- I already have life insurance. Do I really need more insurance?
While life insurance is an important part of your overall financial plan, it does not provide hospitalization coverage. The TD Life Coverage for Accident and Sickness Hospitalization (TD CASH) Plan provides a “living benefit” of up to $73,000 to help protect you and your family against the additional financial burden of a hospital stay.
- I have disability insurance as well. Does that cover me?
Disability insurance is also important coverage to have, but it provides partial income replacement (usually not more than 70% of your income before the disability) not hospitalization benefits. TD CASH plan can provide tax-free benefits, in addition to any disability coverage you have, to help cover the additional expenses associated with hospitalization such as:
- Semi-private or private hospital expenses
- Additional childcare costs
- Expenses incurred by your family and other visitors (parking, babysitting, etc.)
- Household bills
- Any shortfall in income because you are unable to work
- I also have accident insurance. Isn’t that enough?
Accident insurance coverage is restricted to accidents. The TD CASH Plan provides benefits in the event of the hospitalization due to accidents or illness because you never know when or why you might end up in hospital.
- The premiums are low now, but will they increase in the future?
Your premium will not increase because of changes in your age or health so you will never be singled out for a rate increase. Premiums can only be changed if they are changed for everyone insured under the Group Policy with the same coverage amount, and if you are given 30 days written notice.
- Who receives the benefit?
The benefit is paid directly to you to use as you wish, or to your Estate if you die before payment of benefits.
- Will I have to pay taxes on any benefits I receive under the Plan?
No. Under current Canadian income tax laws, your benefits are paid tax-free.
- Who can I call if I have more insurance questions?
Call 1-888-788-0839 and one of our helpful, friendly agents will be happy to answer any questions you may have.
A no-risk way to get the accident and illness coverage you need