BMO Life Insurance

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BMO Life Insurance

Life changes and you need an insurance that will change with you. BMO Life insurance is here to make it easy to find the right plan. Offering term, permanent and 3-in-1 options, this Canadian company protects you and your family when you need it the most.

BMO Life Insurance, a subsidiary of BMO Financial Group, is built on a legacy going back to 1817 and with it, the backing of two hundred years of expertise. BMO Insurance comes with a Financial Strength Insurer Rating of A1 from AM Best Company, meaning you can depend on it to deliver on its claims.

Let’s see how this company could be the choice for you!

Term Life Options

Finding suitable life insurance should be easy and leave you with an peace of mind knowing you and your family will be taken care of in tough times. These options provide reassurance and offer flexibility. 

  • The Term Life Insurance option allows you to choose the amount and length of coverage and is one of the most cost-effective options. Premiums are lower and this is an ideal choice if you’re just starting out. It will also cover up to between $100-thousand to $5-million.
  • The insureNOW option is also term-based, but has coverage up to $250 thousand and only covers up to age 49. No medical exam is required and this is great for people wanting a simple option.

Flexible Permanent Life Insurance Plans

BMO Life Insurance wants you to find the best permanent life insurance plan that meets your needs. 

  • EasyOne Life is for people aged 50 to 80 and covers up to $50-thousand. You will be automatically approved, as long as you can sign a declaration of health saying you have no serious illnesses.
  • Guaranteed Life Plus is for people aged 40 to 75 and comes with a bit more coverage. You will get up to $50-thousand in basic benefit coverage and five-times that for accidental death. No medical exam is required and this is great if you want both life and accident death benefits.
  • PureTerm 100 has the most coverage, with the flexibility of getting coverage from $50-thousand to $5-million. It’s for ages 18 to 85 and a medical exam is required to apply. This is perfect for people who want a set plan for life.

Multi-coverage, with just one plan

BMO Life Insurance offers another option called 3-in-1 with insuranceNOW plus that covers life, critical illness, and accident disability insurances.  

  • Life Insurance can cover between $50-thousand to $250-thousand.
  • Critical Illness Insurance is designed to help in case you’re diagnosed with a serious illness such as a heart attack, stroke, or cancer. You can receive up to 50 per cent of the life insurance coverage and is designed for people age 18 to 49.
  • Accidental Disability Insurance will offer coverage if you suffer a disability as a result of an accident (see policy for more details). This would include up to 15 per cent of your chosen life insurance coverage and is also for people aged 18 to 49. You can receive a critical illness benefit or accidental, but not both under this plan.

Some additional features in the 3-in-1 plan include: 

  • Option for extended life benefit past the age of 65
  • No medical exams are required for approval
  • A guaranteed rate for as long as the policy is in force
  • Information and advice from the Best Doctors program in regards to health choices and the Helping Hands program for information on counselling, guidance and help with recovery. 


Other Insurance Coverages

BMO Insurance can take care of other parts of your life, as well, such as health and travel, such as: 

  • Accidental Death Benefits
  • Guaranteed Hospital Cash
  • Life Recovery Plus
  • Travel Insurance
  • Retirement programs

For more information about BMO Insurance’s other plans, visit the company’s website to find the right option for you. Dependable, yet flexible, this company comes with the assurance that you’ll be taken care of.

Find out now if BMO Life Insurance is right for you by using our online comparison tool to compare life insurance quotes today.