Desjardins calculator
Desjardins Mortgage Insurance Calculator Canada
Desjardins Loan Insurance can protect a mortgage through life and disability coverage, so enter your actual Desjardins premium from the quote, certificate, or mortgage statement, then compare the life-insurance side with personally owned term life.
What this Desjardins calculator is comparing
Desjardins says Loan Insurance covers a mortgage in case of death or disability based on the insurance percentages selected. Its life insurance can cover the loan balance after death, while disability insurance can cover regular payments, subject to eligibility and the contract.
FCAC says optional mortgage insurance is not required for mortgage approval and the lender cannot insist that you buy it. FCAC also explains that mortgage life insurance may pay the lender, while term or permanent life insurance can pay your chosen beneficiary directly.
That is the comparison to make before you accept or renew: Desjardins mortgage-tied loan protection, or personally owned coverage where your household controls the benefit.
Free estimate
Calculate Desjardins Loan Insurance vs term life
Enter your actual Desjardins premium, then adjust age, balance, smoking status, province, and years remaining to see the side-by-side estimate.
How to use the result safely
1. Use the real premium
Desjardins pricing depends on your selected insurance percentage and loan details, so the clean input is the premium shown on your own documents.
2. Split life from disability
Death protection and disability payment protection answer different risks. Compare the life portion against term life, then review disability separately.
3. Avoid a coverage gap
Keep existing Desjardins coverage active until any replacement term life policy is approved, accepted, and in force.
Sources checked: Desjardins Loan Insurance, Desjardins Loan Insurance questions, and Financial Consumer Agency of Canada optional mortgage insurance guidance. Use your actual Desjardins quote, certificate, or mortgage statement if it differs. This page is educational, not personalized insurance advice.
Desjardins mortgage insurance calculator: common questions
Desjardins loan insurance questions, answered from Desjardins' product description and Financial Consumer Agency of Canada guidance on optional mortgage insurance.
Does this Desjardins calculator use my actual loan insurance premium?
No. It compares the balance, age, smoking status, province, and years remaining you enter against a personally owned term life estimate. If you have a Desjardins quote, enter that premium so the result reflects your real offer.
Is Desjardins loan insurance the same as life insurance?
Desjardins loan insurance is creditor insurance attached to the loan, and it can include life, critical illness, and disability benefits. A personally owned term life policy is a separate contract with your chosen beneficiary and level coverage, so compare them as different products.
Why does the payout destination matter so much?
When the benefit is applied to the loan, the household gets the debt reduced rather than cash it can direct. Families often need both, which is why the beneficiary and payout structure are worth checking before the premium is compared.
Can I cancel Desjardins loan insurance?
Yes, optional creditor insurance can be cancelled. Confirm your replacement policy is approved and in force first, then cancel, so there is no coverage gap while you switch.
What else should I compare beyond the monthly premium?
Compare total premiums over the years you expect to hold the mortgage, whether the benefit declines as the loan is paid down, whether the coverage survives a refinance or transfer, and how claims are assessed. Those four factors usually matter more than a few dollars a month.