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BMO Insurance

What makes selecting life insurance from BMO Insurance advantageous?

Regarding BMO Insurance

As a division of BMO Financial Group, BMO Insurance boasts over two centuries of heritage and experience. This financial robustness and well-established reputation empower the firm to provide insurance offerings with comprehensive advantages, adaptable coverage choices, and highly competitive pricing.

BMO Insurance has cultivated the trust of its clientele through its integrity, dedication to innovation and diversity, and unwavering commitment to delivering exceptional customer service. With integrity, a focus on innovation and diversity, and a dedication to delivering outstanding customer service, BMO Insurance has garnered the confidence of our clientele. BMO Insurance possesses extensive expertise in crafting and underwriting insurance products, supported by a seasoned team to address all inquiries. Clients of BMO Insurance are assured of receiving the necessary support, whether it entails assessing their financial requirements or navigating the claims process during challenging times. BMO Insurance is devoted to streamlining the insurance underwriting process and establishing itself as a dependable ally to its clientele.

Variety and Incorporation: BMO Insurance's Principles

The dedication to diversity and inclusion is a fundamental aspect of BMO Insurance's principles. BMO Insurance is deeply committed to offering its employees an inclusive environment where all can thrive. Advancing workforce diversity and inclusion in the workplace enables BMO Insurance to set itself apart as a preferred employer.

BMO Insurance offerings and services

BMO Insurance provides numerous financial products and services encompassing the prevalent forms of insurance. Here's a summary of the offerings from this insurer.

Assurance vie universelle

Life is replete with unforeseen occurrences, and an accident or serious illness can place both you and your family in a precarious financial situation. BMO Insurance presents three types of plans to address such unforeseen circumstances:

  • Accidental Death Insurance is tailored to provide financial aid to policy beneficiaries in the event of the sudden demise of the policyholder/insured. The premiums for this policy are highly economical—less than $1 per day—and offer coverage ranging from $50,000 to $250,000. Interestingly, the payout doubles if the insured passes away while in a public transportation vehicle. The underwriting process is swift and straightforward, requiring no medical examination. Coverage remains valid worldwide until the policyholder’s 76th birthday, irrespective of their health status.

  • The Convalescence Assistance Plus Plan aims to offer financial assistance to individuals and families whose financial stability is jeopardized due to the recovery period of one of their members. Subscribers to this product can opt for one of two budget-friendly plans, providing benefits of up to $50,000. These plans grant access to top-notch medical care, alleviating financial concerns during the recovery process.

  • Critical Illness Insurance shares the same objectives as the other two products offered by BMO Insurance in this category. It provides an immediate payment of $25,000 to $2,000,000 upon diagnosis of critical illnesses such as cancer, heart attack, or stroke.

Travel Insurance

BMO Insurance presents 2 travel insurance options: Annual Plans and Single Trip Plans. Annual plans cater to individuals who travel frequently (typically for work) throughout the year. For an annual premium of about $50, the basic plan offers coverage for emergency medical care abroad (or outside your province of residence) and a round-the-clock travel assistance service, irrespective of the number of trips taken annually. The Privilege Package extends the same coverage but also encompasses insurance for trip cancellation/interruption/delay, flight delays, and coverage for baggage and personal belongings.

Single Trip Plans are tailored solutions requiring individual quotes for each trip. These 3 options cover similar scenarios as the annual plans but with varying extents of coverage.

Assurance vie

Term Life Insurance: At BMO Insurance, akin to other insurers, term life insurance serves to furnish the policyholder with financial security for a specified duration - 10, 15, 20, 25, or 30 years in this instance - at a more competitive rate compared to permanent life insurance. BMO Insurance's coverage spans from $100,000 to $5,000,000 and caters to individuals aged 18 to 75. A medical evaluation is necessary to obtain a quotation. Besides offering more economical premiums, term life insurance also provides the advantage of renewable and convertible policies.

Permanent life insurance: Permanent life insurance is a product with a term that aligns with the life expectancy of the insured. The requisites for procuring this insurance type are generally more adaptable - acceptance is assured in 2 out of the 3 plans provided by BMO Insurance, while a medical examination is mandatory for the third. However, this guaranteed acceptance and the likelihood of premium stability come with a trade-off - notably higher premiums compared to term insurance. Additionally, these policies are typically non-cancellable or convertible (though not substantially so, in any case).

For further details on the range of products and services offered by BMO Insurance, please visit https://www.bmo.com/insurance.

BMO Insurance

BMO Insurance

Safeguard your financial stability with life, critical illness, and travel insurance, ensuring your family receives cost-effective, tax-free advantages.

Year of foundation

1817

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