Tailored insurance: custom plans for life
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Desjardins Insurance provides an extensive line of life and health insurance products, including Participating Life and Term Life, each designed to meet diverse financial planning needs with unique benefits and flexible options
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LIFE INSURANCE plays a critical role in comprehensive financial planning. It provides individuals and families with the security they need to navigate life’s uncertainties.
Desjardins Insurance understands that life insurance is more than just a policy; it’s a commitment to safeguarding your loved ones’ futures, helping cover immediate expenses, settle debts, and replace lost income.
By providing comprehensive and flexible life insurance options, Desjardins Insurance aims to be a partner to advisors in answering the needs of their clients.
Martin Labarre, director of product pricing and evolution, individual insurance at Desjardins Insurance, says, “Our goal is to help advisors succeed by offering a wide range of life insurance products and solutions to meet the evolving needs of clients.”
Desjardins Insurance offers a wide range of life and health insurance and savings and investment solutions through our extensive distribution networks. More than five million Canadians are counting on our solid expertise and our people-focused approach at every stage of their lives. Choosing Desjardins Insurance means choosing Desjardins Group, the largest cooperative financial group in North America.
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“By choosing Desjardins Insurance, advisors offer clients reliable life and health insurance products, from a company trusted daily by over five million Canadians to ensure their financial security”
Martin Labarre, Desjardins Insurance
Participating whole life insurance from Desjardins Insurance provides permanent coverage with the added advantage of flexible, tax-efficient dividend options. These options allow clients to grow their estate or access cash when needed.
Benefits of the product include:
Guaranteed premiums: Premium amounts remain fixed throughout the chosen payment period, providing financial predictability.
Guaranteed death benefit: A basic death benefit is assured, offering financial security to policyholders’ beneficiaries.
Cash surrender value (CSV): This safety net for policyholders who choose to cancel their policy consists of two portions: a guaranteed portion and a non-guaranteed portion derived from dividends paid. Clients can access or use the CSV in various ways, such as making withdrawals from the non-guaranteed CSV or taking a policy loan.
Dividends: Annual dividends are accessible and can be used to grow the face amount of the policy, potentially offsetting inflation risks. Dividends are not guaranteed and will vary based on investment return, mortality experience, and other factors.
This comprehensive coverage is backed by Desjardins Insurance’s extensive industry experience. With 75 years in life and health insurance, Desjardins Insurance was named Life and Health Insurer of the Year by Insurance Business Canada in 2022 and 2023.
Emphasizing the firm’s stability, Labarre states, “By choosing Desjardins Insurance, advisors offer clients reliable life and health insurance products from a company trusted daily by over five million Canadians to ensure their financial security.”
In its ongoing efforts to enhance product benefits for clients, on July 1, Desjardins Insurance increased its dividend scale interest rate from 6.2 percent to 6.3 percent and updated the mortality assumption on its participating life insurance policies.
“This combined effect will be positive for clients, with the chance of higher returns under this new scale. The justification for the increase comes in part from good investment returns in the PAR account in the last couple of years,” notes Labarre.
“Desjardins Insurance is anchored to the constantly evolving needs of its clientele, ensuring their needs and expectations are translated into innovation, technological improvements, and product development”
Desjardins Insurance’s 5 Pay Par product is particularly unique in the Canadian market, offering a guaranteed five-year premium payment period.
“This product simplifies financial planning for policyholders by requiring only a short-term financial commitment. Clients can pay their premiums more quickly, thereby potentially reducing overall insurance costs,” says Labarre.
The death benefit in the 5 Pay Par product is also guaranteed as a minimum, with the potential for growth depending on the performance of future dividends.
Labarre notes that this option is particularly attractive to parents and grandparents who wish to secure insurability for their children, as well as those planning for wealth transfer, retirement income, or charitable giving.
Speaking on its innovative solutions, Labarre notes how Desjardins Insurance stays attuned to consumer needs by “being connected to the voice of members, clients, and advisors.”
“Desjardins Insurance is anchored to the constantly evolving needs of its clientele, ensuring their needs and expectations are translated into innovation, technological improvements, and product development,” he continues.
Desjardins Insurance also offers the Estate Enhancer and Accelerated Growth products, each catering to different clients.
Highlighting the products’ value, Labarre explains, “The Estate Enhancer product is ideal for clients aiming for long-term growth in cash surrender value and death benefits, making it perfect for estate planning.”
