FAQ - Life insurance

Premiums are based on the following factors:

• Your age
• Your sex
• Your smoking status
• How much coverage you choose

As a result, the cost differs from person to person. You may also be able to get a better rate if you combine multiple insurance products. Meet with a representative Open in a new window.

to go over your financial needs and calculate what insurance will cost you.

Depending on what product you choose, there are options to adapt your coverage to your needs. For example, you can convert a term life insurance policy into a permanent policy so that you maintain lifetime coverage without having to provide new proof of good health.

Your representative can go over your coverage with you to make sure what you have continues to meet your needs.

You should choose an insurance amount that will meet your needs, starting from $10,000 and going up to several millions of dollars.

For example, let’s say you contribute $50,000 a year to your family’s household income. As a rule of thumb, 10 times your salary is a reasonable amount to maintain your family’s lifestyle in the event of your death. That means you’re looking at $500,000, including any group insurance coverage you might have.

And if you want to make sure your home is paid off, you should choose an amount that corresponds to your mortgage, if it isn’t already covered with loan insurance.

Meet with a representative Open in a new window.

to do a financial needs analysis and find out how much coverage you should buy.

Anyone who is a Canadian resident can buy life insurance provided they satisfy the eligibility conditions. The exact conditions depend on your age, the amount of insurance you want, your lifestyle, and your medical and family history.

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to find out what kind of custom insurance you qualify for.

Losing a loved one is one of the most difficult experiences most of us will face in life. While there’s nothing you can do to make your death easier on your loved ones, you can spare them the financial stress by having life insurance.

When a loved one dies, the expenses can add up:

• Funeral costs
• Taxes owing at death
• Debt repayments (e.g., credit cards, mortgage, personal loans)

You can also choose a life insurance amount that will make sure your loved ones won’t have to go into debt or sell off assets.

If you’ve accumulated a lot of wealth, a life insurance policy is a smart way to continue growing your assets and leave behind a tax-free inheritance for your loved ones.

Is there a charitable organization that means a lot to you, and one that you would like to support with a donation? Do you also want to leave your estate to your loved ones?

Planned giving with a life insurance policy from Desjardins Insurance lets you do both! With this strategy, you can make a generous donation to the charity of your choice while benefiting from tax savings, either now or on your final tax bill.

You have two choices:

• Gift a new policy to the charity of your choice right away, or
• Designate the charity as the beneficiary of your policy’s death benefit

You can customize these 3 types of coverage based on your needs and budget.

Basic life insurance is a permanent policy that’s simple, requires no medical exam and can be purchased over the phone.

Meet with a representative Open in a new window.

to find out what kind of life insurance is the best fit for your situation and your needs.

Custom life insurance is designed to be sold via a representative. They have the knowledge and expertise to properly assess your needs and recommend the right product for your situation.

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today!

Alternatively, you can purchase any of these basic insurance products online or by phone: basic life insurance, Accirance accident insurance and GetWell critical illness insurance.

Yes! Depending on what product you choose, your insurance policy can also cover your spouse, your children or a business partner, for example. You can add people at any time.

Meet with a representative Open in a new window.

to find out more.