Desjardins Life Insurance Review

Desjardins Insurance is the life and health arm of the Desjardins Group, the largest cooperative financial group in Canada. The life company has operated across the country since 1948, and the wider Desjardins movement traces back to the first caisse populaire in 1900.

What trips people up is that one brand covers a lot of ground: banking, car and home insurance, group benefits, and individually underwritten life insurance are all Desjardins, but they are not the same thing and they are not bought the same way. This review is only about the individual life, critical illness, and disability coverage a broker can actually place for you, and where each one fits.

What this review covers

• Who actually underwrites Desjardins life insurance
• Can an independent broker sell Desjardins?
• How a Desjardins application gets routed before you apply
• Which health conditions Desjardins will insure, and at what rating
• Desjardins term life insurance
• How much Desjardins life insurance costs
• Desjardins permanent life insurance
• Desjardins critical illness insurance
• Desjardins disability insurance
• Desjardins health and dental coverage
• Other Desjardins insurance you might be searching for
• Desjardins pros and cons
• Who Desjardins fits, and who should compare
• Frequently asked questions

Who Actually Underwrites Desjardins Life Insurance

Your Desjardins life insurance policy is written by Desjardins Financial Security Life Assurance Company, the life and health arm of the Desjardins Group. That matters more than it sounds, because the Desjardins name sits on a lot of different things, and only one of them is the company standing behind a life claim.

The life company has taken care of Canadians since 1948. The wider Desjardins movement goes back further, to the first caisse populaire in 1900, but the insurer you are actually buying from is the 1948 entity, regulated in Quebec by the AMF and operating across the country.

So is Desjardins legitimate? Yes, without hesitation. It is a financially strong, regulated Canadian life insurer, and the “A (Excellent)” rating AM Best assigned in May 2026 is the kind of independent check that actually means something. Brand recognition is the least useful test here. Regulation, financial strength, and a long operating history since 1948 matter far more, and Desjardins clears all three.

Assuris is the part most people have never heard of and the part I bring up most. Every licensed Canadian life insurer is a member, and it protects your coverage within set limits if an insurer ever goes under. For most policies that backstop is meaningful, though a very large policy still deserves a closer look. If that worry is the real thing nagging at you, I walk through exactly what happens in what happens if your life insurance company goes bankrupt.

One honest note on reviews before we go further. If you search Desjardins online, most of what comes back is about banking, car, or home insurance, not individually underwritten life insurance. Those ratings tell you something about service across a giant organization. They tell you almost nothing about how a life or critical illness claim gets paid, which is the part that should actually drive your decision.

Can an Independent Broker Sell Desjardins Life Insurance?

Yes. Desjardins is not a company you can only reach through a Desjardins branch, and that is worth clearing up because a lot of people assume it is. As an independent broker, I can place a Desjardins policy the same way I place Manulife, Sun Life, Canada Life, or iA. Here is how I put it to clients:

That is the whole point of going independent. Desjardins sells through several channels: its own caisse and advisor network in Quebec, a credit-union network in Ontario, over the phone for a couple of products, and through independent distribution across the country. When you work with me, you are getting the individual life, critical illness, and disability shelf, quoted next to every other carrier I hold, not just handed a single company’s brochure.

What that also means, honestly, is that the exact shelf can depend on the contract and the province. Availability and product features are subject to Desjardins’ current distribution rules. But the short version is simple: you do not have to walk into a Desjardins location to get a Desjardins policy, and you probably should not, because on its own it only shows you one option instead of the whole market.

How a Desjardins Application Gets Routed Before You Apply

Some current Desjardins application questions use a five-year look-back where several other insurers ask about a longer period, and that is one reason Desjardins ends up on the table for files other companies make harder than they need to be. Other questions use different timeframes, or ask whether an event has ever happened. Every question still has to be answered fully and exactly as written.

