TD Critical Illness Insurance Review 2024
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Discover the methodologyDealing with a critical illness is a challenge, bringing not only physical strain but also financial stress. That's why critical illness insurance is a vital solution, offering a lump sum upon diagnosis of life-threatening conditions.
This policy aids you, your spouses, children, and parents, in managing the recovery journey, empowering families to navigate medical and financial challenges. Among the many providers offering this product, the reputed TD Critical Illness Insurance is one to consider.
In this review, we take you through TD critical illness insurance coverage, pros, cons, and more. Then use our free comparator to see how TD fares against other critical illness insurance plans, and get free personalized quotes to decide if TD is right for you or if there's another plan that suits you better.
TD Critical Illness Insurance: Key takeaways
- TD Insurance is a top Canadian financial services company.
- TD offers easy-to-understand critical illness insurance plans.
- Exclusive plans designed for existing TD customers.
- Provides a range of coverage including Critical Accident coverage.
- Coverage limit of $50,000
Our 2024 review of TD critical illness insurance
TD Critical Illness Insurance stands out as a reliable choice for existing TD customers seeking straightforward coverage. The plans, including Critical Accident and Critical Illness Recovery, offer a financial safety net for medical expenses and lifestyle adjustments in the event of serious illnesses or accidents.
While the simplicity of the plans and the backing of a trusted financial institution are notable strengths, the $50,000 coverage limit and the exclusivity for TD customers might limit its appeal for those seeking higher coverage or who are not TD clients. Overall, TD's critical illness insurance is best suited for existing TD customers looking for uncomplicated coverage from a reputable provider.
If you're an existing TD customer or a prospective one, you can check how TD compares with other critical illness insurance plans in Canada. Use our free comparator below to compare plans and get personalized quotes in no time right here.
Find a critical illness insurance policy that's right for you
Pros of TD critical illness insurance
- Reputation - insurance from one of Canada's top financial services companies
- Offer is simple and easy-to-understand
- Plans designed for TD customers.
- Variety of insurance products including Critical Accident, Accident Disability, and Accidental Death Insurance
Cons of TD critical illness insurance
- No online application
- $50,000 coverage limit
- Plans may not be available for Quebec residents
- Plans exclusive for existing TD customers
Who offers TD critical illness insurance?
TD Canada Trust Insurance is a part of the TD Bank Group, which is one of North America’s largest banks. It was created in 1955 with the merger of the Dominion Bank and the Toronto Bank.
TD offers several insurance products and is a trusted name for insurance in Canada. TD Critical Illness, Critical Accident, Accident Disability, and Accidental Death Insurance plans give families many tools for financially protecting themselves and their families if they are unable to work.
Why should you get TD critical illness insurance?
If you're wondering if critical illness insurance is worth it, then read on. Critical illness insurance from TD or another provider gives you a powerful financial safety net should you contract a critical illness or condition. A serious diagnosis is likely to affect your ability to work while engendering serious expenses. These include:
- Medical costs and specialists that are not covered under a different policy
- Transportation to see specialists
- Chair lifts or ramps at home
- Therapy and counseling
- Retrofitting vehicles for accessibility
Besides these additional costs, you still need a plan for continuing to pay your rent or mortgage, child care, groceries, and other day-to-day living expenses. The flexibility of the large lump-sum benefit from critical illness insurance means that you'll have the ability to cover these bills as you see fit. You can take care of yourself and your family while focusing on recovery.
How much does TD critical illness insurance cost?
Unfortunately, it is difficult to provide an accurate price range for TD critical illness Insurance as it is significantly based on individual situations. Pricing varies widely based on the following factors:
- Age
- Pre-existing conditions
- General Health
- Smoking status
- The amount of coverage desired
For general information, the table below summarizes the average price of critical illness insurance for various ages with a $25,000 benefit for the average provider. This is meant solely to provide a rough indication. Speak with an advisor for an exact TD critical illness insurance quote.
| Age | Price per month |
|---|---|
| Under 25 | $7 |
| 51 to 55 | $27 |
| 56 to 60 | $44 |
| 61 to 65 | $56 |
Good to know
Need help deciding how much coverage to buy from TD? Our critical illness insurance calculator can help you make an informed decision.
You must get personalized quotes for critical illness insurance from multiple providers to weigh your best options. You can do it right here using our free comparator below. Compare multiple plans and get free quotes based on your unique needs simply by pressing the button below.
Find a critical illness insurance policy that's right for you
What critical illness insurance plans does TD offer?
TD offers critical illness coverage under the TD Critical Illness Recovery Plan: This competitively-priced plan provides a benefit of up to $50,000 for strokes, heart attacks, and life-threatening cancers. Applicants must be under 54 years old.
Also of note here is TD's Critical Accident Recovery Insurance which offers a benefit worth up to $150,000 if you suffer a covered critical accident. No medical exam or medical questionnaire is required.
For more on TD's critical illness insurance offer see the pdf below.
What illnesses and conditions qualify for TD critical illness insurance?
The following illnesses and conditions may qualify a TD policyholder for critical illness benefits.
- Heart attacks
- Life-threatening cancers
- Strokes
Be aware that plans may cover fewer conditions than those listed. If you want to go for a plan that covers more conditions, you can look at BMO critical illness insurance or other providers using our free comparator.
Good to know
Different insurers have different criteria for determining the severity of an illness or condition and whether it qualifies. If you have questions, it's best to refer to the policy documents and speak with your insurance broker or TD advisor.
How do I apply for TD insurance?
It is easy to apply for TD's critical illness insurance by calling 1-888-788-0839. Representatives are available from 8:00 am to 10:00 pm ET Mondays through Fridays and Saturdays from 10:00 am to 6:00 pm ET.
Before settling on an offer with TD it's smart to compare critical illness insurance quotes from other providers. You can do it right here. Use our free comparator below to compare the best critical illness insurance plans in Canada and get free personalized quotes in no time.
Shop critical illness policies now
Good to know
If you're a medical professional in Ontario, you can also look at OMA critical illness insurance. OMA insurance is exclusively available to active members of OMA or the Atlantic Medical Association. Tailored to meet the specific requirements of Ontario medical professionals, the insurance solutions, including OMA critical illness insurance, are carefully curated for their distinct needs.
How do I contact TD?
Contact TD Canada Trust about its Critical Accident, Critical Illness, Accidental Death, and Accident Disability insurance by calling 1-888-788-0839. You can use this number to clarify information on existing policies, purchase new policies, and get personalized quotes.
