TD Life Insurance
is a section of TD Canada Trust, one of the leading financial companies in Canada. TD Canada trust provides over 10 million products to Canadians in both the area of insurance and banking. TD life Insurance Canada has won Synovate and JD Power customer satisfaction studies awards for outstanding customer supports and services. It has a highly integrated and value providing online platform for its policyholder that enables them manage their investments, policies and customer queries. TD Insurance Toronto offices are the company headquarters.
TD Life insurance provides only term life insurance and does not have the whole life and universal life insurance policies. TD life Insurance Canada have been providing term life insurance since 2000 and they provide the insurance policy in terms of 10 years and 20 years with an option to convert to a Term 100 plan. However, TD life insurance do not sell the 10-Year Term Life is not available in Quebec and New Brunswick. TD life insurance is currently on a challenge to keep its premiums at a competitive rate owing to the increasing competition in the insurance industry. For example, its 2010 premium rates for a 40 year old non smoker for a 10 year term was placed at about $42.01/month. The average from the industry for the same policyholder was priced at about $37 with companies like RBC Insurance charging a rate of $34.77 per month and Equitable Life rates being $35.55 monthly. The same policy converted to a Term 100 plan with premiums rising to $452.38 a month for TD Life. However, the rate for a similar conversion by other companies was much lower at about $250 to $300. However, insurance rates keep fluctuating and the company may reduce the rates in the future.
Besides term life insurance, TD life insurance also provides other insurance policies including critical life insurance, critical illness insurance, accident related insurance policies, health and travel medical insurance policies. TD life Insurance Canada policies are both for individuals and for group covers.
