TD Bank Travel Insurance Review 2024 (2024)

Toronto-Dominion Bank, or TD Bank, is one of the Big Six banks of Canada. The travel insurance policy offerings by TD Bank are stripped down versions of the more comprehensive insurance offered by TD Insurance. The travel insurance offered by TD Bank is only available to clients of the bank.

TD Travel Medical Insurance is underwritten by TD Life Insurance Company. TD Trip Cancellation and Trip Interruption Insurance is underwritten by TD Life Insurance Company (medical covered causes) and TD Home and Auto Insurance Company (non-medical covered causes).

Here are the key types of travel insurance coverage offered by TD Bank:

• Emergency medical insurance: If you get ill or are injured on your trip, travel medical insurance can pay for emergency medical expenses, up to the coverage limits in your plan. These expenses can include doctor and hospital bills, medication and lab work.
• Trip cancellation insurance: If you cancel a trip for a reason listed in your travel policy before departure, trip cancellation insurance can reimburse you for prepaid, non-refundable costs. Some of the covered causes include if you or your travelling companion gets sick, your airline goes on strike or you lose your job.
• Travel interruption insurance: Trip interruption insurance, which kicks in after you leave home, can pay for a last-minute flight home in an emergency and money that you lose by cutting a trip short, such as non-refundable activities and hotel stays. It may also cover expenses if your return is delayed to a medical emergency or if your flight is cancelled due to weather, an accident or your plane’s mechanical failure.

TD Bank offers two insurance plans for trips outside of Canada: Travel Medical insurance and Trip Cancellation and Trip Interruption insurance. You can select single coverage, couple coverage (if you are under age 65) and family coverage.

Travel Medical: This coverage offers financial protection if you are injured or become ill while travelling outside of Canada.

Emergency medical treatment includes:

• Hospital accommodation
• Physicians’ fees
• Private duty nursing up to $5,000
• Diagnostic services (if approved in advance) including MRI, CAT scan, sonogram, ultrasound or any invasive diagnostic procedures, including angioplasty
• Ambulance (ground and air)
• Professional fees for treatment by a chiropractor, physiotherapist, chiropodist, podiatrist, osteopath. (up to $300 per profession)
• Medical appliances including casts, splints, trusses, braces, crutches or the rental of a wheelchair
• Prescription drugs
• Emergency dental treatment due to a blow to the face (up to $2,000)
• Emergency dental treatment due to illness, excluding roots canals or damage to dentures (maximum $200)
• Hospital allowance for long distance calls, TV rental when hospitalized for at least 48 hours (up to $50 per day to a maximum of $500)

Trip Cancellation and Trip Interruption: Trip cancellation offers financial protection if unexpected events happen before you leave on your trip and you have to cancel your plans. Trip interruption kicks in once you’re on your trip and covers interruptions due to medical emergencies, a change in travel advisories or delays in return due to weather or cancelled flights due to mechanical issues, for example.

Related: Should You Buy Travel Insurance And Is It Worth It?

We’ve highlighted key benefits of TD Bank travel insurance to help you identify which plan is the best fit for you. You can select one or both coverage options.

The price of a TD Bank travel insurance plan depends on factors such as the cost of your trip, your age and the amount of coverage you choose.

Here are some examples of the cost for TD Bank travel insurance single trip plans for healthy travellers based in Ontario.

AMA Travel Insurance

Emergency medical: $5 million
Cancel For Any Reason: Yes, 50% within three hours
Baggage insurance (maximum): $1,500

Related: AMA Travel Insurance Review

Manulife Financial

Emergency medical: $10 million
Cancel For Any Reason: No
Baggage insurance (maximum): $1,000

Related: Manulife Financial CoverMe Travel Insurance Review

Blue Cross

Emergency medical: $5 million
Cancel For Any Reason: No
Baggage insurance (maximum): $1,500

Related: Blue Cross Travel Insurance Review

Yes. You can save money by buying multi-trip insurance if you travel more than once a year for multiple individual trips. TD Bank’s Annual Plan offers emergency medical coverage for trips of nine, 17, 30 or 60 days. Trip Cancellation and Trip Interruption must be purchased separately.

Here’s how the prices between single trip and multi-trip insurance compare:

Emergency assistance is available 24/7, 365 days of the year via TD Bank’s partner Global Excel Management. When you call you’ll need to provide your name, policy number, your location and the nature of your emergency.

