BMO Easy Term vs. Preferred Term Life insurance

Posted on February 8, 2011 and updated February 9, 2011 in BMO Life Insurance, Canadian Life Insurance Companies, Insurance Types, Life Insurance Canada News, Term Insurance 2 min read

BMO Insurance offers the following term policies: Easy Term, which is sold online or via BMO’s call center, or Preferred Term, which is available through BMO’s independent broker network.

Some of the other differences are listed below:

  • Easy Term is available in face amounts between $50,000 and $5M. Preferred Term is available in face amounts between $100,000 and $10M.
  • Easy Term is convertible to Term 100 coverage. Preferred Term is convertible to all of BMO’s permanent policies, including their Term 100 plan.
  • Easy Term offers monthly or annual premiums. Preferred Term offers monthly, semi-annual, and annual premiums.
  •  Easy Term offers two available riders. Preferred term offers four available riders, including their business guaranteed insurability option.
  • Easy Term offers a 30-day money back guarantee. Preferred term offers a 10-day money back guarantee.
  • Easy Term offers standard rates. Preferred Term offers preferred and standard rates. Preferred rates can result in substantial savings for individuals who are in very good health and have a good family health history.

For more details on life insurance in Canada, contact us at 1-866-899-4849, or visit our Term Life Insurance Instant Quote Page.