Line Of Credit Product Guide And Certificate Insurance(592260 0415)

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Protect
What’s
Important
Product Guide and
Certificate of Insurance
Protection
For Your
Line of Credit
592260(1016)
PROTECTION FOR YOUR LINE OF CREDIT LINE OF CREDIT CRITICAL ILLNESS AND LIFE INSURANCE GUIDE AND CERTIFICATE 1
Protection For Your Line Of Credit
Protect What’s Important
Product Guide and Certificate of Insurance
Accidental dismemberment coverage provided
by:
TD Life Insurance Company (“TD Life”)
P.O. Box 1
TD Centre
Toronto, Ontario M5K 1A2
All other coverages provided by:
The Canada Life Assurance Company
(“Canada Life”)
Creditor Insurance Department
330 University Avenue
Toronto, Ontario M5G 1R8
Administered by:
TD Life
Flexibility is the biggest advantage with
your TD Canada Trust personal Line of
Credit. You have 24-hour access to draw
what you need and you pay interest only
on the amount you use. Managing your
Line of Credit responsibly can help you
successfully meet your cash flow needs.
But what if your Line of Credit was
fully extended and you were to become
critically ill, suffer an accident or die?
Would your family be able to manage the
outstanding balance?
This booklet describes the insurance provided to
TD Canada Trust Line of Credit customers who are
covered by Line of Credit Critical Illness and Life
Insurance. It contains important information about
life, accidental dismemberment, and critical illness
coverages.
If you don’t safeguard the lifestyle you’ve earned with
the security your family deserves, you could be exposing
them to unexpected financial hardship. Line of Credit
Critical Illness and Life Insurance is protection for your
Line of Credit, which can help protect your family from
the unexpected.
Once you’re covered, the insurance benefit can pay
down or eliminate the principal balance of your insured
TD Canada Trust Line of Credit.
Line of Credit Critical Illness and Life Insurance offers
competitive group premium rates. Your cost of
insurance is based on your age, your average balance
and the number of days in the billing period. If you
don’t carry a balance during the month, there are no
premiums to pay. Rate discounts are available if you
insure an additional borrower.
Protecting Your Most Important Assets
CREDIT PROTECTION - WHAT YOU NEED TO KNOW - DISCLOSURE STATEMENT 2
Why Line of Credit Critical Illness and Life Insurance?
Help protect your family financially
Pay for coverage based on how you use your line of credit
15% off premiums when multiple borrowers are insured on the same line of credit
A living benefit is provided with Critical Illness Insurance
The following Credit Protection - What You Need to Know information sheet summarizes the insurance
benefits. For complete details of coverage, please refer to the Certificate of Insurance in this booklet.
Credit Protection - What You Need to Know
Who Is Eligible For Insurance
Line of Credit Critical Illness and Life Insurance are optional creditor’s group insurance coverages for TD Canada Trust Line of
Credit borrowers.
You can apply for this insurance if you are:
• A Canadian resident; and either
•18-69 years old for Life Insurance; or
•18-55 years old for Critical Illness Insurance
You may be eligible for coverage under the Creditor Defined Plan (insurance coverage for a period of five years) if you do not
meet our standard approval critieria for the full term of your line of credit or we are unable to reach you to complete the Heath
Questionnaire and complete our underwriting process. We will notify you in writing if this is the case.
If the total of all your TD Line(s) of Credit exceeds $300,000, we may offer you partial coverage. In this instance, you will be notified
in writing of our decision.
Note: Critical Illness Insurance is only available if you have line of credit Life Insurance.
What Are The Benefits
The insurer (‘We’ meaning TD Life or Canada Life) can pay TD Canada Trust up to $300,000 for Life or Critical Illness Insurance, to
be applied towards your line of credit.
This includes payments associated with this line of credit towards:
üyour unpaid line of credit balance less any arrears
üany interest owing
üany discharge or penalty fees
Note: TD Life provides accidental dismemberment coverage and Canada Life is the provider for all other coverages.
&See pages 8-9 and 11-12 of the Certificate of Insurance for details.
CREDIT PROTECTION - WHAT YOU NEED TO KNOW - DISCLOSURE STATEMENT 3
How Does The Coverage Work
Life Insurance covers you for the following covered events: death and accidental dismemberment.
Critical Illness Insurance covers you for the following covered events: Cancer (life threatening),
Acute Heart Attack,
and Stroke.
& See pages 8-14 of the Certificate of Insurance for definition of covered events and for coverage details.
When The Insurance Coverage Starts
•If you apply for Life Insurance and your line of credit is $50,000 or less, Life coverage starts
on the date you applied for coverage.
•If you answered “NO” to health questions 1 to 3, Life coverage starts on the date you applied for coverage.
•If you answered “YES” to any of the health questions you will need to complete a separate Health Questionnaire or give
consent to be considered for the Creditor Defined Plan. In these instances, your coverage starts only when you are notified in
writing that you are approved.
When The Insurance Coverage Ends
Line of credit Critical Illness and Life Insurance may end before your line of credit is fully paid.
For example, it will end when:
•your line of credit is transferred to a different lender;
•your insurance premium is in arrears 3 consecutive months; or
•your 5-year period of coverage has come to an end, or you turn 70 while enrolled in the Creditor Defined Plan; and
•an insurance benefit is paid on your Line of Credit.
& See page 10 and 12 of the Certificate of Insurance for details of when coverage ends.
How To Submit A Claim
For information on submitting a claim, call TD Life at 1-888-983-7070 or see page 7 of the Certificate of Insurance for details.
How To Cancel Coverage
You can cancel your coverage at any time. If you cancel your coverage within the first 30 days, your premiums will be refunded
and coverage will be considered to never have been in force. If a claim is made within the first 30 days, a refund is not provided.
To cancel, contact us at 1-888-983-7070 or alternatively contact your TD Canada Trust branch.
When An Insurance Benefit Will Not Be Paid
The coverages have certain limitations and exclusions. Here are some examples of when an insurance benefit will not be paid:
•if you give any false or incomplete responses to any of the health questions;
•if you are diagnosed with cancer (life threatening) in the first 90 days after coverage starts. Should this happen, Critical Illness
Insurance will terminate and premiums paid will be refunded;
•various exclusions may apply in the first 12 months after coverage starts. See pages 9 and 12 of the Certificate of Insurance
for details.
& See pages 8-10 and 11-12 of the Certificate of Insurance for details of coverage limitations and exclusions.
CREDIT PROTECTION - WHAT YOU NEED TO KNOW - DISCLOSURE STATEMENT 4
How To Calculate The Monthly Premium
Your premium, which is due on a monthly basis, is calculated based on your age at the time of billing, the average balance and
the number of days in the billing period.
Follow the steps below and use the spaces to help calculate your premium:
Sample calculation†
Step 1: ______(A) Premium Rate $0.22
Step 2: ______(B) Average balance $20,000
Step 3: ______(C) A×B÷1000 = C $0.22 x $20,000 ÷ 1000 = $4.40
Step 4: ______(D) C x 12 ÷ 365 = D, D is the daily premium $4.40 x 12 ÷ 365 = 0.1447
Step 5: ______(E) D x number of days in the billing period = E, E is the monthly premium 0.1447 x 31 = $4.48
Step 6*:______(F) E + (E x your provincial tax rate) = F, F is the monthly premium after tax $4.48 + ($4.48 x 8%) = $4.84
†Sample calculation for a 34 year old Life insured with 31 days in billing period, living in Ontario . *Follow step 6 only if provincial sales tax applies
If more than one person becomes insured for Critical Illness and Life Insurance on the same line of credit, a 15% discount will be
applied to each of your individual premiums. In addition, a 20% discount will apply to the premium for the average balance portion
that exceeds $75,000. We call this a tier discount.
& See page 15 of the Certificate of Insurance for details on discount calculations.
