Desjardins Financial Security

Our priorities

Ensure our children's financial security should one of us die
Maintain our financial stability should a tragedy or the unexpected happen
Prepare our children's future
Prepare our retirement

Our solutions

Ensure the financial security of our children should one of us die

Offset the loss of income if one of us were to die at least until the children are of legal age.

20 Year Term Life Insurance: If one of us dies during this coverage period, the surviving spouse will receive a tax-free lump sum. This sum will help offset the lost income and ensure our children's financial security until they leave the nest. If we still need insurance after 20 years, we can renew this coverage for another term.
Guaranteed Insurability Benefit: With this option, we can take out additional life coverage if our coverage needs increase, even if we no longer meet some of the medical eligibility requirements.

Maintain our financial stability should a tragedy or the unexpected happen

Offset lost income due to an extended leave from work following the death of one of our children.

Children's Life Insurance: If one of our children were to die prematurely, we would receive a tax-free lump-sum payment to help replace the lost income due to our extended leave from work.

Maintain our financial stability in the event of an accident or health problems.

Accident Insurance or Complementary Healthcare Insurance: With both of these types of coverage, we are covered along with our children against the financial consequences of an accident or health problems. They may cover for instance hospitalization expenses, paramedical and dental services, prescription drugs and ambulance transportation. They may also pay a lump sum in the event of a fracture, dismemberment, paralysis or accidental death.

Put money aside for emergencies to help with such unexpected expenses as major car repairs, buying a new kitchen appliance or even job loss.

Daily interest account and Guaranteed Investment Certificates (GICs) are just the thing because they are guaranteed and redeemable at any time. This emergency fund will help us deal with the unexpected without having to dip into our retirement savings or sell off assets that we hold dear.¸

Prepare our children's future

Our children's education is vital. We want them to have the opportunity of a higher education, if they so desire.

Registered Education Savings Plan (RESP): We've decided to set up this plan because it's the best way to contribute to our children's education when the time comes. It's easy! For our contribution to the RESP, we use the tax refunds generated by our RRSP contributions.

Preparing our retirement

Preparing our retirement, which we plan to start at age 58.

Spousal RRSP: Since my spouse's employer does not have a pension plan, it's important for us to contribute to an RRSP. I contribute to an RRSP in my spouse's name so that at retirement, both our incomes are balanced and we pay less taxes.
Multistrategy investments: This type of investments makes us feel more secure because we know that our capital is guaranteed at maturity and that our investments are diversified. We leave it to the professionals to look after our savings and make them grow.

Image - Did you know? Since our investments are issued by a life insurance company, we have designated a beneficiary for each of our contracts. When we die, the capital will go directly to the beneficiary and thus be excluded from our estate and won't be subject to probate fees.*

* In Quebec, a notarized will and the estate capital are not subject to probate.

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