BMO Life Assurance Company (formerly AIG Life Insurance)
President & CEO: Peter McCarthy
AM Best Rating: A
Assets: $208.7 billion
Net Income: $424 million
New Premiums Written: $379 million
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.
* Rating courtesy of www.ambest.com
*Info courtesy of BMO Financial Group Annual Report 2011 Personal & Commercial Banking Segment and canadainsurancequotes.org.
1 year stock chart for Bank of Montreal

The above stock charts are for the parent company, Bank of Montreal of which BMO Financial Group is a subsidiary. These stock charts are for informational use only and are meant to reflect the current financial well-being of the parent company.
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
- 02/02/2012
BMO Releases 2011 Annual Report
- 01/21/2012
Cash Back Life Insurance
- 12/06/2011
BMO Critical Illness Insurance
- 11/04/2011
BMO Insurance Policy Fee Discounts: Combine and Save
- 11/01/2011
Universal Life Rates Are Set to Go Up Again
- 10/31/2011
Why Low Interest Rates are Bad News for Canadian Life Insurance Companies
- 10/31/2011
BMO Insurance Life Dimensions and Life Provider Universal Plan
- 10/26/2011
BMO Insurance Solutions
- 10/09/2011
The Four Tax Benefits of Universal Life Insurance
- 08/24/2011
Life Insurance for People Over 60
- 08/24/2011
50 Plus Life Insurance
- 08/01/2011
BMOinsurance.com
- 07/26/2011
BMO Life Insurance Company
- 07/20/2011
Why Are Whole Life Insurance Rates and Universal Life Rates Increasing in Canada?
- 07/19/2011
Affordable But High Quality Term Life Insurance Policies in Canada
- 06/27/2011
How TD’s 10 Year Term Life Insurance Policy Compares to their Competition
- 06/08/2011
BMO Insurance Lowers Term 10 and Term 20 Rates
- 06/07/2011
Ask Our Experts Your Life Insurance Questions
- 06/07/2011
BMO Insurance Announces Multi-Policy Discount
- 05/29/2011
What is Guaranteed Acceptance Life Insurance?
- 05/15/2011
Comparing 10, 15, and 20-Year Term Insurance Rates
- 04/30/2011
Term 20 Life Insurance for Seniors
- 03/14/2011
No Medical Life Insurance: Understanding the Two-Year Waiting Period
- 03/02/2011
BMO Insurance: Universal Life and Helping Hands
- 02/22/2011
Who Hasn’t Raised Their Universal Life Rates?
- 02/08/2011
BMO Easy Term vs. Preferred Term Life insurance
- 12/12/2010
Bank of Montreal’s Mortgage Life Insurance Policy
- 12/12/2010
Comparing BMO Mortgage, Life, and Disability Insurance Vs. Individual BMO Insurance Policies
- 11/18/2010
Costco Term Life Insurance Policy
- 11/02/2010
BMO Insurances Easy Term Life Insurance
- 11/02/2010
Critical Illness Term to 75
- 10/17/2010
TD Insurance’s Business Credit Life Insurance
- 10/16/2010
BMO Insurances Universal Life Solutions: Life Provider
- 10/16/2010
ScotiaLife Financial Term 10 Insurance
- 10/01/2010
Understanding Universal Life Insurance
- 09/13/2010
Life Insurance in Canada: Smoker versus Non-Smoker Rates
- 09/08/2010
Term Insurance versus Permanent Insurance
- 09/06/2010
BMO Guaranteed Life Plus vs. The Easy One Life Insurance Application
- 08/27/2010
BMO’s Children’s Life Insurance Plan
- 08/27/2010
Five Facts about BMO Insurance
- 08/05/2010
Term Life Insurance for Seniors
- 07/30/2010
Whole Life Insurance for Seniors
- 06/15/2010
Comparing Non-Medical Life Insurance Simplified Issue Plan
- 06/02/2010
Comparing Mortgage Life Insurance Rates Among the Big Five Banks
- 05/29/2010
BMO Insurance adds ETFs to its Universal Life Dimesion Plan
- 05/19/2010
BMO Easy One Life Insurance Pricing
- 05/10/2010
Non-Medical Life Insurance: Should I Buy Direct or Through a Broker?
