Desjardins Insurance - Life Insurance ProductsFounded: 1944
  • Term Insurance
    Permanent Insurance
    Participating Insurance
    Universal Insurance
    Critical Illness Insurance

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desjardins logoDesjardins Insurance offers a range of life insurance policies to help you secure your financial future. Whether you're looking for coverage for a specific period or lifelong protection, Desjardins has options to suit your needs. In this article, we will explore the different types of Desjardins Insurance policies available, their benefits, and how they can contribute to your overall financial security plan.

Term Life Insurance: Affordable Coverage for Short- and Medium-Term Needs

Term life insurance is an excellent choice if you have short- to medium-term financial needs. It provides coverage for a specific period, usually 10, 20, or 30 years. One of the main advantages of term life insurance is its affordability, making it a popular choice for individuals looking for cost-effective coverage.

Ideal for Various Financial Needs

Desjardins Insurance's term life insurance offers several benefits that can address different financial needs:

  1. Affordable coverage: Term life insurance provides a cost-effective way to protect your loved ones financially in the event of your death.
  2. Debt repayment: By leaving behind a lump sum benefit, term life insurance can help your beneficiaries repay any outstanding debts, such as mortgages or loans.
  3. Maintaining standard of living: Term life insurance ensures that your loved ones can maintain their current standard of living, covering essential expenses like housing, education, and daily living costs.

How Desjardins Term Life Insurance Works

Desjardins Insurance makes purchasing term life insurance simple and convenient. Here's how it works:

  1. Coverage flexibility: You can choose the coverage amount and duration that best suits your needs, whether it's 10, 15, 20, 25, or 30 years or coverage until age 65.
  2. Benefit payment options: In the event of your death, your beneficiaries can receive the tax-free benefit either as a lump sum or after the first spouse's death for joint coverage.
  3. Additional benefits: Desjardins Insurance offers additional coverages, such as coverage for children and premium holidays in the event of disability, to enhance your policy's value.

To purchase a term life insurance policy from Desjardins Insurance, you can make an appointment with one of our representatives who will assess your financial needs and recommend the best solution for you.

Permanent Life Insurance: Lifelong Coverage for Long-Term Financial Security

If you're looking for lifelong coverage, Desjardins Insurance's permanent life insurance policies are an excellent choice. Unlike term life insurance, permanent life insurance provides coverage for the rest of your life, ensuring your loved ones are protected no matter when you pass away.

Cost-Effective in the Long Run

While permanent life insurance may have higher initial premiums compared to term life insurance, it can be more cost-effective in the long run. This is because permanent life insurance policies, such as whole life or universal life insurance, build cash value over time, which can be used to offset future premiums or supplement your retirement income.

Different Types of Permanent Life Insurance

Desjardins Insurance offers two main types of permanent life insurance policies:

  1. Whole Life Insurance: This type of policy provides guaranteed coverage for life and includes a cash value component that grows over time.
  2. Universal Life Insurance: Universal life insurance combines lifelong coverage with a tax-deferred investment component, allowing you to grow your money over time while ensuring your beneficiaries are financially protected.

Benefits of Permanent Life Insurance

Permanent life insurance from Desjardins Insurance offers several benefits to consider:

  1. Lifetime coverage: Your loved ones will receive a death benefit regardless of when you pass away, providing long-term financial security.
  2. Cash value accumulation: Permanent life insurance policies accumulate cash value over time, which can be accessed tax-free and used for various purposes, such as supplementing retirement income or funding emergencies.
  3. Flexibility and customization: Desjardins Insurance allows you to personalize your permanent life insurance policy by adjusting the coverage amount, premium payment schedule, and investment options to align with your financial goals.

To purchase permanent life insurance from Desjardins Insurance, you can schedule an appointment with one of our representatives who will guide you through the process and help you choose the most suitable coverage option. Phone options are also available for a convenient and hassle-free experience.

Participating Life Insurance: Maximizing Your Estate's Value and Flexibility

Desjardins Insurance's participating life insurance is an excellent choice for individuals who want to maximize the value of their estate while enjoying flexible coverage options. Participating life insurance provides lifetime coverage with the added advantage of potential dividend payments, which can significantly enhance the value of your policy.

Key Benefits of Participating Life Insurance

By choosing participating life insurance from Desjardins Insurance, you can enjoy the following benefits:

  1. Estate maximization: Participating life insurance allows you to leave behind a large, tax-free inheritance to your loved ones, ensuring their financial well-being.
  2. Tax-preferred cash values: The cash values accumulated in participating life insurance policies grow tax-free, providing an additional source of savings that you can access anytime.
  3. Inflation protection: Participating life insurance policies offer the option to increase your death benefit over time to keep up with inflation and ensure your coverage remains adequate.
  4. Flexibility and adaptability: Desjardins Insurance's participating life insurance policies allow for coverage adjustments as your needs evolve, giving you the flexibility to tailor your policy according to your changing circumstances.

