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BMO Insurance’s EasyOne Life Non-Medical Life Insurance
EasyOne is better than Guaranteed Life Plus.
Photo by Tom Grundy
BMO Insurance's EasyOne Life Plan is available through BMO's call centre. The plan is an alternative to their Guaranteed Life Plus Plan and has the following features:
- Coverge takes effect from day one, unlike BMO's Guaranteed Life Plus Plan.
- Face amounts range from $2,500 to $15,000.
- Smokers and non-smokers get the same rate.
- Applicants must be between ages 50 to 75.
Advantages
- Level premiums guaranteed to never increase and the premiums are lower than BMO's Guaranteed Life Plus Plan.
- Coverage takes effect from day one.
Disadvantages
- Unlike the Guaranteed Life Plus Plan, there is no built-in accidental death coverage.
- The maximum face amount is only $15,000.
- While better than the Guaranteed Life Plus Plan, it is still uncompetitive relative to primary non-medical life insurance carriers, especially among non-smokers.
The pricing of BMO's EasyOne non-medical life insurance plan for a 60-year-old, female non-smoker is $72/month. The equivalent coverage with Assumption Life's Golden Protection Plan is $51.45/month. It also pays out double if the insured dies by accident. Canada Protection Plan's Simplified Life Plan is $50.63/month.
You can get more details, on non-medical life insurance by visiting our Non-Medical Life Insurance Instant Quote Page, or by calling us at 1-866-499-4849.
Direct line: 905.248.4849 Email:
Please send info on 15,000 Assumption Life’s Golden Protection Plan 51.45 monthly. Am 60 year old female non-smoker.
Sincerely, Shirley Vacon
Hi Shirley,
Thanks for the note - I will email you the application questions and some more details now.
Im a 59 yr old smoking male diagnosed with squamous cell carcenoma of the tongue. Went thru treatments(radiation and chemo) 3 months ago and have been told treatments ere succesfull. Am I insurable and if so for what amount premium and would there be an exclusion if I died fro this cancer
Hi Arnie,
Thanks for the note. Based on your note BMO Guaranteed Life Plus (which is only sold directly through BMO might a good fit) Their pricing can be seen in the attached article http://lsminsurance.ca/life-insurance-canada/2009/12/bmo-life-plus-pricing-chart.
It is likely that you only qualify for a guaranteed issue plan (no medical tests and no health questions) rather than a simplified issue plan (no medical tests and 3 to 12 health questions).
You may also want to check out this article a synoposis of guaranteed issue plans in Canada http://lsminsurance.ca/front-page/2010/02/worst-guaranteed-issue