TD Loan Insurance
Protect Your Loans with TD Canada Loan Insurance
Your credit record could be greatly affected if anything happens to your loan, of course, you want to protect your loan as well as the interest owed.
TD loan insurance is the right coverage you need to protect your loan.
The plan can pay you or your beneficiaries up to $250,000 in the event of your death or if you suffer a covered accidental dismemberment as specified in the Certificate of Insurance.
The life insurance lump sum is paid to the insured towards interest owing, and to help him settle his outstanding TD personal loans. Furthermore, the insured can also enhance his TD loan insurance by adding optional TD loan disability insurance to the plan. If the insured becomes totally disabled, this addendum can pay the insured up to $2,000 of his monthly loan payments for a maximum of 60 months.
Why TD Loan Insurance Is the Best Option
If you are not satisfied with the TD Loan Insurance product, you can cancel your coverage and get a full refund within 30 days of purchasing the plan. This loan insurance premium is calculated based on your age, the amortization period of the loan, and the amount of your loan at the time of application, with the applicable discounts excluded.
- The coverage will pay the insured or his beneficiaries a lump sum of $250,000 in the event of his death or if he suffers an accidental dismemberment as defined in the Certificate of Insurance.
- The insurance benefit is paid on the insured’s interest owing and to cover for his outstanding TD personal loans.
- If you become totally disabled, you can get paid up to $2,000 of your monthly loan payments for 60 days maximum provided you add TD loan disability insurance as an enhancement to the plan.
- The plan offers discounts as well as competitive rates.
- Your loan insurance premium is calculated based on your age, the amortization period of the loan, and the amount of your loan at the time of application, with the applicable discounts excluded.
- If more than one person becomes insured for disability and life insurance on the same loan, a 15% discount will be applied to each of the individual premiums.
- You can get a full refund if you are not satisfied with the TD loan insurance product provided you cancel the coverage within 30 days of purchase.