Our BMO life insurance rating and review

BMO Insurance’s term life insurance is a great option for individuals, couples, or business owners. It can cover mortgages and other debts, final expenses like funeral expenses, replace future income, and provide for dependents. The plan can also be used to protect businesses and their key employees. Lastly, the death benefit can be used to leave a financial gift to a favourite charity.

BMO Insurance term life insurance policies offer terms ranging from 10 to 30 years. Death benefits (tax free payments to a beneficiary) can go all the way up to $10,000,000. All term life plans can be converted to a permanent life insurance policy at any time before age 70. Term 10 plans can be exchanged for longer terms: Term 15, 20, 25 or 30. Term 10, 15 and 20-year plans are renewable and convertible. Term 25 and 30 plans are convertible, although not renewable.

There are riders for critical illness insurance, accidental death insurance, waiver of premium in case of disability. One can also add a children’s life insurance rider.

Another great feature of BMO Insurance is its unique Compassionate Benefit Program. This is a non-contractual cash benefit offered by BMO Insurance to term life policyholders with a limited life expectancy who may require a source of funds to help them manage their medical bills and unexpected financial costs.

For term life policyholders, an initial advance of up to 50% of the base coverage (maximum of $250,000) may be paid out if the policyholder is diagnosed with a terminal illness with a life expectancy of 12 months or less. This is available on individually-owned single and joint life policies as well (max of 2 insure with joint ownership policies).

How much does life insurance from BMO Insurance cost?

Representative values. Insurance premium based on non-smokers in good health. $500,000 life insurance benefit coverage, 20-year term.

What types of term life insurance policies does BMO Insurance offer?

BMO Insurance offers their simply named Term Life insurance product with many options to personalize coverage for those applying.

• Medical underwriting is generally required depending on age of the applicant and amount of insurance applied for
• Premiums are guaranteed
• Term 10 plans have an exchange program, where the policyholder can renew for another eligible term policy after 1 year but before 5 years of their initial term 10 coverage.

There are riders for critical illness, accidental death, waiver of premium in case of disability. One can also add a children’s life insurance rider.

Coverage and policy details

• Available Term Lengths: BMO Insurance offers term lengths of 10, 15, 20, 25, and 30 years. BMO also offers a term 100 permanent product
• Available Term Types: Guaranteed level premiums
• Maximum Amount of Coverage: Up to $10,000,000 death benefits
• Convertibility: All policies are convertible to a permanent life insurance policy before the policyholder reaches an age nearest of 70.
• Renewability: Available on term 10, 15 and 20 year coverage products

What other insurance policies does BMO Insurance offer?

In addition to Term plans, BMO Insurance also offers:

Permanent Life Insurance

Permanent life insurance provides you with coverage from the day the policy is settled until the day you die. As long as you pay premiums into the policy, BMO life insurance coverage never expires.

BMO Insurance offers several different permanent life insurance policies:

EasyOne Life

• Available to Canadians between the ages of 50 and 80 who have no serious illnesses
• No medical exam required and immediate permanent life insurance coverage from the day BMO Life Insurance receives your application
• Life long coverage with a tax-free benefit between $5,000 and $50,000

Guaranteed-Life Plus

• Available to Canadians between the ages of 45 and 75
• Guaranteed life insurance coverage and no medical exams or health questionnaires required
• Lifetime coverage as long as payments are paid up to age 95
• $50,000 in basic coverage (after 2 years without claims) and $250,000 accidental death coverage

Term 100

• Lifelong permanent life insurance coverage
• Fixed level premiums which you pay until age 100
• Coverage amounts available between $50,000 and $5,000,000
• Much like BMO Insurance’s term life insurance policies, many optional riders are available for Term 100 to meet varied insurance needs

BMO Insurance Whole Life Insurance

• Guaranteed cash value, and guaranteed premiums payable for 10 or 20 years or to age 100
• Non-participating permanent life insurance
• Unique features like premium switching, premium offset, additional payments and policy loans make it a very flexible BMO life insurance coverage option
• Two plan options (Estate Protector and Wealth Accelerator) to service different end-of-life financial needs

Read our full review of BMO Insurance Whole Life Insurance.

