BMO Permanent Life Insurance

Guaranteed-Life Plus:Permanent Life Insurance where the acceptance is guaranteed.

Permanent Life Insurance

If you are between the ages of 40 ad 75, Guaranteed-Life Plus insurance allows you to be covered immediately with no questionnaires needed to be filled, or you needing to a medical exam. You can breathe a sigh of relief knowing that you are covered for eternity if you regularly continue to pay your premiums. You will be able to take care of the important people in your life financially when you are gone.

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Benefits of Guaranteed-Life Plus insurance:

  • You can get basic benefit coverage up to $50,000

  • Get accidental death benefit coverage up to $250,000

  • Choose the premium that's right for you. Premiums from $20 to $120 per month.

  • Once we review your application, your accidental death benefit coverage will start.

  • Regardless of your health status, you're eligible for this policy.

  • Claims process for beneficiaries is very simple.

  • Your beneficiary will receive a tax-free cash benefit.

  • Get lifetime coverage if you continue to pay your premiums up to the age of 95

Who qualifies for Guaranteed-Life Plus insurance?

  • Canadian residents between the ages of 40 to 75are eligible for this insurance plan.

Key features of Guaranteed-Life Plus insurance

  • Basic Benefit: Following your demise, your beneficiaries are provided with a tax-free cash benefit. The basic benefit in the first two years is the amount of premiums paid.

  • Accidental Death Benefit: If you die from an accident that is covered in the policy, your beneficiary will receive five times your basic benefit The coverage ends when you turn 85

  • Guaranteed coverage: No health questions are asked, and no medical exam is required for you to undergo when you apply for this insurance.

  • 30-day free look: You have the option to cancel any time within the first 30 days if you feel the policy does not suit your needs.

What is not covered under the Guaranteed-Life Plus insurance policy?

Your beneficiary will not receive benefits if:

  • You provide false or incomplete information during the application process.

Additionally, you will not be entitled to receive any payment from the accidental death benefit, if your death occurs directly or indirectly from:

  • Use of drugs or alcohol

  • Civil disorder or war

  • Attempting or commissioning someone to commit a criminal offence

This information is only an abstract. Actual terms, exclusions and limitations are mentioned in the policy.

  • If you pass away more than 200km from your Canadian residence, service will be provided by Helping Hands. The arrangement will cover the transportation of remains to your Canadian residenc

  • Any interest earned during the claims process may be taxable under current tax legislation.

  • Accidental death benefit coverage ends when you turn 85

EasyOne Life

Whole Life Insurance for individuals between the ages of 50 and 80 years.If you would like to leave something behind to ensure that your loved ones are not in any difficult financial position to cover your funeral expenses or other final costs, make sure you choose EasyOne Life. This coverage gives you lifetime coverage as long as your premiums are being paid. The benefit received from EasyOne Life can be used by your beneficiary in any way they see fit, including settling your financial affairs. Coverage is guaranteed as long as you don’t have a serious illness. Additionally, you will also have access to the Helping Hands health and wellness assistance program. Remember! It’s never too late to apply for life insurance.

Key Benefits of EasyOne Life Insurance

  • You are eligible for tax-free coverage of up to $50,000

  • Significantly higher cash benefits.

  • Fast and easy enrolment: There is no need for medical examinations or lengthy health questionnaires to be filled. You need to sign a declaration stating that you don't have a serious illness.

  • Access to Helping Hands: Helping Hand, a health and wellness program also gives you access to certain referral services, like helping you find a home, as well as child and elder care services in your vicinity.

  • If you pass away more than 200 km from home, we will make the necessary arrangements to return your remains at no charge to your family or estate.

Who Qualifies for EasyOne Life Insurance

  • Canadian residents between the ages of 50 to 80 years.

  • If you can sign a declaration of health that says you have no serious illness, you are automatically approved.

Key features of EasyOne Life Insurance

  • Level of benefits range from $5,000 up to $50,000

  • Once we receive your completed application, and you provide a declaration you don't have a serious illness, you will receive coverage immediately.

  • 24/7 support that is confidential from the Helping Hands program while the policy is in effect.

  • Your beneficiaries will receive a tax-free cash benefit after you are no more.

  • You can cancel any time within the first 30 days with no further obligation.

What's not covered?

Your beneficiary will not be entitled to receive benefits if:

  • You provide incomplete or wronginformation during the application process.

  • If your death results from suicide within two years from your policy start date. We will reimburse your premiums in this case.

This information is only a summary. Actual terms, exclusions and limitations are mentioned in the policy. A sample policy can be seen here. Any interest earned during the claims may be taxable under the current tax legislation.

Term 100

Financial protection for as long as you are alive.

If you’re planning your will or estate and need a source of funds, Permanent Life Insurance can help:

  • Pay for your final expenses.

  • Replace your lost future income in the event of your demise.

  • Offset the taxes which will become payable on your Registered Retirement Savings Plan (RRSP) when you pass away.

  • Minimize the impact of taxes on other taxable assets in your estate.

  • Leave behind a financial gift in your name to your favourite charity.

What is Term 100?

Term 100is a Permanent Life Insurance protection policy that provides the policyholder with protection and guaranteed premiums payable until the age of 100

With Term 100 from BMO Insurance, you’ll get:

Permanent coverage

  • Coverage for the entirety of your life if you keep paying your premiums.

  • Till you reach 100 years, your premiums will remain level and fixed.

  • You can choose coverage from $50,000 up to $5 million.

Optional riders

  • Term 100 has multiple optional riders that you may want to add to your policy. Our team of experienced insurance advisors can help you choose the best term rider that suitsyou and your family.

BMO Insurance Health AdvocateTM Plan

You and your loved ones will have complete access to BMO Insurance’s innovative and comprehensive assistance services at absolutely no additional cost with the Term 100 plan.

What's not covered under Health AdvocateTM Plan

Your beneficiary will not get the benefits if:

  • You provideincorrect or information that is not true during the application process.

  • Your premiums will be refunded if your death results from suicide within two years from the date your policy comes into effect.

This information is only a summary. Actual termsare described in the policy.


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