Preferred Term
Term life insurance that converts to permanent coverage
- Low cost protection for a specified number of years
- Guaranteed rates
- You choose the duration and the coverage that is right for you
- Can be used by your loved ones as an income replacement solution or to liquidate debts
- Provides a tax-free lump sum payment to your beneficiaries
- Includes the option of converting to permanent coverage
Choose the Amount
- Get $100,000 to $10 million in coverage.
Choose Your Term – 10, 20 or 30 Years
Get coverage with premiums guaranteed not to increase for 10 or 20 years, renewable up to age 85 – or choose a 30-year term, renewable to age 100
Low Cost Protection
Example of monthly cost for Preferred Term Insurance
Term Coverage: $250,000 1 Monthly Cost
| Preferred Term 10 | Age 35 | Age 40 | Age 45 | Age 50 | Age 55 |
|---|---|---|---|---|---|
| Male Non-Smoker(Standard) | $17.10 | $21.15 | $29.25 | $42.75 | $71.55 |
| Male Non-Smoker(Preferred Plus) | $12.38 | $15.98 | $23.18 | $32.85 | $53.55 |
| Female Non-Smoker(Standard) | $15.08 | $17.78 | $22.73 | $32.40 | $52.20 |
| Female Non-Smoker(Preferred Plus) | $10.35 | $13.28 | $18.00 | $24.08 | $37.35 |
Depending on your health assessment, you may qualify for a "preferred" lower cost. Other terms available
To get a personalized quote, contact an Independent Insurance Adviser
Convert to Permanent Life Insurance
Turn your term insurance into permanent insurance any time before age 70
Customize Your Plan
Add extra insurance protection to your life insurance plan:
- Accidental Death Rider: covers you in case of an accident
- Waiver of Premium: covers your premium payments if you become disabled
- Children's Term Insurance Benefit: provides term life insurance for your children
- Living Benefit Rider: provides a lump-sum payment to you if you are diagnosed with a critical illness
- Business Guaranteed Insurability Option: ideal for business owners who want to lock in their ability to purchase additional life insurance protection in the future
Guaranteed Monthly Premiums
Your monthly premiums will never increase during the term you choose
10-day Money Back Guarantee
Cancel your policy within 10 days for a full refund
Need an Independent Insurance Advisor?
Contact the BMO Insurance office in your area:
Ontario: 1-800-608-7303, insurance.advisorsalesontario@bmo.com
Quebec & Atlantic: 1-866-217-0514, insurance.advisorsalesquebecatlantic@bmo.com
Western Canada: 1-877-877-1272, insurance.advisorsaleswest@bmo.com
Full details terms and conditions are available on request
Insurance benefits are tax free payments under current legislation