Universal Life Insurance

Universal life insurance is like whole life insurance, except there is a self-directed long-term investment component: your insurer gives you options for investing the cash value of your policy.

BMO Life Insurance’s universal coverage offers three different universal life insurance policies: Life Dimensions, Life Dimensions (Low Fees) and Wealth Dimensions.

All these options boast:

• Flexible premiums and terms
• Extensive investment options
• Early access to cash-value
• Optional riders for more BMO life insurance coverage:
  • term life insurance rider
  • accidental death rider
  • waiver of premium
  • children’s term life insurance rider
  • critical illness insurance rider

Critical Illness Insurance

Critical illness insurance is a living benefit insurance policy that pays out a tax-free lump sum if you develop a specified illness, health event, or undergo treatment while under its coverage, after a minimum of 30 days from when you are first diagnosed (90 days for cancer). This coverage is available for a period of time also known as term length; and you determine it when purchasing the policy.

BMO Insurance offers 2 different critical illness insurance policies.

Life Recovery Plus

• Basic and enhanced plans that offer $25,000 and $50,000 in coverage, respectively
• Guaranteed acceptance when you provide a declaration of health
• Cash benefits are a mix of one-time, monthly, and daily benefits to help you financially while you recover
• The survival period is 30 days

Living Benefit

• Offers enhanced coverage (25 life-threatening medical conditions)
• Maximum coverage is $2 million
• Offers coverage for loss of independent existence and partial payouts for 7 different conditions
• The survival period is 30 days
• Available in 10 and 20-year terms or coverage up to 75 or 100 years of age
• There is a 15-pay option available on some policies

For more information and an in-depth look at their critical illness coverage, read our BMO Insurance Critical Illness Insurance Review.

BMO Travel Insurance

BMO Insurance offers travel insurance on a per-trip and annual basis, with different plans offering coverage for medical emergencies, trip cancellation, flight delays, lost baggage, and more.

Investment Products and Other Financial Products

Besides insurance, BMO Financial Group offers countless investment solutions and personal financial products as well as business banking solutions.

Is BMO Insurance right for you?

BMO Insurance offers unique life insurance coverage products that are a great fit for many Canadians. As insurance advisors for BMO Insurance’s life insurance products, we can help you decide if BMO Insurance products are the best fit for you and find you instant quotes.

Canadians commonly use BMO Life Insurance policies to cover lines of credit, funeral costs, the outstanding balance on credit cards, provide peace of mind, secure future education for dependents, or augment their current life insurance plans. If you’re not sure how much coverage you need, check out our life insurance calculator or read more in our insurance learning centre.

As Canada’s best online insurance advisor, we can assist you in comparing and choosing products across all our partner companies. Speak to our licensed insurance advisors and we will be able to help you find the best coverage for your needs and answer any questions you have about BMO term life insurance, permanent life insurance, critical illness and disability protection, simplified coverage without medical exams and more.

Wawanesa Life Insurance rating and review

Wawanesa Life is the life insurance arm of Wawanesa Insurance,  a Canadian insurance conglomerate with products across the individual, home, farm and commercial business sectors. They offer term life insurance plans with terms ranging from 10 to 30 years and include a special term-to-age-80 option. When one chooses Wawanesa Insurance, they can potentially layer term plans if they enact a base plan and add up to four term-riders of various initial term lengths within a single policy.

Preferred underwriting is available, with 3 nonsmoker and 2 smoker classes. Wawanesa insurance products are frequently the most affordable in Canada, depending on the applicant’s age and other individual factors.

Apart from pure term life insurance, Wawanesa Insurance has options for Permanent Life Insurance and Quick Issue Critical Illness Insurance products through Wawanesa Life.