Here is why the application version matters as much as the underwriting itself. If one carrier’s question reaches back five years and another’s reaches back further, or asks “have you ever,” the honest, correct answer can differ between companies for the same person on the same day. Matching the client to the carrier whose questions fit their actual situation is the job. Not coaching anyone on what to leave out, just knowing where a given history genuinely does not trigger a question.

Timing matters and placement matters. Coverage may start guaranteed, move to simplified, and eventually reach a fully underwritten standard rate. The advice I push back on hardest is “there are simply no options,” because it is usually wrong, and a file like this is exactly the kind I would rather see early. More on the mechanics in life insurance with a criminal record in Canada.

One current operational note, verified as of July 2026: Desjardins has temporarily suspended its preliminary underwriting inquiries, the anonymous “here is the file, what would you do with it” check I normally run with a carrier’s underwriting team before anyone applies. It lets you get an indication without submitting a formal application or receiving a formal underwriting decision, though an informal inquiry can still be documented internally. While it is paused I rely on the other carriers that still offer it, and route the formal Desjardins application only once the rest of the picture is clear. A process wrinkle, not a reason to rule the carrier out.

If you have already been declined somewhere, that is not the end of it either. We cannot go back, only forward. A prior decline can make a simplified application harder, because some carriers ask about it directly, which is the argument for sorting the routing out before applications start going on record.

What Desjardins Underwriters Actually Review

What decides a Desjardins application is rarely the diagnosis on its own, it is the full picture around it. Two people with the same condition can land in very different places depending on the details, which is why I never promise a rate before a file is properly assessed. Here is what underwriters actually weigh.

A couple of Desjardins’ own pre-screening principles are worth knowing, because they are within your control. More time since the last event or episode may improve the underwriting outcome when the condition remains stable and the rest of the file is favourable. And if tests or follow-ups are pending, it is usually better to wait until results are in before applying, rather than have an underwriter work from an incomplete picture. Age at the time of the event matters too.

This is exactly where a broker earns their keep. Rather than fire off an application and hope, I would rather look at the file first and route it to the carrier whose approach fits it, whether that is Desjardins or someone else. Outcomes always depend on the full file and are subject to underwriting. If you have a condition in the mix, get in touch and we will assess it properly before anything goes in.

Desjardins Term Life Insurance

Desjardins offers six term lengths, not the “one product” older reviews describe: Term 10, 15, 20, 25, 30, and a Term to 65. Most reviews miss this, and it changes the picture, because six durations means you can match coverage to the exact debt or income window you are protecting instead of rounding to whatever a carrier happens to sell.

The mechanics are where term either fits your plan or does not. Renewal, conversion, and the exchange option are the three things I actually check for a client, so here is how each one works at Desjardins.

A few details that matter on the application. Coverage runs from $55,000 up to the illustration software maximum, with higher amounts available by request, subject to underwriting. Terms are offered individual or joint first-to-die, except Term to 65, which is individual only. There is also a multi-coverage discount when two or more eligible coverages go on the same policy at the same time.

Any of the six can be converted to an eligible permanent product before age 70 without new medical evidence, subject to the policy terms in effect. And here is the one that quietly costs people money: Desjardins preferred rate classes generally require a fairly high coverage amount to unlock at younger ages, so a healthy 35-year-old buying a smaller policy may not reach the sharpest pricing tier. That is not a knock, it is just how their rate bands work, and it is exactly the kind of thing that decides whether Desjardins or another carrier wins a specific file. Pricing and eligibility always depend on the full application. If you want the plain-English version of what to weigh on any term policy, start with 10 factors to get the best term life insurance policy, or compare live against the market with the best term life insurance in Ontario.

How Much Desjardins Life Insurance Costs

Desjardins term pricing is competitive rather than cheapest, and in the quote testing I run it tends to be strongest around the 20-year mark. That is the honest one-line answer, and the table below shows where it lands for a healthy non-smoker on $500,000 of coverage.

Sample premiums are for illustration only. They assume Ontario residence, non-smoker status, standard underwriting, no additional health concerns, and current carrier rates at the time of quoting. Final premiums depend on age, sex, province, coverage amount, term length, health history, and insurer approval. Term 30 issue ages end earlier, so it is not offered at age 60.

