TD Insurance Life Insurance Reviews

Had a 10-year plan and converted to 20 with becoming a non-smoker for value. Pay Annually, but there were months left on my old plan. They signed me up for a new plan, taking the money upfront, and cancelled my old 10-year plan. Almost 2 months later and several phones calls, I have not been refunded my old balance on my old plan. Every time I ring, I get a different customer service agent, they don't update the account after a call so every time we go through the whole exercise only to be told the money will be in your account soon, and they will call to confirm, and they never do, like they are trying to get me off the phone.

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.

This is not a policy that most people will be able to carry forward into their senior years with its associated lower income potential. My payments started at $34.00/month but by year 10 of my term, I was paying $166/monthly. To continue the policy my monthly payments would start at $338. I have to wonder what kind of increase would be on that amount after another 10 years. The policy payout would have been $250,000.
This is about this before you take a term life insurance policy. It will most likely be unaffordable in the period of your life you most desire the assurance.
It feels like people like myself are funding the payouts for those who can afford the monthly premiums till the policy pays out..

I had Life Insurance with TD for 8 years, and I always paid my premiums on time. Never had an issue. I was then told if I would renew my policy before expiry (which would have been 2023) I would pay a lesser premium. So, I went ahead and did that. My medical was done, and all was well. The policy was approved, but nobody from TD contacted me to advise me that it was approved. Then I received a letter saying my policy was cancelled and the premium deducted from my account. Did not get an answer as to why and a series of mistakes were made with renewing my policy. Not impressed. Thank you TD for all your help in not being able to process this policy for me. Baffles the mind. Can't understand how TD can treat a long-term customer like this.

I looked into 100,000 of life insurance and seen a link about applying for 500,000 so I clicked it and applied and after filling out the forms it said basically thanks for signing up for 100,000 and we will contact you soon. That’s not what I signed up for!

They take over 6 weeks to review the policy application, so for that time you are without insurance and waiting for the underwriters to review it. The sales people assure you that you won't need a medical, that the process is simple etc. They are lying. They don't tell you that it will take at least 6 weeks and they don't tell you that invasive medicals are required. I don't enjoy getting more bloodwork and other samples done repeatedly. I do that enough at my Doctor. They are not easy to deal with and every time you call it's a long wait. The policy is also not active until they approve it. I called to switch my life insurance providers and wanted my new policy active by the time my old one ran out, but they took so long I was without life insurance for several weeks. Not fun when you have kids that depend on you and you get worried to even drive somewhere without life insurance. Horrible service. Way too slow.

Really zero but makes u choose. If your parents or siblings have cancer before age of 60 you don’t qualify disability nor life insurance but they don’t ask these when first applying for insurance. Plus they will continue to take your payments without letting you know until you have an issue; then you find out your not covered even if you are paying on the insurance.
The request forms only ask for past 24 months but they go far back into your health records to find any reason to disqualify you very evasive.
Again ask what disqualifies you before paying for this insurance as they won’t tell you up front and take your payments anyway. They don’t care.

I requested a replacement Insurance with TD Life Insurance and found the experience very painful.
It was very difficult to get answers or in touch with the right personnel once the application was done.
After three months I was told by their underwriting department that they do NOT have COVERAGE for anyone who had CANCER that had spread.
Example: They will NOT insure a person who had STAGE 3 Cancer even if they survived for 20 years.
They did not request this information in the application, as they only asked if you had the disease and with an affirmed answer they went on the do Blood and Urine test.
After 3 months they requested a report of medical history from family doctor and based on the Stage 3 Cancer 20 years ago they declined the application.
They had no reason the take blood or Urine samples and other confidential information if they had a Policy not to Insure CANCER SURVIVORS with stage 3.
I am very distressed by the entire process and will hope to protect My Entire Family Of CANCER SURVIVORS, please Avoid TD Life Insurance.

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.