Desjardin Life Insurance Review

Learn more about Desjardin life insurance in Canada. Talk to one of our experienced advisors, today!

6 minute read

Desjardin insurance review canada 2.5 out of 5 from protect your wealth and has a stable financial outlook

Desjardin Insurance Review

Learn more about Desjardin life insurance in Canada. Talk to one of our experienced advisors, today!

6 minute read

Desjardin insurance review canada 2.5 out of 5 from protect your wealth and has a stable financial outlook

Desjardins term life insurance is available in terms of 10, 20, or 30 years or until age 65 but doesn’t have unique riders in comparison to competing life insurance companies. Their permanent life insurance offerings are more appealing such as participating life insurance products, where you can decide whether to pay your premiums for 20 years or until age 100, and use any dividends to reduce your yearly premium. Desjardins life insurance also has fair critical illness insurance and disability insurance offering. In conclusion Desjardin is a straightforward option, but lacks some benefits when compared to competing life insurance companies which is why Protect Your Wealth gives them a 2.5 stars out of 5 . To find out what life insurance company is best for you, check out our Best Life Insurance Companies Guide

Company Overview

Desjardin is one of Canada’s largest credit unions and is amongst one of the largest cooperative insurance firms in the world. Desjardin was founded in 1900, and is headquartered in Quebec, it has substantially grown over the century and is now a company with over $40 billion in financial assets. Recently, Desjardin took over the Canadian business of State Farm insurance in 2015. Desjardin offers life insurance products through their Desjardin Financial security division, but also has other insurance products ranging from home to auto to pet insurance. Desjardin is a growing company and their financial future looks bright as they have a large team of over 6,000 financial advisors. 

Desjardin Life Insurance Pros

  • Large suite of products, including critical illness and disability products

  • Multi-policy discounts available

Desjardin Life Insurance Cons

  • Less terms period offerings

  • Lacks riders for term life insurance

Desjardin Life Insurance Products

Desjardin life insurance products include a traditional term life insurance package which offers terms of 10, 20, 30 years or a term-to-age 65. Desjardin has permanent life insurance packages as well which have a fair offering of a personalized coverage package, and a basic coverage package which is a no-medical option, but also offer some more appealing coverage options like their participating life insurance and universal life insurance.

Desjarding insurance offers 10, 20 and 30 year life insurance terms, it also has a basic and personalized permanent life insurance options. There are also participating life insurance options too.

Desjardin Term Life Insurance 

The term life insurance packages offered by Desjardin include Term 10, Term 20, Term 30 and Term-to-age 65 packages. These packages are available to be combined with a joint policy or just as an individual policy. The diverse terms are great for those looking for short, medium and long term coverage.

Key Highlights

  • Available for those ages 0 to 60 years old
  • Coverage amount begins at $25,000
  • Renewable until age 85
  • Exchangeable for permanent life coverage until 70 years old
  • Exchangeable for a longer term 

Optional Benefits

  • Family policies available

Key Highlights

  • Available for those ages to 60 years old
  • Coverage amount begins at $25,000
  • Renewable until age 85
  • Exchangeable for permanent life coverage until 70 years old
  • Exchangeable for a longer term 

Optional Benefits

  • Family policies available

Key Highlights

  • Available for those ages 0 to 60 years old
  • Coverage amount begins at $25,000
  • Renewable until age 85
  • Exchangeable for permanent life coverage until 70 years old
  • Exchangeable for a longer term 

Optional Benefits

  • Family policies available

Key Highlights

  • Available for those ages 0 to 60 years old
  • Non renewable 
  • Convertible to a permanent life policy before age 60
desjardin permanent life insurance offer a basic and personalized insurance package, but also includes a universal and permanent life insurance options

Desjardin Permanent Life Insurance

Desjardin offers a handful of permanent life insurance options including a basic coverage package which is a no-medical option for those who are 50 years old to 75 years old, and a personalized package with coverage up to $10 million. Desjardin has a participating life insurance option that offers tax-advantaged cash value and a possibility of dividends. Finally, Desjardin offers a universal life insurance coverage that gives you the opportunity to invest, find out more about participating life insurance coverage.

