until the age of 80. TD 30-Year Term Life Insurance plan automatically renews at the end of the initial 30-year term on a yearly basis until the age of 80. Premiums do not increase for the duration of the policy's term. The premium will increase when your term renews.
3 Individual circumstances may vary. If you need advice about your needs, call 1-888-788-0839 and speak to one of our TD Life Insurance licensed advisors.
4 Based on user ratings on Google, as of September 18, 2025.
5 Instant approval is subject to the responses you provide to certain health and lifestyle questions in your application and is available for coverage up to $1,000,000 if you are 50 and 182 days old or younger, up to $500,000 if you are 60 and 182 days old or younger, or up to $249,999 if you are 70 and 182 days old or younger.
6 This option is available up to the policy anniversary nearest the Insured’s 69th birthday, and premiums will be based on the Insured person’s attained age at the conversion date.
7 A Canadian resident is any person who:
• is legally entitled to reside in Canada for at least the next year, and
• has been a resident in Canada for 183 of the past 365 days. Days do not need to be consecutive.
8 Discounts are available to eligible applicants who apply for a new TD 10-Year, 20-Year, or 30-YearTerm Life Insurance policy. Offers cannot be combined with any other offer and are subject to change or may be withdrawn at any time.