How it works

Plan Overview

BMO Insurance Whole Life

Discover how BMO Insurance Whole Life works by watching this short video.

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It’s simple and straightforward

BMO Insurance Whole Life offers permanent life insurance protection. It can be ideal for individuals who want guaranteed level premiums, a guaranteed death benefit and a guaranteed cash value that increases over time. Premiums are payable for 10 years, 20 years or until age 100 of the life insured.

Each year, you are eligible to receive a Performance Bonus that is used to automatically add paid-up insurance (or Paid-Up Additions) to your policy. This, in turn, increases the death benefit and cash value.

Flexibility – just in case

The following options are available, just in case your circumstances change:

  • Additional Payment Option maximizes the tax-deferred growth of the cash value and can also help pay-up the policy sooner.
  • Premium Switch Option allows you to lower your premiums and extend how long you pay premiums, without affecting the amount of your basic coverage.
  • Reduced Paid-Up Insurance Option allows you to stop paying premiums by having the death benefit reduced.
  • Policy Loans offer you the flexibility of using the policy’s cash value to pay premiums (an Automatic Premium Loan) or access funds for lifestyle purposes.
  • Premium Offset allows you to stop paying premiums and have the amounts deducted from the cash value of your policy.

Guarantees for more predictability

Having strong guarantees in your life insurance policy can provide you with more assured outcomes. BMO Insurance Whole Life policies includes the following:

  • Three guaranteed premium options: 10 Pay, 20 Pay and Pay to Age 100.
  • Guaranteed cash value that increases over time.
  • Guaranteed death benefit equal to the initial amount of your coverage.
  • Performance Bonus that automatically adds paid-up insurance to the policy. The Performance Bonus Rate used to calculate this bonus is guaranteed to never be negative.

BMO Insurance Health AdvocateTM Plan

With BMO Insurance Whole Life, you also have access to the BMO Insurance Health Advocate Plan, an industry leading comprehensive assistance service at no additional cost1.

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Plan Options

BMO Insurance Whole Life has two plans:

  • BMO Insurance Whole Life Estate Protector offers long-term cash values and death benefit growth, which can be a great fit for estate planning scenarios.
  • BMO Insurance Whole Life Accelerator offers a higher cash value in the early years, which can be ideal if you need more liquidity from your life insurance policy.
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1Beyond premiums for the basic coverage. Ask your insurance advisor for complete details.