Premium Rates
Monthly premium rates per $1,000 of single coverage:
Age Life Insurance Critical
Illness Insurance Age Life Insurance Critical
Illness Insurance
18-29 $0.16 $0.16 50 $0.63 $0.81
30 $0.17 $0.17 51 $0.65 $0.86
31 $0.19 $0.19 52 $0.69 $0.94
32 $0.20 $0.20 53 $0.74 $1.02
33 $0.21 $0.21 54 $0.78 $1.11
34 $0.22 $0.22 55 $0.83 $1.22
35 $0.23 $0.23 56 $0.88 $1.34*
36 $0.24 $0.24 57 $0.93 $1.51*
37 $0.25 $0.25 58 $1.00 $1.70*
38 $0.28 $0.29 59 $1.08 $1.80*
39 $0.30 $0.32 60 $1.16 $1.89*
40 $0.31 $0.35 61 $1.25 $1.99*
41 $0.34 $0.38 62 $1.35 $2.09*
42 $0.36 $0.43 63 $1.47 $2.18*
43 $0.38 $0.48 64 $1.61 $2.28*
44 $0.41 $0.52 65 $1.75 $2.37*
45 $0.44 $0.56 66 $1.92 $2.46*
46 $0.47 $0.61 67 $2.11 $2.57*
47 $0.50 $0.66 68 $2.32 $2.66*
48 $0.55 $0.72 69 $2.60 $2.75*
49 $0.60 $0.77
*Available only under Recognition of Prior Coverage
PROTECTION FOR YOUR LINE OF CREDIT LINE OF CREDIT CRITICAL ILLNESS AND LIFE INSURANCE GUIDE AND CERTIFICATE 5
Contents
Certificate Of Insurance
Introduction to Your Insurance Coverages .............................................................................................................................. 6
Beneficiary Information ......................................................................................................................................................................... 6
Who Is Eligible for Insurance ................................................................................................................................................................. 6
How To Apply ....................................................................................................................................................................................... 7
How To Submit A Claim ........................................................................................................................................................................ 7
We Must Receive A Claim Within A Specific Time ............................................................................................................................ 7
Additional Claim Information ................................................................................................................................................................ 7
Definitions Applicable to Line of Credit Critical Illness and Life Insurance .................................................................................................... 7
Coverages
Life Insurance ........................................................................................................................................................................................... 8
When Your Life Insurance Starts....................................................................................................................................................... 8
When You Must Complete a Health Questionnaire .......................................................................................................................... 8
Maximum Life Insurance Amounts You Can Apply For ..................................................................................................................... 8
How a Life Insurance Benefit is Determined ..................................................................................................................................... 8
When a Life Insurance Benefit May Be Limited ................................................................................................................................. 8
When We Pay a Life Benefit ............................................................................................................................................................. 8
When We Will Not Pay a Life Benefit ........................................................................................................................................................ 9
When We Will Pay An Accidental Dismemberment Benefit .............................................................................................................. 9
When We Will Not Pay An Accidental Dismemberment Benefit ........................................................................................................ 9
When We May Not Pay Any Benefit and Terminate All Your Coverage ............................................................................................. 10
Insurance Amounts After A Benefit is Paid ....................................................................................................................................... 10
When Your Life Insurance Ends ........................................................................................................................................................ 10
Definitions Applicable to Life and Accidental Dismemberment Coverages ................................................................................................. 10
Critical Illness Insurance ........................................................................................................................................................................... 11
When Your Critical Illness Insurance Starts ................................................................................................................................................ 11
When You Must Complete a Health Questionnaire .......................................................................................................................... 11
Maximum Critical Illness Insurance Amounts You Can Apply For ...................................................................................................... 11
How A Critical Illness Insurance Benefit is Determined ...................................................................................................................... 11
When A Critical Illness Insurance Benefit May Be Limited ................................................................................................................. 11
When We Pay a Critical Illness Insurance Benefit .............................................................................................................................. 12
When We Will Not Pay a Critical Illness Insurance Benefit ................................................................................................................ 12
When We May Not Pay Any Benefit and Terminate All Your Coverage ............................................................................................. 12
Insurance Amounts After A Benefit Is Paid ....................................................................................................................................... 12
When Your Critical Illness Insurance Ends ......................................................................................................................................... 12
Definitions Applicable to Critical Illness Insurance Coverage ..................................................................................................................... 13
Additional Conditions to Coverage ............................................................................................................................................................. 13
Creditor Defined Plan ...................................................................................................................................................................... 14
Recognition of Prior Coverage ......................................................................................................................................................... 14
Partial Coverage .............................................................................................................................................................................. 14
Premium Information for Critical Illness and Life Insurance ............................................................................................. 15
Premium Rates ................................................................................................................................................................................. 15
How To Calculate Your Premium ...................................................................................................................................................... 15
Additional Information ..................................................................................................................................................................... 16
Definitions of the Terms We’ve Used ................................................................................................................................................................ 17
Commonly Asked Questions About Line of Credit
Critical Illness and Life Insurance ................................................................................................................................................................. 18
Privacy Agreement ................................................................................................................................................................................................ 19
Protecting Your Personal Information ....................................................................................................................................................... 22
PROTECTION FOR YOUR LINE OF CREDIT LINE OF CREDIT CRITICAL ILLNESS AND LIFE INSURANCE GUIDE AND CERTIFICATE 6
Certificate of Insurance
Pages 6 to 17 of this booklet form the Certificate of
Insurance, which applies to persons covered by Line of
Credit Critical Illness and Life Insurance.
Note: In this Certificate of Insurance, you and your refer to a
borrower(s) who is/are insured under the Policy. We, us and our
refer to Canada Life or TD Life as applicable*.
Introduction to Your Insurance
Coverages
Line of Credit Critical Illness and Life Insurance provides life,
accidental dismemberment and critical illness coverages as
described below:
•Forlifecoverage,we will pay TD Bank a benefit amount
towards your Line of Credit in the event of your death.
•Foraccidentaldismembermentcoverage,wewillpay
TD Bank a benefit amount towards your Line of Credit
in the event you suffer a covered loss (See page 9 of the
Certificate of Insurance for details on covered losses).
Your Line of Credit Life Insurance includes accidental
dismemberment coverage.
•Forcriticalillnesscoverage,we will pay TD Bank a benefit
amount towards your Line of Credit in the event you are
diagnosed with Cancer (life threatening), Acute Heart
Attack or Stroke. Critical Illness Insurance is optional and
only available if you enroll for Line of Credit Life Insurance.
The maximum coverage that you can apply and be insured
for is $300,000 for all of your TD Canada Trust Lines of Credit
combined. This limit applies to the total of all life, accidental
dismemberment and Critical Illness Insurance benefits payable
to one person.
If you apply and are insured with Line of Credit Life Insurance,
with or without optional Critical Illness Insurance, the terms and
conditions of your coverage under the Policy consist of:
•your Application;
•your Certificate of Insurance included in this booklet;
•anyotherdocumentswe require you to submit;
•your answers to questions we may ask you in considering
your coverage, whether communicated verbally, in writing
or electronically; and
•anywrittenconrmationsofcoveragewe may provide
you.
In addition, subject to applicable law, you or a person making a
claim on your behalf may request:
•acopyofyour Application;
•acopyoftheCerticateofInsurance;
•acopyofanyotherdocumentswe require you to submit;
and
•acopyofyour answers to questions we may ask you
in considering your coverage, whether communicated
verbally, in writing or electronically.
You or a person making a claim on your behalf may request
copies of any of these documents at any time by calling TD Life
at 1-888-983-7070.
*Accidental dismemberment coverage is provided by
TD Life Insurance Company (“TD Life”) under group Policy
#G/H.60158AD. All other coverages are provided by
The Canada Life Assurance Company (“Canada Life”) under
group Policy #G/H.60158. TD Life is the authorized administrator
for Canada Life.
TD Bank does not act as an agent for Canada Life. Neither
company has any ownership interest in the other.
TD Bank is not an agent for its wholly owned subsidiary,
TD Life. TD Bank receives a fee from Canada Life and TD Life for
its activities, including enrolling borrowers under this coverage.
Beneficiary Information
When a claim is approved, we will pay the benefit amount to
TD Bank to apply to your Line of Credit.
Who Is Eligible For Insurance
Line of Credit Critical Illness and Life Insurance is offered
exclusively to TD Canada Trust Line of Credit borrowers.
To be eligible to apply for insurance on your Line of Credit:
•you are a Canadian resident; and
o you are between 18 and 69 years old to apply for
Life Insurance; or
o you are between 18 and 55 years old to apply for
Critical Illness Insurance. You must be approved and
insured with Life Insurance to enroll in Critical Illness
Insurance.
A Canadian resident is any person who:
•haslivedinCanadaforatotalof183daysormorewithin
the last year (days do not need to be consecutive); or
•isamemberoftheCanadianForces.
PROTECTION FOR YOUR LINE OF CREDIT LINE OF CREDIT CRITICAL ILLNESS AND LIFE INSURANCE GUIDE AND CERTIFICATE 7
If you do not meet the age or health requirements, you may
be eligible for full or partial coverage based on recognition of
prior coverage. For more information, please refer to section
“Recognition of Prior Coverage”.
Note: Any borrower on this Line of Credit can apply for Line of
Credit Critical Illness and Life Insurance.
How To Apply
To apply for coverage, you must complete and submit an
Application. You can apply for coverage at any time through
a TD Canada Trust branch.
How To Submit A Claim
Claim forms are available by calling TD Life at 1-888-983-7070
or online at tdinsurance.com/claims.
We Must Receive A Claim Within A Specific
Time
• For a life claim, you must submit your claim within one
year of the date of death.
• For an accidental dismemberment claim, you must submit
your claim within one year of the date of your loss.
• For a critical illness claim, you must submit a written claim
to us within 180 days of being diagnosed with a covered
critical illness. You will also need to provide written proof
of the diagnosis of a covered critical illness.
We will not pay any claims that are made after these deadlines.
We may also require:
• additionalprooforinformationregardingtheclaim;or
• you to be examined by a physician of our choice to validate
a claim; or
• both;inanycase,we will only pay benefits after these
requirements are satisfied.
Additional Claim Information
• Ifyou have insured more than one Line of Credit, we will
make insurance benefit payments to each Line of Credit
in the order in which you insured your Lines of Credit.
• Everyactionorproceedingagainsttheinsurerforthe
recovery of insurance money payable under the contract
is absolutely barred unless commenced within the time
set out in the Insurance Act (for actions or proceedings
governed by the laws of Alberta and British Columbia),
The Insurance Act (for actions or proceedings governed
by the laws of Manitoba), the Limitations Act, 2002 (for
actions or proceedings governed by the laws of Ontario),
or other applicable legislation in your province or territory.
