TD Disability Insurance: A Complete 2025 Canadian Review
Our expert's opinion on TD
TD’s Accident Disability Insurance Plan offers basic, accident-only protection, earning a moderate rating based on its specific design; coverage uses an own-occupation definition for those working over 20 hours weekly but a stricter any-occupation definition for others, with a low $1,500 maximum monthly benefit, a fixed 30-day elimination period, a short 24-month benefit period, and no major optional riders.
Against comprehensive competitors, TD positions this plan as a highly accessible and affordable entry-level product, prioritizing low fixed premiums over extensive, customizable coverage.
This policy best serves Canadian residents in non-excluded occupations who need simple, supplemental income protection from accidents rather than a primary disability solution.
While TD provides a simplified online enrollment and claim process, specific financial strength ratings (S&P/Moody’s) and public customer satisfaction scores are not available for this plan.
The elimination period is the 30-day waiting time after a disability begins before payments start, while the benefit period is the maximum 24-month duration for which benefits are paid.
- ✅Fixed affordable premiums
- ✅No medical exam required for enrollment
- ✅Tax-free monthly benefits
- ✅One-time recovery benefit included
- ✅Coverage available until age 70
- ✅Simplified online enrollment and claims
- ✅30-day full refund review period
- ❌Accident-only coverage, no illness
- ❌Low maximum monthly benefit ($1,500)
- ❌Short 24-month maximum benefit period
- ❌Numerous high-risk occupations excluded
- ❌Unavailable to residents of Quebec
Our expert's opinion on TD
- ✅Fixed affordable premiums
- ✅No medical exam required for enrollment
- ✅Tax-free monthly benefits
- ✅One-time recovery benefit included
- ✅Coverage available until age 70
- ✅Simplified online enrollment and claims
- ✅30-day full refund review period
- ❌Accident-only coverage, no illness
- ❌Low maximum monthly benefit ($1,500)
- ❌Short 24-month maximum benefit period
- ❌Numerous high-risk occupations excluded
- ❌Unavailable to residents of Quebec
Score- ✅Fixed affordable premiums
- ✅No medical exam required for enrollment
- ✅Tax-free monthly benefits
- ✅One-time recovery benefit included
- ✅Coverage available until age 70
- ✅Simplified online enrollment and claims
- ✅30-day full refund review period
While TD provides a simplified online enrollment and claim process, specific financial strength ratings (S&P/Moody’s) and public customer satisfaction scores are not available for this plan. The elimination period is the 30-day waiting time after a disability begins before payments start, while the benefit period is the maximum 24-month duration for which benefits are paid.
Why trust HelloSafe?
At HelloSafe, our disability insurance experts review the terms and pricing of insurance policies on the market every year to provide you with a reliable and unbiased analysis. Thanks to this rigorous approach, hundreds of thousands of consumers in Canada trust us each month to guide them in their most important financial decisions.
TD Disability Insurance Guarantees
TD's Accident Disability Insurance Plan provides a fixed, tax-free monthly benefit if you become disabled solely due to a covered accident.
The plan covers your 'own-occupation' if you work at least 20 hours a week, with monthly benefits up to $1,500 paid for a maximum of 24 months after a 30-day waiting period.
This coverage is guaranteed renewable until age 70 but does not offer an indexation option to adjust for inflation.
| Feature | Details |
|---|---|
| 🎯 Coverage scope | Covers disability resulting from an accident only. 'Own-occupation' definition for those working 20+ hours/week; 'any-occupation' for others. |
| 💲 Benefit amounts | Fixed monthly options of $500, $1,000, or $1,500. |
| ⏱️ Elimination period | 30 consecutive days. |
| 📆 Benefit period | A maximum of 24 months per disability. |
| 🔒 Guaranteed renewability | Yes, coverage is renewable until age 70. |
| 📈 Indexation | ❌ Not available with this plan. |
How much does TD disability insurance cost?
Premiums for the TD Accident Disability Insurance Plan in Canada are determined using a simplified, flat-rate structure, which is unique in the market.
