Desjardins Life Insurance Review, Quotes, Phone Number 2024
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Discover the methodologyDesjardins Life Insurance offers a wide range of coverage options designed to meet the diverse needs of Canadians. Whether you’re looking for affordable term life, permanent coverage, or investment-focused policies, Desjardins has flexible plans to suit your goals. But is it the right choice for you?
In this review, we’ll cover everything from Desjardins term life insurance to permanent options, pros and cons, how to get Desjardins life insurance quotes and more.
You can also use our free online tool to compare life insurance quotes from Canada's top companies, helping you decide if Desjardins is the best choice or if another plan fits your needs better.
Desjardins Life Insurance: 7 Key Points
- Offers temporary, permanent, universal, and participating life insurance plans.
- Desjardins term life insurance in lengths of 10, 15, 20, 25 or 30 years, or up to age 65.
- Simplified life insurance with no-medical exam option for those above 50 years of age.
- Life coverage options up to $10 million.
- The largest credit union federation in North America.
- Short-term plans are convertible into long-term permanent coverage.
- Desjardins offers competitive life insurance rates.
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Our Desjardins Life Insurance Review: Diverse Plans and Financial Stability
Desjardins Life Insurance, part of the renowned Desjardins Group, offers a broad spectrum of life insurance products, making it a strong contender in the Canadian market. Whether you're looking for temporary protection with term life insurance, long-term security with permanent life insurance, or wealth-building options through universal or participating life insurance, Desjardins has tailored solutions. It offers comprehensive coverage options up to $10 million.
Desjardins term life insurance policies provide flexible coverage lengths, ranging from 10 to 30 years, and for up to those aged 65 years. While these plans are ideal for those needing coverage for specific periods—such as paying off a mortgage or covering children’s education—Desjardins' term life policies can also be renewed or converted into permanent life insurance, offering long-term flexibility.
Desjardins also offers simplified life insurance plans for seniors, with coverage available for individuals aged 50 and above, which is a great advantage for those who may have difficulty qualifying for traditional policies. These plans are quick to apply for and provide no medical exam policies, although coverage amounts are more limited compared to their full-range options.
Participating life insurance is another standout product, allowing policyholders to earn dividends that can be reinvested or withdrawn, offering a unique benefit not found in many term or whole-life policies.
However, compared to some competitors like Sun Life Insurance or Manulife, Desjardins' life insurance options are often seen as slightly more expensive. Desjardins focuses on providing a strong balance between affordable premiums and comprehensive coverage, but customers who are primarily looking for the most budget-friendly options may find other insurers more appealing for similar coverage.
Still, Desjardins' financial strength, backed by its position as one of Canada’s largest cooperative financial groups, makes it a reliable choice. Its A.M. Best rating further solidifies its standing as a financially secure option, which is especially reassuring when considering life insurance, a long-term commitment.
Overall, Desjardins Life Insurance stands out for its diverse portfolio of options, financial strength, and solid customer service. If you're looking for a reliable, flexible, and comprehensive life insurance solution, Desjardins may be right for you. However, if you’re in search of lower premiums or greater customization, providers like Manulife Insurance or Canada Life may provide additional options worth considering.
Expert advice
Desjardins offers a full range of life insurance products, covering a wide variety of needs, from young families seeking temporary protection to seniors looking for simplified solutions. Universal life and participating life insurance are designed for those who want to maximize their wealth while enjoying lifetime protection. However, for those seeking simplified insurance solutions with higher coverage limits, some competing offers may provide more advantageous options.
If you'd like to see how Desjardins fares against other providers, you can use our comparator below. You can get free life insurance quotes and compare coverages from the best life insurance policies in Canada, all right here.
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Pros of Desjardins Life Insurance
- Long and reputed history with strong financial standing
- Desjardins term life insurance offered in multiple lengths of 10, 15, 20, 25 or 30 years, or up to age 65
- Wide range of products
- Option to convert the short-term products into long-term products
- Allows multiple applicants on a policy
- Good add-on riders
- Accepts applications from non-residents of Canada
Cons of Desjardins Life Insurance
- Cheaper term options available from some competitors
- You cannot get Desjardins life insurance quotes online
- Quotes and detailed policy information require speaking to an advisor
How to contact Desjardins Life Insurance?
Since Desjardins life insurance policies require you to speak to an advisor for both detailed policy information and quotes, you must know all the ways to contact them. Here they are:
| Service Type | Desjardins Life Insurance Customer Care Details |
|---|---|
| General Inquiries on the Desjardins Life Insurance Phone Number | 1-866-838-7553 Hours: Monday to Friday, 8 AM to 5 PM (Eastern Time) |
| Claims Assistance | 1-866-838-7661 Hours: Monday to Friday, 8 AM to 7 PM (Eastern Time) |
| Group Insurance Members | 1-800-263-1810 Hours: Monday to Friday, 8 AM to 8 PM (Eastern Time) |
| Email Inquiries | [email protected] |
| Fraud Reporting | 1-866-692-7227 Email: [email protected] |
What types of life insurance does Desjardins offer?
