BMO Insurance’s EasyOne Life Non-Medical Life Insurance

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
    August 18, 2013 at 8:55 am

    What is the procedure to change a beneficiary.

    • LSM Insurance
      August 19, 2013 at 1:10 pm

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

  • LSM Insurance
    August 15, 2012 at 12:31 pm

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

  • Georgina
    August 14, 2012 at 1:30 am

    Does this application have any health questions?

  • LSM Insurance
    March 3, 2010 at 12:20 pm

    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

  • Arnie
    March 2, 2010 at 5:35 pm

    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
    February 1, 2010 at 1:51 pm

    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
    January 27, 2010 at 6:06 am

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