Savings-Life Insurance

Savings-Life Insurance

Coverage linked to your Desjardins account

  • Basic life insurance to cover core needs
  • Cancer coverage
  • First 3 monthly premiums refunded1

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How does it work?

  • Up to $25,000 in life insurance to help ease the financial impact of your death on your loved ones (funeral costs, final expenses) and even leave something behind for them
  • Up to $6,250 in cancer coverage to help you deal with the financial consequences of a cancer diagnosis (such as tests at private facilities, travel expenses, childcare and caregiver costs)
  • First 3 monthly premiums refunded by your caisse1
  • Find out right away if you're eligible for coverage
  • Tax-free benefit payments
  • Affordable premiums, since Savings-Life Insurance is a group insurance product

3 services included:

  • Psychological assistance: confidential support from a psychological health specialist to help you through difficult times
  • Legal assistance: information about your rights and options to help you resolve legal problems
  • Convalescence assistance – case management: assistance by phone from a team of healthcare specialists and assistance coordinators while you recover
  • You must meet the following 4 criteria:
    1. You have an individual or joint qualifying share account, everyday account or regular savings account.
    2. You're under 70 when you take out the insurance.
    3. You must be a Canadian resident (that means you're legally authorized to reside in Canada and you live there at least 6 months a year). If you aren't a Canadian resident, you must meet the following 3 criteria:
  • Be authorized to reside in Canada and have come to Canada with the intention of settling here, and
  • Be enrolled in a federal/provincial/territorial immigration program, and
  • Have a valid study permit or work visa showing that you'll stay in Canada long enough.
  1. Your answers to the questions on the insurance application show you're eligible for coverage.
  • For joint accounts, each account holder must meet these 4 conditions. If 1 account holder is insured, the other must be, too.
  • You can insure multiple accounts with Savings-Life Insurance:
    • Qualifying share (membership share) accounts: up to $25,000 in life insurance and $6,250 in cancer coverage per account
    • Personal chequing accounts: up to $25,000 in life insurance and $6,250 in cancer coverage per account
    • Regular savings accounts: up to $10,000 in life insurance per account (no cancer benefit)
  • Total payable for all insured accounts combined is capped at $75,000 (life insurance) and $18,750 (cancer benefit).
  • Insurance amounts vary based on account type and on the age of the insured person when they die or when they receive a cancer diagnosis (as of June 1, 2016).
  • To help keep costs affordable for older insureds, who generally need less coverage, insurance amounts start decreasing at age 70.
  • The monthly premium is automatically debited from your account.
  • How much you pay depends on how old you are—whenever you enter a new age range, your premium will change.

For a full list of conditions, consult the insurance policy available at your caisse or the Savings-Life Insurance Documents (PDF, 1.03 MB) This link opens in a new window..

To learn more about your coverage if you're diagnosed with cancer, refer to the Cancer Diagnosis Coverage Guide – Savings – Life Insurance (PDF, 247 KB).

Legal notice

The information on this site is intended to help you understand the product by providing a simple, clear summary of the nature and conditions of the insurance. Only the policy and the insurance application will be used to settle legal disputes. Refer to the insurance policy for a full list of terms and conditions.

Contact us

Client services


Assistance services

Access free psychological, legal or convalescence services.


To change your address, send your new information to your caisse.

1. If you take out Savings-Life Insurance when opening a qualifying share (membership share) account.