Change Language | Region*
American flag

*Products and services featured on our websites are only available to residents of the selected country.

Set your homepage
    Set your homepage

HomePersonal BankingWealth ManagementSmall BusinessCommercialCorporate & InstitutionalAbout BMO

Living Benefit Plans

Critical illness insurance with flexibility

Finding out that you or a loved one has a critical illness can be devastating – emotionally and financially. The Living Benefit Plans help to take care of your family financially so you can focus on recovery. You choose the critical illness protection you need – including the length of time you want coverage and the amount of tax-free money you want to receive if you’re ever diagnosed with a wide range of illnesses.

Money for Any Purpose

  • Cover drug and medical expenses not covered by your health plan
  • Find the best treatments available
  • Pay off your mortgage
  • Take a vacation
  • Reduce your working hours to help you recover
  • The choice is yours

Choose the Amount

Get $25,000 to $2 million in coverage

Covers 26 Illnesses

  • Alzheimer’s Disease
  • Aortic Surgery
  • Aplastic Anaemia
  • Bacterial Meningitis
  • Benign Brain Tumour
  • Blindness
  • Life-threatening Cancer
  • Coma
  • Coronary Artery Bypass Surgery
  • Deafness
  • Early Discovery Benefit
  • Heart Attack
  • Heart Valve Replacement
  • Kidney Failure
  • Loss of Independent Existence
  • Loss of Limbs
  • Loss of Speech
  • Major Organ Transplant
  • Major Organ Failure on Waiting List
  • Motor Neuron Disease
  • Multiple Sclerosis
  • Occupational HIV Infection
  • Paralysis
  • Parkinson's Disease
  • Severe Burns
  • Stroke

Early Discovery Benefit

Advances 10% (up to $25,000) of your Critical Illness Benefit for the early diagnosis of Early Prostate Cancer, Ductal Breast Cancer, Superficial Malignant Melanoma or Coronary Angioplasty

Choose Your Plan

  • Living Benefit 10 and 20:
    • level coverage to age 75
    • payments guaranteed not to increase for 10 or 20 years
    • convert to a term to age 75/age 100 plan any time before age 60
  • Living Benefit 75:
    • level coverage to age 75
    • payments guaranteed not to increase
  • Living Benefit 100:
    • level coverage to age 100
    • payments guaranteed not to increase
    • option to pay for coverage to age 100 in 15 years

Example of monthly cost for Critical Illness Insurance

Critical Illness (Living Benefit 10): $100,0001 Monthly Cost

Living Benefit 10 Age 35 Age 40 Age 45 Age 50 Age 55
Male Non-Smoker $33.30 $44.01 $63.90 $97.02 $159.93
Female Non-Smoker $35.19 $47.25 $63.36 $85.86 $124.92
1 Rates effective September 2010. Subject to change without notice.
For full details including cash values and other plan types, contact an independent insurance advisor.

To get a personalized quote, contact an Independent Insurance Advisor

Get Your Premiums Back

Depending on the plan you choose, you can get back all or some of your premiums on death or when you surrender your policy without making a claim

Get a Second Opinion

  • Access Best Doctors®, a program that connects you and your doctor to world renowned specialists to confirm your diagnosis and treatment plan
  • Best Doctors can help you if you have any type of cancer, coronary artery bypass surgery, heart attack, kidney failure, major organ transplant, paralysis, stroke and more
  • Best Doctors can also help immediate and extended family members (limited to one Extended Family Benefit every three years)

Helping Hands – Your Own Personal Assistance Program

  • Confidential, professional guidance and advice
  • Around-the-clock medical consultation
  • Home care convalescence referrals
  • Child care and elder care service referrals
  • Online health and wellness resources
  • Nutrition and smoking cessation services
  • Access to services for yourself and your immediate family

Need an Independent Insurance Advisor?

Contact the BMO Insurance office in your area:

Ontario: 1-800-608-7303, insurance.advisorsalesontario@bmo.com
Quebec & Atlantic Canada: 1-866-217-0514, insurance.advisorsalesquebecatlantic@bmo.com
Western Canada: 1-877-877-1272, insurance.advisorsaleswest@bmo.com

Insurer: BMO Life Assurance Company
Full details terms and conditions are available on request
Insurance benefits are tax free payments under current legislation