While Wawanesa does business in the United States, this review focuses on Wawanesa Canada.

Pros and cons

Who is Wawanesa Insurance?

Wawanesa Mutual, founded in 1896 with executive offices in Winnipeg, is the parent company of Wawanesa Insurance, which distributes life insurance products and services throughout Canada and the United States. Wawanesa Insurance also offers automobile, farm, home and commercial business coverage. The parent company is a mutual insurance company, owned by its policyholders, allowing Wawanesa Insurance to align its business objective with the financial security and well being of its clients.

While Wawanesa Mutual is one of the largest property and casualty insurers in the country, Wawanesa Canada has a relatively smaller life insurance business. Wawanesa Insurance’s life insurance business has been in operation since 1960. In 2017, Wawanesa Insurance acquired the Western Life Insurance business from Desjardins and combined it with Wawanesa Life.

Key facts about Wawanesa Insurance

• When was Wawanesa Insurance founded? 1896
• Where is Wawanesa Insurance headquarters? Winnipeg, Manitoba
• AM Best Rating: A
• Better Business Bureau Accreditation and Rating: No / A+
• Assets: $1.5-billion
• Annual Premiums: $280-million

How much does life insurance from Wawanesa cost?

Representative values, based on non-smokers in good health. $500,000 coverage, 20-year term.

What types of term life insurance policies does Wawanesa offer?

Wawanesa Insurance offers competitively priced term life insurance throughout Canada.

Coverage and policy details

• Available Term Lengths: 10, 15, 20, 25, and 30 years terms, and term to age 80
• Available Term Types: Level coverage. Single and joint life options are available
• Maximum Amount of Coverage: $10,000,000
• Renewability: Yes, lifetime renewable at the end of the initial term, with the last renewal at age 80
• Convertibility: Yes, convertible until age 70

What other insurance policies does Wawanesa Insurance offer?

Wawanesa Insurance offers a wide range of products to customers, apart from term life and other living benefits mentioned above, such as:

Permanent Life Insurance

Permanent life insurance provides you with coverage from the day the policy is settled until the day you die. Premiums are level and guaranteed, and as long as you keep paying the premiums the coverage never expires.

Wawanesa Life offers 2 different permanent life insurance policies.

Wawanesa Whole Life Insurance

Wawanesa Life’s participating whole life insurance offers higher coverage amounts at a lower premium cost than many of their competitors and is therefore one of the most affordable whole life insurance choices in Canada.

Wawanesa Life’s whole life policy is offered with 2 pay options: Whole Life – Pay to Age 100, (you pay premiums until age 100) and 20 Pay Whole Life (you pay premiums for only 20 years).

You can also build additional coverage with dividends; Wawanesa Life lets policyholders purchase paid-up additional insurance with the value from their dividends.

Wawanesa Instant Issue Life Insurance

Wawanesa Life’s Instant Issue Life Insurance policy is non-medical whole life insurance with a maximum of $50,000 in coverage. It requires a simplified life insurance application, which means you’ll have to answer some questions about your health and medical history, but it does not require blood work or a medical exam. It is available between the ages of 45 and 75 and the death benefit is reduced if the insured passes away within the first 2 years of the policy. There are also many options for surrender values and return of premium.

Critical Illness Insurance

Critical illness insurance is a living benefit insurance policy that pays out a tax-free lump sum if you develop a specified illness, health event, or undergo treatment while under its coverage, after a minimum of 30 days from when you are first diagnosed (90 days for cancer). This coverage is available for a period of time also known as term length, and you determine it when purchasing the policy.

