Desjardin Insurance Reviews
People take all the essential steps to protect and save their lives from any unpredictable moment, right? So, when it comes to life insurance policies, people are quite selective because the policy not only protects the policyholder but also offers protection for their whole family.
Here, they are 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 on to select the best company that is suitable to their needs and demands.
Today, many insurance companies offer various insurance plans, and we are here to discuss one such company: “De” Jardin Insurance Company.” I” is the most prominent insurance firm that offers various life insurance policies and various benefits.
In this article, we will discuss all the essential info about Desjardin Insurance Company, its pros and cons, insurance products, reviews, and more.
What is Desjardin Insurance?
Desjardin Insurance is one of the largest credit union federations in Canada. It was founded in 1900 and has its headquarters in Levis, Quebec. Desjardin is ranked fifth as a cooperative financial group worldwide.
Desjardin offers a range of life insurance policies and fixed terms, such as lifestyle protection, Mortgage coverage, or children’s education. It also provides several term options, such as the 10-term policy, 20-term policy, 30-term policy, and age-65 coverage.
The 10-year and 20-year term products offer some automatic renewable options until the policy is over. The firm also provides a few business services, including point-of-sale payments and cash management services.
In 2015, the company acquired State Farm Insurance Company. Desjardin has a very strong networking partner: more than 6,000 financial advisors in Quebec and Ontario. If you want more information about the company, you can visit its official website.
https://www.desjardinslifeinsurance.com. Find all the information regarding the company’s ground, present scenario, etc.
Merits and Demerits of Desjardin Insurance Company:
Merits of Desjardin Insurance Company:
- The company offers its customers a wide range of benefits and flexible terms and policies.
- The client can also obtain comprehensive protection by selecting any of the three insurance policies: Critical Illness, Disability Insurance, or Whole Life Products.
- One life insurance policy covers many benefits to whole family members.
- You can easily convert your short-term insurance products into long-term insurance.
- It also accepts applications from non-residents of Canada.
- For clients who are not able to come for personal visits to the company, several online services and account access permissions are also opened for them.
- The company also offers digital e-policy.
- People cannot buy such expensive policies, so the company also offers various discount options, which can connect them with all the needy clients.
Demerits of Desjardin Insurance Company:
- The company only offers four life-term insurance policies.
- Their competitors also offer many affordable premiums.
So, these are a few advantages and disadvantages that all must consider before taking the policies from this insurance firm.
Products Offered by the Desjardin Insurance Company:
The company offers four main insurance products to its clients. Now, letlet’se all four insurance products and their services.
- Term 10 Insurance Policy:
- The term ten insurance policy is renewed automatically every ten years up to age 85.
- This term holder also benefits from exchanging their term ten insurance policy for a term 20 or 30.
- It is easily convertible to permanent insurance until the age of 70.
- Term 20 Insurance Policy:
- This term insurance policy is also automatically renewable up to age 85.
- The client can exchange it with any other higher-term life insurance policy.
- You can convert it with your permanent insurance policy until you are 70.
- Term 30 Insurance Policy:
- It can be renewed once the 30 years of policy is completed.
- You cannot exchange this term with any other policies.
- The client can convert this policy term into permanent until 70.
- Term-to-age-65:
- You cannot renew this term policy.
- Not allowed for exchanging the policy.
- Easily convertible for permanent insurance till the age of 60.
Exciting Benefits of Term Life Insurance Offered by the Desjardins Insurance Company:
- Insurability Option:
- Couples or business partners can split a joint coverage option into an individual permanent policy.
- This benefit is only available in term 10, term 20, and term 30 insurance policies.
- Association Option:
- A policyholder can convert any of their term policies into permanent ones by adding a new insurance policy. This option can cover all the other estates or leave a legacy.
- Only available to all four main life insurance terms.
Optional Riders:
The Desjardin Insurance Company offers different ranges of riders, such as;
- For ChiChildren’sotection.
- Accidental Death and Dismemberment.
- Disability Waiver of Premiums.
- 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 is a lifetime policy that secures the candidates from unpredictable moments until their death.
Here are some of the types of coverages that Permanent Life Insurance Policies offer;
- Basic Coverages:
- Basic coverage is available to those between 50 and 75 years of age.
- It does not include any medical examination or guaranteed benefits, even if the policyholder dies within two years of purchasing the policy.
- The policyholder also gets 5X accidental death benefits under this coverage.
- Basic coverages include the advanced payment method of up to 50% on the accidental death benefits.
- The accidental death benefits amount varies 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:
- It guarantees premiums to all policyholders over the age of 10, 15, 20, or until they reach the age of 65 or 100.
- The benefits amounts range from $1,000 to $10,000,000.
- This coverage also offers various preferable rate options and additional tax savings through a charitable contribution plan.
So, these are both the coverages offered by the permanent life insurance policy.
- Participating Life Insurance:
- It is lifelong coverage, including several tax advantages and cash value advantages to their policyholder.
- The policyholder can only use this if they have 20 a 20-year or 100 a 100-year plan.
- It gives guaranteed accidental benefits.
- You can use your dividends to purchase additional life insurance or annual premiums.
- It helps you maintain some 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 that offers the option of investing the cash value of your policy.
Desjardin Insurance, a universal life insurance policy, is the best option for people who want to reduce their tax burdens. Once the policyholder has completed five years of coverage, they can easily change the policy.
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 policy that protects the policyholder from any vital diseases, such as cancer. It is available 30 days after your first diagnosis of cancer or 90 days after it. Critical Illness Insurance coverage is available for a more extended period.
Desjardin Insurance offers maximum coverage for Critical Illness of $2.5 million. The best thing about Desjardin Critical Illness Insurance is that it has covered 26 critical illnesses and is in the first position in the critical coverage industry, amongst other things.
It also offers coverage for loss of independent existence and 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 helpful for a person suffering from a loss of income. For all those Disability Insurance takers, the Desjardin offers several coverage options, such as;
- The main thing about this is that it is only available for Canadians over 65.
- It offers income replacement up to $200 to $10,000 depending upon the age criteria and individual occupation.
- The benefit period of this coverage is 2 to 5 years, until the age of 65 or 70.
- The client can also receive monthly benefits without paying any extra medical expenses.
- If any policyholder plans to cancel this policy, the company will give them a partial refund of the premium amount.
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, many people have positive reviews about the company, and on the other hand, there are people who have negative reviews about the same insurance company.
So, letlet’se 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. The client says that the staff is very friendly and very prompt to answer their every query.
- The other user mentioned that the staff is very knowledgeable, and the company also helps to clear our claims easily without taking too much time.
Negative Review:
- One of the disappointed customers says that the company took a lot of time to investigate any accidental auto insurance case.
- Another client has reviewed the company and says it has inferior customer service.
So, these are both the positive and negative reviews about the Desjardin Insurance Firm from the sides of their customers.
Conclusion:
Desjardin Insurance Company is an outstanding and experienced insurance company that offers the best life insurance policies to its customers. The life insurance policy also provides the best Critical Illness Insurance Policies, which has given almost 26 critical illness insurance policies amongst the other insurance companies.
This article has provided all the essential information about Desjardin Insurance Company, its merits and demerits, the list of products and services offered, and customer reviews.
As per my suggestion, if you are looking for the best life insurance policy, you must go to this company’s website, which is already mentioned in this article, and learn the other benefits and advantages of taking the life insurance policy from Desjardin Insurance Company.2