BMO Insurance offers a series of plans which are available directly through their call centre and via direct mail campaigns. Among these direct plans is their Accidental Death Program. It’s a stand alone accidental policy and applicants can qualify for $50,000.00 to $250,000.00 of accidental death protection without a medical.
The premiums on the plan are as follows:
$50,000.00 $ 4.99/month
$100,000.00 $9.49/month
$200,000.00 $18.49/month
$250,000.00 $22.99/month
The plan also pays off double the face amount if the insured dies as a result of an accident while traveling as a fair-paid passenger on any form of common carrier transportation (such as plane, boat, bus, or taxi). The coverage doesn’t increase or decrease, and remains in-force until the insured’s 76th birthday.
Accidental Death Coverage, while cheap is not always the best deal. Money Sense magazine recently examined whether accidental death insurance is a good value.
“Accidental deaths are rare, accounting for only about 5% of mortality. But accidental death insurance often costs more than a term life policy that would cover you no matter how you die.”
Aside from the coverage offering poor value, the biggest strike against any accident death policy is, a family doesn’t need more money just because a person dies in an accident. In fact, a family’s costs would likely be higher if the insured were to die from cancer or some other disease, which is a much more common cause of death than accidents. Besides Accidental Death BMO also offers a host of affordable Term and Permanent products sold through their independent broker channel. They are one of the leading distributors of life insurance in Canada.
For more details on Accidental Death Insurance, Individual Term Life or Permanent Insurance, please contact us at 1-866-899-4849, or visit our online Instant Quote Page.
