term life


Date, History, Activities and Facts

  • May 4, 2023

National Life Insurance Day 2023: National Life Insurance Day occurs annually on May 2. It commemorates the first day that life insurance was made available in the United States. This day honours life insurance and serves as a reminder of its benefits. Life insurance is important because it can prevent us from falling into debt, pre-fund a child’s college education, give surviving family members the opportunity to start over, and keep a business afloat for a time if a family member who owned a business passes away. Life insurance enables you to establish an emergency fund and seek out high-quality investment opportunities in order to build wealth and provide for your family. It provides future security.

National Life Insurance History Day

The earliest-known life insurance policy was purchased on June 18, 1583, at the Royal Exchange in London. A William Gybbons was insured by Richard Martin, who paid 13 merchants 30 pounds in exchange for 400 pounds if the insured perished within a year. William Talbot and Sir Thomas Allen founded the Amicable Society for a Perpetual Assurance Office in London in 1706 as the first company to offer insurance in modern times. Each member made an annual payment per share on one to three sales, depending on their age between 12 and 55. A portion of the ‘amicable contribution’ was distributed to the spouses and children of deceased members at the end of the year in proportion to the number of shares the heirs owned.

In the United States, the sale of life insurance began in the 1760s. On May 2, 1759, the Presbyterian Synods of Philadelphia and New York City recorded the charter for the Corporation For Relief of Poor and Distressed Widows and Children of Presbyterian Ministers, which was America’s first life insurance company. Presbyterians established

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Adulting 101: some basic facts about life insurance

  • August 22, 2022

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If you’ve never thought much about term life insurance, it’s a good idea to know what it is and how it can benefit you as you grow older or your life changes.

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“If you drive a car, the law says you need to buy insurance, so you generally tend to learn about car insurance when you start driving,” says Chinyere Ezemenari, senior manager, direct life and health, TD Insurance. “But the whole idea of ​​buying term life insurance may be new to you at this point. There’s really no such thing as a bad question — including whether you need life insurance at all at this stage of your life. It’s all up to you. With TD Insurance you have access to online information and licensed life insurance agents to handle your questions.”

What is term life insurance?

Life insurance is a financial product that can pay out a lump sum amount to your estate or a tax-free lump sum amount to your designated beneficiary if you pass away.

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Do I have to be a Canadian resident to apply?

Eligibility requirements may vary depending on the insurance company. At TD Insurance, yes you do. That means you’re legally entitled to reside in Canada for at least the next year and you’ve been a

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