TD calculator
TD Life Insurance Calculator Canada
TD Mortgage Protection is optional creditor insurance tied to your TD mortgage balance. Run the numbers before you compare it with personally owned term life.
What this TD calculator is comparing
TD describes Mortgage Protection as optional insurance that can pay toward the outstanding balance on a TD mortgage after an approved death, covered terminal illness, accidental dismemberment, or covered critical illness claim. Its published sample premiums also show the price depends on coverage type, age, and mortgage balance.
The Financial Consumer Agency of Canada says optional mortgage life insurance may pay the mortgage balance to the lender, the lender is the beneficiary, and the death benefit usually decreases as the mortgage is paid down. FCAC also says term or permanent life insurance can keep the death benefit level and pay your named beneficiary directly.
That is the real decision. Do you want insurance built around TD's remaining loan balance, or coverage your family controls even if you refinance, renew elsewhere, or need cash for more than the mortgage?
Free estimate
Calculate TD Mortgage Protection vs term life
TD Bank is preselected. Adjust age, balance, smoking status, province, and years remaining to see the side-by-side estimate.
How to use the result safely
1. Compare payout control
If TD receives the approved benefit, your family gets mortgage relief but not a flexible cash benefit.
2. Check your certificate
Confirm exclusions, maximums, coverage percentage, review period, and what happens if the mortgage changes.
3. Avoid a coverage gap
Keep existing coverage active until any replacement term life policy is approved and in force.
Sources checked: TD Mortgage Protection and Financial Consumer Agency of Canada optional mortgage insurance guidance. This page is educational, not personalized insurance advice.