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Protecting what is important to you is second nature. Take comfort in knowing that term life insurance can help you provide for those who depend on you financially or leave a monetary gift for someone special to you down the road. EasyTerm offers flexible coverage options.



Choose your EasyTerm Plan

 

Plan Age eligibility Premium guarantee
EasyTerm 10 18 - 75 10 years
EasyTerm 20 18 - 65 20 years
EasyTerm 30 18 - 55 30 years

Benefits

 

  • Term insurance that provides a wide range of coverage options
  • You can have coverage for as long as you continue to pay your premiums
  • Convenient and easy application process
  • Coverage for critical illness and waiver of premium can be added when your EasyTerm policy is issued

 

 

Who qualifies

 

  • Canadian residents ages 18 to 75 for term life and ages 18 to 55 for critical illness and waiver of premium

Key features

 

  • Coverage options between $50,000 and $5 million1
  • Premiums stay the same for the term you choose, 10, 20 or 30 years
  • Automatic guaranteed renewal of your coverage until you're 85, even if your health changes
  • Premiums are based on your age at renewal
  • No medical exam is required to apply if you're between 18 and 65 and want less than $250,000 in coverage – all you need to do is complete a health questionnaire
  • Provides a tax-free cash benefit2 paid to your beneficiary following your death
  • Option to convert to a Term 100 policy before you turn 70 with no medical exam or health questionnaire
  • Coverage up to your 86th birthday as long as you continue to pay your premiums
  • 30-day money-back guarantee

Tools

 

 

 

Online quote

 

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What is your date of birth?

 

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We ask for this information to determine your eligibility for our products and calculate your cost.

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What is your gender?

 

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Have you used any tobacco, nicotine substitutes or marijuana in the past 12 months?

 

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How much coverage do you need?

 

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To determine the right coverage amount, consider both the short- and long-term needs for your dependents or beneficiaries. A good starting point is calculating your total debts plus 5x your annual income.
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How often would you like to pay?

 

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Our easy application process takes as little as 15 minutes to complete over the phone. Call us at 1-855-599-5929, or schedule a time that’s convenient for you.

Schedule a call

Optional extra coverage

 

Critical Illness

 

At the time of application, if you're between 18 and 55, you can choose this additional coverage to receive a lump sum cash benefit to spend as you please if you're diagnosed with a covered critical illness that meets the plan definitions and then survive for at least 30 days.

 

  • Choose from coverage of $25,000, $50,000, $75,000 or $100,000
  • Covered critical illnesses are Heart AttackHeart Attack is defined as a Diagnosis of the death of heart muscle due to obstruction of blood flow that results in the rise and fall of biochemical cardiac markers to levels considered diagnostic of myocardial infarction, with at least one (1) of the following:

    (a) Heart attack symptoms;
    (b) New electrocardiogram (ECG) changes consistent with a heart attack; or
    (c) Development of new Q waves during or immediately following an intra-arterial cardiac procedure including, but not limited to, coronary angiography and coronary angioplasty.

    No Critical Illness Benefit will be payable under this condition for:

    (a) Elevated biochemical cardiac markers as a result of an intra-arterial cardiac procedure including, but not limited to, coronary angiography and coronary angioplasty, in the absence of new Q waves;
    (b) ECG changes suggesting a prior myocardial infarction; or
    (c) ECG changes which do not meet the Heart Attack definition as described above.
    , Life-Threatening CancersCancer (Life-Threatening) is defined as a Diagnosis of a tumour characterized by the uncontrolled growth and spread of malignant cells and the invasion of tissue.