Wawanesa Life offers enhanced critical illness insurance with coverage for 14 different illnesses including:

• Heart Attack
• Stroke
• Cancer (Life-Threatening)
• Coronary Artery Blockage
• Kidney Failure
• Major Organ Transplant
• Major Organ Failure on Waiting List
• Paralysis
• Occupational HIV Infection
• Blindness
• Deafness
• Loss of Speech
• Loss of Limbs
• Severe Burns

The application for Wawanesa Life’s critical illness coverage is simplified; applicants only need to answer a health questionnaire and there is no requirement for blood work or medical tests.

The policy can be issued between the ages of 18-60 and maximum coverage is $100,000.

There are three plan types available which all offer a return of premiums on death:

• 10 Year Term that is renewable to Age 75
• Level Term to Age 75
• Level Term to Age 75 with a flexible return of premium (after 10 years or age 65, the insured person can surrender the policy for 50% of the premiums paid to that point).

Wawanesa Car Insurance

Wawanesa Insurance offers auto coverage across all provinces and territories except for Northwest Territories, Nunavut, and Newfoundland & Labrador.

Wawanesa Home Insurance

Wawanesa offers coverage for your home in all provinces and territories. Their policies include Basic, Broad, and Special categories with increasing levels of coverage, and options for coverage on sheds, garages, cottages, cabins, and more, as well as extended coverage for contents and if you are operating a business from your home. These options extend to their condo insurance offerings.

Wawanesa Insurance also offers tenant insurance for those looking to insure the contents of their home in the event of a fire, flood, or theft.

Wawanesa Business Insurance

Wawanesa Insurance offers coverage for several types of businesses, including commercial business coverage, and farm coverage.

Is Wawanesa Life Insurance right for you?

Wawanesa Insurance offers unique life insurance coverage products that are a great fit for many Canadian consumers – for those looking for a great price on insurance Wawanesa offers some of the country’s most competitively priced premiums. As insurance advisors for Wawanesa insurance products, we can help you decide if Wawanesa Insurance Canada is the best fit.

Speak to our licensed advisors and we can help you find the best coverage for your needs – whether that be with Wawanesa Canada or another great Canadian insurance provider.

Our Co-Operators life insurance plan rating and review

Co-Operators is a full-service insurance co-operative, owned by 44 members including co-ops, credit unions, and representative farm organizations. They offer home, auto, travel, life insurance, investment products, as well as group health and dental benefits.

This insurance company has a strong AM Best rating and is financially stable with over $20.6 billion in assets. While they are a major player in the insurance industry, their term life insurance products are not competitively priced compared to offerings from our insurance partners at PolicyAdvisor. 

We would recommend choosing one of the many other insurers in the market at this point in time, given the potential to obtain lower prices and access a wider spectrum of features and optional benefits. Use PolicyAdvisor’s quoting tool to find the right coverage through several competitive quotes from Canada’s best life insurance companies.

Co-Operators life insurance pros and cons

Who is Co-Operators Insurance?

The Co-Operative Life Insurance Company was founded in 1945 by a group of farmers in Saskatchewan who lost most of their belongings, savings, and life insurance during the Great Depression. They found that traditional insurers did not meet their unique needs as farmers, so in 1945 with the financial support of the Saskatchewan Wheat Pool, they founded their own insurance co-operative. 

A similar story was unfolding for farmers in Ontario, and by 1959, the Co-Operators Life Insurance Association was incorporated for business. In 1978 the Saskatchewan and Ontario branches amalgamated to form under The Co-Operator’s name.  

Since then, the Co-Operators have expanded their operations Canada-wide. Co-operator’s product offerings now include home, auto, and travel insurance, but they still offer life insurance products as well.

Co-Operators: Quick Facts

• Founded: 1945
• Headquarters: Guelph, ON
• AM Best Rating: A (excellent)
• Better Business Bureau Accreditation and Rating: A+
• Assets: $20.6 billion
• Annual Premiums: $5.05 billion

What type of life insurance does Co-Operators offer?

Co-Operators offers a full suite of term, whole, universal, and no-medical life insurance products. 

