Desjardins Disability Insurance Review: Is It Right For You?
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Long-term disability insurance is a powerful tool for assuring that your and your family’s financial future will be secure.
If an illness or injury were to prevent you from working for an extended period or permanently, an individual LTD insurance policy can make a big difference. Long-term disability policies in Canada may replace up to 85% of your previous monthly income, more than enough to keep your mortgage paid and family secure while you concentrate on getting better.
This page breaks down Desjardins’s disability insurance products. See our review, coverage options and much more.
Who is Desjardins?
Desjardins Insurance is a subsidiary of Desjardins Group, the Canadian financial service and credit union giant. While it is most present in Ontario and its home province of Quebec, its services are widely available throughout Canada.
Desjardins Insurance is one of Canada’s best-known life and health insurance brands. They offer a wide range of other insurance products, like disability insurance, which we will take a look at below. After acquiring State Farm insurance, it is also one of the country's largest property insurers.
Certas Direct Insurance Company underwrites all Desjardins Insurance policies.
Why sign up for Desjardins disability insurance?
A LTD policy from Desjardins will:
- Provide a monthly income for you and allow you support your lifestyle financially in the event illness or injury prevents you from working in the future.
- Give you the means to keep paying your mortgage.
- Pay for day-to-day expenses.
- Protect your savings and those of your household.
Desjardins provides multiple disability insurance products. An insurance broker or Desjardins advisor can help you to pick coverage that fits your needs and profile.
To compare Desjardins's offer with other disability insurance plans in Ontario, British Columbia, Alberta and beyond, shop around using our free online comparison tool below:
Get a free disability insurance quote
Our Desjardins disability review:
Desjardins is a major insurance provider in Canada, but not every plan is perfect for everyone. Here is what we like about Desjardins’s disability insurance offer and what to keep in mind as you compare coverage options.
Pros of Desjardins disability insurance:
Reputation - one of Canada's top insurance companies
Up to $10 000 monthly disability benefit (Solo Disability Income)
Includes Critical illness benefit (Solo Disability Income)
Coverage up to 69 years for accidents and 64 years for illness, higher than most competitors (Solo Essential Disability Income)
Receive a 50% partial benefit if you are able work part-time
Own occupation coverage available
Return of premiums (up to 50%)
Extend coverage if you work past 65 years old
Cons of Desjardins life insurance:
Purchase requires an advisor
Minimum hours worked is higher than some competitors
Catastrophic disability coverage not included
Good to know
Disability insurance can be a confusing topic since it includes public programs and private insurers who provide short-term and long-term coverage. Need some help? Our guide to disability insurance has you covered.
What disability insurance plans does Desjardins offer?
Desjardins Insurance offers two types of disability insurance plans: Solo Disability Income and Solo Essential Disability Income.
- Solo Disability Income - This provides up to a $10 000 monthly disability benefit (Occupational Class 4A). It's a nice option for self-employed people, business-owners and others who may not get a disability insurance benefit through an employer.
- Solo Essential Disability Income - This plan provides a monthly disability benefit of a minimum of $500 up to $6000 (Occupational Classes 1 and 2). Accident coverage is available with just 3 pre qualifying exam and no exam. Many people who may not usually qualify for disability insurance may be eligible for this plan.
For more on Desjardins's disability insurance see the pdf below.
How do I apply for Desjardins insurance?
Apply for disability insurance from Desjardins by speaking with one of their advisors at 1-844-838-7661 or by requesting an appointment on their website.
You may compare disability insurance offers on HelloSafe's website to be put in contact with an disability insurance expert.
Get a free disability insurance quote
How much does Desjardins disability insurance cost?
Unfortunately, it is difficult to provide a price range for Desjardins disability insurance. Disability insurance pricing varies widely based on the following factors
- Age
- Health
- Occupation
- The amount of disability coverage desired
- The waiting period you choose
For general information, the table below summarizes the average price of disability insurance with a 90-day waiting period for various ages and coverage amounts. This is meant solely to provide a rough indication before speaking with an advisor and your pricing will vary.
| Age of policyholder | Monthly benefit desired | Approximate monthly price |
|---|---|---|
| 20 | $2000 | $19 |
| 20 | $4000 | $39 |
| 30 | $2000 | $24 |
| 30 | $4000 | $48 |
| 40 | $2000 | $50 |
| 40 | $4000 | $102 |
| 50 | $2000 | $62 |
| 50 | $4000 | $126 |
Ready to get real quotes on a disability insurance plan that works for you?
Get a free disability insurance quote
How do I contact Desjardins’s life insurance?
Need to reach Desjardins because of a policy question, claims request or to inquire about a policy? Here's how:
New clients may reach a Desjardins representative at 1-888-838-7553.
Existing clients my contact Desjardins Insurance at 1-888-588-5525 anytime from 8am to 5pm Monday through Friday for information about their policy.
