What Does TD Life Insurance Cover? A Clear Guide

What TD Life Insurance Covers

TD Life Insurance offers a basic term policy that provides a death benefit to beneficiaries when the insured dies. The policy also allows optional riders that add coverage for critical illness, accidental death, and long‑term care. These riders can be selected to tailor the policy to specific needs.

Core Coverage: Death Benefit

The core benefit is a lump‑sum payment to named beneficiaries. The amount depends on the face value chosen at purchase, ranging from $50,000 to $5,000,000. The death benefit is paid tax‑free and can be used for any purpose, such as paying debts, covering living expenses, or funding education.

Optional Riders and Add‑Ons

• Accidental Death and Dismemberment (AD&D) – Pays an additional benefit if death or serious injury is caused by an accident.
• Critical Illness – Provides a lump sum if diagnosed with a covered condition (e.g., heart attack, stroke, cancer).
• Long‑Term Care – Covers costs of in‑home or facility care when the insured can no longer perform daily activities.

What Is Not Covered

TD Life does not pay benefits for:

• Suicide within the first two years of the policy (suicide clause).
• Death by war or terrorist acts unless a separate rider is purchased.
• Pre‑existing medical conditions that are not disclosed at underwriting.

Policy Term and Premiums

Term lengths vary from 10 to 30 years. Premiums are level for the chosen term, meaning they stay the same throughout the policy's life. After the term ends, the policy either lapses or can be converted to a permanent policy at a higher rate.

How to Get Started

Apply online or through a TD Financial Advisor. The application includes a medical questionnaire; a simplified medical exam may be required for higher coverage amounts. Once approved, the policy is effective immediately, and the death benefit is paid upon death of the insured.

Summary Table