Co-Operators Term Life Insurance
The Co-Operators provide a one-year, renewable policy as well as longer term life insurance options with terms of 10, 15, 20, 25, or 30 years. Their one-year term coverage has a max coverage amount of $475,000 whereas their other terms more competitively offer up to $5 million.

Co-Operators Whole Life Insurance
The Co-Operators have two participating whole life insurance products—Protector™ and Ascend™. The two products both offer guaranteed cash value after three years, dividends, and coverage for children. However, Ascend offers more choices for limited payment plans and the option to purchase paid-up additions with your dividends. Available coverage amounts for their whole life policies are not listed online. 

Co-Operators Universal Life
Co-Operator’s universal life insurance policies have similar benefits to their participating whole life series, with the added bonus of flexibility in choosing your coverage options and investment accounts.

Co-Operators Infinity Term Insurance
This policy is the Co-Operators’ answer to a term to 100 life insurance policy. It is a permanent policy without the cash value savings component. It’s for those who like the stability of coverage for a lifetime, but want to pay less in monthly premium than they would for a regular whole or universal life policy.

Co-Operators Responsibility Series
The Co-Operators Responsibility series are no-medical life insurance policies that do not require a medical exam during the application process. However, skipping the medical means lower coverage amounts (only up to $25,000) and sometimes higher premium costs than traditionally underwritten policies.

What term life insurance amounts and coverage do The Co-Operators offer?

The Co-Operators have both a yearly renewable term insurance product as well as a separate product for longer terms. 

Term Life 1

• Available Term Lengths: 1 year
• Maximum Amount of Coverage: $475,000
• Renewability: Yes
• Convertibility: Yes, before your 70th birthday. 

Versatile Term™

• Available Term Lengths: 10, 15, 20, 25, or 30 years
• Maximum Amount of Coverage: $5 million
• Renewability: Yes
• Convertibility: Yes, before your 70th birthday.

Cost of term life insurance with Co-Operators

As mentioned, the Co-Operators is a singular insurance provider who do not have the most competitive prices for their term insurance products. PolicyAdvisor allows you to instantly shop for insurance with over 30 insurance providers to ensure you get the best coverage for the best price. 

Here’s how Co-Operators stacks up to one of our insurance partners, Desjardins, for a 30-year-old, non-smoking female looking for $1 million in coverage for a 20-year term.

What other insurance products do the Co-Operators offer?

While Co-Operators got their start in life insurance back in 1945, they have since expanded to offer a full line of insurance products. 

Critical Illness

Critical Illness insurance offers a lump-sum payment in the event you are diagnosed with a critical illness or injury such as heart attack, cancer, or stroke. Co-Operators offers four critical illness products—term 10, term 20, up to age 75, and up to age 75 with a 20 pay plan—that cover up to 25 conditions.  

Mortgage Insurance

If you’ve recently purchased a home, mortgage insurance will pay off your mortgage in the event you pass away. Usually, this coverage is offered by the mortgage lender itself and will only cover the mortgage, and no other outstanding debts.  However, Co-Operators offers a separate, portable mortgage protection plan that mirrors the benefits of term life insurance. 

Home Insurance

As a property and casualty company, Co-Operator’s home insurance products are a big part of their business. Home insurance covers your property in the event your property is damaged or destroyed in an event such as a fire, flood, or windstorm. 

Farm Insurance

Going back to their roots, Co-Operators offers farm-specific property insurance that is tailored to the unique needs of farmers, from hobby farms to large production. Their insurance products include coverage for livestock, machinery, poultry, farm structures, and pollution. 

Business Life 

Similar to their farm insurance product, Co-Operators has standard business property insurance that covers business stock, liability, equipment breakdown, and loss of income coverage. 

Auto Insurance

Co-Operators offers competitive auto insurance for your car, motorcycle, and other recreational vehicles in provinces that do not already have public auto insurance programs. 

