What is Term 100?
Permanent life insurance can be important, whether you're planning your estate or need a source of funds to help your heirs:
Plan with the end in mind
Cover your final expenses and replace your lost future income
Support your philanthropic efforts
Leave a financial gift in your name to your favourite charity
Prepare for the future
Offset the taxes which will become payable on your RRSP when you die footnote 1
Manage your estate and tax strategy
Minimize the impact of taxes on other taxable assets in your estate - such as the capital gains tax on the increase in value of your cottage footnote 1
How does Term 100 work?
Term 100 is a permanent life insurance protection plan with guaranteed level premiums payable until age 100. When you die, the death benefit is paid as a tax-free, lump sum to your beneficiaries and the policy ends. footnote 2
Benefits of Term 100 insurance
Our Term life 100 policies are designed to provide permanent coverage with fixed premiums to help best suit your needs.
Permanent coverage
Lifetime coverage as long as you pay your premiums - Your premiums are fixed and remain level. No further premium required after age 100
- Choose how much coverage you need from $50,000 to $20 million
Flexibility
- Add optional term insurance coverage on the same policy for short term needs
- Add separate coverage on the same policy for other family members
BMO Insurance Health AdvocateTrademark Plan
- You and your family will have access to a comprehensive range of health counselling and personal assistance services - at no extra cost. footnote 3
How to apply for Term 100 insurance
Follow these steps to get permanent Term 100 insurance protection.
Get a quote
Use the Term 100 Get a quote tool and speak to an insurance advisor.
Consult
Work with your insurance advisor to review goals and set your plan.
Apply footnote 4
Complete your application with your advisor to obtain coverage.
Frequently asked questions about Term 100
The cost of a Term 100 plan will depend on your financial goals and life situation. Your financial advisor can work with you to review your situation and develop a plan to meet your specific needs.
If you’re looking for simple and cost-effective lifetime protection that pays out a death benefit for your beneficiaries, Term 100 could be an excellent option.
While our BMO Insurance Whole Life plan offers a cash value that increases over time, our Term 100 plan offers no cash value.
At age 100, the policy is fully paid-up and no further premium payments are required. The protection will remain in effect for the rest of your life.
Insights and tools
Life Insurance Calculator
How much life insurance do you need? Tell us a bit about yourself and we’ll calculate the amount of life insurance you need to help protect your family.
Estate planning with life insurance: how the right policy can help
Estate planning is an emotional task with major financial consequences – it can feel overwhelming at times. On the bright side, you have many helpful tools at your disposal.
Who should own your life insurance?
You’ve decided you need life insurance. Now it gets more technical: who should own the policy? Here are five factors to keep in mind.
Contact us
There are various ways to get in touch. Choose your preferred method.
Call us
Please give us a call Monday – Friday from 9am to 6pm E S T.
Let us contact you
Have a licensed insurance advisor contact you.
Get a quote
Use the Term 100 get a quote tool and speak to an insurance advisor.