Desjardins offers a wide range of life insurance coverage options to meet the diverse needs of its clients, including:
- Desjardins Term Life Insurance
- Permanent Life Insurance
- Life Insurance for 50 and Above (No Medical Exam)
- Participating Life Insurance
- Universal Life Insurance
| Life Insurance Product | Maximum Coverage Amount | Coverage Duration | Eligibility Age |
|---|---|---|---|
| Desjardins Term Life Insurance | Provided upon request | 10, 15, 20, 25 or 30 years, or up to age 65 | Up to age 65 |
| Desjardins Permanent Life Insurance | Provided upon request | 10, 15, 20 years, until age 65 or 100 years | Ages 50 to 75 |
| Desjardins Life Insurance for 50 and Above (No Medical Exam) | $5,000, $7,500, $10,000, $15,000 or $20,000 | Lifetime | Ages 50 to 75 |
| Desjardins Participating Life Insurance | Provided upon request | Lifetime | Unlimited |
| Desjardins Universal Life Insurance | Provided upon request | Lifetime | Unlimited |
Good to know
Desjardins also offers Mortgage Life Insurance, which provides both life and disability coverage.
Desjardins Term Life Insurance
Here are some key points to keep in mind when considering Term Life Insurance from Desjardins:
- Choose between terms of 10, 15, 20, 25, or 30 years.
- Available up to age 65.
- Automatically renews annually.
- You can convert to permanent life insurance at any time.
- You can add options like:
- Accident: Protects your children in case of an accident.
- Disability: Pays your premiums for 5 months if you're unable to pay.
Desjardins Term Life Insurance is ideal in certain situations, such as if you need affordable, temporary coverage to maintain your family's lifestyle and cover any debts in case of your death.
Desjardins Permanent Life Insurance
The Desjardins Permanent Life Insurance plan offers lifelong coverage. Premiums remain the same throughout your policy, and your beneficiaries are covered regardless of when you pass away. This policy also accumulates cash value that can be accessed if you need liquidity.
Reasons you might consider Desjardins Permanent Life Insurance:
- Lifetime protection, regardless of health changes.
- Guaranteed premium costs.
- Increasing cash value.
- Tax-free lump sum payout to beneficiaries, available within one month of death.
Desjardins Life insurance over 50
50+ Life Insurance is specifically designed for individuals aged 50 to 75, offering a straightforward and budget-friendly option for those seeking lifetime coverage. It ensures that your loved ones are financially supported after your passing, covering essential expenses and providing peace of mind.
Here's why you may want to consider this option if you're over 50:
- Multiple Insurance Amounts: Choose coverage from $5,000, $7,500, $10,000, $15,000, or $20,000.
- Extra Payout: In the event of accidental death before age 85, your loved ones will receive 5 times the insurance amount.
- Advance Payment: If your life expectancy is less than 2 years, you may receive up to 50% of the insurance amount.
- Assistance Services: Access support for daily activities or during difficult times.
- Quick and Easy to Buy: The application process takes just minutes over the phone.
- No Medical Exam: Simply answer 4 health questions to see if you're eligible.
- No Waiting Period: Coverage starts immediately, with no delay in protection.
- Attractive Premiums: Premiums remain the same, regardless of your age.
You can download a sample Desjardins life policy for those over 50 here.
Good to know
You also get additional support to help you during challenging times. You can access psychological assistance to speak with a specialist for emotional support, either in person or over the phone. Convalescence assistance provides case management and recovery resources following illness, surgery, or an accident. Additionally, estate settlement assistance offers legal advice from a certified lawyer to help with settling your estate.
Desjardins Participating Life Insurance
Desjardins Participating Life Insurance provides guaranteed coverage with the option to participate in dividends. A portion of your premiums is used as an investment, which is managed by Desjardins' asset management experts. This type of coverage offers both guaranteed values (like cash value, cost, and coverage amount) and non-guaranteed values (like dividends).
By choosing Desjardins Participating Life Insurance, you can:
- Accumulate tax-deferred funds and access them while you're alive.
- Increase your wealth over time.
- Withdraw the accumulated amount if desired.
This is a solid option for those looking for long-term protection, investment growth, and tax advantages.
Desjardins Universal Life Insurance
Desjardins Universal Life Insurance is a permanent life insurance option that combines life coverage with an investment component. It allows you to grow your savings with tax-deferred benefits.
