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BMO Life Assurance Company (formerly AIG Life Insurance)

BMO

Address:

BMO Life Assurance Company of Canada
60 Yonge Street
Toronto, Ontario
M5E 1H5

Phone: 1-800-387-4483 (BMO Life Assurance Company) 1-866-360-9765 (BMO Life Insurance)

Web Address: www.bmoinsurance.com

BMO Financial Group is a Canadian-based North American bank, established in 1817 as Bank of Montreal. The group provides a broad range of retail banking, wealth management and investment banking products and solutions to more than 7 million clients across Canada.

The company recently completed an acquisition of AIG Life Insurance Company of Canada (AIG Life of Canada). From the 1st of April, 2009, the former AIG Life of Canada became BMO Life Assurance Company and adopted the BMO Insurance brand for all of its marketing, broker and customer communications. It is now operating within BMO's wealth management division, the Private Client Group. It should be noted that BMO Life Insurance which existed prior to the AIG acquisition still exists under a seperate distribution arm.

News about BMO Life Assurance Company

6 Responses to “BMO Life Assurance Company (formerly AIG Life Insurance)”

  1. I just noticed that BMO took over Aig Insurance in January could u let me know why i was not notified about it and does it change anything for our life insurance and when will i get the papers from the bank because i guest now my papers from AIG are worth nothing. Please let me know as soon as u can. Thank you

    claudette thought on May 7th, 2009 6:59 am

  2. Hi Claudette,

    Thanks for the note. I am not sure why you were not notified. We have been in touch with all of our BMO (formerly AIG) clients to let them of the change. The policies provisions remain unchanged.

    You will not receive a new policy so hold onto your old documents. The contract remains intact just the company administering the policy has changed.

    I hope this helps clarify things. Regards … Lorne

    lorne thought on May 7th, 2009 8:32 am

  3. It should also be the noted the BMO deal was actually completed on April 1, 2009. BMO maintains two separate companies 1) BMO Life Insurance and 2) BMO Life Assurance Company (formerly AIG Life of Canada)

    Regards … Lorne

    lorne thought on May 7th, 2009 3:48 pm

  4. If I get life/mortgage insurance from BMO am I buying from a bank or from an insurance company. I want my insurance underwritten as soon as I sign up for it, not when I want to claim it. Is BMO the way to go?

    Alison thought on May 19th, 2009 7:40 pm

  5. Hi Alison,

    Thanks for the note - it’s a great question. BMO offers creditor insurance where the bulk of the underwriting is done at the time of claim. These plans also have a declining death benefit

    They also offer individual insurance sold through their broker network. With this type of plan the underwriting is done at the time of application.

    Best Regards … Lorne

    lorne thought on May 19th, 2009 8:23 pm

  6. i just got your notice in the mail informing me of the change…. since we live in italy and i pay by ank draft .. what do i do now…. who do i send it to now…. i tried to call the 800 number but it doesnt work from europe so i dont even know who i can contact with my questions…. thanx loreta

    loreta alonzi thought on May 27th, 2009 1:18 am

  7. Hi Loreta,

    Thanks for the note. You would have to call BMO directly or you broker of record to verify the best way to proceed.

    The premiums on Canadian life policies generally have to be paid in Canadian dollars.

    Regards … Lorne

    lorne thought on May 27th, 2009 5:39 am

  8. Why was this insurance taken over by BMO?

    Gladys Noble thought on June 25th, 2009 7:19 am

  9. Hi Gladys,

    Thanks for the note. I can not speak for BMO but I’m assuming they found value in the AIG Life of Canada’s book of business.

    From a consumer perspective it’s a win win. There original policy provisions remain intact and there policy is now administered by one of Canada’s premier financial service providers.

    lorne thought on June 25th, 2009 9:28 am

  10. I am an AIG Insurance policy holder and I have received a letter from BMO on the acquisition. I need to update my residential address which has changed. Can I do it online or do I have to call my financial advisor? Thank you.

    Regards,

    Elizabeth

    Elizabeth thought on July 19th, 2009 10:34 am

  11. Hi Elizabeth,

    Thanks for the email. Yes you can contact BMO directly at Phone: 1-800-387-4483 (BMO Life Assurance Company) 1-866-360-9765 (BMO Life Insurance) or your broker of record.

    Regards … Lorne

    lorne thought on July 19th, 2009 1:42 pm

  12. Hi there, i was not aware of the change. How do i update my address information with the new company?

    Nat thought on July 22nd, 2009 12:45 am

  13. Hi Nat,

    You would have to contact BMO directly at Phone: 1-800-387-4483 (BMO Life Assurance Company) 1-866-360-9765 (BMO Life Insurance) or your broker of record.

    lorne thought on July 22nd, 2009 8:38 am

  14. I don’t recall to have received a notification for the transfer from AIG to BMO. Although your website indicates that there is no change in the policy, I would appreciate to receive a written confirmation thereof and my new contact, etc.
    Is it possible to have the premium paid automatically from my Visa account?
    Gus

    Gus thought on September 8th, 2009 2:24 pm

  15. Thanks for the note. You should be able to get a comfort letter from BMO or your broker of record

    Bank of Montreal
    119 Rue St-Jacques
    Montreal, Quebec
    H2Y 1L6

    Phone: 1-800-387-4483 (BMO Life Assurance Company) 1-866-360-9765 (BMO Life Insurance)

    Web Address: www.bmolife.com
    Email Address: feedback@bmo.com(English), remarque@bmo.com (French)

    lorne thought on September 8th, 2009 5:22 pm

  16. i was not aware of changed until i read my bank statement that bmo deducting the monthly payment from my account.how come i was not informed about it?

    rowena thought on September 21st, 2009 6:08 pm

  17. Hi Rowena,

    We informed all our BMO (Formely AIG clients about the change) Your policy features and guarantees remain intact but I agree your broker should of informed you about the change. Regards … Lorne

    lorne thought on September 21st, 2009 6:16 pm

  18. Can I have a notice on my life insurance for my policy originally purchased from Norwich union that was taken over by AIG. my file number or policy number is 8225547. I would like to have up-to-date paperwork.
    thank you

    Brian

    Brian thought on October 10th, 2009 5:10 pm

  19. Hi Brian,

    Thanks for the note. You would have to contact your broker or BMO directly:

    Phone: 1-800-387-4483 (BMO Life Assurance Company) 1-866-360-9765 (BMO Life Insurance)

    Email Address: feedback@bmo.com

    lorne thought on October 12th, 2009 12:05 pm

  20. My mother I believe had a life insurance policy but not positive which it was. I was told Norwich was the name . But on the other hand she also dealt with the bank of Montreal some time ago so it could be BMO life assurance co.

    How can I find out if her policy is with them?

    Florence thought on November 14th, 2009 1:18 am

  21. Hi Florence,

    You could call BMO directly at 1-800-387-4483 (BMO Life Assurance Company) or 1-866-360-9765 (BMO Life Insurance).

    The attached article http://www.cbc.ca/money/story/2008/05/15/f-lostmoney-lifeinsurance.html also has some good ideas

    Regards … Lorne

    lorne thought on November 14th, 2009 1:35 pm

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