TD Business Credit Life Insurance

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The Ideal Coverage for Your Business Credit

If you are self-employed or have a small-sized business, you definitely want to protect your line of credit. Interestingly, TD offers an excellent choice for you in its business line of credit insurance. This plan provides the right protection and coverage you seek if you suffer accidental dismemberment or in the event of your death. The plan can pay the insured up to $1 million for each insured person. The benefit amount paid by the plan can be used to cater for interest owing, any surplus life benefit paid to his business or for his outstanding balance of the insured authorized business credit products. Furthermore, TD offers competitive rates in this coverage and also provides lower rates for non-smokers.

Features and Benefits

If you are a non-smoker you can qualify for the non-smoker rate if you have not smoked or used substances or products containing nicotine, marijuana, tobacco within 12 months of the effective date of the coverage. If you meet this requirement, you can apply for the non-smoker rate by filling up the Business Credit Life insurance notification of change form.

  • To be eligible for this plan, you are required to be a Canadian between 18 and 69 years old, a director or officer, an essential person to the business, a personal guarantor, etc.
  • The insurer can pay up to $1 million for each insured person.
  • The benefit amount paid by the plan can be used to cater for interest owing, any surplus life benefit paid to his business or for his outstanding balance of the insured authorized business credit products.
  • Competitive rates apply in this coverage and the coverage is offered at a lower rate to non-smokers.
  • If you are a non-smoker you can qualify for the non-smoker rate if you have not smoked or used substances or products containing nicotine, marijuana, tobacco within 12 months of the effective date of the coverage.
  • If you meet this requirement, you can apply for the non-smoker rate by filling up the Business Credit Life insurance notification of change form.
  • The insurance benefits will not be paid if the insured fail to give accurate information about your smoking status, or you give a false or incomplete response to any of the health questions asked.
  • If you are not satisfied with the coverage, you can cancel your business credit life coverage within 30 days of purchase and get a full refund.

 

 

Additional resources

Learn more about credit from these informative articles to help you decide in choosing the best plan for you.

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