TD Critical Illness Insurance Review (2023)
Great critical illness insurance is an incredible asset if the worst happens. Not only can a heart attack, stroke or cancer diagnosis sideline you from working, but the financial aspect can be a difficult weight to bear alone.
Have you ever thought about how you would provide for yourself and your dependents if you were to get ill? Whereas disability insurance can provide you with a monthly income when you are stopped from working, critical illness insurance can provide a large lump sum payment to defray the immediate costs of medical care and lifestyle changes.
Critical illness insurance comes in a wide range of coverage types and benefit amounts, so it is not always easy to pick the best one for you.
Are you wondering if TD’s critical illness insurance is right for you? This page explores their offer in detail. Get our TD review, a breakdown of available coverage options and much more.
Who is TD?
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 a number of 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 in the event that they are unable to work.
Below we have a look a TD’s critical illness insurance coverage.
Why sign up for TD critical illness insurance?
Critical illness insurance from TD or another provider give 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 not covered under a different policy
- Transportation to see specialists
- Chair lifts or ramps at home
- Therapy and counseling
- Retrofitting vehicles for accessibility
Beside 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.
Our review of TD:
TD is a major critical illness insurance provider in Canada, but not all clients have the same needs or situation. Here is what we like about TD’s critical illness insurance offer and some considerations to weigh as you shop for coverage options.
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
Find a critical illness insurance policy that's right for you
What critical illness insurance plans does TD offer?
TD offers critical illness coveage under the The TD Critical Illness Recovery Plan: This competively-priced plans 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.
Be aware that plans may cover fewer conditions than those listed below.
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 this below to be put in contact with an expert.
Shop critical illness policies now
How much does TD critical illness insurance cost?
Unfortunately, it is difficult to provide an accurate price range for TD critical illness Insurance. Pricing varies widely based on the following factors
- 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|
|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.
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.