Features include:
- Choose from over 30 investment options.
- Ability to modify your contract after 5 years without penalties.
- Pay premiums over 10 or 20 years or a fixed price for life.
- No fees after 5 years if you wish to change your contract due to life changes.
Reasons to choose Desjardins Universal Life Insurance:
- Flexible, affordable, and customizable.
- Offers real investment options with tax advantages.
- You can invest your premiums in various investment vehicles and access the funds as needed.
What does Desjardins Life insurance cost?
The price of life insurance, whether with Desjardins or another provider, depends on several factors:
- Age
- Gender
- Whether or not you are a smoker
- Amount of life insurance coverage you wish to purchase
- Add-ons or riders if any
Desjardins life insurance quote based on age
Let us take a look at the rates for Desjardins term life insurance for a non-smoking 25-year-old woman purchasing $250,000 coverage.
| Term | Monthly | Annually |
|---|---|---|
| 10 years | $12.05 | $134.00 |
| 20 years | $16.07 | $178.50 |
| 30 years | $20.32 | $225.75 |
| To 65 | $24.10 | $267.75 |
Good to know
The above rates are estimates. For accurate, personalized rates speak with a life insurance agent on the Desjardins life insurance phone number for queries: 1-866-838-7553.
Desjardins life insurance quote based on type of coverage
| Type of Desjardins Life Insurance | Insured Profile | Premium/month for 2024 |
|---|---|---|
| Desjardins Term Life Insurance |
|
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| Permanent Life Insurance |
|
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| Desjardins Universal Life Insurance |
| $600/year* for $100,000 coverage (premium can vary between $300 and $600) |
These prices are indicative and may not reflect your personal situation or savings goals. Therefore, we recommend using our online life insurance comparison tool to get multiple free quotes from Canada's best providers.
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How do I get a Desjardins Life insurance quote?
For a Desjardins life insurance quote, call 1-866-838-7553 or schedule a time through its website for a representative to call you.
If you want to estimate how much insurance is appropriate for you, try our free life insurance calculator. Once you're done it's easy to start comparing quotes from different insurance providers so that you can come to the right decision.
Desjardins offers a similar tool to calculate your life expectancy tool on its websites to estimate how much income you’ll need in retirement. All you need to do is answer some quick questions about your age and health.
Before settling on Desjardins, or any life insurance provider, it pays to compare the competition. Canada has a wealth of life insurance providers and they are easy to compare right here using our free comparator tool below. All you need to do is enter basic information on what you're looking for, and voila, you get free quotes from over 20 life insurance companies in a few seconds.
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How to use your Desjardins Life Insurance login?
Desjardins Life Insurance Canada offers an opportunity to easily and quickly manage your insurance online. Whether you want to check your policy or make a claim, simply login using the credentials. They will also guide you to the Desjardins life insurance claim forms so that you can choose the right form and submit it online.
It will only take a few minutes to complete the Desjardins life insurance forms for claims. An easy claims process has been appreciated in some Desjardins life insurance reviews.
Good to know
The services and claim section for the Desjardins life insurance plan member is different if you are or will be one. Desjardins life insurance plan member refers to an individual who holds a group insurance policy with Desjardins. Plan members are individuals covered under group insurance plans, which may include various types of coverage such as health, dental, disability, life, and more. These plan members can access online services, submit claims, check their coverage, and manage their group insurance through Desjardins' secure online platform.
How to file a Desjardins life insurance claim?
To file a life insurance claim with Desjardins, follow these steps:
- Call Desjardins at 1 888 558-5525. (For a 50+ Life Insurance claim, call 1-877-838-7617)
- You will receive a list of the documents to send.
- Return the documents along with the signed claim form.
There are different forms depending on the type of claim. For instance, Desjardins term life insurance claims have specific forms that are different from that of health claims. So make sure you fill out the right form.
How are Desjardins life insurance reviews from customers?
Desjardins Life Insurance is part of Canada's largest cooperative financial group. The company is frequently ranked among the world's 50 safest banks and financiers, reflecting its strong financial stability, supported by an AA rating, which indicates a high level of creditworthiness. These ratings suggest that Desjardins is a reliable choice for those seeking secure life insurance options.
Customer reviews are generally positive, with many appreciating Desjardins' solid reputation and diverse coverage options. The company is also praised for its customer service. However, some customers have noted that premiums can be higher compared to competitors, and the limited access to online quote tools may be inconvenient for those seeking more digital accessibility.
Overall, Desjardins Life Insurance is viewed as a trusted insurer, but those looking for lower rates or a more seamless online experience might want to explore other options. You can compare life insurance quotes for free using our free tool below. It's easy to use and gives you instant results.
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