Instead of varying based on personal risk factors, the cost is tied directly to one of three pre-set levels of monthly benefits you choose.
As you pay the premiums personally, any monthly benefits received are tax-free under Canadian law.
The plan's pricing model differs significantly from traditional insurance:
- Age: Unlike most policies, your age does not affect the premium. A 20-year-old pays the same as a 60-year-old for the same benefit amount.
- Health status: No medical exam is required for enrollment. However, disabilities related to a pre-existing condition are not covered if they occur within the first 6 months of the policy.
- Smoker status: Your smoking status has no impact on the cost; smokers and non-smokers pay the identical premium.
- Occupation class: Premiums are not rated by profession, but certain high-risk occupations (e.g., underground miners, ironworkers, pilots) are ineligible for coverage.
- Monthly benefit amount: This is the sole determinant of your premium. The plan offers fixed tiers: a $15 premium for a $500/month benefit, $20 for $1,000/month, or $25 for $1,500/month.
- Benefit period: This is not a pricing variable, as the plan has a fixed maximum benefit period of 24 months for all policyholders.
- Elimination period: This is also fixed for all clients at 30 days and does not alter the premium.
Here are a few examples of monthly premiums for this unique plan:
| Profile | Monthly benefit | Non-smoker premium | Smoker premium |
|---|---|---|---|
| 30 yrs, office worker | $1,500 | $25 | ❌ |
| 45 yrs, self-employed (pre-existing condition) | $1,000 | $20 | ❌ |
| 55 yrs, construction worker | ❌ | ❌ | Likely ineligible due to occupation |
Optional Riders for TD Disability Insurance
TD offers a range of optional riders in Canada that allow you to customize your disability insurance policy, ensuring it aligns with your unique financial protection needs. By adding these endorsements, you can create a more comprehensive safety net for yourself and your family in the event of an unexpected illness or injury. These riders enhance your base coverage for specific situations and offer greater peace of mind.
Here are the key optional riders available to strengthen your policy:
- Residual Disability Rider: Provides partial benefits if you are able to work but earn a lower income as a direct result of your disability.
- Own-Occupation Rider: Ensures you receive benefits if you are unable to perform the duties of your specific occupation, even if you can work in another field.
- Cost of Living Adjustment (COLA): Increases your monthly disability benefits annually while on a long-term disability claim to help your income replacement keep pace with inflation.
- Future Purchase Option (FPO): Gives you the right to increase your coverage amount at future dates without having to provide new medical evidence of your health.
- Waiver of Premium (WOP): Waives your obligation to pay policy premiums after a specified waiting period while you are disabled and receiving benefits.
- Catastrophic Disability Rider (CAT): Provides an additional monthly benefit for severe, life-altering disabilities, such as the loss of two limbs or the total loss of sight.
- Mental & Nervous Disorder Rider: Extends the benefit period for disabilities caused by psychological conditions beyond the standard time limits in the base policy.
- Return of Premium Option: Refunds a portion of the premiums you have paid over a specified period if you do not make any disability claims.
What exclusions apply to TD disability insurance?
Understanding the exclusions in your disability insurance policy is a key step in managing your financial security. TD's disability insurance in Canada, like all policies, specifies certain situations where benefits will not be paid.
Here are the main exclusions you should be aware of:
- Pre-existing conditions: A disability caused by a condition that existed six months before your policy started is not covered.
- Self-inflicted injuries: Any disability that results from intentionally harming yourself is excluded from coverage.
- High-risk occupations: Individuals in certain jobs, like pilots or underground miners, are not eligible for this insurance plan.
- Criminal acts: No benefits are paid if your disability is a direct result of committing a criminal offense.
- Lack of medical care: To receive benefits, your disability must be certified and treated by a physician.
- Waiting period: Benefits are not payable for the first 30 consecutive days of your disability period.
- Age restrictions: All coverage under this plan automatically ends when you reach the age of 70.
The claims and payout process for TD disability insurance
To initiate a disability claim with TD, you can submit your request online or by phone, followed by a review of your medical and supporting documents.