Definitions Applicable to Line of Credit Critical Illness
and Life Insurance
Application: the completed written, printed, electronic,
and/or telephone application for Line of Credit
Critical Illness and Life Insurance, including the Health
Questionnaire, if applicable.
Line(s) of Credit: your secured or unsecured TD Canada
Trust Line of Credit.
Policy: group Policy #G/H.60158 issued by Canada
Life to TD Bank, which provides life and optional
Critical Illness Insurance coverage, and group Policy
#G/H.60158AD issued by Canada Life to TD Bank which
provides accidental dismemberment coverage.
PROTECTION FOR YOUR LINE OF CREDIT LINE OF CREDIT CRITICAL ILLNESS AND LIFE INSURANCE GUIDE AND CERTIFICATE 8
Coverages
Life Insurance
Life Insurance includes life and accidental dismemberment.
When Your Life Insurance Starts
Once your Line of Credit has been approved, your coverage starts:
•onthedateyou applied for coverage if your insured
Lines of Credit are less than or equal to $50,000;
•onthedate you applied for coverage if you answered
“NO” to health questions 1 to 3 in your Application
(Section: Information about your health); or
•onthedatewe write to let you know that we have
approved your Life Insurance if you answered “YES” to
any of the health questions in your Application (Section:
Information about your health).
When You Must Complete a Health
Questionnaire
•You will need to complete a Health Questionnaire to be
considered for the full term on your Line of Credit if you
answered “YES” to any of the health questions in your
Application (Section: Information about your health).
•We will review your Application and let you know by mail
if you are approved. Coverage starts on the date we write
to let you know we have approved your Life Insurance and/
or Critical Illness Insurance for the full term of your Line of
Credit or under Creditor Defined Plan.
Note: We reserve the right to change our underwriting
requirements and the questions in the Application at
any time.
Maximum Life Insurance Amounts You
Can Apply For
You can apply to insure the credit limit or plan limit of your Line
of Credit to a maximum of $300,000 for all of your combined
Lines of Credit. This limit applies to the total life, accidental
dismemberment and Critical Illness Insurance benefits payable to
1 person.
Note: The amount of coverage will be subject to the maximum
Life Insurance amounts and any other applicable
restrictions as outlined in your insurance approval letter or
Certificate of Insurance.
How A Life Insurance Benefit Is Determined
When we pay an insurance benefit, we will determine the
amount payable as of the following dates:
• forlifecoverage,thedateofdeath;
• foraccidentaldismembermentcoverage,thedateofthe
Accident, which caused a covered loss.
When a benefit is paid, subject to the maximum Life Insurance
amount of $300,000, we pay the following amount associated
with your Line of Credit:
• theoutstandingbalanceuptoyour Life Insurance Amount,
on the date of death or date the Accident caused a
covered loss. We will not pay more than this outstanding
balance*;
• anydischargeorpenaltyfees;
• anyinterestowing;
• minusanyLine of Credit payments that are in arrears prior
to the date we determine benefits.
*Payment is always subject to the section “When A Life Insurance
Benefit May Be Limited”.
When A Life Insurance Benefit May Be Limited
The Life Insurance benefit may be limited if the death of any
insured borrower results from an illness or condition for which you
had symptoms, received medical consultation, treatment, care or
services, including prescribed medication within the 12 months prior
to the date of death.
In this case, the insurance benefit will be limited to the greater of:
• theoutstandingbalanceonthedaybeforethedateof
diagnosis by a qualified physician of the illness or condition
that caused your death, subject to the Life Insurance
Amount*; or
• 110%oftheaveragestatementbalancesforthisinsuredLine
of Credit for the past 12 months.
For Example:
Statement
Balance
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
1,000
1,100
1,200
1,300
1,400
1,500
1,600
1,700
1,800
5,000
5,500
6,000
Average
statement
balance
(1000 + 1100 + 1200 + 1300 + 1400 + 1500
+ 1600 + 1700 + 1800 + 5000 + 5500 + 6000)
÷ 12 =$2425
Insurance
benefit
paid
$2425 x110% = $2667.50
*For more information, please refer to section “Maximum Amounts Can Apply For”.
When We Pay a Life Benefit
In the event of death, we will pay a benefit to TD Bank up to your
Life Insurance Amount, and subject to any limitations set out in this
Certificate of Insurance.
PROTECTION FOR YOUR LINE OF CREDIT LINE OF CREDIT CRITICAL ILLNESS AND LIFE INSURANCE GUIDE AND CERTIFICATE 9
When We Will Not Pay A Life Benefit
• your death occurs before your insurance coverage starts;
• your death is a result of, associated with, or happens while you
are committing a criminal offence;
• your life claim is not made within one year of the date of death;
• your insurance coverage has been in force for less than two
years, and you die from intentional self-inflicted injury, suicide,
attempted suicide (whether you are aware or not aware of the
result of your actions, regardless of your state of mind). If this
happens, we will refund all insurance premiums; or
• your insured Lines of Credit are less than or equal to $50,000
and your death occurs within 12 months from the date your
coverage starts, and is the result of an illness or condition for
which you received medical consultation, treatment, care or
services, including prescribed medication, during the 12 months
prior to the date your coverage starts. In this instance, all
insurance premiums paid will be refunded.
For additional exclusions, please refer to section “When We May Not
Pay Any Benefit and Terminate All Your Coverage”.
When We Will Pay An Accidental
Dismemberment Benefit
In the event of accidental dismemberment, we will pay a benefit
to TD Bank up to your Life Insurance Amount if you suffer a
covered loss as described below, which:
• isabodilyinjury;
• issolelyanddirectlycausedbyanAccident;
• occurswithin365daysoftheAccident; and
• isbeyondremedybysurgicalorothermeans.
List of covered losses:
• lossofbotharms;
• lossofbothlegs;
• lossofonearmandoneleg;
• lossofonelegandsightofoneeye;
• lossofonearmandsightofoneeye;
• lossofsightinbotheyes;
• lossofuseofbothlegsoralllimbsduetoparaplegiaor
quadriplegia;
• lossofuseofanarmandlegononesideofthebodydue
to hemiplegia.
Losses are defined as follows:
•lossofanarmmeansthatthelimbisseveredatorabove
the wrist joint;
•lossofalegmeansthatthelimbisseveredatorabovethe
ankle joint;
•lossofsightmeansthetotalandirreversiblelossofvisionin
the eye as confirmed by an ophthalmologist, with corrected
visual acuity being 20/200 or less;
•paraplegiameansthecompleteandirrecoverableparalysisof
the legs and lower part of the body;
•quadriplegiameansthecompleteandirrecoverableparalysis
of the body from the neck down; and
•hemiplegiameansthecompleteandirrecoverableparalysisof
one side of the body.
When We Will Not Pay An Accidental
Dismemberment Benefit
•your accidental dismemberment occurs before your
insurance coverage starts;
•your accidental dismemberment was due to drug or
alcohol misuse or abuse;
•your loss is a result of intentional self-inflicted injury,
suicide, attempted suicide (whether you are aware or not
aware of the result of your actions, regardless of your state
of mind);
•your loss relates to an Accident that took place more than
12 months before the covered loss occurred;
•your loss is a result of, associated with, or happens while
you are committing a criminal offence;
•your claim is not made within one year of the date of your
loss; or
•your loss is an injury resulting either directly or indirectly
from any illness, medical condition or congenital defect
regardless of:
•whethertheillnessorconditionbeganbeforeorafter
your coverage starts;
•howyou came to suffer from the illness or condition;
and
•whethertheillness,conditionordefectorresulting
injury was expected or unexpected.
For additional exclusions, please refer to section “When We May
Not Pay Any Benefit and Terminate All Your Coverage”.
PROTECTION FOR YOUR LINE OF CREDIT LINE OF CREDIT CRITICAL ILLNESS AND LIFE INSURANCE GUIDE AND CERTIFICATE 10
When We May Not Pay Any Benefit and
Terminate All Your Coverage
•you give any false or incomplete responses to information
that we require to approve your insurance; or
•you give any false or incomplete information when
requesting any change to your coverage.
This applies to the responses in your Application and to any
other information we receive from you, whether in writing,
electronically or by telephone.
Insurance Amounts After A Benefit Is Paid
•Whenwe pay an accidental dismemberment insurance
benefit your Critical Illness Insurance Amount and Life
Insurance Amount is reduced by the amount of the
payment.
•Whenwe pay a Critical Illness Insurance benefit, your
Life Insurance Amount is reduced by the amount of the
payment.
•Whenwe pay an insurance benefit, the reduction in your
benefit amount or termination of your coverage will
not impact the Life Insurance Amount of other insured
borrowers on your Line of Credit.
For Example: Your Life Insurance Amount is $200,000.
When your accidental dismemberment claim is approved, the
balance on your Line of Credit as of the date of the covered
loss is $100,000. After your accidental dismemberment claim
is paid, your Life Insurance Amount is reduced to $100,000.
