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The Imperial Life Insurance Company

The Imperial Life Insurance Company was a life insurance company that was founded in 1896. It officially ceased to do business under that name in 2001. The company was purchased by the Desjardins Group in 1994, but it was allowed to keep its name for the time being. At the time of its purchase, Imperial Life was the owner of Laurentian Life, a life insurance company it had purchased the year before. When the Desjardins Group bought Imperial Life, it also acquired Laurentian Life. The Desjardins Group merged with Laurentian Life to create Desjardins-Laurentian Life Assurance (DLLA) in 1994. In 2001, DLLA merged with Imperial Life to become the Desjardins Financial Security Life Assurance Company. Today, Desjardins Financial Security is the eighth largest life and health insurance company in Canada. Over 2,500 people work for Desjardins Financial Security, and another 6,200 people are associated with it as representatives.

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Although Imperial Life is no longer a distinct entity of its own, that hasn’t affected its original vision of providing high quality life insurance products. Desjardins provides three kinds of life insurance: term life insurance, permanent life insurance and universal life insurance. Term life insurance is the kind of insurance to buy if you have short-term life insurance needs, short-term in this case generally referring to anywhere from one to twenty years. Term life insurance is a great option for people with dependent children or debts, and it can be combined with other types of insurance, such as critical illness insurance, disability insurance, long-term care insurance and healthcare insurance. The three types of term life insurance offered by Desjardins are Vision Death Coverage, Vision Death Coverage – Monthly Income, and Vision Guaranteed Insurability.

Permanent Insurance

Permanent life insurance is for people who have more long-term life insurance needs. With permanent life insurance, you are covered for your entire lifetime. People who should get permanent life insurance include those who want to make sure they will be able to leave their loved ones an inheritance and those who feel they will need life insurance no matter what happens to their health. Like term life insurance, it can be combined with other forms of insurance. The three kinds of permanent life insurance available are Vision Death Coverage, Vision Duo Solution and Vision Paid-Up Death Coverage.

Universal Products

Universal life insurance is a form of permanent life insurance that combines protection for your loved ones with an investment component. It’s a good choice for people who want to increase the amount of money they can leave to their loved ones and for people who have maxed out their RRSP contributions. Desjardins’ universal life insurance is called Vision Death Coverage With Savings. Universal life insurance investment options include daily interest investments, fixed-rate investments and market-linked investments such as income funds, balanced funds, Canadian equity funds and American equity funds.

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