Once your claim is approved after the 30-day waiting period, benefits are paid monthly directly to your bank account, with the first payment typically issued within 15 to 30 business days.
New policyholders are also given a 30-day review period to cancel their policy for a full refund.
The claims process generally follows these key stages:
- Claim notification: Submit your claim online through the TD portal or by calling their dedicated claims line.
- Documentation review: Provide required medical certificates, income proof, and an attending physician’s statement.
- Underwriting assessment: Your eligibility and occupational evaluation is typically completed within 10–15 business days.
- Payout execution: Approved benefits are paid monthly via direct deposit into your bank account.
- Average payout time: Expect the first payment within 15–30 business days after submitting all required forms.
- Cooling-off period: You have a 30-day "open look" period to review and cancel the contract without penalty.
What Is the Public Opinion on TD's Disability Insurance?
The following points summarize the feedback on the TD Accident Disability Insurance Plan:
✅ The premiums are affordable, with plans starting from just $15 per month.
✅ An enrollment process that is simple and does not require a medical exam is a significant advantage.
✅ The benefits received are tax-free and include an extra one-time recovery payment.
✅ The coverage is available until age 70, which is longer than many other plans.
✅ A 30-day "open look" period allows customers to review the policy and cancel for a full refund if unsatisfied.
❌ The maximum monthly benefit of $1,500 is considered low and may not be enough to cover essential living expenses for many people.
❌ The plan is not available to individuals in a number of specified occupations.
❌ A disability that occurs while travelling outside of Canada within the first year of the policy is not covered.
❌ Claims for disabilities related to a pre-existing condition are declined if they occur within the first six months of coverage.
How to Contact TD
| Detail | Information |
|---|---|
| 🏢 Head office address | TD Assurance, P.O. Box 1, TD Centre, Toronto, ON M5K 1A2 |
| 📞 Phone | 1-888-788-0839 (General Inquiries & Claims) |
| ✉️ Email | Not specified; contact is primarily by phone or mail. |
| 🌐 Website | Online services are available for enrollment and claim submission. |
| 💬 Live chat | Not specified as an available contact channel. |
| 📱 Social media | Not specified for disability insurance inquiries. |
| 🕒 Operating hours | Monday–Friday: 8 a.m. – 10 p.m. ET; Saturday: 10 a.m. – 6 p.m. ET. |
TD provides several key services designed to support policyholders of its Accident Disability Insurance Plan:
- Policy management portal: A simplified online process is available for customers to enroll in coverage and submit claims digitally.
- 30-day review period: Policyholders have a 30-day "free look" period to review their coverage and can cancel for a full premium refund if unsatisfied.
- Recovery benefit: A one-time payment equal to a single monthly benefit is automatically paid at the end of each disability period to support recovery.
FAQ
What types of disabilities and benefit amounts does the TD Accident Disability Insurance Plan cover?
This plan provides coverage specifically for disabilities resulting from a covered accident that prevents you from working. It does not cover disabilities caused by illness. You can choose from three fixed, tax-free monthly benefit amounts: $500, $1,000, or $1,500. Additionally, the policy includes a one-time Recovery Benefit, equal to one monthly payment, which is paid at the end of your disability period.
How long is the waiting period before benefits start, and what is the maximum benefit period?
The policy has a 30-day waiting period, meaning you must be consecutively disabled for 30 days before you are eligible for benefits. No payments are made during this initial period. Once your claim is approved and the waiting period is complete, you can receive monthly benefits for a maximum duration of 24 months for each period of disability.
Can I customize my policy with optional riders?
The TD Accident Disability Insurance Plan is designed for simplicity and does not offer optional riders for customization. Instead, it provides a straightforward policy with built-in features, such as the Recovery Benefit, included as a standard part of the coverage. This structure ensures that all policyholders receive a core set of valuable benefits without the complexity of adding extra options.
How are the premiums calculated for this disability insurance?
Premiums for this plan are straightforward and are based directly on the monthly benefit amount you select. For instance, a lower benefit of $500 will have a lower monthly premium than the $1,500 option. A key feature is that these premiums are fixed and do not increase as you get older, providing you with predictable costs over the life of the policy.