When Your Life Insurance Ends
Your Life Insurance on your Line of Credit will end without notice to
you, on the date when any of the following occurs:
• you no longer are a borrower on the Line of Credit;
• you turn 70 years old (applies to coverage for the full term
of your Line of Credit or while covered under the Creditor
Defined Plan);
• your 5-year period of coverage has come to an end if you are
covered under the Creditor Defined Plan;
• we receive a written request from you to cancel your
coverage or, if we are able to confirm your identity, and we
receive your request by telephone to cancel your coverage;
• your insured Line of Credit is paid in full and closed,
transferred to another financial institution or assumed by
another person*;
• your insurance premium is in arrears three months or more*;
• 30daysafterwe or TD Canada Trust give you written notice
of the termination of the Policy*;
• TD Canada Trust starts legal proceedings against you
concerning your Line of Credit*;
• you have Life Insurance and increase the credit limit or plan
limit, and the combined limits of all your insured Lines of
Credit, including this Line of Credit, is over $50,000. In this
instance, you will need to reapply*;
• you complete an Application for Life Insurance but before
the Line of Credit is activated, TD Canada Trust approves a
change to the credit limit or plan limit that would increase
the combined limits of all your insured Lines of Credit to over
$50,000. In this instance, you will need to reapply*; or
• you die.
*This will end insurance coverage for other insured borrowers on
the Line of Credit.
When your insurance coverage ends for any reason, we will not
notify the other person(s) liable to TD Canada Trust for the Line
of Credit.
We will refund any premiums we may owe you after your
coverage ends. If you cancel your coverage within the first 30
days, your premiums will be refunded and coverage will be
considered never to have been in force. If a claim is made within
the first 30 days, a refund is not provided.
Note: Your insurance coverage may end prior to the repayment of
your Line of Credit.
Definitions Applicable to Life and Accidental
Dismemberment Coverages
Accident: a violent, sudden and unexpected action from
an external source but does not include injuries resulting
either directly or indirectly from any illness, medical
condition or congenital defect, regardless of:
•whethertheillnessorconditionarosebeforeor
after your coverage starts;
•howtheinsuredpersoncametosufferfromthe
illness or condition; or
•whethertheillness,conditionordefectorresulting
injury was expected or unexpected.
Application: the completed written, printed, electronic,
and/or telephone application for Line of Credit
Critical Illness and Life Insurance, including the Health
Questionnaire, if applicable.
PROTECTION FOR YOUR LINE OF CREDIT LINE OF CREDIT CRITICAL ILLNESS AND LIFE INSURANCE GUIDE AND CERTIFICATE 11
Creditor Defined Plan: Life Insurance or Critical Illness
and Life Insurance for a 5-year period of coverage, up
to a maximum of $300,000 for Life and $300,000 for
Critical Illness. Individuals enrolled in this plan must
re-apply if seeking to maintain credit protection on their
Line of Credit beyond their 5-year period of coverage.
Health Questionnaire: the detailed questionnaire that
must be be completed in order to be considered for the
full term on your Line of Credit if you answer “YES” to
any of the health questions on the Application.
Life Insurance Amount: the maximum amount that
may be payable as a Life Insurance benefit. It is equal
to the lesser of (i) the credit limit/plan limit of the Line
of Credit, (ii) partial coverage amount indicated in the
letter sent approving you for coverage, or (iii) $300,000.
The Life Insurance Amount may change. For more
information, please refer to the section “Insurance
Amounts After a Benefit is Paid”.
Critical Illness Insurance
Critical Illness Insurance covers Cancer (life threatening), Acute
Heart Attack and Stroke.
When Your Critical Illness Insurance Starts
Once your Line of Credit has been approved, your Critical Illness
Insurance starts:
•onthedateyou applied for coverage if you answered
“NO” to all health questions in your Application (Section:
Information about your health); or
•onthedatewe write to let you know that we have
approved your Critical Illness Insurance if you answered
“YES” to any of the health questions in your Application
(Section: Information about your health).
When You Must Complete a Health
Questionnaire
•You will need to complete a Health Questionnaire in order
to be considered for the full term on your Line of Credit if
you answered “YES” to any of the health questions in your
Application (Section: Information about your health).
•We will review your Application and let you know by mail if
you are approved for the coverage(s) you applied for.
Note: We reserve the right to change our underwriting
requirements and the questions in the Application at
any time.
If you apply for Critical Illness Insurance in addition to Life
Insurance and we require additional information from you, your
coverages may start on different dates, but your Critical Illness
Insurance can never begin before your Life Insurance.
Maximum Critical Illness Insurance Amounts
You Can Apply For
You can apply to insure the credit limit or plan limit of your
Line of Credit to a maximum of $300,000 for all of your
combined TD Canada Trust Lines of Credit. This limit applies
to the total life, accidental dismemberment and Critical Illness
Insurance benefits payable to one person.
Note: The amount of coverage will be subject to the maximum
Critical Illness Insurance Amounts and any other applicable
restrictions as outlined in your insurance approval letter or
Certificate of Insurance.
How A Critical Illness Insurance Benefit Is
Determined
When we pay an insurance benefit, we will determine the
amount payable as of the date of diagnosis.
When a benefit is paid, subject to the maximum Critical Illness
Insurance Amount of $300,000, we pay the following amount
associated with your Line of Credit:
• theoutstandingbalanceuptoyour Insurance Amount
on the date of diagnosis*. We will not pay more than this
outstanding balance;
• anydischargeorpenaltyfees;
• anyinterestowing;
• minusanyLine of Credit payments that are in arrears prior
to the date we determine benefits.
*Payment is always subject to the section “When A Critical
Illness Insurance Benefit May Be Limited”.
When A Critical Illness Insurance Benefit
May Be Limited
The Critical Illness Insurance benefit may be limited if diagnosis
of the covered critical illness results directly or indirectly from
any illness or condition for which you had symptoms, received
medical consultation, treatment, care or services, including
prescribed medication within the 12 months prior to the date
of diagnosis.
In such case, the insurance benefit will be the lesser of:
•theoutstandingbalanceonthedateofdiagnosissubject
to the Critical Illness Insurance Amount*; or
•110%oftheaveragestatementbalancesforthisinsured
Line of Credit for the past 12 months.
PROTECTION FOR YOUR LINE OF CREDIT LINE OF CREDIT CRITICAL ILLNESS AND LIFE INSURANCE GUIDE AND CERTIFICATE 12
For Example:
Statement
Balance
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
1,000
1,100
1,200
1,300
1,400
1,500
1,600
1,700
1,800
5,000
5,500
6,000
Average
statement
balance
(1000 + 1100 + 1200 + 1300 + 1400 + 1500
+ 1600 + 1700 + 1800 + 5000 + 5500 + 6000)
÷ 12 = $2425
Insurance
benefit
paid
$2425 x 110% = $2667.50
*For more information, please refer to section “Maximum Amounts You Can Apply For “.
When We Pay A Critical Illness Insurance
Benefit
In the event you are diagnosed with Cancer (life threatening),
Acute Heart Attack, or Stroke we will pay a benefit to TD Bank
up to your Critical Illness Insurance Amount, subject to any
limitations set out in this Certificate of Insurance.
When We Will Not Pay A Critical Illness
Insurance Benefit
•your diagnosis of a covered condition occurs within
24 months of you becoming covered under this Certificate
of Insurance, and is a result of an illness or condition for
which you had symptoms or received medical consultation,
treatment, care or services, including prescribed
medication, during the 24 months prior to the start
of your Critical Illness Insurance (this is called a
“pre-existing condition”);
•your claim is a result of your use of illegal or illicit drugs or
substances;
•your claim is a result of your misuse of medication
obtained with or without prescription; or
•adiagnosis of Cancer (life threatening) or investigation
leading to a diagnosis, occurs within 90 days when your
coverage starts. In this instance, all insurance premiums
paid will be refunded.
For additional exclusions, please refer to section “When We May
Not Pay Any Benefit and Terminate All Your Coverage”.
When We May Not Pay Any Benefit and
Terminate All Your Coverage
•you give any false or incomplete responses to information
that we require to approve your insurance; or
•you give any false or incomplete information when
requesting any change to your coverage.
This applies to the responses in your Application and to any
other information we receive from you, whether in writing,
electronically or by telephone.
Insurance Amounts After a Benefit Is Paid
•Whenwe pay an accidental dismemberment insurance
benefit your Critical Illness Insurance Amount and Life
Insurance Amount is reduced by the amount of the
payment.
•Whenwe pay a Critical Illness Insurance benefit, your
Life Insurance Amount is reduced by the amount of the
payment.
•Whenwe pay an insurance benefit, the reduction in your
Critical Illness Insurance Amount or termination of your
coverage will not impact the Critical Illness Insurance
Amount of other insured borrowers on your Line of Credit.
For Example: Your Life Insurance Amount is $200,000.
When your Critical Illness Insurance claim is approved,
the balance on your Line of Credit as of the date of
diagnosis is $100,000. After your Critical Illness Insurance
benefit is paid, your Life Insurance Amount is reduced to
$100,000.
When Your Critical Illness Insurance Ends
Your Critical Illness Insurance on your Line of Credit will end
without notice to you on the date that your Life Insurance ends,
as described in the section “When Your Life Insurance Ends,” or
when any of the following occurs:
•ifwe pay any Critical Illness Insurance benefit on you to your
insured Line of Credit;
•adiagnosis of Cancer (life threatening) or investigation
leading to a diagnosis, occurs within 90 days from when
your coverage starts;
•we receive a written request from you to cancel your
Critical Illness Insurance or, if we are able to confirm your
identity, and we receive your request by telephone to
cancel your Critical Illness Insurance; or
•ifyou are covered under the Creditor Defined Plan, your
5-year period of coverage has come to an end, or you turn
70 while enrolled in the Creditor Defined Plan.
