BMO Insurance Offers Three Unique Term 100 Solutions

Posted on November 4, 2009 and updated November 2, 2010 in BMO Life Insurance, Life Insurance Canada News 2 min read
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Term 100 Policies provide premiums level for life and lifetime protection. Traditionally, Term 100 policies do not build a cash value or have paid-up values. That means that if the insured decides to discontinue his/her coverage at any point in the future, there would be no cash value returned to them and they will not have a reduced paid-up option, allowing them to keep a certain amount of coverage without paying a higher additional premium. BMO Insurance (formerly AIG Life Insurance) offers a stripped down traditional version and two enhanced plans with cash values and paid-up values.

 

    • BMO’s pure Term 100 plan is a stripped down traditional Term 100 plan with no cash values and no paid-up values. It’s available to applicants age 50 to 85. $100,000 of coverage for a 50-year-old, male non-smoker is $122.49/month. The plan is paid-up at age 100, which means that if rhe insured lived until age 100, no further payments would need to be made.

    • Their Term 100 Plus plan is available to those age 18 to 75. Cash values and reduced  paid-up values are available starting in year five. A 50-year-old non-smoker needing $100,000 of Term 100 Plus coverage would pay $145.26/month. The cash value in year 20 would be $27,620 and the paid-up value would be $43,200.

    • Their Term 100 Platinum plan is available up to age 75. Cash values are available starting in year five and reduced paid-up values are available in the same time frame. $100,000 of Term 100 Platinum coverage for a 50-year-old male, non-smoker would be $165.42/month. Cash values in year 20 would be $39,600 and paid-up values would be $61,800. 

You can get additional quotes on BMO plans, as well as other leading carriers in Canada, by visiting our Instant Quote Page or by calling our office at 1-866-899-4849.

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