TD Insurance Life Insurance Reviews

TD Life Insurance company is the sketchiest thing ever. They stopped billing me for my 20-year policy, didn’t tell me why as my CC was still valid, and didn’t notify me. They claim they won’t email the customer about missed payments due to security, and they don’t have an online portal to manage life insurance. I updated my address online when I moved using my TD insurance portal, but it only applied to auto and home, not life insurance, so naturally any snail mail they are legally required to send about a missed payment gets sent to my old address. And they said they can’t provide any online way to manage your life insurance for security reasons, even though anyone can manage their banking, mortgage, home, and auto insurance online with TD. Basically they’ve designed the system to maximize the odds you will lapse on your payment and have your policy cancelled so that they can sign you up for a new policy now that you’re older, which will cost a ton more. In other words policy is most profitable to them early on in the term, and become less profitable as the term progresses and you age. There should be a class action lawsuit to address this.

We realized that TD Insurance had been dipping into our TD bank account to "service" a policy they claimed we'd bought. Even though they could not produce our authorization for access to our bank account, nor paperwork to show we'd purchased a policy with them, they were adamant that we'd bought it. They claimed they did all their business over the phone, hence no paperwork. The scary thing was they had our dates of birth, our TD bank account number, our address, phone number, etc. even though we had never done business with TD Insurance. Our confidential bank information was obviously accessible to them. After 5 months of telephone back-and-forth, and going up the ladder through managers of different departments within TD Insurance and up to their Ombudsperson, I finally got a cheque for the amount stolen plus interest, but no apology, no damages for the theft nor for my time in getting this matter redressed. My email to the Vice-President of TD Insurance was merely sluffed off to an underling and it looped back to the managers I'd dealt with who merely responded that they were familiar with the case! So my experience has been thatTD Insurance, from top to bottom, is in the business of scamming. I'm shying away from TD Bank as well if customers' personal information in traded to other companies.