Skip to main content
Ratehub logo
Ratehub logo

Get a TD Life Insurance Quote

Get a personal life insurance quote from TD and compare their rates against Canada's top providers.

TD life insurance

The Toronto-Dominion Bank, or TD Bank, is the biggest bank in Canada by assets, and one of the top ten banks in North America. TD offers life insurance under two divisions of the business, TD Insurance and TD Wealth. TD term life insurance is purchased through TD insurance, and TD permanent insurance lives under TD Wealth.

As far as life insurance goes, TD Bank is a reasonably mature provider with a solid range of life insurance products. TD life insurance products aren't as varied as the big three providers - Manulife, Sun Life, and Great West Life - but it is very competitive compared to other banks, like BMO and RBC life insurance


A few things we're proud of

  • 1,200,000

    monthly users

  • 9 years


  • Over 1M

    better choices made

  • Trusted partner

    to Canada’s top financial institutions

TD Bank history

TD Bank was formed on 1 February 1955 with the merger of The Dominion Bank and the Bank of Toronto, which were founded in 1869 and 1855, respectively. TD Bank bought several smaller banks through the 1990’s, but a proposed merger with CIBC was blocked by the Canadian government in 1998. Since 2002, TD Bank has purchased and rebranded several banks in the United States, to extend its banking network in the country. As the name implies, TD Bank has its headquarters in Toronto, Ontario.

TD life insurance products

TD Bank sells insurance across two separate divisions, TD Insurance and TD Wealth. TD Insurance offers a term life insurance, with either 10 or 20 year plans, as well as a Term-to-100 plan. The 10 and 20 years plans are automatically renewable until age 80, and are convertible to TD permanent coverage until age 69. TD Insurance also offers a guaranteed life insurance for Canadian residents between 50 and 75 years old, subject to several conditions and limitations.

TD Wealth offers basic permanent life insurance plans, including the 'Whole Life' policy, and the 'Single Premium' Life policy. Whole Life is a standard, non-participating whole life insurance policy. Single Premium Life is a policy specially designed as a tax-efficient wealth transfer to beneficiaries, targeted at high-net-worth individuals. TD does not offer a participating or universal life insurance policy of any kind.

Pros and cons of TD life insurance

TD life insurance pros

  • TD term life insurance can cover up to $10 million, which is more than most competitors
  • Some TD life insurance policies include an advance living benefit, which gives the option of taking out 50% of the death benefit if you’re diagnosed with a terminal illness, subject to several conditions
  • TD also offers home insurance and automotive insurance, and offer a 10% bundle discount. This might be cheaper than having separate providers

TD life insurance cons

  • Doesn’t offer participating whole life or universal life insurance
  • TD term life insurance has a maximum age of 80, which is less than the 85 years offered by most life insurance companies

Compare quotes today

Life insurance policies are highly personalized, so you won't know what premiums you're able to receive until you receive multiple quotes. Get a quote today with Ratehub.

compare quotes today

TD Bank credit ratings

As Canada’s largest bank by assets and one of the top ten banks in North America, TD is a very established company with excellent credit ratings:

  • Standard and Poor’s: AA- (Very strong)
  • Moody’s: AA1 (High quality)
  • DBRS: AA high (Excellent)

Questions about TD life insurance

Can TD cancel your life insurance policy?

How do I cancel my TD life insurance?

Is TD life insurance good?

Author Bio

Matt Hands, Business Director of Insurance

Matt started his professional career at CARPROOF where he honed his marketing and analytical skills for over 3 years. Matt then took his wealth of experience to’s Toronto offices, working with insurance providers, agents, and brokers to grow and expand the Insurance business unit. He is a thought leader in the community and a valuable insurance resource to respected publications like the Globe & Mail, Toronto Star, Huffington Post, Yahoo News, and 680 news radio in Toronto.

The knowledge bank

By submitting your email address, you acknowledge and agree to's terms of use and privacy policy. Contact us for more information. You can unsubscribe at any time.

About Ratehub

We help you find better financial products for your specific needs. Whether you need a mortgage, credit card, savings account, or insurance coverage, we get you the information you need to choose better.

How does make money?

Financial institutions pay us for connecting them with customers. This could be through advertisements, or when someone applies or is approved for a product. However, not all products we list are tied to compensation for us. Our industry leading education centres and calculators are available 24/7, free of charge, and with no obligation to purchase. To learn more, visit our About us page.