BMO Easy Term vs. Preferred Term Life insurance

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.

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