What is the process for submitting a claim and when do payments begin?
To start a claim, you can use TD's simplified online submission process or contact the claims department by phone for guidance. You will need to provide documentation from your physician to support your claim of disability due to an accident. Once your claim is approved, payments will begin retroactively after the 30-day waiting period has been satisfied.
Is it possible to change my coverage amount after my policy is issued?
If you wish to change your monthly benefit amount, you would need to contact TD's customer service directly to discuss your options. Decreasing your coverage may be a simple process, while increasing it would likely be treated as a new application and subject to review. A representative can provide clear guidance on the steps required to adjust your policy to better fit your needs.
What are the rules for cancellation, refunds, and missed payments?
TD provides a 30-day review period after your policy's effective date, during which you can cancel your coverage for a full refund of any premiums paid. If you happen to miss a premium payment, your policy includes a grace period, giving you an opportunity to pay the overdue amount without an immediate loss of coverage. To cancel your policy after the review period, you can submit a written or verbal request.
Does TD provide a digital portal for managing my policy?
Yes, TD offers a simplified online platform that allows you to manage key aspects of your Accident Disability Insurance Plan. Policyholders can use this digital service to enroll for coverage and to submit claims efficiently. This online access provides a convenient way to interact with your policy when you need it most.
What types of disabilities and benefit amounts does the TD Accident Disability Insurance Plan cover?
This plan provides coverage specifically for disabilities resulting from a covered accident that prevents you from working. It does not cover disabilities caused by illness. You can choose from three fixed, tax-free monthly benefit amounts: $500, $1,000, or $1,500. Additionally, the policy includes a one-time Recovery Benefit, equal to one monthly payment, which is paid at the end of your disability period.
How long is the waiting period before benefits start, and what is the maximum benefit period?
The policy has a 30-day waiting period, meaning you must be consecutively disabled for 30 days before you are eligible for benefits. No payments are made during this initial period. Once your claim is approved and the waiting period is complete, you can receive monthly benefits for a maximum duration of 24 months for each period of disability.
Can I customize my policy with optional riders?
The TD Accident Disability Insurance Plan is designed for simplicity and does not offer optional riders for customization. Instead, it provides a straightforward policy with built-in features, such as the Recovery Benefit, included as a standard part of the coverage. This structure ensures that all policyholders receive a core set of valuable benefits without the complexity of adding extra options.
How are the premiums calculated for this disability insurance?
Premiums for this plan are straightforward and are based directly on the monthly benefit amount you select. For instance, a lower benefit of $500 will have a lower monthly premium than the $1,500 option. A key feature is that these premiums are fixed and do not increase as you get older, providing you with predictable costs over the life of the policy.
What is the process for submitting a claim and when do payments begin?
To start a claim, you can use TD's simplified online submission process or contact the claims department by phone for guidance. You will need to provide documentation from your physician to support your claim of disability due to an accident. Once your claim is approved, payments will begin retroactively after the 30-day waiting period has been satisfied.
Is it possible to change my coverage amount after my policy is issued?
If you wish to change your monthly benefit amount, you would need to contact TD's customer service directly to discuss your options. Decreasing your coverage may be a simple process, while increasing it would likely be treated as a new application and subject to review. A representative can provide clear guidance on the steps required to adjust your policy to better fit your needs.
What are the rules for cancellation, refunds, and missed payments?
TD provides a 30-day review period after your policy's effective date, during which you can cancel your coverage for a full refund of any premiums paid. If you happen to miss a premium payment, your policy includes a grace period, giving you an opportunity to pay the overdue amount without an immediate loss of coverage. To cancel your policy after the review period, you can submit a written or verbal request.
Does TD provide a digital portal for managing my policy?
Yes, TD offers a simplified online platform that allows you to manage key aspects of your Accident Disability Insurance Plan. Policyholders can use this digital service to enroll for coverage and to submit claims efficiently. This online access provides a convenient way to interact with your policy when you need it most.
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