Life with Long-Term Care Advance
Desjardins Insurance’s Life with Long-Term Care Advance provides affordable, permanent life insurance coverage and tax-free monthly amounts in the event that you experience a loss of independence.
Need help choosing coverage? Compare coverages or contact your Desjardins Agent.
Eligibility
Premium duration: 20 years
Minimum life protection: $25,000
Minimum Long-term Care Advance: $250/month
Issue ages: 30 days to age 59
How it works
You'll receive a tax-free monthly amount if you need daily care after age 65 or 10 years after your coverage is issued, whichever is later. This tax-free advance equals 1% of your life insurance amount for up to 100 months, subject to a three-month waiting period. This advance is interest-free and premiums are waived as long as you are receiving monthly amounts.
- At death, the balance of your insurance is paid to your beneficiaries with a minimum of 25% of your initial coverage. This means that your insurance could pay 125% of your initial amount of insurance.
- You can pay premiums monthly or annually.
- Generous guaranteed cash surrender values available as of the fifth year. No matter how large the death benefit, it passes to your beneficiaries generally tax-free.
Typically, the sooner you purchase your Life with Long-Term Care Advance coverage, the lower your premiums will be.
Customize your policy
You can add value to Whole Life Guaranteed 20 Pay with additional coverages.
Accident
This coverage provides an additional amount of insurance if you suffer a fracture, dismemberment, loss of one or more limbs or loss of sight or death due to an accident.
- Fixed and guaranteed
- Benefit payment for dismemberment does not cancel the coverage
- Each accident may be eligible for benefits
- The benefit may be doubled in certain circumstances (e.g., accident aboard public transit).
Provides a lump-sum benefit if you suffer a fracture due to an accident.
- $5,000: Fracture of the skull (dome of the skull), spine (excluding coccyx), pelvis (excluding coccyx) or femur
- $1,500: Fracture of a rib, sternum, scapula, humerus, patella, tibia, fibula, larynx and trachea
- $750: Fracture of a bone not listed above (including coccyx)
Eligibility
Issue age: 0 to 60
Accidental death, dismemberment or loss of use
This coverage provides a percentage of the amount of insurance if you die or lose a limb as a result of an accident. The percentage varies depending on the loss incurred and is 100% in the event of accidental death.
- Fixed and guaranteed
- Benefit payment for dismemberment does not cancel the coverage
- Benefit is payable for each loss providing that they result from a separate accident. The benefit may be doubled in certain circumstances (e.g., accident aboard public transit).
Accidental dismemberment or loss of use
This coverage provides a percentage of the amount of insurance if you lose a limb or experience a loss of use as a result of an accident. The percentage varies depending on the loss incurred.
- Fixed and guaranteed
- Benefit payment for dismemberment does not cancel the coverage
- The benefit will be payable for each fracture or complete severance, provided that the fractures are due to separate accidents
- The benefit may be doubled in certain circumstances (e.g., accident aboard public transit).
Accidental fracture
This coverage provides a lump-sum benefit if you suffer a fracture due to an accident.
- $5,000: Fracture of the skull (dome of the skull), spine (excluding coccyx), pelvis (excluding coccyx) or femur
- $1,500: Fracture of a rib, sternum, scapula, humerus, patella, tibia, fibula, larynx and trachea
- $750: Fracture of a bone not listed above (including coccyx)
Eligibility
Issue age: 0 to 60
Children’s accidental fracture
This coverage provides an additional amount of insurance if your children or children to be suffer a fracture as a result of an accident.
Issue ages
Policyowner: 18 to 55 years of age
Child: 15 days to 17 years of age
Features
Coverage: $5,000, $10,000 or $20,000
Fixed and guaranteed.
- $5,000: Fracture of the skull (dome of the skull), spine (excluding coccyx), pelvis (excluding coccyx) or femur
- $1,500: Fracture of a rib, sternum, scapula, humerus, patella, tibia, fibula, larynx and trachea
- $750: Fracture of a bone not listed above (including coccyx)
Children’s life protection
Issue ages
Policyowner: age 18 to 55
Child(ren) already born: 15 days to age 17
Child(ren) yet to be born: The policyowner must inform Desjardins Insurance of the birth of any child after the application has been signed. No evidence of insurability is required.
Features
Fixed and guaranteed
Can be converted to permanent life insurance up to 5 times the original sum insured, without evidence of insurability, at the earliest of:
- the policyowner turns 65 years old
- the insured child is 25 years old
Disability waiver of premiums
Helps preserve your policy at a time when income may be limited due to a disability. If you become totally disabled (as defined in the policy), this coverage will waive future policy premiums as they become due as long as you remain totally disabled. This coverage automatically terminates on the policy anniversary when you turn 60, unless disability occurs prior to this date.
Guaranteed insurability
This coverage gives you the option to purchase additional life insurance amounts without new evidence of insurability. A maximum of 5 options can be exercised. When you marry, purchase a home or become a parent, you may exercise the next available option. Option ages are 25, 30, 35, 40 and 45.
If you've purchased a life policy for your child or spouse, you can also add this coverage to their policy.
Coverage
Minimum: $10,000
Maximum: the lesser of $100,000 or 200% of the total insurance amount covering the insured.
Business insurability
This coverage allows owners of a growing business to purchase an additional amount of insurance based on the increased fair market value of the company, without having to provide new evidence of insurability.
Policyowner
The business
Insured
The owner or one of the owners of the business
Issue age
18 to 65 years old
Insurance amount at issue
Minimum: $100,000
Maximum: $3.3 million
or
The insured’s portion of the fair market value of the business. The amount of the BI can’t exceed 200% of the total life insurance amount.
Policyowner
The business
Insured
The owner or one of the owners of the business
Issue age
18 to 65 years old
Insurance amount at issue
Minimum: $100,000
Maximum: $3.3 million
or
The insured’s portion of the fair market value of the business. The amount of the BI can’t exceed 200% of the total life insurance amount.
Features
Fixed and guaranteed
The business can exercise up to three times the amount of the BI.
The business can exercise an option at each coverage anniversary during the first 10 years. The amount of the option is (whichever is less):
- The insured’s portion of the fair market value of the business OR
- The maximum cumulative amount of the BI minus the additional life insurance amounts exercised previously.
Insurance policies and/or associated riders and features may not be available in all provinces, and policy terms and conditions may vary by province.