About Desjardins Life Insurance
AssurancesDesjardins Group, a flagship of the Quebec economy, is an integral part of Quebec's history. By diversifying its expertise and developing its services over the last century, Desjardins has grown along with Quebec.
Today, it's one of the largest financial groups in Canada, and has always remained true to its founder's philosophy: to contribute to the well-being of individuals and communities. In addition to offering benefits and discounts to its members, they benefit from advice tailored to their financial reality. Founded in Lévis, Desjardins is the largest financial group in North America and has been part of the Québec landscape for more than 100 years.
A few years after its founding, Alphonse Desjardins travelled to the United States where he helped set up the first caisse populaire in the United States, St. Mary's Bank Credit Union, located in New Hampshire. In 1912, about ten years after its founding, Desjardins founded its first caisse populaire in Ontario. Since then, Desjardins has continued to expand by diversifying its activities and acquiring various companies.
The mission of Desjardins
While respecting the limits compatible with its field of action, Desjardins aims to contribute to the social and economic health of individuals and communities:
- By developing an integrated cooperative network of secure and profitable financial services, on a permanent basis, owned and administered by members, and a network of complementary financial companies with competitive returns and controlled by them.
- By educating its members, officers and employees about democracy, the economy, solidarity and individual and collective responsibility.
As a cooperative financial group, Desjardins has identified the values that guide its decisions and the actions of the people who work for it.
- Money at the service of human development
Desjardins considers money to be a lever that promotes the autonomy and development of individuals and communities. To guide its actions, Desjardins Group puts the interests of its members and clients first.
- Personal commitment
Since a cooperative is based on the personal commitment of those who participate in it, individuals who choose Desjardins contribute to the development of their cooperative and the group.
- Democratic action
At Desjardins, power is exercised democratically, which means that members have the opportunity to participate in decisions by voting.Integrity and rigourBecause managing the money and assets of its members and clients is an important responsibility, Desjardins strives to be honest, objective, competent and transparent with its members and clients.
- Solidarity with the community
Desjardins aims to take an active part in the social and economic development of communities, positioning itself as a player for sustainable prosperity.
As Desjardins is a cooperative financial group, pooling their resources is an essential condition for meeting the needs of their members and clients as well as possible.
Life insurance products at Desjardins
There are many life insurance products on the market and it is not easy to find one's way around them.
The basic principle is simple. The basic principle is simple. The choice of insurance coverage depends on your family and professional situation, your age and general health.
At Desjardins, several life insurance products are available. In addition to classics such as term and permanent life insurance, we also offer universal life insurance, participating life insurance and life insurance for people age 50 and over.
Term Life Insurance
The most affordable and flexible coverage offered by Desjardins, this term insurance offers you a fixed and guaranteed cost for the duration of your coverage. Whether you are a young worker, parent of young children or business owner, this insurance product adapts to your needs.
As is usual with life insurance, your beneficiaries will receive a tax-free amount in the event of your death. In addition, Desjardins offers you the option of converting your term insurance policy into permanent insurance without having to provide medical results to prove your health.
You can be insured until age 65 or 85.
You can choose coverage for 10, 20 or 30 years, or until you turn 65.
If you wish, you can add certain endorsements to your policy.
- Accident: Protects you and your children in the event of an accident.
- Disability: Your premiums will be paid for up to 5 months in the event that you can no longer work due to disability.
- Dual: This coverage can be chosen jointly.
Permanent Life Insurance
The most economical coverage over the long term, this insurance offers you a wide range of options.
Whether you're a parent, want to leave an inheritance to your beneficiaries, or own a business, permanent insurance coverage may be the right choice for you.
With this insurance policy, you have the opportunity to recoup a portion of your investment in the event you reduce or terminate your coverage, and you can insure your children before they are born to ensure they have life insurance coverage regardless of their health.
Participating Life Insurance
Participating Life Insurance is permanent, guaranteed-cost life insurance that offers you participating options. It lasts for your lifetime and you pay for this coverage in increments of 20 years or until you turn 100.
Divided into two parts, your participating life insurance includes values:
- Guaranteed: cash values, cost and amount of life insurance.
- Unguaranteed: the potential for gain is higher, but so is the risk.
With your participating life insurance policy, a portion of the premiums you pay is used as an investment. With your participating life insurance policy, a portion of the premiums you pay is used as an investment. Thanks to this investment, your life insurance protection allows you to:
- Optimize your wealth by accumulating tax-free funds over the medium or long term.
- Increase or withdraw the accumulated amount according to your situation.
This life insurance offers you an investment strategy that diversifies your investments in complete security. Thanks to Desjardins Group's recognized asset management experts, choose from among the five options available to you to use the money you accumulate with your dividends:
- Accumulate the money on deposit.
- Get cash back.
- Reduce the cost of your premiums.
- Increase the amount of your insurance coverage.
- Free up your insurance before it expires.
With this amount, you could provide a financial cushion for your loved ones, pay for your protection, invest in your business or increase your retirement income.
Universal Life Insurance
Universal Life Insurance is a flexible product that is divided into two parts:
- Insurance that protects you for life.
- Investments through a savings fund that allows you to accumulate tax-sheltered amounts.
In concrete terms, you frequently pay amounts into your savings fund, which also pays for your protection. You then invest the additional amounts in investments that you choose from among the 30 or so options available. This is an effective solution for transferring your financial assets to your heirs.
It's a perfect insurance product if you want to reduce the impact of taxes on your estate and you've reached the maximum contribution amounts for your RRSPs, RESPs and TFSAs.
- Your protection lasts for your entire life.
- You pay in 10 or 20 year increments or you pay a fixed amount for life.
- You pay no fees when you make withdrawals after the first 5 years.
For additional protection, you can add certain riders to your life insurance policy:
- Accident: Protects you and your children in the event of an accident.
- Disability: Your premiums will be paid for up to 5 months in the event you are unable to work due to disability.
Life Insurance for Ages 50 and Over
Protection for ages 50 to 75
This is an affordable permanent life insurance policy for ages 50 to 75 that provides you with tax-sheltered savings. With this amount, your beneficiaries will be able to carry out your last wishes without financial worries. You don't need to pass a medical examination to prove your good health.
This coverage is ideal for:
- Providing a large enough amount to cover funeral expenses.
- Obtaining one of the least expensive coverage on the market.
You will be insured immediately and the amount of insurance ($5,000, $7,500, $10,000, $15,000 or $20,000) will be paid even if your death occurs during the first two years of your coverage. In addition, the amount will be multiplied by five if your death is accidental and before age 85. Finally, you could benefit from a payment of up to 50% of the insurance amount of your policy.