This will not end insurance coverage for other insured borrowers
on the Line of Credit.
When your insurance coverage ends for any reason, we will not
notify the other person(s) liable to TD Canada Trust for the Line
of Credit.
PROTECTION FOR YOUR LINE OF CREDIT LINE OF CREDIT CRITICAL ILLNESS AND LIFE INSURANCE GUIDE AND CERTIFICATE 13
We will refund any premiums we may owe you after your
coverage ends. If you cancel your coverage within the first 30
days, your premiums will be refunded and coverage will be
considered never to have been in force. If a claim is made within
the first 30 days, a refund is not provided.
Note: Your insurance coverage may end prior to the repayment of
your Line of Credit.
Definitions Applicable To Critical Illness Insurance
Coverage
Acute Heart Attack: the death of a portion of your heart
muscle resulting from inadequate blood supply for which
the following test results are confirmed:
•anincreaseofcardiacbio-markersand/orenzymes
found in the blood stream, as a result of damaged
heart muscle tissue, to levels considered diagnostic for
an acute myocardial infarction.
Diagnosis of the Acute Heart Attack must be made by a
qualified cardiac specialist.
Acute Heart Attack does not include:
•anincidentalndingofelectrocardiogramchanges
suggesting a prior myocardial infarction with no
corroborating event;
•anincreaseofcardiacbio-markersand/orenzymesdue
to coronary angioplasty (a medical procedure involving
the ballooning of a narrowed coronary artery) unless
there are new elevations of ST segments in the
involved electrocardiogram leads considered diagnostic
for an acute myocardial infarction; or
•anincreaseofcardiacbio-markersand/orenzymesin
the blood stream due to pericarditis or myocarditis.
Application: the completed written, printed, electronic, and/or
telephone application for Line of Credit Critical Illness and Life
Insurance, including the Health Questionnaire, if applicable.
Cancer (life threatening): a life-threatening tumour
characterized by the uncontrollable growth and spread of
malignant cells.
Cancer (life threatening) does not include:
•carcinomainsitu;
•malignantmelanomatoadepthof.75mmorless;
•skinCancerthathasnotspreadbeyondthedeepest
layer of the skin;
•Kaposi’ssarcoma;
•StageA(T1AorT1B)prostateCancer;or
•anydiagnosis or investigation leading to a diagnosis,
which occurs within 90 days when your coverage starts.
Creditor Defined Plan: Life Insurance or Critical Illness
and Life Insurance for a 5-year period of coverage, up to a
maximum of $300,000 for Life and $300,000 for Critical
Illness. Individuals enrolled in this plan must re-apply if
seeking to maintain credit protection on their Line of
Credit beyond their 5-year period of coverage.
Critical Illness Insurance Amount: the maximum
amount that may be payable as a Critical Illness Insurance
benefit. It is equal to the lesser of (i) the credit limit/plan
limit of the Line of Credit, or (ii) partial coverage amount
indicated in the letter sent approving you for coverage, or
(iii) $300,000. The Critical Illness Insurance Amount may
change. For more information, please refer to the section
“Insurance Amounts after a Benefit is Paid”.
Health Questionnaire: the detailed questionnaire that
must be completed in order to be considered for the full
term on your Line of Credit if you answer “YES” to any of
the health questions on the Application.
Stroke: a cerebrovascular event producing neurological
sequelae lasting more than 30 consecutive days and
caused by thrombosis, hemorrhage or embolism from an
extra-cranial source, and for which there is evidence of
measurable, objective neurological deficit.
Stroke does not include:
•TransientIschemicAttacks
Additional Conditions to Coverage
The following sections explain additional conditions that may
apply to your Life Insurance or Critical Illness and Life Insurance.
If any of these additional conditions apply to you, we will let you
know in writing.
The additional conditions to coverage are subject to all exclusions
and limitations to Life Insurance and Critical Illness Insurance
coverage outlined in the following sections:
•“When We Will Not Pay a Life Benefit”, page 9
•“When We Will Not Pay An Accidental Dismemberment
Benefit”, page 9
•“When We Will Not Pay A Critical Illness Insurance
Benefit”, page 12
•“When We May Not Pay Any Benefit And Terminate All Your
Coverage”, page 12
•“When your Life Insurance Coverage Ends”, page 10, and;
•“When your Critical Illness Insurance coverage Ends”, page 12.
PROTECTION FOR YOUR LINE OF CREDIT LINE OF CREDIT CRITICAL ILLNESS AND LIFE INSURANCE GUIDE AND CERTIFICATE 14
Creditor Defined Plan
The Creditor Defined Plan provides the same coverage as Life
Insurance or Critical Illness and Life Insurance up to a maximum of
$300,000 per coverage but is limited to a 5-year period.
Note: Please refer to the “Life Insurance” and “Critical Illness
Insurance” sections on pages 8 and 11.
To be considered for the Creditor Defined Plan, you will need to
provide your consent on your Application. Your consent to be
enrolled does not guarantee your enrollment in coverage. We may
not be able to provide you with any coverage if you do not meet
our standard approval criteria.
There are two circumstances when you may consent to be
enrolled in the Creditor Defined Plan:
•Dependingonyour answers to the questions on the Health
Questionnaire, we may determine that you do not qualify
for coverage on the full-term of your Line of Credit. In
this case, you may choose to be enrolled in the Creditor
Defined Plan if you meet our standard approval criteria; or
•Intheeventthatwe are unable to reach you to complete
the Health Questionnaire and complete our underwriting
process, we will not be able to consider you for coverage
for the full-term on your Line of Credit.
If you are enrolled in our Creditor Defined Plan, your coverage
effective date is the date we write to let you know that we
have approved you for Life Insurance or Critical Illness and Life
Insurance. Our 30-day money-back guarantee described on
page 18 applies if you are enrolled in the Creditor Defined Plan.
At the end of the 5-year period following your coverage effective
date, you will need to complete a new Application for coverage if
you wish to maintain credit protection on your Line of Credit.
Premiums are calculated based on your age at billing, your average
monthly balance and number of days in the billing period.
Please note that individuals who are approved under the Creditor
Defined Plan will not be considered for Recognition of Prior
Coverage as described under section “Recognition of Prior
Coverage” on page 14.
Recognition Of Prior Coverage
We may approve you for full or partial coverage on your Line of
Credit, based on the amount previously insured, if:
•you do not meet our health requirements; or
•you are over age 55 but under 70; and
•you were insured with us under a previous Line of Credit
or Mortgage with coverage other than our Creditor
Defined Plan.
To qualify for recognition of prior coverage, you must apply within
30 days of the:
•dischargeofyour existing TD Canada Trust Mortgage; or
•closureofyour existing Line of Credit.
Your maximum coverage amount, under Recognition of Prior
Coverage, will be a flat dollar amount equal to the balance of
the discharged mortgage or the credit limit or plan limit on the
previous Line of Credit. We will specify the amount in the letter we
send approving you for coverage.
For Example: Your existing Line of Credit or Mortgage
covered with Life Insurance for $75,000 is being replaced by
a new Line of Credit for $183,000. Life Insurance approved
on your new Line of Credit will be $75,000. At claim time,
the maximum amount that can be paid is $75,000.
Partial Coverage
If you have more than one Line of Credit and you apply for Life or
Critical Illness and Life Insurance, we may offer you coverage up
to the maximum of $300,000 distributed between your Lines of
Credit. If the total of all your Lines of Credit are over $300,000,
the maximum benefit paid will equal $300,000.
The following two examples illustrate when we would offer partial
coverage:
Example 1:
•You have Critical Illness and Life coverage on your first
Line of Credit for $100,000.
•You are approved for a second Line of Credit for
$400,000.
•Sincemaximumcoverageofferedis$300,000,the
remaining Critical Illness and Life coverage available
on your second Line of Credit is $200,000
($300,000 - $100,000).
•Ifatclaimtimethebalanceonyour second Line of
Credit is $300,000, then the maximum amount payable
under your partial coverage will be $200,000.
Example 2: Your Line of Credit limit was $600,000 when
you applied for Life or Critical Illness and Life Insurance.
•Themaximumcoverageofferedis$300,000.
•Ifatclaimtimethebalanceonyour Line of Credit is
$400,000, then the maximum amount payable under
your partial coverage will be $300,000.
PROTECTION FOR YOUR LINE OF CREDIT LINE OF CREDIT CRITICAL ILLNESS AND LIFE INSURANCE GUIDE AND CERTIFICATE 15
Premium Information for
Critical Illness and Life
Insurance
•Critical Illness Insurance premiums and Life Insurance
premiums for each covered borrower are calculated
separately at the time each borrower applies for coverage
and billed jointly.
•Your premium will fluctuate based on your age at billing,
your average monthly balance and number of days in the
billing period.
•Theratetocalculateyour premium is based on your age
at billing.
•A15%multi-insureddiscountwillapplytotheLife
Insurance premium if two or more persons are insured
with Life Insurance on the billing date.
