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BMO Life Assurance Company (formerly AIG Life Insurance)

BMO Life Assurance Company (formerly AIG Life Insurance) Policies
BMO

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

10 Responses to “A Closer Look: BMO Insurance’s Direct Term”

  1. 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

    Rob thought on November 24th, 2009 1:54 am

  2. 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)

    lorne thought on November 24th, 2009 9:28 am

  3. 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 ?

    arthur thought on December 16th, 2009 1:56 pm

  4. 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

    lorne thought on December 16th, 2009 2:48 pm

  5. 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?

    Douglas thought on January 19th, 2010 12:00 pm

  6. 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

    lorne thought on January 19th, 2010 12:28 pm

  7. 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.

    Suzanne thought on July 4th, 2010 8:14 pm

  8. 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.

    LSM Insurance thought on July 5th, 2010 7:37 am

  9. 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

    Rein thought on July 29th, 2010 5:52 pm

  10. Thanks for the note. The irrevocable beneficiary must also sign off on any policy changes.

    LSM Insurance thought on August 12th, 2010 6:54 pm

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