Product description
Issue ages (age nearest)
N.B.: T65 coverage is renewable until age 65. Age nearest is calculated using a six-month rule from the date of issue. For example, if the client's birthday falls within 6 months of the date of issue, the client is considered a year older. Conversely, if the client's birthday is greater than 6 months from the date of issue, the client's attained or actual age is used.
Issue amounts
- Minimum: $25,000
- Maximum: $10,000,000
Premium banding
- $25,000 to $49,999
- $50,000 to $99,999
- $100,000 to $249,999
- $250,000 to $499,999 (preferred underwriting for insured age 51 and over)
- $500,000 to $999,999 (preferred underwriting for insured age 18 and over)
- $1,000,000 to $4,999,999
- $5,000,000 to $10,000,000
Conversion option
- Term to 65 can be converted into a permanent product up until age 60, without having to provide new evidence of insurability. Joint policies can be converted up until the eldest insured turns 70.
Products available for conversion
Association option
Association option (for individual policies)
Individual coverages include an option for exchanging the individual coverage for joint last-to-die coverage, up to age 60. This option allows you to add new insureds to the joint coverage. The products offered are the same as those available for conversion.
- If the additional insured already has coverage through Desjardins Insurance that includes a conversion option:
- No evidence of insurability is required
- The amount available corresponds to the lesser of the insured's inforce sum insured.
- If the additional insured does not have any coverage through Desjardins Insurance with a conversion option:
- The additional insured will need to provide evidence of insurability
- The amount available corresponds to the existing insured's inforce sum insured
For in-force contracts, please refer to the contract's conversion clause to find the maximum age at which the option may be exercised. If the Association Option is not included in the contract, please contact client services.
Coverage options
Annual policy fees
- Basic coverage: $40
- Each additional coverage: $20
Payment frequency
- Annual
- Monthly PAC (modal factor: 0.09 x total annual premium)
N.B.: The total annual premium refers to the total policy premium including any additional coverages and applicable policy fee.
Underwriting risk classes
| Rate classes (all ages) | Smoker |
|---|
| P1 (non-smoker - preferred) | R1 (smoker - preferred) |
| P2 (non-smoker - preferred) | R2 (smoker - standard) |
| P3 (non-smoker - standard) | - |