If you don’t contact Global Excel before receiving medical treatment, you may be limited to reimbursem*nt of 80% of eligible medical expenses, to a maximum of $30,000.

TD Bank travel insurance will not pay for expenses that arise from a pre-existing medical condition that is not stable at the time you leave for your trip. For a condition to be considered stable, all of the following conditions must be met:

1. There has not been any new treatment prescribed or recommended, or changes to any existing treatment (including a stoppage in treatment).
2. There has not been any change to any existing prescribed drug (including an increase, decrease or stoppage to the dosage) or any recommendation of starting a new prescription drug.
3. The condition has not become worse.
4. There have not been any new, more frequent for more severe symptoms.
5. There has been no hospitalization or referral to a specialist.
6. There have not been any tests, investigation or treatment recommended but not yet completed, nor any outstanding test results.
7. There is no planned or pending treatment.

The time period within which your medical condition must be stable depends on your age. For example:

For travellers under age 59 and travellers age 60 to 64 for a covered trip of 29 days or less, TD Bank will not pay any claims due to your medical condition or related condition (whether a diagnosis has been made) that is not stable in the 90 days before your departure date.

For travellers aged 60 to 64 for a covered trip of 30 days or longer, your condition must be stable for 90 days before your departure date, and you will be assigned to either rate category A or B and charged a higher premium.

For travellers aged 65 and older for all covered trip durations, your condition must be stable for 180 days before your departure date, and you will be assigned to either rate category C, D or E and charged a higher premium.

There are a number of scenarios not covered by travel insurance and it’s critical to know what not to do before you make a claim only to be told you’re on the hook for all associated costs. The following are some of the most common issues not covered by TD Bank travel insurance:

• A claim against a pre-existing medical condition that is not stable
• Non-compliance to prescribed medical treatment
• Abuse of alcohol, drugs or intoxicants
• Sports and high-risk activities, including scuba diving outside the limits of your certification, parasailing and any extreme sport or activity involving a high level of risk, including bungee jumping, cave exploration or skydiving
• A child born during the covered trip
• Claims related to pregnancy, delivery or complications of either
• Intentional self-inflicted injury
• A claim related to an illegal act
• Any loss resulting from an act of terrorism, war or civil unrest
• Travelling against medical advice or not following medical advice in regards to treatment
• A travel visa not issued in time due to a late application
• Non-emergency, experimental or elective treatment, including cosmetic surgery, chronic care and rehabilitation

Travellers over the age of 65 must complete a health questionnaire. If you respond yes to certain conditions or situations, you will be considered ineligible for any coverage under a policy with TD Bank. Some of those conditions include:

• You have been diagnosed with a terminal illness or metastic cancer.
• You have been advised by a physician not to travel.
• You require ongoing dialysis.
• Over 10 years ago you had surgery for heart bypass, valve replacement or angioplasty
• In the last 12 months you’ve been hospitalized for a heart condition or been prescribed oxygen for a lung condition.
• In the last six months you’ve had a stroke or transient ischemic attack.
• You require assistance with activities of daily living (bathing, toileting, etc.).

In addition, you can apply for this coverage if you:

• Are at least 18 years old on the effective date of your coverage
• Are a resident of Canada
• Are a TD Bank Group customer or the spouse or dependent child of a TD Bank Group customer
• Are in Canada when you buy the coverage
• Purchase coverage for the full duration of your trip

For medical coverage, you also need to be:

• Under 60 years old and purchasing coverage within 240 days before your effective date
• Are covered under a valid provincial or territorial health care plan

You can submit a claim online via the TD Bank travel insurance website. There you can start your claim, upload your required documents and track your claim status.

You will also need to provide documentation to substantiate your claim, such as:

• Original itemized receipts from all bills and invoices
• Proof of travel
• Medical records included complete diagnosis by the attending physician or documentation by the hospital that the treatment was medically necessary
• Proof of the accident if you are submitting a claim for dental expenses
• Your historical medical records
• Written evidence of the covered caused of cancellation, interruption or delay
• Original unused travel tickets and vouchers

You must report your claim and provide supporting documentation no later than one year after the date of the incident to be eligible for reimbursem*nt.