•A20%discountwillapplytothepremiumfortheaverage
balance portion that exceeds $75,000. We call this a tier
discount.
•A15%multi-insureddiscountwillapplytotheCritical Illness
Insurance premium if two or more persons are insured with
Critical Illness Insurance on the billing date.
•Provincialsalestaxesareaddedtoyour premiums, if
applicable.
The monthly average balance is calculated using the average
daily balances for the Line of Credit during the insurance billing
period. If the daily balance you owe on any day is negative,
we will use a daily balance of zero for that day in this calculation.
Daily balances for the revolving portion and any fixed portions
will be combined into a single amount and used to calculate
premiums.
Note: The average balance used to calculate premiums will be
capped at the Insurance Amount.
For Example: If your monthly average balance on your
Line of Credit is $400,000 and you have a maximum
coverage of $300,000, the average balance used in your
premium calculation will be $300,000.
Your insurance billing period usually starts on the last business
day of the previous month, and ends on the second last business
day of the current month. The number of days in an insurance
billing period depends on the number of days in each month.
If your coverage begins during the middle of the month, your
insurance billing period will start on the day your coverage starts.
Similarly, your last insurance billing period will end on the day
your coverage terminates.
The premium rates per $1,000 of coverage are shown in the
table below. These rates do not include provincial sales taxes.
Note: If we increase the rates, the increase will apply to everyone
covered. We’ll let you know before making any changes
to the rates.
Premium Rates
Monthly premium rates per $1,000 of single coverage:
Age Life
Insurance
Critical
Illness
Insurance
Age Life
Insurance
Critical
Illness
Insurance
18-29 $0.16 $0.16 50 $0.63 $0.81
30 $0.17 $0.17 51 $0.65 $0.86
31 $0.19 $0.19 52 $0.69 $0.94
32 $0.20 $0.20 53 $0.74 $1.02
33 $0.21 $0.21 54 $0.78 $1.11
34 $0.22 $0.22 55 $0.83 $1.22
35 $0.23 $0.23 56 $0.88 $1.34*
36 $0.24 $0.24 57 $0.93 $1.51*
37 $0.25 $0.25 58 $1.00 $1.70*
38 $0.28 $0.29 59 $1.08 $1.80*
39 $0.30 $0.32 60 $1.16 $1.89*
40 $0.31 $0.35 61 $1.25 $1.99*
41 $0.34 $0.38 62 $1.35 $2.09*
42 $0.36 $0.43 63 $1.47 $2.18*
43 $0.38 $0.48 64 $1.61 $2.28*
44 $0.41 $0.52 65 $1.75 $2.37*
45 $0.44 $0.56 66 $1.92 $2.46*
46 $0.47 $0.61 67 $2.11 $2.57*
47 $0.50 $0.66 68 $2.32 $2.66*
48 $0.55 $0.72 69 $2.60 $2.75*
49 $0.60 $0.77
*Available only under Recognition of Prior Coverage
How To Calculate Your Premium
We will withdraw your insurance premiums, plus any applicable
provincial sales taxes on the last business day of each month
from your Line of Credit account.
To calculate your monthly premium:
1. Find the rate that applies to you in the table.
2. Multiply the rate by the average balance for your Line
of Credit during the insurance billing period and divide it
by 1,000.
3. Multiply the result (from step 2) by 12, then divide by 365 to
get the daily premium.
4. Multiply the daily premium by the number of days in your
insurance billing period.
PROTECTION FOR YOUR LINE OF CREDIT LINE OF CREDIT CRITICAL ILLNESS AND LIFE INSURANCE GUIDE AND CERTIFICATE 16
5. Apply the multi-insured discount, if applicable.
6. Apply the tier discount, if applicable.
7. Apply provincial sales tax, if applicable.
Examples:
Your monthly premium is dependent on the number
of days in your insurance billing period. For illustration
purposes, we will use a 31-day billing period in the
following examples.
Single Applicant
You are 34 years old and the average balance for your Line
of Credit this month was $20,000. Your monthly insurance
premium would be:
Life Critical Illness
Step 1: $0.22 $0.22
Step 2: $0.22 x $20,000 ÷ 1000
= $4.40
$0.22 x $20,000 ÷ 1000
= $4.40
Step 3: $4.40 x 12 ÷ 365
= 0.1447
$4.40 x 12 ÷ 365
= 0.1447
Step 4: 0.1447 x 31 = $4.48 0.1447 x 31 = $4.48
Step 5: N/A N/A
Step 6: N/A N/A
Monthly premium $4.48 + $4.48 = $8.96 plus applicable
provincial sales tax.
Multiple Applicants
You are 34 years old, your spouse is 32 and the average balance on
your Line of Credit this month is $20,000. Your monthly insurance
premium for joint coverage would be:
Life Critical Illness
Step 1: $0.22 + $0.20 = $0.42 $0.22 + $0.20 = $0.42
Step 2: $0.42 x $20,000 ÷ 1000
= $8.40
$0.42 x $20,000 ÷ 1000
= $8.40
Step 3: $8.40 x 12 ÷ 365
= 0.2762
$8.40 x 12 ÷ 365
= 0.2762
Step 4: 0.2762 x 31 = $8.56 0.2762 x 31 = $8.56
Step 5: $8.56 - 15% = $7.28 $8.56 - 15% = $7.28
Step 6: N/A N/A
Monthly premium $7.28 + $7.28 = $14.56 plus applicable
provincial sales tax.
Single Applicant With A Tier Discount
You are 34 years old and the average balance for your Line of
Credit this month was $200,000. A “tier” discount of 20% will
be applied to the premiums for the portion of the balance that
exceeds $75,000. Your monthly Life Insurance premium would be:
Life
Step 1: $0.22
Step 2: $0.22 x $75,000 ÷ 1000 = $16.50
$0.22 x ($200,000-$75,000) ÷ 1000 = $27.50
Step 3: $16.5 x 12 ÷ 365 = 0.5425
$27.5 x 12 ÷ 365 = 0.9041
Step 4: 0.5425 x 31 = $16.82
0.9041 x 31 = $28.03
Step 5: N/A
Step 6: $28.03 - 20% = $22.42
Monthly premium $16.82 + $22.42 = $39.24 plus applicable
provincial sales tax.
Additional Information
As a general rule, no benefit is payable until a withdrawal has
been made on the Line of Credit. The following exception
applies with respect to the purchase of real estate:
•you enter into an Agreement of Purchase and Sale for a
house or other real estate; and
•TD Canada Trust commits to advance funds to pay for the
real estate; and
• you suffer a loss that would be covered under this
Certificate of Insurance after coverage starts but before the
funds are advanced;
then in this instance, any Line of Credit funds advanced by
TD Canada Trust to pay for the real estate will be included to
calculate the benefit.
PROTECTION FOR YOUR LINE OF CREDIT LINE OF CREDIT CRITICAL ILLNESS AND LIFE INSURANCE GUIDE AND CERTIFICATE 17
Definitions Of The Terms We’ve Used
The Certificate of Insurance used the following terms, which are
identified in italics:
Accident a violent, sudden and unexpected action from an external
source but does not include injuries resulting either
directly or indirectly from any illness, medical condition or
congenital defect, regardless of:
• whethertheillnessorconditionarosebeforeorafter
your coverage starts;
• howtheinsuredpersoncametosufferfromtheillness
or condition; or
• whethertheillness,conditionordefectorresulting
injury was expected or unexpected.
Acute Heart
Attack
the death of a portion of your heart muscle resulting from
inadequate blood supply for which the following test
results are confirmed:
• anincreaseofcardiacbio-markersand/orenzymes
found in the blood stream, as a result of damaged
heart muscle tissue, to levels considered diagnostic
for an acute myocardial infarction.
Diagnosis of the Acute Heart Attack must be made by a
qualified cardiac specialist.
Acute Heart Attack does not include:
• anincidentalndingofelectrocardiogramchanges
suggesting a prior myocardial infarction with no
corroborating event;
• anincreaseofcardiacbio-markersand/orenzymesdue
to coronary angioplasty (a medical procedure involving
the ballooning of a narrowed coronary artery) unless
there are new elevations of ST segments in the involved
electrocardiogram leads considered diagnostic for an
acute myocardial infarction; or
• anincreaseofcardiacbio-markersand/orenzymesin
the blood stream due to pericarditis or myocarditis.
Application the completed written, printed, electronic, and/or
telephone application for Line of Credit Critical Illness
and Life Insurance, including the Health Questionnaire, if
applicable.
Cancer (life
threatening)
a life-threatening tumour characterized by the
uncontrollable growth and spread of malignant cells.
Cancer (life threatening) does not include:
• carcinomainsitu;
• malignantmelanomatoadepthof.75mmorless;
• skincancerthathasnotspreadbeyondthedeepest
layer of the skin;
• Kaposi’ssarcoma;
• StageA(T1AorT1B)prostatecancer;or
• anydiagnosisorinvestigationleadingtoadiagnosis,
which occurs within 90 days when your coverage
starts.
Creditor
Defined Plan
Life Insurance or Critical Illness and Life Insurance for a
5-year period of coverage, up to a maximum of $300,000
for Life and $300,000 for Critical Illness. Individuals
enrolled in this plan must re-apply if seeking to maintain
credit protection on their Line of Credit beyond their
5-year period of coverage.