How Participating Life Insurance Works

Participating life insurance policies have guaranteed elements, such as premiums, death benefits, and some cash surrender values. However, the annual dividends are not guaranteed and can vary based on the performance of the participating account.

Personalized Coverage Options

Desjardins Insurance offers various personalized coverage options for participating life insurance policies:

  1. Premium payment flexibility: You can choose to pay your premiums for a specific duration, such as 5, 10, 20 years, or until age 100, depending on your preferences and financial goals.
  2. Guaranteed death benefit: Participating life insurance provides a guaranteed, tax-free death benefit to your beneficiaries, ensuring their financial security.
  3. Dividend utilization: You have the option to use dividends to purchase additional life insurance coverage or reduce your annual premiums, further enhancing the value of your policy.
  4. Premium waiver in the event of disability: Desjardins Insurance offers the benefit of not having to pay premiums if you become disabled while covered under a participating life insurance policy.

To buy a participating life insurance policy from Desjardins Insurance, you can schedule an appointment with one of our representatives who will assess your financial needs and recommend the most suitable coverage option. Online and phone options are also available for a convenient and streamlined experience.

Universal Life Insurance: Flexibility and Tax-Advantaged Savings

Universal life insurance from Desjardins Insurance offers a combination of flexible coverage options and tax-advantaged savings. It provides lifelong protection while allowing you to grow your money tax-free within the policy's investment component.

Benefits of Universal Life Insurance

Universal life insurance offers several benefits that make it an attractive choice for individuals looking for flexibility and tax advantages:

  1. Large, tax-free inheritance: By choosing universal life insurance, you can leave behind a substantial, tax-free inheritance to your loved ones, ensuring their financial well-being.
  2. Tax-advantaged savings: The investment component of universal life insurance policies allows you to grow your savings tax-free, making it an efficient tool for building wealth.
  3. Estate planning advantages: Universal life insurance can help reduce the tax burden on your estate, ensuring that more of your assets go to your beneficiaries.
  4. Coverage customization: Desjardins Insurance allows you to customize your universal life insurance policy based on your changing needs and financial goals, providing the flexibility to adapt as your circumstances evolve.

How Universal Life Insurance Works

Universal life insurance policies consist of two components: a life insurance component and an investment component. The life insurance component provides lifelong coverage, while the investment component allows you to accumulate cash value within the policy. This cash value can be used to cover future premiums or increase your insurance benefit.

UL Insurance Personalized Coverage Options

Desjardins Insurance offers personalized coverage options for universal life insurance policies:

  1. Policy amendments: You can make changes to your universal life insurance policy, penalty-free, after the first five years to adapt to your changing needs and financial goals.
  2. Diversified investment options: Desjardins Insurance provides more than 30 diversified investment options, allowing you to choose the ones that align with your risk tolerance and investment objectives.

Additionally, universal life insurance policies from Desjardins Insurance come with additional coverages, such as an insurability guarantee and a monthly benefit for disability, further enhancing the value and flexibility of your policy.

To purchase a universal life insurance policy from Desjardins Insurance, you can make an appointment with one of our representatives who will guide you through the process and help you select the coverage options that best suit your financial goals.

Conclusion

Desjardins Insurance offers a comprehensive range of life insurance policies to help you protect your loved ones and secure your financial future. Whether you choose term life insurance for short- to medium-term needs, permanent life insurance for lifelong coverage, participating life insurance for estate maximization, or universal life insurance for flexibility and tax-advantaged savings, Desjardins Insurance has options to suit your unique requirements. By incorporating Desjardins Insurance into your financial security plan, you can gain peace of mind knowing that your loved ones will be financially protected in the event of your passing. Make an appointment with one of our Insurance representatives today to explore the different coverage options and find the policy that best fits your needs.

Additional Information: Desjardins Life Insurance aims to provide individuals with a variety of life insurance options to meet their specific needs. Whether it's term life insurance, permanent life insurance, participating life insurance, or universal life insurance, Desjardins Life Insurance has policies that can fit various financial goals, such as debt repayment, maintaining a standard of living, maximizing estate value, and tax-advantaged savings. With flexible coverage options and personalized solutions, Desjardins Life Insurance is committed to helping individuals secure their financial future and provide for their loved ones.