Desjardins Life Insurance Review: What You Need to Know

Desjardins life insurance review (2025 update)

Founded in Quebec in 1900, Desjardins Group is a cooperative financial group, often listed as one of the world's top 50 safest banks and financial institutions. With over $470.9 billion in total assets, Desjardins serves 7.8 million members and clients, supported by 55,290 employees.

Desjardins offers both permanent and term life insurance products, alongside car insurance, home insurance, travel insurance, and group insurance.

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Desjardins life insurance: ★★★★☆ (4.0)

^{* This figure reflects the typical costs for a non-smoking woman between the ages of 30-44 across a term length of 10-30 years for $500,000 of coverage.}

Desjardins offers the following types of life insurance:

• Term life insurance: Term plans offer affordable premiums and flexible coverage, with term lengths ranging between 10 and 30 years.
• Permanent life insurance: Customers have multiple permanent life insurance options, including whole life insurance, participating life insurance, and universal life insurance.  
• Life insurance over 50: Individuals between ages 50 and 75 can access immediate, no-medical lifetime coverage with Desjardins 50+ Life Insurance plans.

Overall, Desjardins is a high-ranking insurer with long-standing financial stability and years of experience in the insurance industry. 

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Desjardins is best for…

Residents of Ontario and Quebec who prefer to work with a local advisor for life insurance.

Methodology

PolicyMe’s rankings are based on an independent, data-driven review of Canada’s best life insurance products and providers. 

Our analysis combines 450,000+ quotes for 50+ life insurance products with in-depth research on 20+ providers. We assigned each product a star rating out of five based on a mix of average pricing, Google Review scores, and shopping convenience, then ranked the results in 12 categories.

Rankings are determined first by star rating and then by price, with preference given to expert recommendations by PolicyMe’s team of life insurance advisors. Our findings are entirely data-driven and do not include paid placements, but should not be considered a substitute for personalized financial advice.

Desjardins life insurance pros and cons

Desjardins ranks highly for affordability, customer service, and industry reputation. But every insurance provider has its highs and lows, and Desjardins isn’t exempt. 

Here’s an overview of the pros and cons of Desjardins’ life insurance.

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Desjardins life insurance cost and value

Low-cost term insurance is a standout among Desjardins’s life insurance offers. Insurance premiums for non-smoker over 60 in good health are particularly competitive compared to the industry average, while other age groups pay about 1% to 4% less than the average for other life insurance companies. 

^{* These figures reflect the average monthly cost for $500,000 of coverage for healthy, non-smoking individuals across a term length of 10-30 years.} 

^{** Compared to the average monthly costs for $500,000 of coverage for healthy, non-smoking individuals across a term length of 10-30 years and 26 term life insurance products.}

About pricing comparisons

To ensure fairness and accuracy, all pricing comparisons were made within identical product types and demographic segments. For instance, a 10-year term policy for non-smoking women aged 18-29 with $500,000 in coverage was compared to the average pricing for all other 10-year term policies meeting the same criteria.

Desjardins life insurance reviews and customer service

With a Google Reviews rating of 4.5 stars and an A+ grade from the Better Business Bureau, Desjardins is among Canada’s most popular insurance providers for everything from life insurance to auto insurance, home insurance, and pet insurance. As a result, Desjardins earned our Great Customer Service badge. 

That’s not to say that customers are without complaints, however. In particular, some Desjardins clients report frustration with the company’s underwriting process, while others report difficulty working with their advisor. 

Desjardins life insurance products at a glance

Desjardins sells both term life insurance and permanent life insurance with tax-free death benefit payouts. Its term life products are typically more affordable and offer more valuable protection for individuals with temporary financial needs, like supporting young children or paying off a mortgage. Permanent insurance products from Desjardins may be a better fit for high net worth individuals or those with complex estate planning needs that demand a cash value investment option. 

The table below summarizes the key features of Desjardins life insurance plans. Note that some information is not available; that’s because Desjardins sells its life insurance products through a vast network of advisors and doesn’t provide detailed product information online. 

* Multiple investment options available

Desjardins life insurance riders

All Desjardins life insurance plans have available add-ons. In addition to the following riders, some plans come with the option to combine your life insurance coverage with critical illness insurance. 

• Accident
• Accidental Death, Dismemberment and/or Loss of Use
• Accidental Fracture
• Business Insurability Coverage
• Children's Accidental Fracture
• Children's Life Protection
• Guaranteed Insurability Benefit
• Waiver of Premiums in Case of Disability

How Desjardins compares to other insurers

^{* These figures reflect the average monthly cost for $500,000 of coverage for healthy, non-smoking individuals across a term length of 10-30 years.}

Desjardins life insurance vs PolicyMe life insurance

Desjardins and PolicyMe are both high-scoring providers when it comes to affordability, customer experience, and industry reputation. However, PolicyMe offers slightly better term life insurance rates than Desjardins.

Cost

When it comes to affordability, PolicyMe and Desjardins have similar pricing structures, with below-average rates for most Canadians. However, PolicyMe’s rates for adults aged 30 to 44 average 7% below the industry average, while Desjardins’s premiums are closer to those offered by other insurers. Because PolicyMe is a fully digital insurance distributor and Desjardins employs an extensive network of agents and financial services experts, premiums from Desjardins reflect higher overhead costs. 

Customer satisfaction

Both Desjardins and PolicyMe score well in the area of customer service, with excellent scores from the Better Business Bureau and Google Reviews. 

Convenience

PolicyMe has major advantages for shoppers in search of convenient life insurance offers that don’t require medical exams, advisor meetings, or other administrative tasks. Customers can complete an online application in 20 minutes or less and be approved instantly for coverage amounts up to $2M — over 60% of PolicyMe customers don’t require a medical exam. Desjardins, on the other hand, directs prospective clients to reach out to an advisor in their area. 

The bottom line: Who should consider Desjardins?

Desjardins may be a smart life insurance provider for families or individuals looking for affordable term or permanent coverage, flexible participating life insurance, or those who want to bundle life insurance and critical illness or disability coverage for a multi-coverage discount. 

Overall, Desjardins is a financially stable, reputable provider with years of experience providing life insurance products to Canadians across the nation. Its life insurance plans are worth considering if you're looking for a budget-friendly option, but it’s best to compare life insurance quotes and coverage options from other providers before making a final decision.

FAQs: Desjardins life insurance

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^{*** The life insurance premium rates in this article are based on publicly available figures as of December 2025.}

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