BMO Life Insurance Explained

March 30, 2012 by 4 Comments

BMO Life Insurance

BMO Life Insurance is one of the many banks that are offering Life insurance in Canada. Unlike many of the other banks in Canada that offer life insurance quotes, BMO is different (better). The reason for that is that BMO actually owns a real life insurance company, with a full portfolio of life insurance products, which is very unique when it comes to bank issued life insurance policies.

BMO took over the Canadian division of AIG, last year when AIG got into troube in the US. The Canadian part of AIG was actually very healthy financially and that's why the American International Group in the States had to sell it. So when BMO decided to buy it in April of 2009, it was a great move for all parties concerned.

The Bank of Montreal was able to get a good life insurance company and be a player in the life insurance market in Canada, and the consumers in Canada now have access to the great life insurance products that AIG used to offer Canadians. BMO Life offers 10 year term insurance, 20 year term insurance and even 30 year term insurance. They also offer competitive Universal Life plans, and Whole life plans. BMO is also very competitive in the Critical Illness Market.

Here at the Quote Shop we believe in transparency and freedom of information and our comparison calculator above will do the shopping and comparing for you.

So what I would encourage you to do is use our life insurance shopping calculator above and see for yourself if BMO life is the right company for you.

Filed Under: Insurance Companies, sidebar, tips
About Ned Vedo, Independent Insurance Broker

 
Ned has been a life insurance broker and financial advisor for over 20 years. He is the owner of www.LifeInsuranceQuoteShop.com, an online insurance quotation website. Ned believes that before you even talk to an agent, you should do your due diligence and research on the available insurance companies and their prices. The "best rate calculator" will allow you to do that, and instantly display all compaines and priceing, so you can make a better decision.

Comments

  1. Jim Cunliffe says:
    June 14, 2012 at 3:16 pm

    All correspondence we by E-Mail

    Please give me quotes on Whole life and Unversal Life.

    As I will be turning 65 next month, I would like to know whether you will insure and if so up what age

    Are the premium payments guarateed for life of insured or do they escalate as you grow older.

    I have one chonic disease diabetes that is well controlled by Metformin diet and excercise.

    I stand 5’10″ tall and weigh 175lbs.

    I would ask for a prompt reply

    Kind Regard

    Reply
    • lifeinsurance says:
      July 17, 2012 at 1:23 pm

      Sorry, Jim, I never noticed your question until today, are you still interested in this quote?

      Reply
  2. RW says:
    January 4, 2013 at 9:15 am

    Got a quote of $27/mo for a 30 yr term for my daughter. 25yrs old.
    After receiving report from her doctor, they assigned the lowest rating … basicaly, rating her as a 50 yr old at $58/mo. Am I obliged to accept this policy? They simply issued the policy without explaining why the low rating. Also, if I don’t accept this policy, will this non-accepting policy be on her record if I obtain another quote from anothr insurance company?

    Thanks,

    Reply
    • Ned Vedo, Independent Insurance Broker says:
      January 4, 2013 at 11:09 am

      Hi RW,

      you do not have to accept it, and it will not show negatively with any other insurance company.
      Do you know the reason why they rated your daughter that high?
      Is it a medical reason?

      Thanks,

      Ned

      Reply

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