Desjardins Employee Benefit Plan

Desjardins offers several kinds of group benefit plans to protect your employees and their loved ones. The benefit plans are designed to provide security and protection to the employees against the financial consequences of an accident, illness, inability to work or even death.

There is also an option to increase the value of your Desjardins employee benefit plan by offering a wellness account or a health spending account (HSA).

Basically, the group insurance covers supplementary insurance, vision care, convalescent care, prescription drug, dental care, disability, critical illness, life, accidental death and dismemberment, travel and trip cancellation, and coverage for expatriate employees and for temporary residents.

The supplementary healthcare covers hospitalization expenses, medical expenses, and fees for healthcare professionals. Vision care covers eye exams, glasses and contact lenses, and eye surgery. Convalescent care covers home care services and convalescence assistance services.

Prescription drug coverage covers drug costs. Dental care coverage covers preventive care and restorative care. Critical illness pays a lump sum when a critical illness is diagnosed and offers a personalized solution to help employees to recover.

The life insurance pays a tax-free lump sum to beneficiaries, the benefit amount can be increased with optional insurance, and it allows employees to maintain their coverage when they leave the job or retires. Accidental death and dismemberment pay a lump sum amount in the event of death, loss of sight or dismemberment.

To learn more about Desjardins employee benefit, click here.

Employee Benefit News

Canada’s leading financial cooperative group, Desjardins Group, recorded surplus earning before dividend of $2.326 billion for the fiscal year that ended on December 31, 2018. This is up $175 million from fiscal 2017. Thus, in the creation of Avisco Wealth, Desjardins realized a gain of $129 million net of income taxes in the second quarters of 2018.

It should be noted that the sale of Western Financial Group Inc. and Western Life Assurance Company resulted in a gain net expenses that benefited fiscal 2017. Moreover, adjusted surplus earnings were up by $295 million or 15.5 percent. Owing to these results, Desjardins was able to maintain its financial stability and pursue its cooperative mission to benefit its clients and members.

The company returned a whopping $389 million to the community and plan members. This includes a $253 million provision for member dividends and $94 million in scholarships, donations, and sponsorships as well as $42 million in Desjardins Member Advantages.

Guy Cormier, Desjardins’ President and Chief Executive Officer said that he is very proud of the group’s performance. He pointed out that the company’s membership grew at the fastest rate in the past 10 years. Also, the surplus earnings are up to Desjardins’ expectations. The company has also received an award from Corporate Knights for the new ETFs and SocieTerra fund that shows the group’s leadership in achieving the aims of the Paris Accord.

To learn about Canadian Desjardins employee benefit, click here.