TD Insurance Denied your Claim?
Many Canadians either opt into a personal TD Insurance program, or have coverage from a TD Insurance Group Benefits. Organizations that opt in for TD Insurance are rewarded with:
- a cost-free addition to their benefits program
- a hands-off approach and minimal effort on part of administration
- a dedicated Relationship Manager
- “Confidentiality for policyholder”, meaning that those employees who have been offered this benefit will only deal with TD’s team of Advisers, leaving little work or care to the organization’s HR
- a high degree of personalized marketing material to promote the program, which allows administration little input or supervision
TD Insurance in Ontario
According to TD’s website, Ontario Accident Benefits, for Car Insurance, provides the following coverage:
- Medical, Rehabilitation, and Accident Care Benefits: for non-catastrophic injuries
- Medical, Rehabilitation, and Accident Care Benefits: for catastrophic injuries
- Caregiver Benefit
- Housekeeping and Home Maintenance expenses
- Income Replacement Benefit
- Dependant Care Benefit
- Death & Funeral Benefits
TD Disability Insurance Coverage
They do not cover Indexation benefit, which is applicable to income replacement benefit, non-earner benefit, caregiver benefit, attendant care benefit or medical and rehabilitation benefit. This is annually adjusted according to the Consumer Price Index (CPI) for Canada. You should be aware that they provide several choices to customize your deductibles, which is the portion of the loss that you are required to pay before coverage. It is important that you understand your entire insurance policy, its full financing structure, and your ability to customize your plan to your individual needs and security. You want to be able to have the maximum relief when purchasing your TD disability insurance, or agreeing to a benefit plan provided by your employer.
Car Accidents: a TD Insurance Claim
It is pivotal that you keep your insurance current, and are up to date on any changes that may occur as a result of yearly CPI changes. If you miss, typically more than two months of payment, your insurance policy most likely will be cancelled. This means you will be suddenly uninsured. Remember, you need to have auto insurance to drive a car in Canada. If you are not insured, you are at fault, no matter what the situation is. You don’t want to dig a hole for yourself.
Submitting a Claim: TD Insurance Denied in Ontario
Unfortunately, many people who submit claims with TD Disability Insurance are also part of the group of many people who are met with a TD insurance denied claim. According to several TD insurance claims reviews, appealing a claim, let alone getting a quote is rather difficult. They have been deemed to have very poor customer service and many customers are having to face sudden hikes in prices. But what happens when you do have a catastrophic event occur and you are met with poor customer service, and flat out denied claim? The outcome is not something we support, nor should it be something that we want any of our clients to face.
According to the Globe and Mail, this failure on TD has caused a downfall in the company. In March 2017, only a year ago, the Globe reported that:
[TD Bank] is setting aside $292-million in after-tax reserves to help protect its property and casualty business, highlighting trouble the unit has experienced in account for an increase in litigation and claims…
In the article they outline that Ontario auto-loss ratios, which refer to the amounts paid out by the customer plus expenses, is 90% for TD. This is 44% higher than some of its competitors, and yet they are getting away with it.
Medical Specialists & Evaluations
Furthermore, TD has gained a bad reputation by being part of a group of insurance companies that hire medical specialists to asses accident victims during Independent Medical Evaluations, and then copy edit the medical reports so that they read in favour of the insurer, ultimately leading to a TD Insurance claim being denied. This is what is known as a claim being denied in bad faith – this is illegal. This is also why it is very important to gather as much medical evidence, on your own accord, and more easily in collaboration with a denied claim lawyer who can help insure the validity of your TD insurance being denied in Ontario.
Contact a Long Term Disability Lawyer in Toronto
If you are in a car accident and TD insurance denied your claim, we highly suggest contacting a Toronto lawyer who is well versed with dealing with TD insurance.
Many doctors are making a large amount of money by working with insurance companies and providing their services for injury assessments that ultimately benefit only the insurers. Sadly we live in a world where those who take an oath to provide care, are caring more for their pocket than the state of those suffering from a disability claim being denied.