Read down the columns and the pattern is clear. At younger ages the monthly difference between carriers is a few dollars, which is why fit and underwriting usually matter more than price. By the 50s and 60s the gaps get real, and that is where shopping the market genuinely pays off.

Where Desjardins earns its spot on price is the 20-year term specifically. In an Ontario quote comparison run against the major carriers I shop, it lands among the top few on a meaningful share of 20-year quotes for standard non-smokers, and occasionally first. On 10-year and 30-year it is more middle of the pack. So if someone wants straight 20-year coverage, Desjardins is a name I will always price out. If they want the outright lowest 10 or 30-year premium, another carrier often wins.

Smoker rates and larger or smaller face amounts move these numbers, and a rating changes them again. The only way to know where Desjardins actually sits for your age and health is to run it against the market, which costs nothing. Start a term quote and we will lay Desjardins beside the carriers most likely to beat it.

Desjardins Permanent Life Insurance

Desjardins sells three distinct kinds of permanent coverage, and lumping them together is where most reviews go wrong. Guaranteed whole life, participating whole life, and universal life do very different jobs, and the cash value story is different in each. Here is the breakdown.

On cash value timing, one myth is worth killing. Permanent cash value does not have to crawl for 15 or 20 years. That slow curve describes a base-funded participating policy. A guaranteed whole life here builds guaranteed value from year five, and a participating policy funded with the Additional Deposit Option can build cash value faster. How fast depends entirely on the design and the funding, which is the conversation to have before you sign, not after. Coverage amounts, issue ages, and tax treatment all depend on the specific product and your situation.

On the flexibility that makes permanent worth it: any of the six term products can convert to permanent coverage before age 70 with no new medical, so a temporary need that turns permanent does not leave you re-qualifying on older health. If permanent is where your planning is heading, especially inside a corporation, it is worth seeing how a participating policy is actually used as an asset. I go deeper in investment-grade participating whole life for Canadian businesses, and on the basics in the benefits of whole life insurance.

Desjardins Critical Illness Insurance

Desjardins critical illness insurance pays a tax-free lump sum when a diagnosis meets the policy definition and the insured satisfies any applicable moratorium, survival, or qualifying period, and coverage goes up to $4 million, which is at the higher end of what Canadian carriers offer. The money is yours to use however you need, whether that is treatment, the mortgage, or just staying afloat while you are off work.

The product, called Health Priorities, comes in three builds depending on who is being covered.

It covers 26 conditions, the cancers, cardiac events, and strokes that drive most claims, through to conditions like MS, Parkinson’s, major organ failure, and loss of independence. There are also partial payments on certain early-stage cancers and minor cardiac procedures, which is a genuinely useful feature people rarely read about until they need it.

One honest point on the Business version, because it gets sold as a Desjardins special. Shared ownership is a planning structure, not an exclusively Desjardins concept. Empire Life, Sun Life, and Manulife all have material on it too. Whether a particular policy can actually support the intended arrangement depends on the contract, the ownership agreement, how premiums are allocated, carrier administration, and current legal and tax advice, so it is not something to assume works on any policy off the shelf. I break down how the structure itself works in shared interest critical illness. That distinction matters when you are comparing, and it is the sort of thing a broker should be telling you rather than a brochure. The tax and legal treatment of an Executive Health Plan arrangement should always be confirmed with your own accountant and lawyer before you set one up.

Whether critical illness makes sense at all, and whether the rider or a standalone plan fits better, depends on your budget and what you are protecting. I work through that decision in is critical illness insurance right for you, and compare the market in the top critical illness insurance companies in Canada. Pricing is quoted case by case, so get in touch to size it properly.

Desjardins Disability Insurance

Desjardins SOLO can be useful when a pre-existing condition is in the picture, because even with an exclusion there may still be meaningful coverage available for accidents and unrelated illnesses. Disability insurance replaces part of your income if you cannot work, and it is the coverage self-employed and contract workers most often go without. Desjardins sells it under the SOLO name, and there are really two different animals here that most reviews blur into one.