    No Critical Illness Benefit will be payable for this condition for the following:

    (a) Carcinoma in situ;
    (b) Stage 1A malignant melanoma (melanoma less than or equal to 1.0 mm in thickness, not ulcerated and without Clark level IV or level V invasion);
    (c) Any non-melanoma skin cancer that has not metastasized;
    (d) Stage A (T1a or T1b) prostate cancer;
    (e) Diagnosis of any type of cancer made within 90 days of the Policy Effective Date or the date of the latest reinstatement; or
    (f) Any symptoms of medical problems commencing within 90 days of the Policy Effective Date or the date of the latest reinstatement that initiates any investigations that led to a Diagnosis of any type of cancer.
    , Stroke/Cerebral Vascular IncidentStroke (Cerebrovascular Accident) is defined as a Diagnosis of an acute cerebrovascular event caused by intra-cranial thrombosis or haemorrhage, or embolism from an extra-cranial source, with:

    (a) Acute onset of new neurological symptoms;
    (b) new objective neurological deficits on clinical examination, persisting for more than 30 days
    following the date of diagnosis;
    (c) these new symptoms and deficits must be corroborated by diagnostic imaging testing.

    No Critical Illness Benefit will be payable under this condition for:

    (a) Transient Ischaemic Attacks;
    (b) Intracerebral vascular events due to trauma; or
    (c) Lacunar infarcts which do not meet the definition of Stroke as described above
    , Kidney FailureKidney Failure: A Diagnosis of chronic irreversible failure of both kidneys to function, as a result of which regular haemodialysis, peritoneal dialysis or renal transplantation is initiated., Major Organ TransplantMajor Organ Transplant: A Diagnosis of the irreversible failure of the heart, both lungs, liver, both kidneys or bone marrow, and transplantation must be medically necessary. To qualify under Major Organ Transplant, the Insured Person must undergo a transplantation procedure as the recipient of a heart, lung, liver, kidney or bone marrow, and limited to these entities. or Coronary Artery Bypass SurgeryCoronary Artery Bypass Surgery is defined as the undergoing of heart surgery to correct narrowing or blockage of one (1) or more coronary arteries with bypass graft(s), excluding any non-surgical or trans-catheter techniques such as balloon angioplasty or laser relief of an obstruction. The Surgery must be determined to be medically necessary by a Specialist.

Waiver of premium

 

At time of application, if you're between 18 and 55, you can choose additional coverage so that you won't have to pay your premiums while you're Totally DisabledTotally Disabled or Total Disability:

(a) If the Life Insured has a gainful occupation, Total Disability means the Life Insured's incapacity, caused by disease or bodily injury, to perform substantially all of the essential duties of his or her regular occupation or employment;
(b) If the Life Insured is not normally employed, Total Disability means the Life Insured's incapacity, caused by disease or bodily injury to:
(i) Prevent the Life Insured, if normally responsible for the maintenance of a home or care of immediate family members, from performing substantially all of the essential duties of maintaining that home or care for those individuals;
(ii) Prevent the Life Insured from performing substantially all of the essential duties of any occupation or employment for which he or she is reasonably qualified by virtue of education, training or experience; or
(iii) Markedly restrict the ability of the Life Insured to perform any one of the Activities of Daily Living.
, provided you have been Totally Disabled for at least six consecutive months.


What's not covered

 

Your beneficiary will not receive benefits if:

 

  • You provide false, incorrect or incomplete information during the application process.
  • Your death results from suicide within two years from the date that your policy comes into effect. We will refund your premiums in this case.

 

This information is only a summary. Actual terms, exclusions and limitations are explained in the policy. A sample policy document can be viewed here.


Critical illness

 

No benefits will be paid for a covered critical illness that results from a condition that manifested itself or for which you received treatment before the policy became effective.

 

You will also not receive benefits if the critical illness results from:

 

  • Attempted suicide or self-inflicted injuries
  • The commission or attempt to commit a criminal offence
  • The use of drugs or operating a motor vehicle under the influence of alcohol

Waiver of premium

 

No premium will be waived if the total disability results from:

 

  • Attempted suicide or self-inflicted injuries
  • The commission or attempt to commit a criminal offence
  • The use of drugs or operating a motor vehicle under the influence of alcohol

 

This information is only a summary. Actual terms, exclusions and limitations are explained in the policy.


Back to Life Insurance

How to buy

 

Insurance issued by BMO Life Assurance Company

 

  1. 1. If you're 65 and over, you have to apply for at least $250,000 of coverage. Full underwriting applies for coverage over $249,999.
  2. 2. Under current tax legislation. Any interest earned during the claims process may be taxable.