- 05/06/2010
Term Life Insurance Rates and Renewal
- 04/23/2010
A.M. Best Ratings for 2009-2010
- 04/22/2010
BMO Insurance’s Well Woman Cancer Insurance Versus Critical Illness Insurance
- 04/05/2010
BMO Insurance – Affordable Critical Illness Protection
- 04/05/2010
Critical Illness Insurance: Is It Really Necessary?
- 04/05/2010
Universal Life Insurance: Increasing Versus Level Death Benefits
- 04/03/2010
BMO Insurance: Bundle Up and Save
- 04/02/2010
Life Insurance Policy Fees
- 04/01/2010
BMO Term Insurance: Should I Buy Direct, or Through an Independent Broker?
- 03/31/2010
Best Term 100 Life Insurance Plans in Canada
- 03/19/2010
Life Insurance and the Terminal Illness Benefit
- 03/16/2010
Guaranteed Issue Life Insurance: Understanding the Two-Year Wait Period
- 02/26/2010
BMOs Accidental Death Benefit Program
- 02/15/2010
A Synopsis of Guaranteed Life Insurance Policies in Canada
- 01/29/2010
BMO Insurance Offers LifeProvider
- 01/13/2010
Life Insurance with Accidental Death: Is it a Good Deal?
- 12/16/2009
BMO Guaranteed Life Plus Pricing
- 12/11/2009
Canada’s Best Universal Life Policies
- 11/19/2009
BMO Insurance’s EasyOne Life Non-Medical Life Insurance
- 11/17/2009
BMO Insurance’s Guaranteed Life An In Depth Analysis
- 11/06/2009
BMO Insurance 20-Pay Whole Life Plan: High Premiums, But Strong Paid-Up Values
- 11/04/2009
BMO Insurance Offers Three Unique Term 100 Solutions
- 10/27/2009
BMO Insurance’s Critical Illness Insurance Plan: Life Recovery Plus
- 05/06/2009
BMO Life Assurance Re-Pricing Term Life Plans
- 04/30/2009
A Closer Look: BMO Insurance’s Direct Term
Who do I contact to get information on an insurance policy that stared with AIG. I have been paying premiums and require information as there has been no information sent to me about this policy.
Please have someone contact me as soon as possible.
Thank you
Rob
Hi Rob,
Thanks for the note. You can contact BMO (contact details below) or your broker and they can send you a policy summary. Regards …
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)
i have a small policy through BMO and would like to fnow if i have a cash value on it that i can take out ?
Hi Arthur,
Thanks for the note. You would have to contact your broker or BMO directly. Their customer service centre number is 1.800.387.4483
I have a Universal life policy that is over half paid out. I would like to change the investment portion on this policy . Is it possible to do this without excess fee’s or penalties? How would I go about it?
Hi Doug,
Thanks for the note. You should be able to do this at no charge but you would have to contact your BMO broker or BMO directly.
Regards … Lorne
Would like to know what would the penalty be for cancelling our policy with you. My husband and I have been members for over 15 years.
Hi Suzanne,
Thanks for the note. Term life policies do not have any surrender penalties. Most Universal Life policies do have surrender penalties in the first 7 to 10 years but you should be past this point.
One tip to consider always get a complete physical before canceling your life insurance. You should also contact your broker or BMO directly at 1.800.387.9855 to verify your policy details.
I was wondering how can i change the beneficiary in my term life insurance? If my original (with AIG) policy states that I have put an “irrevocable” beneficiary…can I still change it if my circumstances has changed?
thank you.
rein
Thanks for the note. The irrevocable beneficiary must also sign off on any policy changes.