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You are here: Home > Personal > Insurance > Life and health insurance > Life insurance

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Life insurance

Which type of coverage is right for me?

A death in the family is a life-altering event, but life insurance can minimize the financial strain, by helping you to:

  • Pay death-related expenses (funeral costs and income tax)
  • Maintain your family's standard of living
  • Make sure any important plans stay on track (saving for a home or your children's education, etc.)

Life insurance is also an important part of your financial security. Learn about our different categories of insurance.

Term life insurance Permanent life insurance Universal life insurance
Provides affordable coverage for a set period of time (1, 5, 10 or 20 years) Provides lifetime coverage that's more cost-effective than term life insurance in the long run In addition to providing lifetime insurance coverage, it also includes a tax-free investment component
It's the right choice for you if:
  • You have dependent children
  • You have short-term debts
  • You own a business and have major start-up costs
It's the right choice for you if:
  • You want to leave your loved ones an inheritance
  • You want to be able to stay insured, no matter what happens to your health
It's the right choice for you if:
  • You want to leave your loved ones a sizeable inheritance
  • You've maxed out your RRSP and TFSA contributions
  • You have a company and want to protect its value
Learn more - Term life insurance Learn more - Permanent life insurance Learn more - Universal life insurance

Insurance bundles

Make life easier by bundling your insurance needs.

Our unique, affordable insurance bundles combine coverages geared for people at all stages of life (singles aged 18 to 30, couples, families or retirees).

Learn more - Vision insurance bundles

Compare the various types of life insurance and their corresponding products.

Key features

Term life insurance Permanent life insurance Universal life insurance
Meets short-term needs (while your children are growing up or you're paying off your mortgage, etc.) Meets longer-term needs (leaving your loved ones an inheritance, etc.) Meets long-term needs (leaving your loved ones a sizeable inheritance, etc.)
Affordable, fixed premiums for a set period Premiums can be fixed for the entire duration of the policy, vary based on age, or paid-up in a certain number of years (10 or 20 years) Premiums can vary depending on the coverage selected - you decide how much you want to save, tax-free, and what products you want to invest in
No savings component No savings component Includes a savings component
Can be renewed at the end of the coverage period - the premiums are then adjusted for the new term No need to renew because it's lifetime coverage Lasts your whole life, but allows you to add or change coverages as your needs evolve
Can be converted into permanent or universal life insurance Can't be converted Some coverages can be converted
Can be combined with health coverage Can be combined with health coverage Can be combined with health coverage
Learn more - Term life insurance Learn more - Permanent life insurance Learn more - Universal life insurance

Products available

Term life insurance Permanent life insurance Universal life insurance
Vision Death Coverage

Lets you choose the term that's right for you (7, 10, 12, 20 years, etc.)

 

Vision Death Coverage - Monthly Income

Provides your loved ones with a monthly income in the event of your death

 

Vision Guaranteed Insurability

Lets you take out additional life insurance at specific points in time without having to provide proof of good health

50+ Life Insurance

If you're between the ages of 50 and 75, you can be insured immediately, without a medical exam

 

Savings-Life Insurance

For holders of Desjardins savings accounts.

Provides affordable coverage for your core life insurance needs

 

Vision Death Coverage

Lets you choose to pay fixed premiums or premiums that vary based on your age

Option to add health coverage

 

Vision Paid-up Death Coverage

Lets you pay off all of your premiums in 10 years, 15 years, 20 years, or up to age 65 or 100

Guaranteed surrender values

 

Vision Duo Solution

Covers you for life and combines the advantages of life and critical illness insurance. Plus, you can choose to pay off all of your premiums in 10 years, 20 years, or by age 100

Guaranteed surrender values

Vision Death Coverage with Savings

Combines an insurance component with an investment component that lets you build savings, tax-free

Offers a wide range of investment options, including Desjardins Funds

Term life insurance

Term life insurance is designed to meet short-term needs. It covers a set period of time, generally from 1 to 20 years, or even longer, depending on your needs. The cost of term life insurance is typically more affordable than permanent life insurance, which covers you for life.

This type of insurance meets your needs if:

  • You have dependent children
  • You have short-term debts

Features

  • Premiums can be fixed for the entire duration of the policy
  • Coverage can be extended without having to submit proof of good health

Products available

Lets you choose the term that's right for you (7, 10, 12, 20 years, etc.)

Provides your loved ones with a monthly income in the event of your death

Lets you take out additional life insurance at specific points in time without having to provide proof of good health

Permanent life insurance

Permanent life insurance is designed to meet your long-term needs and protect you for life. It's also more cost-effective than term life insurance in the long run.

This type of insurance meets your needs if:

  • You want to leave your loved ones an inheritance
  • You want to be able to stay insured, no matter what happens to your health

Learn about our 2 categories of products

WITHOUT coverage needs analysis WITH coverage needs analysis
  • Purchase by phone or at a caisse
  • Predetermined insurance amount (covers basic needs)
  • No medical exam (you just have to answer a few questions)
  • Quick and easy to buy

If you want life insurance without a coverage needs analysis, choose one of the following products:

  • Meeting with a financial security advisor1 (life and health insurance specialist)
  • Insurance amount adapted to your needs (no limit)
  • Meeting at a location that works best for you (at the caisse or at home)
  • Advice about life, health and disability insurance

Products available:

50+ Life Insurance (age 50 and over)

Savings-Life Insurance (insurance amount of $25,000)

Products available:

Vision Death Coverage

Vision Paid-up Death Coverage

Vision Duo Solution

1. In Ontario, this refers to a life and health insurance representative employed by Desjardins Insurance. In Quebec, this refers to a financial security advisor employed by Desjardins Financial Security, Financial Services Firm and assigned to a Desjardins caisse.

Desjardins Insurance refers to Desjardins Financial Security Life Assurance Company.

Universal life insurance

Universal life insurance is designed to make sure you're covered for as long as you need, and lets you invest tax-free at the same time.

This type of insurance meets your needs if:

  • You want to leave a sizeable inheritance to your loved ones
  • You've maxed out your RRSP and TFSA contributions
  • You have a company and want to protect its value

Features

  • Offers coverage for as long as you need (for life, etc.)
  • Includes 2 components:
    • An insurance component that provides coverages to meet your needs at any stage of life
    • An investment component that allows you to build savings, tax-free
  • Can combine multiple coverages and multiple insureds under a single policy
  • Can make changes as your needs evolve

Product available

Vision Death Coverage with Savings

Lets you make changes to your policy and add coverages or insureds, penalty-free

Offers a variety of investment options, including Desjardins Funds

Client services

Claims

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Assistance services

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Other applications and forms

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