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Guaranteed-Life Plus

It’s not too late to get life insurance. If you’re between 40 and 75 years old and a resident of Canada, Guaranteed-Life Plus guarantees to insure you no matter what your state of health is today. And your coverage is guaranteed to never decrease even if your health changes after you enrol.* In case of accidental death, your beneficiary receives five times your Basic Benefit. Guaranteed-Life Plus is a simple and cost-effective way to help protect your family from financial stress and ensure they have the peace of mind they deserve.

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Protect the people you love

With Guaranteed-Life Plus, you get Basic and Accidental coverage:

  • The Basic Benefit provides tax-free cash paid directly to your beneficiary following your death from any cause. During the first two years, this benefit is equal to the monthly payments you’ve made. After two years, the full Basic Benefit is in force for life and, as long as you continue to pay your premiums, cannot be cancelled or reduced for any reason, even if you develop a life-threatening illness.
  • The Accident Benefit will pay your beneficiary five times your Basic coverage if you die as a result of a covered accident. Death must occur within 90 days of the accident. Coverage for the full Accident Benefit starts as soon as your policy becomes effective and continues until you turn 85. That’s cash that can go a long way to helping your family following a sudden and unexpected death.

Get more than you expect with Guaranteed-Life Plus

  • Immediate coverage — you’re protected from the day we receive your completed application, even before you pay your first premium.
  • Fast payment — we will pay tax-free cash benefits to your beneficiaries within two business days from the time we receive the necessary documents. And they can use the money however they choose, from paying for funeral and other final expenses and medical bills to helping cover mortgage costs.
  • Coverage for life — as long as you pay your premiums, you’re covered for life, even if your health status changes.
  • 30-day free look — cancel any time within the first 30 days with no further obligation.

Guaranteed acceptance

  • If you’re a Canadian resident between 40 and 75 years old, you’re guaranteed acceptance for Guaranteed-Life Plus. You can’t be turned down for any reason.
  • No medical exam — you don’t have to see a doctor or answer any health questions to enrol.
  • This coverage is for individuals only. One policy per person.

Immediate, affordable insurance coverage

Guaranteed-Life Plus is a simple way to get the insurance you need to protect your loved ones in the event of your death from any cause.

You choose the premium level that is best for your needs and budget — there are up to eight monthly premium options to choose from — $20, $30, $45, $60, $75, $90, $100 and $120. The coverage amount will be based on the premium level you choose as well as your gender, age and smoking status at the time you enrol. Your premiums will never increase and your coverage will never decrease as long as you continue to pay your premiums.* Guaranteed.

If you die, this policy will pay the Basic Benefit that you have selected to your beneficiaries. During the first two years, this benefit is equal to the premiums you have paid.

If you suffer an injury in a covered accident that leads to your death, your beneficiary will receive five times your Basic Benefit! The Accident Benefit covers you until you turn 85.

All benefits are payable to the beneficiary of your choice. We'll pay the full benefits of your policy to your beneficiary within 2 business days of receiving the required documents. That’s a whole lot of peace of mind.

What’s not covered

All insurance products have some limitations and exclusions you should understand in advance. In this case, you will not receive benefits if:

  • your death results from suicide within two years after your policy is issued, although we will refund your premiums
  • your policy is void due to material misrepresentation, omission or fraud, including misrepresentation, concealment or fraudulent misrepresentation of smoking status

Also, the Accident Benefit isn’t payable if your death results directly or indirectly from an injury you suffer:

  • under the influence of drugs or alcohol
  • during war or civil disorder
  • while committing a criminal act
  • as a result of suicide

Keep in mind that this information is only a summary. Actual terms, exclusions and limitations are explained in the policy that will be issued to you. You can always sign up for a 30-day free look to see full details in the terms and conditions of your Guaranteed-Life Plus insurance policy. Please review carefully upon receipt.

Up to eight payment options to suit your needs

With premiums that start as low as $20 a month, Guaranteed-Life Plus offers an affordable way to protect your family, no matter what your budget. Your monthly payments will also never increase no matter how long you live or even if your health changes. Just choose the monthly premium that works best for you: $20, $30, $45, $60, $75, $90, $100 or $120.

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*Please note that the Accidental Death Benefit coverage ends at age 85.
All insurance provided through BMO Life Assurance Company.