12/18/2023 0 Comments Rbc home protector bookletTD Mortgage Protection offers a multi-insured discount. Your premium rate will not increase during the life of your mortgage, provided your mortgage balance does not increase or you don’t refinance your mortgage. Your insurance premium is based on your selected coverage type, your age at application and the amount of your mortgage balance at the time of application, less any applicable discounts or premium rate reductions. To learn more about coverage including benefits, conditions and restrictions, refer to the Certificate of Insurance & Important Documents above. NOTE: A benefit will only be paid if the mortgage is fully advanced under the insured person’s name. A written decision regarding your coverage approval status will be mailed to you. Typically, the average wait time to be contacted is within 2–3 business days. If further health information is needed, you’ll be contacted by phone to complete a health interview. If you answer “Yes” to any of the health questions on the application or the total requested coverage, including any existing coverage, is greater than $500,000, you will need to complete a separate health questionnaire. You answer “No” to all health questions on the application and.The amount of total requested coverage, including any existing coverage, is $500,000 or lessįor Critical Illness Insurance, coverage starts on the date you apply for coverage if:.You answer “No” to health questions 1–4 on the application and.The date you are notified in writing that your coverage is approved.įor Life Insurance, coverage starts on the date you apply for coverage if:.The date you apply for coverage (see below for further information) or.The mortgage approval date of the mortgage that later funds or.Coverage starts on the latest of the following dates:
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