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Health and disability insurance

Key features and comparison table

Health and disability insurance give you the financial flexibility you need to keep your business running smoothly in the event of a health problem.

See which type of product is best suited to your needs.

Disability insurance (income) Critical illness insurance Long-term care insurance Healthcare insurance
c20-invalidite-salaire b20-assurance-maladies-graves b20-assurance-soins-lng-duree b20-assurance-soins-sante
Meet your financial obligations if you can't work because of an accident or illness Avoid the financial stress related to a serious illness like cancer or a stroke, while ensuring your business carries on as usual during your absence Avoid having to dip into your retirement savings if you lose your independence due to an illness like a stroke or Alzheimer's disease Get reimbursed for healthcare expenses not covered under government plans (dental care, vision care, alternative medicine, etc.)
It's the right choice for you if:
  • You're in business with partners or you're self-employed
  • You don't have group insurance coverage
It's the right choice for you if:
  • You want to protect yourself and your business against the financial consequences of a critical illness
  • You want to retain a key employee
It's the right choice for you if:
  • You want access to the best healthcare available if you lose your independence
  • You want to maintain the inheritance you plan to leave to your loved ones
  • You don't want to be a burden on your family
It's the right choice for you if:
  • You're self-employed
  • You don't have group insurance coverage
Learn more - Disability insurance products Learn more - Critical illness insurance products Learn more - Long-term care insurance products Learn more - Healthcare insurance products

Compare the various types of health and disability coverages and their corresponding products.

Key features
Disability insurance (income) Critical illness insurance Long-term care insurance Healthcare insurance
Tax-free monthly benefit based on a percentage of your income (generally between 60% and 85%) Tax-free lump-sum benefit Tax-free monthly benefit Tax-free benefits generally paid as a reimbursement
Cost based on: job risk, benefit payment period, age, etc. Cost based on: duration, insurance amount, age, sex, etc. Cost based on: age, duration and benefit amount selected Cost based on: type of coverage selected (individual, family, couple, etc.) and age
    You don't need to submit any receipts to receive your benefit Payable when you submit your receipts
Learn more - Disability insurance Learn more - Critical illness insurance Learn more - Long-term care insurance Learn more - Healthcare insurance
Products available
Disability insurance (income) Critical illness insurance Long-term care insurance Healthcare insurance

Vision Disability - Income

Helps make up for lost income related to your disability

Coverage designed especially for salaried employees and self-employed workers earning less than $45,000 a year

Vision Disability - Regular Expenses

Helps cover your everyday expenses (rent, groceries, etc.) as a supplement to other benefits you're receiving

Select Disability Income

Helps make up for lost income related to your disability and is designed especially for salaried employees, self-employed workers and entrepreneurs earning $45,000 or more a year

Select Business Expense

Helps cover operating expenses (rent, heat, taxes, etc.) in the event of a disability to offset lost income

Vision critical illness product line

Includes coverages that pay a benefit in the event of a critical illness (up to 33 covered illnesses) and reimburses certain homecare expenses

Also provides help coordinating homecare based on your individual needs

Vision Duo Solution

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

Guaranteed surrender values

Vision Independent Lifestyle Solution

Pays a monthly benefit in the event of a loss of independence and offers accident coverage. Also reimburses the costs of an enduring power of attorney (notarized mandate in case of incapacity in Quebec)

Offers a 10% discount if you and your spouse buy this coverage at the same time

Vision Healthcare coverage

Choose from a wide range of healthcare options:

  • Hospital and paramedical care
  • Prescription drugs
  • Dental care

Vision Hospitalization coverage

Offers a daily benefit for each day of hospitalization or reimburses convalescence expenses

Disability insurance (income)

Disability insurance helps you meet your financial obligations by replacing your income if you have to stop working as a result of an accident or illness.

It also allows you to protect your business by providing you with cash right when you need it the most, for example, to cover some of your operating expenses (rent, heat, electricity, taxes, etc.) in the event of disability.

This type of insurance meets your needs if:

  • You don't have group insurance
  • You want to protect yourself and your company, partners and key employees against the financial impact of a disability

Features

  • Pays a monthly benefit in the event of disability
  • Benefit amount is based on a percentage of your regular earnings (salary, commissions, etc.)

Products available

Helps make up for the loss of income related to a disability. Coverage designed especially for salaried employees and self-employed workers earning less than $45,000 a year

Helps cover your everyday expenses (rent, groceries, etc.) as a supplement to other benefits you're receiving.

