Term Life Insurance

A Temporary Protection Designed for your Needs

Life changes could affect your family if you do not make an adequate plan for the future. BMO’s term insurance is the right life insurance plan for you to plan for the future and protect your family. The plan is affordable, flexible, convenient and easy. You can easily get all the help you need on phone from the licensed insurance advisors. BMO’s term insurance offers five terms, allowing you to choose the option that is best for you. You can choose the 10, 15, 20, 25 or 30-year plan and for each of the plans you choose, your premiums are guaranteed to stay the same within the plan duration. Furthermore, the coverage option for this plan is between $100,000 and $5 million. In addition, the coverage amount is paid directly to your beneficiary and it is tax-free.

Features and Benefits

BMO term insurance offers several optional and additional features that allow you to customize your plan to suit your needs. For instance, the plan includes critical illness benefit and waiver of premium. However, you will not be covered if your death results from suicide within two years from the time your policy becomes effective and also your claims will be denied if you provided false information when applying for the plan.

  • The term insurance plan is flexible, convenient, affordable, and an easy term insurance plan.
  • The coverage option for this plan range from $100,000 to $5 million.
  • The terms available in this plan include 10, 15, 20, 25 and 30 years terms and your premiums are guaranteed to remain the same during any of the terms you choose.
  • Your coverage amount is tax-free and it will be paid directly to your beneficiaries.
  • You can convert your coverage to any of the eligible permanent insurance policy offered by BMO before age 70. You don’t even need health questionnaires or medical exam to apply for this plan.
  • You can customize your plan by adding optional extras such as critical illness benefit (if you are under 60 at the time of application) and/or waiver of premium (if you are under 55 at the time of application).
  • You will not be covered if your death results from suicide within two years from the time your policy becomes effective.
  • Your claims will be denied if you provided false information when applying for the plan.

 

Similar BMO Insurance Insurance Products

  • Life

 

Additional resources

Learn more about life insurance from these informative articles to help you decide in choosing the best plan for you.

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