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Our products

Explore our comprehensive suite of insurance products including a full range of life and critical illness insurance policies, GIFs (segregated funds), and income annuities – all backed by the integrity, strength and brand recognition of BMO Financial Group.

We’re committed to building our relationship with independent advisors and MGAs like you, which is why we’re proud to offer easy-to-use planning tools, the convenience of SmartApp, and advisor support materials.

Universal life insurance

Help your clients protect their family (and business) from financial risk and benefit from tax-deferred accumulation on their net deposits. Universal life insurance is a great solution for clients who want to:

  • Minimize the impact of taxes on their net estate value
  • Maximize the wealth they leave to the next generation
  • Access a tax efficient source of cash
  • Cover or offset the cost of their final expenses

Universal life insurance plans

If your clients are looking for a flexible universal life plan with solid guarantees, competitive rates and the widest selection of investment options of any universal life plan in Canada, take a look at the Life Dimensions family of plans.

  • Life Dimensions

    For clients looking for permanent coverage and access to investment options with tax deferred accumulation. This plan also includes guaranteed bonuses to help boost growth.

  • Life Dimensions (Low Fees)

    For fee-sensitive clients looking for permanent insurance coverage, access to investment options with tax-deferred accumulation and lower fees. This plan also includes the InvestorMaximizer to help maximize tax deferred growth.

  • Wealth Dimensions

    For high net worth clients and business owners who need permanent insurance, investment options that optimize tax-deferred accumulation and lower fees. This plan also includes the InvestorMaximizer to help maximize tax deferred growth.*

Our universal life plans

Life Dimensions, Life Dimensions (Low Fees) and Wealth Dimensions offer:

Coverage for ages 0-80 from $50,000 to $20,000,000

YRT 100, YRT 85/20 and Level Cost of Insurance options

A wide selection of optional riders and benefits

BMO Insurance Health Advocate™ Plan

For more details check out the Universal Life Portfolio at a Glance (362E).

Investment options

We offer over 200 investment options so your client can choose an investment strategy that fits their goals and risk tolerance. Investment options include:

Over 200 different indexed interest accounts

Guaranteed Market Indexed Accounts (GMIA)

5 and 10 year Guaranteed Interest Accounts (GIA)

Daily Interest Account

Guaranteed Market Indexed Accounts

Available exclusively from BMO Insurance, Guaranteed Market Indexed Accounts (GMIA) offer your client exposure to equity market performance with security of a GIC. Our GMIAs are guaranteed never to have a negative net rate of return.

Your client can choose between two GMIA options.

  • Canadian Equity GMIA: Linked to the performance of the S&P/TSX 60
  • American Equity GMIA: Linked to the performance of the S&P 500

BMO Insurance Health Advocate™ Plan

With universal life insurance your clients will also have access to the BMO Insurance Health Advocate™ Plan, an industry leading comprehensive assistance service – at no additional cost.** For more information check out the BMO Insurance Health Advocate™ Plan - Advisor Guide (726E).

BMO InvestmentPro

Help your client understand their universal life insurance investment options with BMO InvestmentPro. Using BMO InvestmentPro you can compare, search, save, analyze, and print up-to-date performance reports and data on hundreds of investment options.

Investor Profile Questionnaire

Help your clients select the right investment options with the Investor Profile Questionnaire (358E).

Tools and materials

SmartApp

Submit applications online or prepare quotes with SmartApp.

SmartApp

The Wave illustration system

Download The Wave illustration system to prepare quotes and access resources.

Download the wave

* Note that this plan requires at least a $25,000 first year deposit.

** beyond the premiums for the basic coverage.

Term life insurance

Our term life insurance can be a great option for individuals, couples or business owners who:

  • Have debt, a mortgage or other financial obligations
  • Want to provide for their beneficiaries and cover final expenses in case of unexpected death
  • Own a business and want to protect their company from the loss of a key employee
Family protected by term life insurance from BMO Insurance
Family protected by term life insurance from BMO Insurance

Flexible term life plans

All term life plans can be converted to a permanent plan at any time before age 70, and Term 10 plans can be exchanged to a Term 15, 20, 25, or 30 plan*. Clients can also choose to have their coverage issued on Single Life or on a Joint-First-to-Die basis.

Term 10, 15 and 20 plans

  • Renewable and convertible
  • Premiums are guaranteed

Term 25 and 30 plans

  • Convertible
  • Premiums are guaranteed

Riders available on all plans

For more comprehensive coverage, rider options are available for all term insurance plans, including:

  • Critical Illness
  • Accidental Death
  • Children’s Term Insurance Benefit
  • Waiver of Premium
  • Business Guaranteed Insurability Option (BGIO)

insureNOW and insureNOW Plus

insureNOW and insureNOW Plus provide simple, straightforward coverage to the age of 65 without a medical exam.

  • Optional Extended Life Benefit equal to 25% of sum insured at age 65
  • insureNow Plus includes critical illness and accidental disability insurance

Tools and materials

SmartApp

Submit applications online or prepare quotes with SmartApp.

SmartApp

The Wave illustration system

Download The Wave illustration system to prepare quotes and access resources.

