Desjardin Insurance Reviews

Desjardin Insurance Reviews

People take all the essential steps, to protect and save their life, from any unpredictable moment, right? So, when it comes to life insurance policies, for which people are quite selective because the life insurance policy not only protects the policyholder, but it also offers protection for their whole family. 

Here, selective in the sense, that they will look at a few more insurance companies, see their various plans and policies, and of course the price too, and then move further for selecting the best company, which is suitable to their needs and demands. 

In today’s world, there are so many insurance companies, that offer such kinds of insurance plans, and we are here to discuss, one such company, named, “Desjardin Insurance Company.” It is the most prominent insurance firm, which offers various life insurance policies, and various benefits too. 

So in this article, we will discuss all the essential info about the Desjardin Insurance Company, its pros, and cons, insurance products, its reviews, and more.

What is Desjardin Insurance?

Desjardin Insurance is one of the largest federations of credit unions in Canada. It was founded in the year 1900, and its headquarters are located in Levis, Quebec. The Desjardin stands in 5th position as a cooperative financial group all over the world. 

Desjardin offers a range of life insurance policies and fixed terms, such as lifestyle protection, Mortgage coverage, or children’s education. Not only that but it also offers several term options also like the 10-term policy, 20-term policy, 30-term policy, and the age -65 coverages.

The 10-year and 20-year term products offer some automatic renewable options until the policy gets over. The firm also offers a few business services including point-of-sale payments and cash management services to the business. 

In 2015, the company acquires the State Farm Insurance Company. Desjardin has a very strong networking partner, i.e. of more than 6000 financial advisors in Quebec, and Ontario. If you want to generate more information about the company, then you can visit its official website.

https://www.desjardinslifeinsurance.com and find all the information regarding the company’s background, its present scenario, and so on.

Merits and Demerits of Desjardin Insurance Company:

Merits of Desjardin Insurance Company:

  1. The company offers a wide range of benefits to their customer, and it also provides flexible terms and policies.
  2. The client can also obtain comprehensive protection by selecting any of the three insurance policies, i.e. Critical Illness, Disability Insurance, and Whole Life Products. 
  3. One life insurance policy covers many benefits to whole family members.
  4. You can easily convert your short-term insurance products into long-term insurance.
  5. It accepts applications from non-residents of Canada too.
  6. The clients who are not able to come for personal visits to the company, so for them also open several online services and account access permission.
  7. Digital e-policy is also offered by the company. 
  8. People are not able to buy such expensive policies, so for them, the company also offers various discount options, which can easily connect them with all the needy clients.

Demerits of Desjardin Insurance Company:

  1. The company only offers four life-term insurance policies.
  2. Many affordable premiums are also offered by their competitors. 

So, these are a few advantages, and disadvantages that all have to consider before taking the policies from this insurance firm.

Products Offered by the Desjardin Insurance Company:

The company offers mainly four different terms of insurance products to their clients. Now, let’s see all four insurance products and their services. 

  • Term 10 Insurance Policy:
  1. The term 10 insurance policy is renewed automatically after every 10 years, up to the age of 85.
  2. This term holder also gets the benefit to exchange their term 10 insurance policy, with the term 20, or term 30.
  3. It is easily convertible to permanent insurance until the age of 70. 
  • Term 20 Insurance Policy: 
  1. This term insurance policy is also automatically renewable up to the age of 85.
  2. The client can exchange it with any other higher-term life insurance policy.
  3. You can convert it with your permanent insurance policy until the age of 70. 
  • Term 30 Insurance Policy:
  1. It can be renewed once the 30 years of policy is completed.
  2. You cannot go for exchanging this term with any other policies.
  3. The client can convert this policy term into permanent until the age of 70.
  • Term-to-age-65:
  1. You cannot renew this term policy.
  2. Not allowed for exchanging the policy.
  3. Easily convertible for permanent insurance till the age of 60.

Interesting Benefits of Term Life Insurance Offered by the Desjardins Insurance Company:

  • Insurability Option:
  1. The couples or any business partners can split a joint coverage option into an individual permanent policy.
  2. This benefit is only available in term 10, term 20, and term 30 insurance policies.
  • Association Option:
  1. A policyholder can convert any of their term policies into permanent term policies, by adding a new insurance policy to it. This option can be used to cover all the other estates’ taxes or leave a legacy.
  2. Only available to all four main life insurance terms.

Optional Riders: 

The Desjardin Insurance Company offers different ranges of riders, such as;

  1. For Children’s Protection.
  2. Accidental Death and Dismemberment.
  3. Disability Waiver of Premiums.
  4. Guaranteed Insurability Benefits.

Other Products and Services Offered by the Desjardin Insurance Company:

Other than term insurance policies, the Desjardin Insurance Firm offers several types of life insurance products, and a few other options too, including;

  • Permanent Life Insurance:

Permanent Life Insurance means it is a lifetime policy, that secures the candidates from any unpredictable moments until they die.

