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Examples of BMO Life Insurance Quotes (click to open)

Here are a few examples of CPP Life Insurance quotes (as of December 2018). Please consider that these are approximate rates.

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Term 10,
Coverage $100,000

Male, non-smoker
$ per month

Female, non-smoker
$ per month

30 years old

$11.79

$9.54

35 years old

$12.06

$10.35

40 years old

$12.87

$11.79

45 years old

$17.19

$14.22

50 years old

$22.14

$17.28

55 years old

$32.58

$25.65

60 years old

$52.20

$39.42

65 years old

$85.59

$61.83

 

Term 20,
Coverage $100,000

Male, non-smoker
$ per month

Female, non-smoker
$ per month

30 years old

$14.04

$12.33

35 years old

$15.66

$13.32

40 years old

$20.70

$16.20

45 years old

$29.52

$22.41

50 years old

$45.18

$34.38

55 years old

$76.95

$54.72

60 years old

$131.31

$90.81

65 years old

$232.65

$159.21

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BMO Life Insurance: Overview (click to open)

The company acquired AIG Life Insurance Company of Canada (AIG Life of Canada) 2009 and became BMO Life Assurance Company. It 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 separate distribution arm.

Strengths / Plusses

Weaknesses / Minuses

  • Very well-priced term insurance line, that’s including term 10, term 20, and term 30 policies
  • Do not offer disability insurance
  • Do not offer participating whole life policies.

Please note that the CPP (Canada Protection Plan) is underwritten by Foresters Insurance.

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BMO Life Insurance: Products

In general, BMO Life insurance products are not extremely sophisticated – they include Term Life and Permanent Life including a Term 100 product and No Medical Life insurance product.

Their flagship direct life insurance plan is BMO Guaranteed Life Plus (No Medical Life Insurance). This plan is a guaranteed-issue policy, which provides coverage with no health questions and no medical tests. However, the policy still has a death benefit, which is limited in the first two years, unless the death is accidental, to a return-of-premium.

BMO Insurance also offers a range of life insurance products via its broker network.

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LSM Insurance is an Independent Life Brokerage celebrating 25 years in Canada. We are contracted with BMO Life Insurance and over 15 leading life insurance companies in Canada, helping make sure you get the best plan at the best price.