Download the wave

* Subject to certain conditions.

Non-participating whole life insurance

Help your client manage their financial risk with non-participating whole life insurance from BMO Insurance. Non-participating whole life insurance offers financial protection with guaranteed level premiums making it a great option for clients who:

  • Are looking to maximize the value of their estate
  • Would like a tax efficient way to protect the value of their business
  • Need a cost effective way to replace their lost income or pay off debt in case of their death

BMO Insurance Whole Life Plan

A non-participating whole life insurance plan with an increasing death benefit, guaranteed cash values and level premiums payable for 10 or 20 years or to age 100.

Performance Bonus and Paid-Up Additions

BMO Insurance Whole Life Plan offers an annual Performance Bonus which is automatically used to purchase additional “paid-up” coverage, increasing the death benefit and cash value of the policy at no additional cost.*

Check out the most recent Performance Bonus Rate fact sheet for more details.

2018 Performance Bonus Rate (797E)

Flexible options

The BMO Insurance Whole Life Plan gives your clients the flexibility to choose different options in case their plans change.

The Premium Switch Option

allows your client to change their premium payment period in order to manage the annual cost of their policy without affecting their basic coverage.

Reduced Paid-Up Insurance

allows your clients to reduce their basic coverage to an amount that requires no further premiums.

Policy loans

allow your client to borrow against the cash value of their policy.

Term 100

Your client gets guaranteed premiums payable until age 100 (with coverage continuing for life), plus BMO Insurance Health Advocate™ Plan and the option of adding riders like term life, children’s term, critical illness and more.

BMO Insurance Health Advocate™ Plan

With non-participating whole life insurance your clients will also have access to the BMO Insurance Health Advocate™ Plan, an industry leading, comprehensive assistance services– at no additional cost.*

Tools and materials

SmartApp

Submit applications online or prepare quotes with SmartApp.

SmartApp

The Wave illustration system

Download The Wave illustration system to prepare quotes and access resources.

Download the wave

* beyond the premiums for the basic coverage

Critical illness insurance

Although no one thinks it could happen to them, a critical illness can strike anyone at any time and could affect your client’s ability to:

  • Support their family
  • Meet their financial obligations
  • Protect their assets and maintain their lifestyle
  • Run their business

Living Benefit plans

All our critical illness insurance plans offer comprehensive coverage and unique value-added services.

Living Benefit 10 and 20 plans:

Living Benefit 75 and 100 plans:

Return of Premium benefits

All BMO Insurance Living Benefit plans offer a return of premium option, providing your client with an extra level of financial security.

Living Benifit 75
Living Benifit 100
15-Pay Living Benifit 100

Your client can reclaim 100% of their eligible premium after:

15

15 years (ROPS 15)

~OR~

65

Age 65 (ROPS 65)

~OR~

75

Age 75 (ROPX)

15

15 years (ROPS 15)

~OR~

20

20 years (ROPS 20)

15

15 years (ROPS 15)

Covered conditions

Our critical illness plans cover 25 life-threatening medical conditions as well as seven additional medical conditions through our Early Discovery benefit.

BMO Insurance Health Advocate™ Plan

With critical illness policies from BMO Insurance, your clients and their families will have access to BMO Insurance’s innovative and comprehensive assistance services– at no additional cost.

Critical illness by the numbers

Critical illnesses are more common than we would like to believe. In fact:

Nearly 1 in 2

Nearly 1 in 2 Canadians will develop cancer in their lifetime, and about 1 in 4 Canadians will likely die of cancer.1

1.6 million

1.6 million Canadians and their families are now living with the effects of heart disease and stroke.2

62,000 strokes

More than 62,000 strokes occur in Canada each year and over 30,200 of these happen to women.2

Every 17 minutes

A woman in Canada has a stroke every 17 minutes.3

Tools and materials

SmartApp

Submit applications online or prepare quotes with SmartApp.

SmartApp

The Wave illustration system

Download The Wave illustration system to prepare quotes and access resources.

Download The Wave

1 Canadian Cancer Statistics, Canadian Cancer Society (2018)

2 Heart and Stroke Foundation of Canada (2018)

3 2018 Stroke Report, Heart and Stroke Foundation of Canada (2018)

* ROPS will return the sum of the eligible premiums** paid on the surrendered Critical Illness Benefit amount from the Policy Effective Date to the Option Election Date.

** Eligible premium includes the policy’s annual premium, modal loading, policy fee, medical extras plus any ROPS/ROPX or ROPD rider premiums if elected. Refer to the policy contract for details

Income annuities

Our income annuities are a worry-free option for older clients who want:

  • Guaranteed income for the rest of their lives
  • A low-risk income alternative to traditional investments
  • Greater income than GICs provide
  • Registered and non-registered funding options
Elderly couple smiling about their income annuities from BMO Insurance
Elderly couple smiling about their income annuities from BMO Insurance

Types of income annuities

  • Life annuities
    • Provide income for your client’s entire life
    • Offer an optional “guarantee period” so if your client dies during this period their remaining guaranteed payments go to their beneficiary
    • Can be funded from non-registered and registered funds including RRSPs, LIRAs, RRIFs, LIFs, RPPs and DPSPs
  • Joint-life annuities
    • Provide income for your clients’ entire lives
    • Offer an optional “guarantee period” so if your clients dies during this period their remaining guaranteed payments go to their beneficiary
    • Can be funded from non-registered and registered funds including RRSPs, LIRAs, RRIFs, LIFs, RPPs and DPSPs
  • Term certain annuities
    • Provide a guaranteed number of income payments
    • Pay out to your client’s beneficiary if they die before the term ends
    • Can be funded from non-registered and registered funds including RRSPs and RRIFs

Why choose an income annuity from us?