Here, are some of the types of coverages that are offered by Permanent Life Insurance Policies, such as;

  • Basic Coverages:
  1. The Basic coverage is available to those whose ages are between 50 to 75.
  2. It does not include any of the medical examination, or guaranteed benefits, even if the policyholder, dies between the two years of purchasing the policy.
  3. The policyholder also gets 5X accidental death benefits under this coverage.
  4. Basic coverages include the advanced payment method of up to 50% on the accidental death benefits.
  5. The accidental death benefits amount is varied for each individual, and it depends upon their policy taken, i.e. some get benefits of $5,000, $7,500, $15,000, or even some also get $20,000.
  • Personalized Coverages:
  1. It gives guaranteed premiums to all the policyholders, to pay over the 10,15,20, or until the age of 65, 100.
  2. The benefits amounts are ranges from $1,000 to $10,000,000.
  3. This coverage also offers various preferable rate options, and also additional tax savings with the help of a charitable contribution plan.

So, these both are the list of coverages that are offered by the permanent life insurance policy.

  • Participating Life Insurance:
  1. It is lifelong coverage, which includes several taxes advantages, and also cash value advantages to their policyholder.
  2. The policyholder can only use this if they have 20 term year plan or 100 term year plan.
  3. It gives guaranteed accidental benefits.
  4. You can use your dividends to purchase additional life insurance or annual premiums.
  5. It helps you to maintain some of the coverage, even if you stop paying the premiums for your life insurance policy.
  • Universal Life Insurance:

Universal Life Insurance is a type of permanent life insurance, which will offer you an option for investing the cash value of your life insurance policy.

Desjardin Insurance, a universal life insurance policy, is itself the best option for all those people who want to reduce their tax burdens. The Universal Life Insurance policyholder can easily make a change in this insurance policy, once they completed the 5 years of this coverage. 

The company offers a variety of choices, over 30 diversified investment options, for all its clients.

  • Critical Illness Insurance:

Critical Illness Insurance is a type of insurance policy, that protects the policyholder’s life from any critical diseases, such as cancer. This is available after 30 days from your first diagnosis of cancer, or after 90 days of it. Critical Illness Insurance coverage is available for a longer period of time.

Desjardin Insurance offers maximum coverage for Critical Illness is $2.5 million. The best thing about Desjardin Critical Illness Insurance is that it has covered 26 critical illnesses coverages, and stood at the first position in the critical coverages industry amongst others.

It also offers coverages for loss of independent existence. And also offers partial payouts, depending upon various conditions. The payout of the policy is 15% for up to $50,000, and 1% for up to $5,000.

  • Disability Insurance:

Disability Insurance is useful to a person who is suffering from a loss of income. For all those Disability Insurance takers, the Desjardin offers several coverages options, such as;

  1. The main thing about this is that it is only available for Canadians up to the age of 65.
  2. It offers income replacement up to $200 to $10,000 depending upon the age criteria and individual occupation.
  3. The benefit period of this coverage is 2 to 5 years, until the age of 65 or 70.
  4. The client can also incur the monthly benefits without paying any extra for medical.
  5. If any policyholder, is planning to cancel this policy, then the company gives them a partial refund of the amount of the premiums.

Other than these services, the Desjardin Insurance Firm, also offers several other types of products, including: 

  • Health Insurance Policies.
  • Auto Insurance Policies.
  • Pet Insurance Policies.
  • Home Insurance Policies, etc.

Customer Reviews of Desjardin Insurance Company:

We already know that people have very different thoughts and perceptions about one particular thing. So, there are many people who have positive reviews about the company, and on the other hand, there are people who have negative reviews too about the same insurance company.

So, let’s see some of the positive and negative reviews of the Desjardin Insurance Company:

Positive Review:

  • One of its clients, shared reviews, and mentioned, an excellent service tag to the company and says that the staff is very friendly and very prompt to answer their every query.
  • The other user has mentioned, that the staff is very knowledgeable, and the company also helps to clear our claims easily without taking more time.

Negative Review:

  • One of the disappointed customers, says that the company took lots of time to investigate any auto car insurance accidental case.
  • Another client has given their review about the company and says that it has very poor customer service. 

So, these are both the positive as well as negative reviews about the Desjardin Insurance Firm, from the sides of their customers.

Conclusion:

Desjardin Insurance Company is one of the outstanding and experienced insurance companies, that offers the best life insurance policies to their customers. Not only the life insurance policy also offers the best Critical Illness Insurance Policies, and it is the one that has given almost 26 critical illness insurance policies amongst the other insurance company.

With the help of this article, we have discussed all the essential information about the Desjardin Insurance Company, its merits, and demerits, the list of products and services offered, and the customer reviews too.

As per my suggestion, if you are looking for the best life insurance policy, then you must go to this company’s website link, which is already mentioned above in this article, and know the other benefits and advantages of taking the life insurance policy from Desjardin Insurance Company.2

Leave a Comment