Desjardins Life Insurance
Desjardins Financial Security is a leading life insurance company in Canada ranking first in Quebec and fourth overall in Canada. Desjardins life insurance Canada was established in 1948 providing life insurance policies only. It sold the life insurance for the next 40 years until 1999 when it introduced health insurance policies after the enactment of the ‘Respecting the distribution of financial products and services’ Act. Desjardins life insurance has acquired and merged with several companies including Laurentian Life and Health Insurance Corporation, Performa Financial Group, Eterna-Life Insurance and Imperial Life. In 2009, the Desjardins directors merged all their financial service business to have it run under the Desjardins Group. Though Desjardins life insurance is a predominantly life insurance company, it also provides other health related insurance policies including critical illness policy, disability insurance and healthcare insurance. The company head offices in Quebec and the Desjardins life insurance Ontario business is run from Desjardins life insurance Toronto offices.
Desjardins Life Insurance provides an array of life insurance policies. The term life insurance policy by Desjardins life insurance provides coverage at level premiums over a determined period of time of 1, 5, 10, 20 and 30 years. The policy is low priced as compared to the other types of life insurance but it significantly increases in premium rates at every policy renewal. However, insurance professional note that Desjardins term life is less competitive at certain ages. The Desjardins whole life insurance policy provides a lifelong insurance cover at a level and guaranteed premiums for the life of the policyholder. Desjardins is said to have some of the most flexible and diverse terms for the whole life insurance policy. Universal life insurance by Desjardins life insurance is also said to be more flexible compared to the competitors option. Their Universal life insurance policy allows for flexible premiums and the amount of premiums paid above the cost of the insurance is put in an investment plan that grows over the years.