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TD Insurance State of Insurance Report QC

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					     Quebecers think honesty is the best policy when it
                   comes to insurance
 - Part one of theTD Insurance 2011 State of Insurance Report also reveals Quebecers are least
                 likely to take the time to properly read their insurance policies -


April 27, 2011 (Montreal, QC) – Quebecers are the most likely in the country to think honesty is the best
policy when it comes to insurance, according to a report release by TD Insurance today. The majority of
Quebecers (87%) say they always tell the truth when filling out an insurance application, but 9% admit
they have purposely lied or omitted important facts when filling out an insurance application.

“Our poll uncovered some really eye-opening information. Whether intentional or not, failing to
disclose important information to your insurance provider can put your insurance coverage at risk,” says
TD Insurance Vice President and Chief Underwriter Henry Blumenthal. “It’s great to see Quebecers
recognize the value of investing in insurance, but it’s very important to be honest about your needs and
personal circumstances so that your insurer can recommend the best policy for you. At the end of the
day, insurance should give you peace of mind. If you feel uncertain or have questions, it’s always best to
check with your insurer.”

Interestingly, the majority of Quebecers (82%) say they are confident they know what their insurance
policies actually cover, but they are also the most likely in the country to admit they don’t read the fine
print on their insurance policies (40%). As one might expect, Quebecers who only file away their policy
are more likely to say they’re not sure of everything they’re covered for (33%) and conversely, those
who reviewed the details are more likely to say they know exactly what is included (33%).

“While it’s unrealistic to know your policy line by line, the basics of your coverage shouldn’t be a
mystery,” says Blumenthal. “Just like you wouldn’t buy a car without knowing what features you paid
for, it’s important to understand what’s covered by your insurance. It can save you from costly
headaches in the event that something unexpected happens.” TD Insurance goes through coverage
options and policy details with customers when they purchase or modify their policy and this
information is also outlined in the certificate of insurance that comes with the policy. “It’s also worth
taking a few minutes when you receive your policy to review it again to make sure that you understand
everything. Knowing what your insurance covers not only gives you peace of mind, it can help you to
better understand how to take care of your home and avoid problems altogether,” adds Blumenthal.

When it comes to learning the outcome of their claim, the report also found that Quebecers who know
what they are covered for (58%) are more likely to say they were not surprised by anything unexpected.

These results are from part one of a two part series called the TD Insurance 2011 State of Insurance
Report, which was commissioned by TD Insurance to identify Canadians’ understanding of, and attitudes
towards insurance. Part two, which will delve into Canadians’ habits and knowledge of specific insurance
products will be released in the third quarter of 2011.

Do Quebecers have enough insurance?

Quebecers are the most likely in the country to think they have the right amount of insurance (84%), but
one-in-ten (12%) worry they don’t have enough or aren’t sure if they have too much or too little.

“It’s always best to call your insurer if you have questions about your coverage,” says Blumenthal.
“Insurance needs change over time and if you haven’t looked at your coverage recently, it might be time
to revisit your policy to make sure it reflects your needs. This is especially important after certain key
milestones like buying a house or starting a family. Insurance shouldn’t be something that you think
about once and then tuck away in a drawer.”

TD Insurance also has an online calculator to help customers learn about how much life insurance
coverage they need. “It’s a great first step towards gaining a better understanding of insurance and it
only takes a few minutes,” adds Blumenthal. Only 13% of Quebecers surveyed have ever used an online
calculator to determine their insurance needs. Canadians who aren’t sure if they have the right amount
of coverage are more likely to say that they have not used an online insurance calculator (87%).

About the TD Insurance 2011 State of Insurance Report

TD Insurance commissioned Environics Research Group to conduct a custom online survey of 1,000
Canadian adults, including 230 Quebecers. Results were collected between March 5 – 13th, 2011.

About TD Insurance

TD Bank Group's insurance companies and operations carry on business under the TD Insurance brand.
TD Insurance offers a wide range of products to help protect clients from the 'accidents of life' including
credit protection, life, health, travel, home and auto insurance. With more than three million clients, TD
Insurance authorized products and services are available through a network of more than 1,000 TD
Canada Trust branches, the Internet and telephone. The TD Insurance brands include TD Insurance
Credit Protection and TD Insurance Life and Health, which are the number one provider of critical illness
insurance and direct life and health premium origination in Canada. And through its TD Insurance
Meloche Monnex and TD Insurance Home and Auto brands, TD Insurance is the largest direct-response
insurance group in the country. For more information, visit www.tdinsurance.com.

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For further information:

Steven Ross/ Mathieu Beaudoin
Morin Public Relations
(514) 289-8688, extension 236/ 225
steven@morinrp.com / mathieu@morinrp.com

Fiona Hirst
TD Bank Group
(514) 289-1670
fiona.hirst@td.com

				
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