The Accelerated Growth product, on the other hand, provides quicker access to cash surrender value, which can be particularly useful for funding major projects or financial needs in the early years of the policy.
These products provide clients with the flexibility to adapt their insurance coverage to their financial situation and life goals, ensuring that their insurance needs are met as their circumstances change.
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What is participating life insurance?
The 5 Pay Par solution
The 5 Pay Par solution
The 5 Pay Par solution
Published July 22, 2024
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Copyright © 2024 KM Business Information Canada Ltd
RSS
Sitemap
Contact us
About us
Conditions of Use
Privacy policy
Terms & conditions
People
Copyright © 2024 KM Business Information Canada Ltd
Contact Us
Specialty
Best in Insurance
Resources
Risk Management
TV
News
CA
Contact Us
Specialty
Best in Insurance
Resources
Risk Management
TV
News
CA
Copyright © 2024 KM Business Information Canada Ltd
RSS
Sitemap
Contact us
About us
Conditions of Use
Privacy policy
Terms & conditions
People
1
Martin Labarre, Desjardins Insurance
At Desjardins Insurance, life insurance isn’t just for high-net-worth individuals.
With coverages starting as low as $10,000 (minimum $10K for 5 Pay Par and Estate Enhancer, $25K for Term Life, $100K for Accelerated Growth), the firm prioritizes flexibility to accommodate all budgets, providing financial security at every stage of life.
Competitively priced, these policies offer various term lengths, making it easy to find a plan that fits individual needs. Additionally, Desjardins Insurance offers discounts when combining life insurance (term, T100, guaranteed whole life) or critical illness insurance (term or permanent) with term life or term critical illness insurance, while respecting the minimum coverage amounts.
Life insurance for everyone
Estate Enhancer and Accelerated Growth products
With a wide range of options to convert term policies into permanent coverage (14 permanent products to choose from), Desjardins Insurance adapts to the evolving needs of its clients, ensuring peace of mind for all.
Labarre emphasizes, “The ability to convert from term life to a permanent policy, or to extend term coverage, provides clients with a safety net and financial planning flexibility.”
1 Our story – DFS – Desjardins Life Insurance
2 Insurance - DFS - Desjardins Life
Desjardins Insurance refers to Desjardins Financial Security Life Assurance Company. Desjardins®, Desjardins Insurance®, all trademarks containing the word Desjardins, as well as related logos are trademarks of the Fédération des caisses Desjardins du Québec, used under licence.
2
IN Partnership with
Guaranteed premiums: Premium amounts remain fixed throughout the chosen payment period, providing financial predictability.
Guaranteed death benefit: A basic death benefit is assured, offering financial security to policyholders’ beneficiaries.
Cash surrender value (CSV): This safety net for policyholders who choose to cancel their policy consists of two portions: a guaranteed portion and a non-guaranteed portion derived from dividends paid. Clients can access or use the CSV in various ways, such as making withdrawals from the non-guaranteed CSV or taking a policy loan.
Dividends: Annual dividends are accessible and can be used to grow the face amount of the policy, potentially offsetting inflation risks. Dividends are not guaranteed and will vary based on investment return, mortality experience, and other factors.
Estate Enhancer and Accelerated Growth products
Martin Labarre, Desjardins Insurance
Find out more
Desjardins Insurance offers a wide range of life and health insurance and savings and investment solutions through our extensive distribution networks. More than five million Canadians are counting on our solid expertise and our people-focused approach at every stage of their lives. Choosing Desjardins Insurance means choosing Desjardins Group, the largest cooperative financial group in North America.
Estate Enhancer and Accelerated Growth products
Martin Labarre, Desjardins Insurance
1 Our story – DFS – Desjardins Life Insurance
2 Insurance - DFS - Desjardins Life
Desjardins Insurance refers to Desjardins Financial Security Life Assurance Company. Desjardins®, Desjardins Insurance®, all trademarks containing the word Desjardins, as well as related logos are trademarks of the Fédération des caisses Desjardins du Québec, used under licence.
1 Our story – DFS – Desjardins Life Insurance
2 Insurance - DFS - Desjardins Life
Desjardins Insurance refers to Desjardins Financial Security Life Assurance Company. Desjardins®, Desjardins Insurance®, all trademarks containing the word Desjardins, as well as related logos are trademarks of the Fédération des caisses Desjardins du Québec, used under licence.