Helps make up for lost income related to your disability and is designed especially for salaried employees, self-employed workers and entrepreneurs earning $45,000 or more a year

Helps cover operating expenses (rent, heat, taxes, etc.) if you become disabled.

Did you know?

During your working life, you have a 50% chance of becoming disabled for more than 5 months1

1. " L'Assurance invalidité, talon d'Achille de la planification financière " [Disability insurance: the Achilles heel of financial planning], Les Affaires, March 2006.

Critical illness insurance

Critical illness insurance provides you with cash when you need it the most, for example, to ensure your business continues to run smoothly if you or one of your partners is diagnosed with a critical illness. And because it provides attractive benefits, it's also a good way to retain your key employees.

This type of insurance meets your needs if you want to protect yourself and your company, partners and key employees against the financial impact of a critical illness.

Features

  • Pays you a set benefit amount during your lifetime following the diagnosis of a covered critical illness or surgical procedure
  • Tax-free benefit that can be used as you see fit and allows you:
    • To avoid using savings intended for business projects or your retirement
    • To compensate for your company's lost productivity or to hire a replacement
  • Option to get all or some of your premiums back at the end of the policy period, or if you die while the policy is in force or you terminate the coverage

Products available

Includes coverages that pay a benefit in the event of a critical illness (up to 33 covered illnesses) and reimburse certain homecare expenses

Also provides help coordinating homecare based on your individual needs

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

Guaranteed surrender values

Long-term care insurance

You may someday need long-term care because of an accident, illness or your age. This can have significant consequences on your family, assets, possessions, and even your business.

Long-term care insurance provides you with a monthly income in the event of a loss of physical or mental independence. This cash can help you pay for expenses not covered by the public health system, so you don't have to dip into your personal savings or jeopardize your business if you're still actively working at the time.

This type of insurance meets your needs if:

  • You want to avoid dipping into your savings in the event of a health problem
  • You want to maintain the inheritance you plan to leave to your loved ones
  • You don't want to be a burden on your family in the event of a loss of independence
  • You'd like to be able to choose the type of care you'll need and stay in your own home for as long as possible

Features

  • Pays a tax-free monthly benefit after you've been diagnosed with a loss of independence
  • The benefit can be used as you see fit:
    • No need to submit receipts
    • Doesn't matter where you live (at home, in a private home or a long-term care facility)

Product available

Pays a monthly benefit in the event of a loss of independence and offers accident coverage. Also reimburses the costs of an enduring power of attorney (notarized mandate in case of incapacity in Quebec)

Offers a 10% discount if you and your spouse buy this coverage at the same time

Did you know?

Thanks to medical advances, people are living longer than ever. According to Statistics Canada, life expectancy is age 83 for women and age 78 for men1. Keep in mind that the older you get, the greater your chances are of losing your independence:

Age Dependent seniors2
65 to 74 1 in 3
85 and over 4 in 5

If one day you need help with simple, everyday activities, who will look after you? In 90% of cases, the people who end up providing care are spouses, children, or other family members3.

1. Source: « Perspectives démographiques, Québec et regions » [Demographic perspectives of the province of Quebec], Institut de la statistique du Québec 2001.

2. Source: Quebec's Ministère des Finances, February 2005.

3. Source: " The sandwich generation ", Canadian Social Trends, Summer 2005, no. 77.

In Ontario, these products are sold by life and health insurance representatives employed by Desjardins Financial Security Life Assurance Company. In Quebec, they're sold by financial security advisors employed by Desjardins Financial Security, Financial Services Firm.

Healthcare insurance

Healthcare insurance pays for healthcare expenses not covered by government health plans (prescription drugs, dental care, etc.).

This type of insurance meets your needs if:

  • You want coverages similar to what's offered by a group insurance plan
  • You're looking for a way to retain your key employees, because of the attractive benefits it offers

Features

Helps pay for healthcare expenses that are piling up on top of your everyday expenses:

  • Hospitalization in a semi-private room
  • Prescription drugs (in Quebec, this complements the public prescription drug insurance plan)
  • Nursing and ambulance services
  • Therapeutic devices like orthotics and prosthetics
  • Services from healthcare professionals like physiotherapists, chiropractors, homeopaths and psychologists
  • Dental care, etc.

Products available

Helps reimburse healthcare expenses for:

  • Hospital care
  • Paramedical care
  • Prescription drugs
  • Dental care

Offers a daily benefit for each day of hospitalization or reimburses convalescence expenses

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