Understanding the TD Insurance Term Life Quote Tool
If you've been shopping around for a life insurance policy and encountered the TD Term Life Insurance quote tool and aren't quite sure how to proceed, this article might help you navigate our online quote tool. Getting a life insurance quote online with TD Insurance can be quite convenient.
How do I find the Term Life Insurance Quote tool?
To access this tool, you can visit our TD Insurance Term Life page through a search engine (i.e., Google), or if you were to come across an online ad for TD Term Life Insurance, you could access the tool by clicking on one of our ads. If you are already on the TD Insurance website (tdinsurance.com), you can navigate through our Products menu at the top or use the left bar menu on mobile devices. Under the ‘Life’ column within the Products menu, you will find the Term Life Insurance product page.
As you navigate through the quote, you may wonder why we or any other life insurance provider ask questions that may seem personal or intrusive. The questions asked during the process help us compose a more accurate quote.
Answering all the necessary questions in the quote tool correctly helps us determine your eligibility. It also lets us provide you with a suggestion based on the average coverage amount purchased by TD Insurance customers based on similar information provided. You can also use our TD Life Insurance Calculator to determine how much coverage you may need.
Term Life Insurance quote submission process
Now, we can dive into the more exciting part — getting started with a personalized quote! Let's get into it, step by step.
A quick note: The values used through the process are hypothetical, and the result will vary with every individual's input.
Step 1: Enter your date of birth
Why do we need to know it? – Entering your age will save you some time by letting you know upfront whether you're eligible for an insurance policy and helping us calculate your premium. It will also help us suggest an average amount of coverage purchased by TD Insurance customers based on similar information provided.
The TD Insurance Term Life Insurance policy may cost less if you purchase it when you are younger, as the cost is calculated based on your age at the time of application.
Step 2: Enter your sex
Why is this important? For the purpose of calculating your premium, we require your sex assigned at birth, recognizing this may be different from your current gender identity.
Step 3: Tobacco or nicotine use
You'll also have to let us know about your tobacco or nicotine usage over the last 12 months, which would include the use of cigars, cigarettes, e-cigarettes, and vapes.
Why do we ask this? Smoking increases the insurer's risk and affects the life insurance premium charged because smoking impacts your life expectancy. If you are a smoker or use products containing nicotine, you can expect to pay higher rates.
Step 4: Available discount on premiums
Everybody loves a good discount, and at TD Insurance, we take care of our customers with available discounts.1 To get the discount, simply choose any of the options that may apply to you.
Step 5: Select your province or territory of residence
We're almost at the end of the process to obtain your quote. The final step involves choosing your province of residence, as the calculations for the quote may vary accordingly. If you're residing in Quebec, the process to get a quote and apply for a policy is slightly different and requires you to begin with the TD Life Insurance calculator to help estimate how much coverage you need and then get a premium quote.
Now, you'll just have to click on the 'See my price' button that appears below for a personalized life insurance quote. And, voila! You'll see the average coverage amount purchased by TD Insurance customers based on similar information provided. You can adjust the coverage amount by sliding to the left or right, or you can manually enter any coverage amount based on your needs, subject to the coverage limits.
At this point, your screen should look something like this.
Please note: The values in the image are just placeholders and will vary with the inputs provided.
You'll notice on the right that there are options to select your term length. From the options and information on this page, you could make any desired changes and updates, like:
- You can choose between TD 10-year Term, TD 20-year Term, or TD Term 100 depending on your age eligibility, future goals, and requirements.
- You can edit and update your details.
- You can also adjust the coverage amount by sliding to the left or right or manually entering a coverage amount between the minimum of $50,000 and the maximum of $10,000,000 (If you're aged between 60 and 70, the minimum for Term 100 is $25,000). Not sure how much coverage you need? Use the TD Life Insurance Calculator to help you.
- Feel like you're ready to move forward? Once you've finalized the coverage amount, you can proceed to the application by clicking on the 'Apply now' button.
From the hypothetical responses we've entered, the average coverage amount purchased by a non-smoking female for a TD 20-Year Term Life Insurance policy, living in Ontario, aged 30 years, rounded to the nearest whole number, is $575,000. The premium estimate is $29 per month, or $26.10 if we apply an eligible discount.
You've now successfully estimated the price of life insurance coverage you might need. You could recommend this tool to your friends and family in case they too need a life insurance plan.
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TD Term Life Insurance is an individual life insurance plan underwritten by TD Life Insurance Company.
The quote is an estimate based on the information you provide. Your actual premium may change when we assess your individual circumstances based on the information collected during the application process.
1 Discounts are available to eligible applicants who apply for a new TD 10-Year or 20-Year Term Life Insurance policy. Offers cannot be combined with any other offers and is subject to change or may be withdrawn at any time.
Individual circumstances may vary. You may wish to contact the licensed insurer's representative, or a licensed insurance agent, if you need advice about your insurance needs.