Why TD mortgage life insurance is so expensive!

Let’s start of and make a few points.

If you leave the TD Bank ….your coverage is gone!
If you pay off your mortgage…your coverage is gone!
If you sell your house … your coverage is gone!

What about price?

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If two or more borrowers are insured with Life Insurance, a 25% discount will apply to the sum of the total Mortgage Life Insurance premiums.

For example, if you are 34 years old and your spouse is 36, and you are applying for a $100,000 mortgage, your monthly insurance cost would be:

Cost
for You: Cost
for Spouse: Your mortgage amount:
($0.14 + $0.21) X $100,000
1,000
= $35.00 less 25% discount = $26.25 per month† From TD web site

You can get DOUBLE the coverage for the same price! If you own your own policy!

https://www.rightinsurance.ca/life.html