Travel Insurance

Co-Operators offers different options for traveling Canadians, visitors to Canada, international students, and expatriates administered by Allianz Global Assistance. You can choose from single and multi-trip coverage, trip cancellation and interruption, and also emergency medical top-up.

How can I find the best term life insurance?

As Canada’s best online life insurance advisor, we will assist you in comparing and choosing products across all our partner companies. Speak to our licensed advisors and we will be able to assist you in finding you the best coverage for your needs.

Our Humania life insurance rating and review

Humania Assurance offers multiple term life insurance products, including both medical and non-medical coverage options.

Humania’s flagship HuGo Life Insurance product aims to accept your application quickly with the least requirements possible. The product is web-based and paper-free. 

The majority of policies are insured on the spot (more than 65%) in less than 45 minutes, with many completed in 15 minutes or less. HuGo is available for multiple terms, up to a maximum of 30 years. The company also offers a fixed premium term policy of up to age 80 and a conversion term of up to age 100. The product is convertible and renewable, with two renewal options: Gold and Platinum. Gold renewal is the standard renewal option although you could choose the more expensive platinum option, whereby your renewal prices upon initial maturity will be lower. 

The policy is also exchangeable between the first and fifth policy anniversaries for a term policy of longer duration. Riders for accidental death and dismemberment and waiver of premium on account of disability are available with this product.

Currently, Humania Assurance is also offering HuGo Critical Illness Insurance (critical illness cover up tp $25,000 for 25 different conditions) and HuGo Debt Insurance (which covers monthly payments for all types of debt up to $1,500 per month, if the person insured becomes disabled) without any additional requirements, if a customer is approved for HuGo Life with $100k or more coverage.

Humania Assurance offers two other term life insurance products:

• Insurance without Medical Exam(IWME), a simplified non-medical product, for those who – for medical or other reasons – have had difficulty in obtaining life insurance. There is no medical exam involved. You need to answer 6 eligibility questions and are protected immediately upon receipt of your online application and the first premium payment. In addition to life coverage, the IWME product can also be used to add critical illness and disability insurance coverage.]
• Term Life Insurance, a fully underwritten term life product. It is a flexible product, with possible terms of  10, 15, 20, 25, 30 years and term-to-age-80. It is renewable and convertible and comes with eight additional customizable benefits. It also has a multi-policy and family discount.

Humania life insurance pros

• Competitively priced term insurance options
• Multiple coverage terms available 
• Ability to exchange policy into a longer term for evolving insurance needs
• Simplified and quick fulfilment options are available
• Digital e-policy
• Non-medical product options available for those with moderate to serious health concerns
• Automatic approval for critical illness and debt disability coverage for those with standard health

What other insurance policies does Humania Assurance offer?

Humania Assurance offers a wide range of insurance products to customers, apart from term life, such as:

Critical Illness Insurance

Critical illness insurance is a living benefit insurance policy that pays out a tax-free lump sum if you develop a specified illness, health event, or undergo treatment while under its coverage, after a minimum of 30 days from when you are first diagnosed (90 days for cancer). This coverage is available for a period of time also known as term length, and you determine it when purchasing the policy.

Humania offers several options for those looking for critical illness coverage.e

Term Critical Illness Insurance

• Basic (4 illnesses) and enhanced (25 illnesses) coverage available
• Terms are available 10, 15, 20, 25, 30, or 75 years
• Return of premium available after 15 years or at age 65
• Coverage amounts from $25,000 to $1,000,000

Critical Illness Insurance Without Medical Exam

• Simplified application with only 6 health questions asked; immediate coverage
• Terms available are 10 or 20 years
• Return of premium on death
• Coverage amounts from $5,000 to $100,000

Prohealth Cancer Insurance

• Critical illness insurance that covers minor and major cancers only
• Instant online fulfillment
• Guaranteed premiums for 10 years
• Coverage amounts from $5,000 to $75,000

Prodige

• Basic (4 illnesses), comprehensive (24 illnesses). and enhanced (25 illnesses) coverage available
• Return of premium available after 10 years of coverage
• Life-pay, 20-pay, and pay to age 65 options for premium payment
• Options for life insurance riders and return of premium on death for comprehensive coverage
• Coverage amounts from $25,000 to $1,000,000

For more information and an in-depth look at their critical illness coverage, read our Humania Assurance Critical Illness Insurance Review.

