BMO Insurance

Why choose life insurance with BMO Insurance?

About BMO Insurance

As a subsidiary of BMO Financial Group, BMO Insurance has more than 200 years of heritage and experience. This financial strength and established reputation allows the company to offer insurance products with comprehensive benefits, flexible coverage options and highly competitive pricing.

BMO Insurance has earned the trust of its customers through its integrity, commitment to innovation and diversity, and dedication to delivering an exceptional customer experience. BMO Insurance has earned the trust of our customers through integrity, a commitment to innovation and diversity, and a dedication to delivering an exceptional customer experience. BMO Insurance offers a wealth of expertise in the design and underwriting of insurance products and an experienced support team to answer all your questions. BMO Insurance customers are guaranteed to receive the assistance they need, whether it's assessing their financial needs or completing the claims process in the event of a major setback. BMO Insurance is committed to simplifying the insurance underwriting process and positioning itself as a trusted partner to its customers.

Diversity and Inclusion: BMO Insurance's Values

The commitment to diversity and inclusion is an integral part of BMO Insurance's values. BMO Insurance takes great pride in providing its employees with an inclusive workplace where everyone can grow. Promoting workforce diversity and inclusion in the workplace allows BMO Insurance to distinguish itself by positioning itself as an employer of choice.

BMO Insurance products and services

BMO Insurance offers many financial products and services that naturally include the most common types of insurance. Here's an overview of what this insurer has to offer.

Accident and Critical Illness Insurance

Life is full of unexpected events and an accident or critical illness can put you and your family in a difficult financial position. BMO Insurance offers 3 types of plans to deal with these types of eventualities:

  • Accidental Death Insurance is designed to provide financial assistance to policy beneficiaries in the event of the sudden death of the policyholder/insured. The premiums associated with this policy are very affordable - less than $1 per day - and provide coverage ranging from $50,000 to $250,000. Interestingly, the amount of capital paid on a claim doubles if the insured dies in a public transportation vehicle. The underwriting process is quick and simple - no medical examination is required - and coverage is valid worldwide until the policyholder's 76th birthday, regardless of his or her state of health.
  • The Convalescence Assistance Plus Plan is designed to provide monetary support to individuals and families whose financial stability is compromised by the convalescence of one of their members. Subscribers to this product can choose between two affordable plans with benefits of up to $50,000 that provide access to the best medical care available and allow them to get back on their feet without having to worry about their finances.
  • Critical Illness Insurance has the same objectives as the other 2 products offered by BMO Insurance in this category and offers a payment of $25,000 to $2,000,000 immediately following a diagnosis of a critical illness such as cancer, heart attack or stroke.

Travel Insurance

BMO Insurance offers 2 travel insurance plans: Annual Plans and Single Trip Plans. Annual plans are relevant solutions for people who travel more than once a year on a regular basis (usually for work). For an annual premium of approximately $50, the basic plan provides coverage for emergency medical care outside the country (or your province of residence) and a travel assistance service available 24/7 regardless of the number of trips you make in a year. The Privilege Package includes the same coverage but also includes trip cancellation/interruption/delay insurance, flight delay insurance and insurance for your baggage and personal belongings.

Single Trip Plans are much more specific solutions that require a separate quote each time.The 3 options offered cover the same scenarios as the annual plans but to varying degrees.

Life Insurance

Term Life Insurance: At BMO Insurance, as with other insurers, term life insurance is used to provide the policyholder with financial protection for a limited period of time - 10, 15, 20, 25 or 30 years in this case - at a more competitive price than permanent life insurance. BMO Insurance's coverage ranges from $100,000 to $5,000,000 and is available for people between the ages of 18 and 75. A medical exam is required to obtain a quote. In addition to more affordable premiums, term life insurance also has the added benefit of offering renewable and convertible policies. Permanent life insurance: Permanent life insurance is a product whose term is the end of the life of the insured.

Permanent life insurance: Permanent life insurance is a product whose term is the end of the life of the insured. The conditions for purchasing this type of insurance are generally more flexible - acceptance is guaranteed in 2 of the 3 formulas offered by BMO Insurance, a medical examination is required for the third. However, this guaranteed acceptance and the near certainty that premiums will never increase comes at a price - significantly higher premiums than for term insurance. In addition, these policies are generally non-cancellable or convertible (not substantially, in any event).

To learn more about the products and services offered by BMO Insurance, visit https://www.bmo.com/insurance.

BMO Insurance

BMO Insurance

Protect your financial security with life, critical illness and travel insurance that provides your family with affordable, tax-free benefits.
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