BMO Life Assurance Re-Pricing Term Life Plans

Posted on May 6, 2009 and updated June 25, 2010 in BMO Life Insurance, Life Insurance Canada News 4 min read
BMO cropped

AIG Life Canada was once very aggressive in the term life market and its successor, BMO Life Assurance, has followed suit by re-pricing both its Term 10 and Term 20 policies, effective May 1st.

BMO Life Assurance, has followed suit by re-pricing both its Term 10 and Term 20 policies, effective May 1st.

Both plans have the follwing qualities:

  • They are guaranteed renewable to age 85.

  • They are guaranteed convertible without a medical

  • Preferred plans are available for those in excellent health and have very good family health history.

  • Multi-life discounts, with the policies available on a joint-life basis.

The plans also can come with a Unique Business Guaranteed Insurability Option, which gives the business owner the option to buy additional insurance, as the business grows, without requiring additional insurability evidence.

But how does BMO’s Term Insurance stack up against the competion with its new rates? It’s time to take a closer look, so that you can see the best fit for your situation:

 

Preferred Term 10 (Standard Rates)

Face Amounts 
Male Non-Smoker (Ages)  Female Non-Smoker (Ages)
 354045505560 354045505560
$250,000121222 611222
$500,000321222 222333
$1,000,000112223 111223

Preferred Term 20 (Standard Rates)

Face Amounts 
Male Non-Smoker (Ages)  Female Non-Smoker (Ages)
 354045505560 354045505560
$250,000212322 321225
$500,000111122 111122
$1,000,000222233 112233

 

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LSM Insurance
LSM Insurance

Hi Donna,

The plan you are referring to is BMO’s non medical life insurance plan.

These type of plans have smaller face amounts you can get more details on non medical life insurance at https://lsminsurance.ca/application/ontario/no-medical-life-insurance

Best Regards … Lorne

Donna
Donna

I saw on the Television lasr night that you could get a $10,000,oo policy for as little as $5,00 a week. I would like information about this one.

Much appreciated
Donna