Family Insurance

Humania offers unique insurance policies to protect your growing family through illness or accidents.

Children360 Insurance

• Critical illness insurance for children which covers 37 illnesses (including many specific to children)
• Coverage amounts from $10,000 to $50,000
• Instantly issued

Fracture Accident Insurance

• $10,000 in coverage in the case of accidental fractures
• Available from 14 days to 75 years
• Optional coverage for accidental death and dismemberment ($25,000)

Street-Wise Accident Insurance

• Coverage for both natural and accidental death, dismemberment and loss of use, and fractures and hospitalization
• Up to $200,000 in coverage
• Available from 15 days to 70 years old

Travel Insurance

Humania’s Tour+Med travel insurance can cover up to $5,000,000 in travel related expenses/ It covers medical expenses, doctor’s fees, private care, drugs, accidental death, transportation, and much more.

Health Insurance

Humania offers unique insurance plans to cover medical and health expenses.

Prohealth-Hospitalization Insurance provides up to $150 per day if an insured person is hospitalized, as well as further benefits for recovery. Prohealth-Medical Expense Insurance provides up to $10,000 in coverage to handle everyday medical expenses like physiotherapists, chiropractors, diagnostic services, laboratory fees, plaster casts, slings, hernia belts, hearing aids, dental accidents, and more.

How can I get Humania Assurance life insurance quotes?

Humani Assurance offers unique life insurance coverage products that are a great fit for many Canadian consumers. As insurance advisors for Humania Assurance’s life insurance products, we can help you decide if Humania life insurance policies are the best fit for you.

As Canada’s best online life insurance advisor, we will assist you in comparing and choosing products across all our partner companies. Speak to our licensed advisors and we will be able to assist you in finding you the best coverage for your needs.

What other insurance policies does Desjardins Insurance offer in Canada?

Desjardins Insurance offers other types of life insurance products to their customers, apart from term policy options.

Permanent Life Insurance

Permanent life insurance provides you with coverage from the day the policy is settled until the day you die. As long as you pay premiums into the policy, the coverage never expires.

Desjardins Insurance offers several types of permanent coverage:

Permanent Life Insurance – Basic coverage

• Simplified lifetime coverage available to those between the ages of 50 and 75
• No medical exam and guaranteed benefit even if death occurs during the first two years of the policy
• 5x accidental death benefit until age 85
• Advance payment available up to 50% of the death benefit
• Benefit amounts available: $5,000, $7,500, $10,000, $15,000 or $20,000

Permanent Life Insurance – Personalized coverage

• Set, guaranteed premiums, and ability to pay over 10, 15, or 20 years, or until ages 65 or 100
• Benefit amounts from $1,000 to $10,000,000
• Preferred rates available when taking out multiple coverages
• Additional tax savings when coupled with a charitable contribution plan
• Generous surrender values and continued prorated coverage if you stop paying premiums

Participating life insurance

• Lifelong coverage which also accumulates tax-advantaged cash value and provides possible annual dividends
• Ability to adapt coverage as your needs change and evolve
• Pay over 20 years or to age 100
• Guaranteed benefit
• Dividends can be used to purchase additional life insurance or reduce the annual premium
• Maintain some coverage even if one stops paying premiums

Universal life insurance

Universal life insurance is permanent life insurance with a self-directed long-term investment component: your insurer gives you options for investing the cash value of your policy.

