BMO Insurance’s EasyOne Life Non-Medical Life Insurance

Posted on November 19, 2009 and updated November 2, 2010 in BMO Life Insurance, Canadian Life Insurance Companies, Life Insurance Canada News 2 min read

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:

  1. Coverge takes effect from day one, unlike BMO’s Guaranteed Life Plus Plan.

  2. Face amounts range from $2,500 to $15,000.

  3. Smokers and non-smokers get the same rate.

  4. 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.

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elizabeth f
elizabeth f

What is the procedure to change a beneficiary.

LSM Insurance
LSM Insurance

You can contact BMO Insurance directly at 1-800-387-9855 they can send you a change of beneficiary form.

LSM Insurance
LSM Insurance

Thanks for the note the Easy One application has health questions but no medical tests.

LSM Insurance
LSM Insurance

Does this application have any health questions?

LSM Insurance
LSM Insurance

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 https://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 https://lsminsurance.ca/front-page/2010/02/worst-guaranteed-issue

Arnie
Arnie

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

LSM Insurance
LSM Insurance

Thanks for the note – the rates will depend on the amount of coverage, you age, gender and smoking status.

We will be in touch by email.

Lisa F
Lisa F

I would like info on a simplified issue life insurance – rates and plan details.