When it comes to life and health insurance, BMO Insurance has established itself as an expert. As a member of the BMO Financial Group, the company has roots that go back to 1817, and has developed considerable financial strength and underwriting experience in its long history.
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BMO Financial
| Founded | 1817 |
|---|---|
| Headquarters | Toronto, Ontario |
| Global Employees | 49,559 (2023) |
| Insurance Products | Accident & Critical Illness, Life, & Travel Insurance. |
BMO Insurance Quotes
Get a Quote nowFor a BMO Insurance quote, speak with one of our Ontario brokers: rnSpeak with a broker today: 1-800-731-2228
Company Overview
BMO Insurance provides life, health, and travel insurance, but does not offer home, auto, or commercial lines. By focusing solely on what it does best. The result is that BMO Insurance can protect the things in your life that are most important, and help your family or business to remain safe while on the road. People come to BMO Insurance for:
- A wide variety of term and permanent life insurance products
- Comprehensive resources to help clients understand their insurance options
- Travel insurance that can cover frequent or infrequent travel plans
- Coverage that helps people recover from sudden illnesses or serious injuries
BMO Insurance Strengths
BMO Insurance works closely with its underwriters and brokers to make sure that it can solve all of its clients’ issues. With centuries of experience and a large network of international financial and insurance resources, BMO Insurance has grown into a company that knows its business and knows how to help people. There are a lot of reasons why BMO Insurance is trusted by so many Canadians, but some of the primary advantages of working with the company include:
- Comprehensive Support And Resources – BMO Insurance has spent years developing resources to help clients understand their insurance options, and creating seamless ways for brokers and clients to do business with BMO. A lot of insurance companies talk about their customer service, but BMO Insurance goes out of its way to develop innovative ways to increase customer satisfaction.
- Life Insurance Experts – The reason BMO Insurance does not deal in many of the lines other large companies deal in is because it prefers to focus on being life insurance experts. Not only does BMO Insurance have a broad array of life insurance options, but it has developed many ways to customize its offerings to get clients the precise coverage they need for each situation.
- Flexible Insurance Products – With its unique range of products, BMO Insurance has the ability to offer protection packages that many other companies cannot. The years of underwriting experience the company has acquired and its access to significant financial resources gives the company the kind of flexibility it needs to meet a variety of customer requirements.
BMO Insurance Products
BMO Insurance uses its expertise to assist clients in insurance areas that are often vague or undefined. With BMO Insurance, clients get very specific options for travel, health, and life insurance that can help to create comprehensive solutions.
BMO Life Insurance
BMO Insurance offers both term and permanent life insurance products with plenty of options for clients to choose from.
- Term insurance
- Term Life with varying term ranges and coverage options between $100,000 and $5 million
- InsureNow Plus for Canadian residents ages 18 to 49, express insurance options, and coverage amounts from $50,000 to $250,000
- Permanent life insurance
- Pure Term 100 offers Canadian residents ages 18 to 85; free premiums after the age of 100; coverage amounts from $50,000 to $5 million
- Guaranteed Life Plus with guaranteed acceptance for Canadian residents ages 40 to 75; up to $50,000 in basic benefit coverage and up to $250,000 in Accidental Death benefits
- EasyOne Life for Canadian residents ages 50 to 80; guaranteed acceptance with confirmation of no serious illness, and pp to $50,000 in tax-free coverage
Accident and Illness
BMO Insurance has your medical treatment expenses and other financial expenses covered if you are injured or contract a serious medical condition.
- Critical illness insurance
- Life Recovery Plus provides financial relief in case you suffer from a heart attack, stroke, or life-threatening cancer, with total cash benefits between $25,000 and $50,000
- Well Woman provides financial relief if you are diagnosed with covered female cancers, with total cash benefits between $25,000 and $50,000; premiums returned after 20 years in the absence of any claims
- Accident insurance
- FractureCare Plus – Lump sum cash benefits to cover medical costs and more in the event of broken bones, burns, dislocations or paralysis
- Accidental Death Benefit – Tax-free cash benefits for your beneficiaries should your death be caused by an accident; coverage remains in force until you turn 76
- Hospital insurance
- Guaranteed hospital cash covers your hospitalization anywhere in North America, Mexico, and the Caribbean for up to $100 a day; daily cash benefit can be used any way you choose
Travel Insurance
BMO Insurance offers travel insurance protection broken down into several categories.
- Annual travel plans – Medical coverage, enhanced coverage
- Single trip plans – Medical coverage, non-medical coverage, enhanced coverage
BMO Insurance Quotes
Get a Quote nowFor a BMO Insurance quote, speak with one of our Ontario brokers: rnSpeak with a broker today: 1-800-731-2228
Rating: 1
1 /5 stars
BMO Insurance, teamed up with Greatway Financial
It has been a nightmare. Five years ago I was recruited with a BMO Insured Life/Universal Life policy sold to me by their partners at Greatway Financial. They approached me as I moved to Canada from the Phillippines, I had no savings and no other investments. I complained to BMO and they stated as long I signed it, it was of my own doing and they would be able to help me. I lost thousands of dollars over the years on the BMO Insured Retirement Plan that was sold to me by Greatway Financial, a BMO partner. BMO will not sell these policies directly because it would be unethical, but they have teamed up with a group linked to the WFG to flourish business and many are falling prey to the new venture.
Rating: 4
4 /5 stars
No complaints
I have no complaints so far about BMO. Helpful service.
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