Term Life Insurance policy provides the insured with coverage for a fixed period. This insurance coverage is one of the most cost-effective options out there.
Term Life Insurance policy provides the insured with coverage for a fixed period. This insurance coverage is one of the most cost-effective options out there. Your premiums are only covered for the term you choose; hence they are lower initially. If you are expanding your family, or just took on a mortgage, Term Life Insurance is a good option.
Choose from two levels of coverage
Enhanced Plan
Basic Plan
You will receive a cash payment on diagnosis of covered illnessif you survive for 30 days
$12,000
$6,000
You will receive a cash payment on diagnosis of covered illness if you survive for 30 days
$12,000
($1000/month for 12 months or until death, if earlier) $12,000 ($1000/month for 12 months or until death, whichever is earlier)
$6,000
($500/month for 12 months or until death, if earlier) $6,000 ($500/month for 12 months or until death, whichever is earlier)
You will receive cash for each day of hospitalization within two years of diagnosis
$200 a day for up to 100 days
Up to $20,000$200 a day for up to 100 days Up to $20,000
$100 a day for up to 100 days
Up to $10,000$100 a day for up to 100 days Up to $10,000
You will receive cash payment for surgery related to diagnosis within two years of diagnosis
$6,000
$3,000
Total cash benefits:
Up to $50,000
Up to $25,000
Call 1 844-542-4678 to speak to our advisors.
We cannot control our destiny or choose what happens to us in life, but what we can surely do is be prepared for whatever life throws our way. And that is where a life insurance policy comes into the picture. Below was a survey carried out to understand how many Canadians are aware of the different types of life insurance policies.
With BMO Insurance, you can get Critical Illness coverage as a independent plan or you can club optional riders on our Term, Traditional Life and Universal Life plans.
Living Benefit 10 and 20 plans
Living Benefit 75 and 100 plans
Covered conditions
Our Critical Illness protection plans cover around 25 medical conditions such asstroke, heart attack, and cancer, as well as serious conditions such as deafness, kidney failure, dementia, deafness, Parkinson’s disease and much more. Through our Early Discovery Benefit, the policy also include coverage of seven extra medical conditions.For furtherdetails, please see our full list of covered conditions
Call 1 844-542-4678 to speak to our advisors.
Term Life Insurance is a simple life insurance policy that helps protect your family financially if they need money to sustain themselves for when you are no more. They can use the money they receive from the insurance plan to:
The term for your coverage amount is fixed, and your premiums will remain the same. At the conclusion of the term, you can decide to renew the coverage by continuing to pay the same premium or you can choose to pay for a different premium. Please note, the Term Life Insurance coverage ends at a certain age.
Choosing Term Life Insurance plans form BMO Insurance, you will get:
Added flexibility
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Call 1 844-542-4678 to speak to our advisors.
If you are aged 60 and below at the time of applying, you have the choice to receive a lump sum amount if you are diagnosed with a critical illness that is covered in the policy. You can choose to spend the amount however you see fit.
Waiver of Premium
At the time of application, if you are 55 or below, you can add this option to your coverage, so you won’t have to pay your premiums while you are completely disabled, provided you have been disabled for at least six consecutive months.
What is not covered in the policy:
Your beneficiary will not receive benefits if:
Critical illness
You will not be entitled to receive payment of benefits for a covered critical illness that results from a condition that proves you received treatment before the policy became effective.
You will not be entitled to receive the benefits of critical illness insurance from:
Waiver of Premium
No premium will be waived from:
The information above-mentioned is just a summary. The actual terms, limitations, and exclusions are describedclearly in the policy.