Critical Illness
Insurance
Critical Illness Insurance for Cancer (life threatening), Acute
Heart Attack and Stroke, as more fully described in the
“Critical Illness Insurance” section.
Critical Illness
Insurance
Amount(s)
the maximum amount that may be payable as a Critical
Illness Insurance benefit. It is equal to the lesser of (i)
the credit limit/plan limit of the Line of Credit, (ii) partial
coverage amount indicated in the letter sent approving
you for coverage, or (iii) $300,000. The Critical Illness
Insurance Amount may change. For more information,
please refer to the section “Insurance Amounts After a
Benefit is Paid”.
Health
Questionnaire
the detailed questionnaire that must be completed in order
to be considered for the full term on your Line of Credit if
you answer “YES” to any of the health questions on the
Application.
Insurance
Amount(s)
the Life Insurance Amount and/or the Critical Illness
Insurance Amount, as applicable.
Life Insurance includes life and accidental dismemberment coverage.
Life Insurance
Amount(s)
the maximum amount that may be payable as a Life
Insurance benefit. It is equal to the lesser of (i) the credit
limit/plan limit of the Line of Credit, (ii) partial coverage
amount indicated in the letter sent approving you for
coverage, or (iii) $300,000. The Life Insurance Amount may
change. For more information, please refer to the section
“Insurance Amounts After a Benefit is Paid”.
Line(s) of Credit your secured or unsecured TD Canada Trust Line of Credit.
Policy group Policy #G/H.60158 issued by Canada Life to TD
Bank, which provides life and optional Critical Illness
Insurance coverage, and group Policy #G/H.60158AD
issued by Canada Life to TD Bank which provides
accidental dismemberment coverage.
Stroke a cerebrovascular event producing neurological sequelae
lasting more than 30 consecutive days and caused by
thrombosis, hemorrhage or embolism from an extra-
cranial source, and for which there is evidence of
measurable, objective neurological deficit.
Stroke does not include:
• TransientIschemicAttacks
TD Bank The Toronto-Dominion Bank.
TD Canada Trust TD Bank and those of its affiliates that provide
Lines of Credit.
You and your the borrower(s) who is/are insured under the Policy.
We, us and our TD Life for accidental dismemberment coverage, and
Canada Life for all other coverages, as applicable.
This is the end of the Certificate of Insurance.
The pages that follow contain helpful
information about your coverages.
PROTECTION FOR YOUR LINE OF CREDIT LINE OF CREDIT CRITICAL ILLNESS AND LIFE INSURANCE GUIDE AND CERTIFICATE 18
Commonly Asked Questions
About Line of Credit Critical Illness and
Life Insurance
Is This Insurance Mandatory?
Applying for Line of Credit Critical Illness and Life Insurance
is optional. You aren’t required to have this product to obtain
any TD Canada Trust products or services. But remember the
benefits. If you were to die, suffer an accidental dismemberment
or be diagnosed with a covered critical illness without it, would
your family be able to manage your Line of Credit payments?
Can You Sign Up At Any Time?
Yes. As long as the Policy* remains in force and you remain
eligible to apply, there are no time constraints preventing you
from taking advantage of low-cost coverage to protect your
Lines of Credit. Your TD Canada Trust representative will be
pleased to provide you with a Line of Credit Critical Illness and
Life Insurance Application.
What If You Change Your Mind?
Your satisfaction and financial security are important to us.
That’s why we offer a 30-day money-back guarantee. If for
any reason you are dissatisfied with your insurance coverage,
you may cancel your coverage within the first 30 days, your
premiums will be refunded and coverage will be considered
never to have been in force. If a claim is made within the first
30 days, a refund is not provided.
You can cancel your own coverage at any time without the
consent of the other borrowers by phone or by written request.
To Cancel By Phone
You can call TD Life at 1-888-983-7070 and, if we are able to
confirm your identity, you will be able to cancel your coverage.
In that case, your cancellation will be effective as soon as we
complete the call.
To Cancel By Written Request
You can obtain a cancellation form at any TD Canada Trust
branch, or by calling TD Life at 1-888-983-7070. Please send
the form to the address at the back of this booklet. If you cancel
your coverage by written request, we will honour your request
on the date we receive it. We will refund any premiums we may
owe you after your coverage has been cancelled.
.
Why Would Your Premium Fluctuate?
Your monthly premium is calculated based on your age at billing,
average balance, and the number of days in an insurance billing
period. Your age can change at time of billing and the number
of days in an insurance billing period may change from month
to month, so your monthly premium can change even if your
balance stays the same.
Your insurance billing period starts on the last business day of
the previous month and ends on the second last day of the
current month.
Is Your Balance Covered In Full?
There are situations where your insurance coverage is less than
your outstanding debt.
The maximum available coverage is $300,000 on all your
TD Canada Trust Lines of Credit combined.
If your total credit limit or plan limit for all of your insured Lines
of Credit is higher, you may have partial coverage on some of the
Lines of Credit. Also, if you’re not eligible for insurance based on
your health or age, you might be approved for coverage if you
were insured on a previous product. Sometimes, depending on
the amount you were previously insured for, this means that the
maximum benefit under your new Line of Credit is less than the
full credit limit or plan limit.
Also, even if the maximum payable on your Line of Credit is
the full amount of your credit limit or plan limit, in some cases,
benefits can be limited. Limitations can apply if you didn’t have
to provide evidence of good health for your coverage, or if you
suffer related symptoms in the 12 months before you die or are
diagnosed with a covered critical illness.
For more information, please refer to sections “Maximum Life
Insurance Amounts You Can Apply For” and “Maximum Critical
Illness Insurance Amounts You Can Apply For” in this booklet.
Can Your Insurance End Before You Pay Off
The Debt?
There are situations where your coverage may end before you
pay off the balance in full and close your Line of Credit.
For Example: Your insurance will end when you turn
70 years old or if your insurance premiums are in arrears
for more than three months.
For more information, please refer to sections “When Your Life
Insurance Ends” or “When Your Critical Illness Insurance Ends”
in this booklet.
PROTECTION FOR YOUR LINE OF CREDIT LINE OF CREDIT CRITICAL ILLNESS AND LIFE INSURANCE GUIDE AND CERTIFICATE 19
How Is Your Personal Information Treated?
Your right to privacy is important to us. No information is shared
without your written approval. In your Line of Credit Critical
Illness and Life Insurance Application, you’ve agreed to share
information, as described in the attached Privacy Agreement.
We also ask you to authorize TD Life to share any non health-
related information about you with our affiliates so they may
offer you other products and services and maintain a business
relationship with you.
You may withdraw this permission to share information at any
time by contacting TD Life at 1-888-983-7070.
Who Do I Contact For More Information?
For information or questions on your Line of Credit Critical Illness
and Life Insurance, please contact TD Life at 1-888-983-7070.
*Group Policy #G/H.60158 issued by Canada Life to TD Bank, which
provides life and optional Critical Illness Insurance coverage, and group Policy
#G/H.60158AD issued by TD Life to TD Bank which provides accidental
dismemberment coverage.
Privacy Agreement
In this Agreement, the words “you” and “your” mean any
person, or that person’s authorized representative, who has
requested from us, or offered to provide a guarantee for, any
product, service or account offered by us in Canada. The words
“we”, “us” and “our” mean TD Bank Group (“TD”). TD includes
The Toronto Dominion Bank and its world-wide affiliates, which
provide deposit, investment, loan, securities, trust, insurance
and other products or services. The word “Information” means
personal, financial and other details about you that you provide
to us and we obtain from others outside TD, including through
the products and services you use.
You acknowledge, authorize and agree as follows:
Collecting And Using Your Information
At the time you request to begin a relationship with us and
during the course of our relationship, we may collect Information
including:
•detailsaboutyouandyourbackground,including
your name, address, contact information, date of birth,
occupation and other identification
•recordsthatreectyourdealingswithandthroughus
•yourpreferencesandactivities.
This Information may be collected from you and from sources
within or outside TD, including from:
•governmentagenciesandregistries,lawenforcement
authorities and public records
•creditreportingagencies
•othernancialorlendinginstitutions
•organizationswithwhomyoumakearrangements,
other service providers or agents, including payment card
networks
•referencesorotherinformationyouhaveprovided
•personsauthorizedtoactonyourbehalfunderapower
of attorney or other legal authority
•yourinteractionswithus,includinginperson,overthe
phone, at the ATM, on your mobile device or through
email or the Internet
•recordsthatreectyourdealingswithandthroughus.
You authorize the collection of Information from these sources
and, if applicable, you authorize these sources to give us the
Information.
PROTECTION FOR YOUR LINE OF CREDIT LINE OF CREDIT CRITICAL ILLNESS AND LIFE INSURANCE GUIDE AND CERTIFICATE 20
We will limit the collection and use of Information to what we
require in order to serve you as our customer and to administer
our business, including to:
•verifyyouridentity
•evaluateandprocessyourApplication,accounts,
transactions and reports
•provideyouwithongoingserviceandinformationrelated
to the products, accounts and services you hold with us
•analyzeyourneedsandactivitiestohelpusserveyou
better and develop new products and services
•helpprotectyouandusagainstfraudanderror
•helpmanageandassessourrisks,operationsand
relationship with you
•helpuscollectadebtorenforceanobligationowed
to us by you
•complywithapplicablelawsandrequirementsof
regulators, including self-regulatory organizations.