The Essential product is why Desjardins earns a spot on my shelf for tougher files. Desjardins may still offer disability coverage when a pre-existing condition is present, depending on the product and the full file. Accidents and unrelated illness are covered. What it does not do is pay for a disability caused by the pre-existing condition itself, which is generally excluded, and I will not present simplified coverage as if it covers that. It is real protection, as long as you understand exactly what it pays and what it does not, and setting that expectation honestly is what matters.

If your situation involves a health history, that changes which product fits, and I walk through the options in disability insurance with a pre-existing condition. And if you already have coverage through work, it is worth understanding how that compares to a policy you own outright, which I cover in group versus individual disability insurance. Amounts, eligibility, and pricing all depend on the full application and your occupation.

Desjardins Health and Dental Coverage

Desjardins offers personal health and dental coverage through a plan called SOLO Healthcare, and it is built for people without a workplace group plan: the self-employed, contract and seasonal workers, and anyone whose employer benefits ended. It fills the gaps provincial health does not cover, things like prescription drugs, dental, vision, physiotherapy, and paramedical care.

You start by picking one of two base plans, then add the modules you want. Both carry a $0 deductible.

On top of either plan you can add a prescription drug module, reimbursing up to $10,000 per person per year, and a dental module. That build-your-own structure is the useful part: you are not forced to buy a rigid package, you assemble roughly what a decent group plan would give you.

One genuinely useful angle for business owners and the self-employed: premiums for individual health coverage like this can, in some cases, be a deductible business expense or qualify for the medical expense tax credit. The rules are specific and depend on your structure, so that is a conversation for your accountant, not a blog. But it is worth knowing the door exists. If a health and dental plan is something you are weighing, get in touch and we will look at whether SOLO Healthcare or another option fits your situation.

Other Desjardins Insurance You Might Be Searching For

Desjardins sells a lot of insurance that is not the individual life, critical illness, or disability coverage a broker places, and a fair number of people land on this page looking for one of those other things. So here is where each one actually lives, and who to talk to.

The reason this matters: “Desjardins” is one name stretched across a bank, a property and casualty insurer, a group division, and a life company. When you work with me, we are only in that last box, the individually underwritten life, critical illness, and disability coverage, quoted against the whole market rather than one brand.

Desjardins Life Insurance Pros and Cons

Here is the honest scorecard after placing Desjardins against the rest of the market. No carrier wins on everything, and the point of a broker is knowing which trade-offs actually matter for your situation.

Read that side by side and the takeaway is simple. Desjardins is a strong, well-priced option for the situations it fits, especially 20-year term and files that need a shorter question window or a simplified disability route. It is not automatically the cheapest, and on a straightforward 10 or 30-year term at standard health, another carrier often comes in lower. Which side of that line you land on depends entirely on your age, health, and what you are protecting, which is exactly what a market comparison sorts out.

Who Desjardins Fits, and Who Should Compare Other Insurers

Desjardins is the right call when its specific strengths line up with what you need, and a familiar name is not one of those strengths. The cleanest way to see it is by situation. Find the row closest to yours.

None of the “compare hard” rows are reasons to rule Desjardins out. They are reasons to put it beside two or three other carriers and let the numbers decide, which for most people takes one conversation. The mistake is assuming a big name automatically means the best fit or the best price. Sometimes it is both. Sometimes it is neither. The only way to know is to look.

If you want that comparison done for your age, health, and budget, that is the actual job, and it costs nothing to see the numbers. Get in touch and we will put Desjardins beside the carriers most likely to beat it.

Frequently Asked Questions About Desjardins Life Insurance

Protect Your Wealth is an independent Canadian brokerage offering life insurance and segregated fund solutions. We compare the market so you do not have to, and there is never a cost to get a comparison. If a Desjardins policy turns out to be your best fit, we place it. If another carrier wins, we tell you that too.