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How does Life Insurance work?
In general, term life insurance provides coverage on a person’s life for a specified period of time. When purchasing term life insurance, the amount you pay for the insurance is usually fixed for the length of the term specified in the policy.
The life insurance policy will pay a specified amount of money to your estate or the person chosen in the application, called the beneficiary, in the event of your death. In the application, a coverage amount is selected by the policy owner, who pays a cost (known as a premium) to the insurance company.
- Explore and learn more about your options with TD Life Insurance
- Estimate how much life insurance you may need
- Get a quote in less than 60 seconds and apply in as little as 10 minutes
- Visit the Term Life Insurance quote tool
Please note that the answers to the questions are for information purposes only and do not constitute a legal opinion on the various types of coverage discussed. Individual circumstances may affect your coverage. In case of discrepancy between the answers contained herein and your policy, the policy prevails.