Disclosing Your Information
We may disclose Information, including as follows:
•withyourconsent
•inresponsetoacourtorder,searchwarrantorother
demand or request, which we believe to be valid
•tomeetrequestsforinformationfromregulators,
including self-regulatory organizations of which we are a
member or participant, or to satisfy legal and regulatory
requirements applicable to us
•tosuppliers,agentsandotherorganizationsthatperform
services for you or for us, or on our behalf
•topaymentcardnetworksinordertooperateor
administer the payment card system that supports the
products, services or accounts you have with us (including
for any products or services provided or made available
by the payment card network as part of your product,
services or accounts with us), or for any contests or other
promotions they may make available to you
•onthedeathofajointaccountholderwithrightof
survivorship, we may release any information regarding
the joint account up to the date of death to the estate
representative of the deceased, except in Quebec where
the liquidator is entitled to all account information up to and
after the date of death
•whenwebuyabusinessorsellallorpartofourbusiness
or when considering those transactions
•tohelpuscollectadebtorenforceanobligationowed
to us by you
•wherepermittedbylaw.
Sharing Information Within TD
Within TD we may share Information world-wide, other than
health-related Information, for the following purposes:
•tomanageyourtotalrelationshipwithinTD,including
servicing your accounts and maintaining consistent
Information about you
•tomanageandassessourrisksandoperations,including
to collect a debt owed to us by you
•tocomplywithlegalorregulatoryrequirements.
You may not withdraw your consent for these purposes.
Within TD we may also share Information world-wide, other
than health-related Information, to allow other businesses
within TD to tell you about products and services. In order
to understand how we use your Information for marketing
purposes and how you can withdraw your consent, refer to the
Marketing Purposes section below.
Additional Collections, Uses And Disclosures
Social Insurance Number (SIN) – If requesting products,
accounts or services that may generate interest or other
investment income, we will ask for your SIN for revenue
reporting purposes. This is required by the Income Tax Act
(Canada). If we ask for your SIN for other products or services,
it is your option to provide it. When you provide us with your
SIN, we may also use it as an aid to identify you and to keep
your Information separate from that of other customers with a
similar name, including through the credit granting process.
You may choose not to have us use your SIN as an aid to identify
you with credit reporting agencies.
Credit Reporting Agencies and Other Lenders – For a
credit card, line of credit, loan, mortgage or other credit
facility, merchant services, or a deposit account with overdraft
protection, hold and/or withdrawal or transaction limits, we
will exchange Information and reports about you with credit
reporting agencies and other lenders at the time of and during
the Application process, and on an ongoing basis to review and
verify your creditworthiness, establish credit and hold limits, help
us collect a debt or enforce an obligation owed to us by you,
and/or manage and assess our risks. You may choose not to have
us conduct a credit check in order to assess an Application for
credit. Once you have such a facility or product with us and for a
reasonable period of time afterwards, we may from time to time
disclose your Information to other lenders and credit reporting
agencies requesting such Information, which helps establish your
credit history and supports the credit granting and processing
functions in general. We may obtain Information and reports
about you from Equifax Canada Inc., Trans Union of Canada, Inc.
or any other credit reporting agency. You may access and rectify
any of your personal information contained in their files by
PROTECTION FOR YOUR LINE OF CREDIT LINE OF CREDIT CRITICAL ILLNESS AND LIFE INSURANCE GUIDE AND CERTIFICATE 21
contacting them directly through their respective websites www.
consumer.equifax.ca and www.transunion.ca. Once you have
applied for any credit product with us, you may not withdraw
your consent to this exchange of Information.
Fraud - In order to prevent, detect or suppress financial abuse,
fraud, criminal activity, protect our assets and interests, assist
us with any internal or external investigation into potentially
illegal or suspicious activity or manage, defend or settle any
actual or potential loss in connection with the foregoing, we
may collect from, use and disclose your Information to any
person or organization, fraud prevention agency, regulatory or
government body, the operator of any database or registry used
to check information provided against existing information, or
other insurance companies or financial or lending institutions.
For these purposes, your Information may be pooled with data
belonging to other individuals and subject to data analytics.
Insurance – This section applies if you are applying for,
requesting prescreening for, modifying or making a claim under,
or have included with your product, service or account, an
insurance product that we insure, reinsure, administer or sell.
We may, collect, use, disclose and retain your Information,
including health- related Information. We may collect this
Information from you or any health care professional,
medically-related facility, insurance company, government
agency, organizations who manage public information data
banks, or insurance information bureaus, including MIB Group,
Inc. and the Insurance Bureau of Canada, with knowledge of
your Information.
With regard to life and health insurance, we may also obtain
a personal investigation report prepared in connection with
verifying and/or authenticating the information you provide in
your Application or as part of the claims process.
With regard to home and auto insurance, we may also obtain
Information about you from credit reporting agencies at the
time of, and during the Application process and on an ongoing
basis to verify your creditworthiness, perform a risk analysis and
determine your premium.
We may use your Information to:
•determineyoureligibilityforinsurancecoverage
•administeryourinsuranceandourrelationshipwithyou
•determineyourinsurancepremium
•investigateandadjudicateyourclaims
•helpmanageandassessourrisksandoperations.
We may share your Information with any health-care
professional, medically-related facility, insurance company,
organizations who manage public information data banks, or
insurance information bureaus, including the MIB Group, Inc.
and the Insurance Bureau of Canada, to allow them to properly
answer questions when providing us with Information about
you. We may share lab results about infectious diseases with
appropriate public health authorities.
If we collect your health-related Information for the purposes
described above, it will not be shared within TD, except to the
extent that a TD company insures, reinsures, administers or
sells relevant coverage and the disclosure is required for the
purposes described above. Your Information, including health-
related Information, may be shared with administrators, service
providers, reinsurers and prospective insurers and reinsurers of
our insurance operations, as well as their administrators and
service providers for these purposes.
Marketing Purposes – We may also use your Information for
marketing purposes, including to:
•tellyouaboutotherproductsandservicesthatmaybeof
interest to you, including those offered by other businesses
within TD and third parties we select
•determineyoureligibilitytoparticipateincontests,surveys
or promotions
•conductresearch,analysis,modeling,andsurveysto
assess your satisfaction with us as a customer, and to
develop products and services
•contactyoubytelephone,fax,textmessaging,orother
electronic means and automatic dialing-announcing
device, at the numbers you have provided us, or by ATM,
internet, mail, email and other methods.
With respect to these marketing purposes, you may choose not
to have us:
•contactyouoccasionallyeitherbytelephone,fax,text
message, ATM, internet, mail, email or all of these
methods, with offers that may be of interest to you
•contactyoutoparticipateincustomerresearchand
surveys.
Telephone and Internet discussions – When speaking with one
of our telephone service representatives, internet live chat agents,
or messaging with us through social media, we may monitor and/
or record our discussions for our mutual protection, to enhance
customer service and to confirm our discussions with you.
MORE INFORMATION
This Agreement must be read together with our Privacy Code
which includes our Online Privacy Code and our Mobile Apps
Privacy Code. You acknowledge that the Privacy Code forms part
of the Privacy Agreement. For further details about this Agreement
and our privacy practices, visit www.td.com/privacy or contact us
for a copy.
You acknowledge that we may amend this Agreement and
our Privacy Code from time to time. We will post the revised
PROTECTION FOR YOUR LINE OF CREDIT LINE OF CREDIT CRITICAL ILLNESS AND LIFE INSURANCE GUIDE AND CERTIFICATE 22
Agreement and Privacy Code on our website listed above. We
may also make them available at our branches or other premises
or send them to you by mail. You acknowledge, authorize and
agree to be bound by such amendments.
If you wish to opt-out or withdraw your consent at any time
for any of the opt-out choices described in this Agreement, you
may do so by contacting us at 1-888-983-7070. Please read our
Privacy Code for further details about your opt-out choices.
Protecting Your Personal
Information
At The Canada Life Assurance Company (Canada Life),
we recognize and respect the importance of privacy. When
you apply for coverage, we establish a confidential file that
contains your personal information. This file is kept in the offices
of Canada Life or the offices of an organization authorized
by Canada Life. You may exercise certain rights of access and
rectification with respect to the information in your file by
sending a request in writing to Canada Life’s address listed in this
Application. We limit access to personal information in your file
to Canada Life staff or persons authorized by Canada Life who
require it to perform their duties and to persons to whom you
have granted access. In addition, as personal information may be
collected, used, disclosed or kept in or outside Canada, it may be
subject to disclosure under applicable Canadian or foreign law.
We collect, use and disclose the personal information to process
this Application and, if this Application is approved, provide and
administer the financial product(s) applied for, investigate and
process claims, and create and maintain records concerning our
relationship.
For a copy of our Privacy Guidelines or if you have questions
about our personal information policies and practices (including
with respect to service providers), write to Canada Life’s Chief
Compliance Officer or refer to www.canadalife.com.
Chief Compliance Officer
The Canada Life Assurance Company
330 University Ave
Toronto, ON M5G 1R8
Chief_Compliance_Officer@canadalife.com

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