Desjardins Insurance universal life insurance positions itself as an ideal solution for those looking to leave behind a substantial, tax-free inheritance, invest money tax-free when they have maxed out other options, or to reduce tax burdens on their estate.

Policyholders can amend their coverage whenever it needs changing without a penalty once they have held the coverage for 5 years. There is a choice of over 30 diversified investment options for the self-directed component of their universal life insurance.

Critical Illness Insurance

Critical illness insurance is a living benefit insurance policy that pays out a tax-free lump sum if you develop a specified illness, health event, or undergo treatment while under its coverage, after a minimum of 30 days from when you are first diagnosed (90 days for cancer). This coverage is available for a period of time also known as term length, and you determine it when purchasing the policy.

Desjardins Insurance’s maximum coverage for critical illness insurance is $2.5 million. It covers 26 critical illnesses, which is one of the highest in the industry

They offer coverage for loss of independent existence. They offer partial payouts for 15 different conditions. The payout is typically 15% of the policy up to $50,000, though they also offer a 1% payout for certain cancers up to a max of $5,000.

The survival period (how long you must survive with the illness before you can collect your benefit) is 0 days for most conditions, though Desjardins does have a 30-day wait for those who suffer from cardiovascular conditions.

Desjardins offers critical illness insurance for 10- and 20-year terms or coverage up to 65, 75, or 100 years of age.

10 and 20 pay options are available for some terms. Desjardins offers a return of premiums on death and a return of premium on expiry or cancellation from the 4th year of your coverage period onward.

For more information and an in-depth look at their critical illness coverage, read our Desjardins Critical Illness Insurance Review.

Disability Insurance

Disability insurance (or income protection insurance) is a policy that offers you protection against loss of income. It replaces a substantial portion of your paycheque if you become disabled until you return to good health and resume work (or the end of your coverage period).

Desjardins Insurance offers options for those seeking disability coverage.

• Available for Canadians up to the age of 65
• Offers income replacement from $200-$10,000 depending on one’s age and occupation.
• Benefit periods can be 2 or 5 years, or until age 65 or 70 (depending on the coverage they choose)
• Ability to increase the monthly benefit without additional medical underwriting
• Partial refund of premiums if one cancels the policy on eligible surrender dates

Desjardins Healthcare insurance

Desjardins Insurance offers individual, independent health insurance for those looking to obtain their own coverage or augment the coverage they have from other sources. It provides coverage for medical costs not covered by provincial health plans, like, prescription drugs, healthcare services (physiotherapists, chiropractors, psychologists, etc.), dental care, vision care, nursing and ambulance services, therapeutic equipment, diagnostic services not provided in hospitals, travel insurance, and more.

Desjardins Auto insurance

Desjardins Insurance offers auto insurance in Canada, with discounts available for multiple products (home insurance), multiple vehicles, winter tires, loyalty, electric vehicles, and more. Besides automobiles, Desjardins also offers coverage for motorcycles, all-terrain vehicles, watercraft, snowmobiles, and RVs (recreational vehicles like motorhomes, campers, and camping trailers).

Desjardins Home insurance

Desjardins Insurance offers home insurance for freehold houses, condo units, seasonal homes, and tenant insurance.

Desjardins Pet insurance

Desjardins Insurance offers three tiers of coverage for your cat or dog: Bronze Paw, Silver Paw, and Gold Paw.

Is Desjardins Insurance right for you?

Desjardins Insurance offers unique term life insurance coverage products that are a great fit for many Canadian consumers. As insurance advisors for Desjardins Insurance products, we can help you decide if they are the best fit for you and find you Desjardins Insurance quotes.

As Canada’s best online life insurance advisor, we will assist you in comparing and choosing a life insurance policy across all our partner companies. Speak to our licensed advisors to complete your financial security plan. We can assist you in finding you the best, most affordable coverage for the insurance amounts you need. You can do this all from the comfort of your own home (no paper form or postal services necessary) and cut down on face-to-face interactions in this unprecedented time.