Rate guarantees with a 10 day guarantee for non-registered funds and 45 days for registered funds

Easy and fast quotes using The Wave illustration system

Annuity Customer Service with dedicated staff

We accept CANNEX quotes with your client’s annuity application

Tools and materials

Guaranteed Investment Funds

BMO Guaranteed Investment Funds (GIFs) offer a range of guarantee options designed to fit any investor profile, including:

  • ‘Pre-retirees’ looking for higher potential returns while protecting their wealth.
  • Professionals and business owners in need of creditor protection and lower fees.
  • Retirees searching for higher potential returns without sacrificing capital preservation.
  • Older retirees focused on estate planning looking to preserve their wealth for the next generation.

BMO GIF Guarantee Options

Like mutual funds BMO GIFs offer a range of investment options, but with the added security of maturity and death benefit guarantees – plus resets to lock in market gains.

Popular no-load sales charge option

Wealth transfer maximisation by avoiding probate costs and delays

The ability to preserve capital by locking in market gains through resets

Creditor protection to insulate investment from business liability§

  • GIF 75/75

    The greatest flexibility and choice for your client with the lowest fees.

    • 75% maturity guarantee on deposits and 75% death guarantee
    • ETF portfolios managed by BMO Asset Management ranging from 100% equity to 100% fixed income
  • GIF 75/100

    Flexibility and lower fees with greater estate protection.

    • 75% maturity guarantee on deposits and 100% death guarantee** with automatic triennial resets††
    • ETF Portfolios managed by BMO Asset Management ranging from 100% equity to 100% fixed income
  • GIF 100/100

    The highest level of guarantees.

    • 100% maturity guarantee* and 100% death guarantee** on deposits
    • Automatic monthly maturity guarantee resets†† and optional triennial death guarantee resets
    • Maturity date of 15-25 years
    • Balanced funds for reduced volatility, designed by BMO Asset Management
    • Prestige class pricing±

For more information about GIF 75/75, GIF 75/100 and GIF 100/100, check out the advisor and client guides.

Investment management and fund profiles

  • GIF 75/75 and GIF 75/100

    GIF 75/75 and GIF 75/100 provide clients with greater flexibility. Clients can choose from ETF Portfolios ranging from 100% equity to 100% fixed income (and many options in between).

  • GIF 100/100

    GIF 100/100 guarantee option offers four distinctive BMO Guaranteed Investment Funds with exposure to North American and global equity and fixed income exchange traded funds (ETFs).

  • BMO Global Asset Management

    Our portfolio manager, BMO Asset Management Inc., is one of the world’s largest asset managers with $328billion in combined assets under management±±.

BMO Insurance GIF guarantees and resets

Guarantees and resets are the core benefits of BMO Insurance GIFs. They help protect your clients’ deposits and lock-in market gains.

Maturity benefit

Your client receives the greater of the Maturity Amount or the market value of the contract.

Death benefit

Your client receives the greater of the death guarantee amount or the market value of the contract.

Maturity Guarantee Amount resets (GIF 100/100)

If the market value of your client’s policy is higher than the Maturity Guarantee Amount, it will be ‘reset’ automatically every month (up to 10 years before the maturity date) to match the market value – locking in market gains.

Death guarantee amount resets (GIF 75/100 and GIF 100/100††)

If the market value of your client’s policy is higher than the death guarantee amount, the death guarantee will be ‘reset’ to match the market value – locking in market gains. Death guarantee amount resets occur automatically every 3rd policy anniversary until (and including) the last policy anniversary before your client’s 80th birthday.

Tools and materials

±± As of January 2018
§ Creditor Protection rules depend on legislation and vary by province. It cannot be guaranteed. Your clients should consult a legal advisor for their specific situation.
★ Probate fees may not apply in Quebec.
‡ Automatic resets of the Death Guarantee Amount occur every 3rd policy anniversary up to and including the last policy anniversary before the Annuitant’s 80th birthday. Optional benefit. Additional fee applies.
* Deposits made at least 15 years to the Maturity Date are guaranteed at 100%. Deposits made within 15 years to the Maturity Date are guaranteed at 75%.
** 100% on deposits made before the Annuitant is age 80 and 75% on deposits made on or after age 80.
†† Resets occur automatically on the last day of each month up to 10 years before the Maturity Date.
± Clients qualify for Prestige Class if they hold $250,000 or more in BMO GIF contracts issued in their name.