Life insurance FAQ

To cancel a 50+ Life Insurance policy, call us at 1-877-838-7617 Phone number of Desjardins Insurance. This link opens your phone app.

To cancel any other type of life insurance policy, call us at 1-866-647-5013 Phone number of Desjardins Insurance. This link opens your phone app. and we can walk you through the process.

Yes, you can have more than one life insurance policy.

For example, you could have term life and permanent life insurance policies, which would allow you to cover different needs.

You can name a family member, friend or charitable organization as a beneficiary.

Yes, you can request changes to your policy.

As your needs evolve, your coverage can too. You could increase or decrease the death benefit, for example. Note that conditions and limitations may apply.

For more information, give us a call.

Yes. To change the beneficiaries on your life insurance policy, call us at 1-888-558-5525 Phone number of Desjardins Insurance. This link opens your phone app..

If you have 50+ Life Insurance, fill out the Designation, revocation or addition of beneficiary(ies) (PDF, 1.33 MB) This link will open in a new window. form.

If you have a participating life insurance policy, you can borrow against its cash value.

Learn more about our participating life insurance.

Your participating life insurance policy determines when you can borrow against your policy. Read it carefully to find out when you can access the cash value.

Yes. When you don't name a beneficiary, your life insurance is automatically part of your estate. If you do name a beneficiary, then your life insurance is not part of your estate. 

The death benefit is not taxable in Canada. But if you don't name a beneficiary, fees may apply, depending on the province.

No. If you're self-employed, you can't write off life insurance premiums as a business expense.

To set up a pre-authorized debit, fill out the Pre-authorized debit agreement (PDF, 1.20 MB) This link will open in a new window. form.

If you have 50+ Life Insurance, call us at 1-877-838-7616 Phone number of Desjardins Insurance. This link opens your phone app..

To update your life insurance policy if you quit smoking, call us at 1-888-558-5525 Phone number of Desjardins Insurance. This link opens your phone app..

If you have 50+ Life Insurance, fill out the Change in smoking habits (PDF, 1.28 MB) This link will open in a new window. form.

No, MAID doesn't affect life insurance. So beneficiaries can still receive the death benefit specified in the policy.

Yes, life insurance covers suicide if the policy has been in force for at least 2 years.

If you've had cancer, you may be eligible for life insurance under certain conditions. Factors taken into account include:

• The type of cancer
• The number of years since your last treatment

Yes, you can take out life insurance after a heart attack, depending on certain factors, including:

• The severity of your heart attack
• The number of years since your heart attack