This product is generally less expensive than whole life and covers the insured person for a limited period of time. It is a good choice for someone just entering the workforce who does not have a lot of money available for insurance.

Major Advantages

• This type of coverage is used for specific temporary or short-term needs. It is well suited for people who anticipate their insurance needs will diminish over time. For example, term life insurance can be useful for someone who has dependents or any type of shorter term responsibility, such as a personal loan.
  
  
• As a general rule, Desjardins Financial Security's term life insurance coverage can be renewed at the end of each term without proof of insurability.
  
  
• Benefits paid out upon death are nontaxable.
  
  
• Term life insurance is sold alone or in combination with other life and health insurance products.
   

Main Features

• The coverage period is usually a set number of years. The most common terms are 1, 5, 10 or 20 years. The term can also be until the insured person reaches a certain age (e.g., 60 or 65 years).
  
  
• The insured sum is only payable should insured person dies while the policy is in effect.
  
  
• At the time of renewal, premiums are increased according to the age of the insured person.
  
  
• A term life insurance policy can generally be converted into a whole life policy at any time before the insured person's 65th birthday without proof of insurability.
  
  
• Desjardins Financial Security offers a number of add-on coverage options with its term life policies:
  
  
  • Disability insurance;
  • Accidental death or dismemberment coverage;
  • Accidental fracture coverage;
  • Coverage for the insured person's spouse or children;
  • Guaranteed insurability;
  • A premium waiver in the event of disability;
  • And others
    
    
    
• Term life insurance is the most popular form of life insurance.
   

I Assess my Needs in Life Insurance

In the event of your premature death, will your loved ones remain financially independent? Assess the amount of life insurance you need.

To find out more about this product, Desjardins Financial Security offers you various possibilities :   Call us at 1-866-838-7553 or e-mail us. Complete the form Please Have a Representative Contact Me

* Warning: The above text is of a general nature and is for explanatory purpose only. The insurance products described above each have their own features. See your contract for complete terms and conditions as well as restrictions and exclusions to which they are subject.