Key Highlights

  • Available for those ages 50 to 75 years old
  • Coverage from $5,000 to $20,000 
  • Guaranteed premiums 
  • Medical exam is not require

Optional benefits

  • 30-day policy trial with refund
  • 5x in benefits in the event of accidental death before the age of 85 years old

Key Highlights

  • Coverage from $1,000 to $10 million
  • Guaranteed premiums payable for 10, 15, 20 years or up to age 65 or 100 

Optional benefits

  • Discounted rates when combined with other types of insurance coverage 
  • 5x in benefits in the event of accidental death before the age of 85 years old

Key Highlights

  • Pay premiums for 10 to 20 years or until age 100 
  • Tax-free death benefit
  • Coverage that accumulates cash value 
  • Dividends can be used to deduct the price of monthly premiums

Optional benefits

  • Add disability waiver or increase additional coverage without medical assessment 
  • Stop paying premiums in the event of disability  

Key Highlights

  • Make amendments to policy without penalty after 5 years
  • Available for the ages of 18 years old to 70 years old
  • Guaranteed premiums 
  • Over 30 investment options
  • Monthly benefits to cover expenses in the event of disability 

Optional benefits

  • Disability waiver of premium rider
  • Accidental death benefit rider

Other Desjardin Insurance Products

Desjardin offers health and disability insurances as well such as their critical illness insurance and disability insurance. These insurance policies can be purchased as standalone policies or can be purchased as a package as a rider with your life insurance.

Key Highlights

  • Available for all ages 0 to 65 years old
  • Income replacement of $400 to $10,000 in the event of disability which can pay you monthly for 2 years, 5 years or until age 65 or 70 years old
  • Ability to change your protection during the first 7 years in the case of disability in case your needs change, without insurability assessment

Optional benefits

  • Monthly payment can be increased to keep up with your income 
  • 50% refund on premiums in the case of disabilities 
  • 24/7 access to phone medical assistance

Desjardin offers their critical illness insurance in a basic or personalized option

Basic

Key Highlights

  • Receive a benefit upon first diagnosis of cancer, heart disease, or infectious disease ( Bacterial meningitis, Lyme disease, flesh-eating disease, E. coli infection (hamburger disease) and West Nile virus.)
  • GetWell Tax-free lump sum is paid out upon first diagnosis of covered illnesses 
  • Rates start as low as $7.95 per month
  • Pay only half price on premiums for the first year 
  • Psychological assistance available

Personalized

Key Highlights

  • Coverage from $10,000 to 3 million
  • Coverage for up to 26 illnesses 
  • Premium holidays available
  • Get your premiums back if you’re healthy until your coverage ends, or in the case of premature death the beneficiary can get 100% of the premiums and 25% of the benefit

Optional benefits

  • Coverage for children without health assessment
  • Psychological assistance, and autonomy assistance

Desjardin Insurance Customer Reviews

Many Desjardin clients are satisfied with their experience with the company:

  • Competitive rates

  • Straightforward, and simple insurance options

On the other end, Desjardin clients sometimes find that:

  • Customer service is hard to reach 

  • Does not offer competitive term life options 

  • Bad cancellation experiences from former clients 

Finding the right life insurance for you

If you’re not sure of what the best insurance product or company is for you, working with a life insurance specialist can help you find the best solution to fit your particular situation. At Protect Your Wealth, we’ve been providing expert advice for all types of life insurance, including for no medical, term life, or permanent life insurance, since 2007. As your Life Insurance broker and financial planner, we work with you to create a personalized plan for your family or business that covers and meets your needs. 

Contact Protect Your Wealth or call us at 1-877-654-6119 to talk to an advisor today. We’re proudly based out of Hamilton, and service clients anywhere in Ontario, including areas such as Guelph, Kitchener, and Barrie.

Talk to an advisor today.

Best Life Insurance Quotes Canada