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.
What TD Business Credit Life Insurance Offers
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.