Term Life policy fee discount extended

We’re pleased to announce that our $25 policy fee discount is being extended until December 31, 2019. This discount applies to all Term Life base applications with face amounts of $500,000 and over. 

When it comes to your clients’ Term insurance needs, BMO Insurance continues to remain a great choice! Take a look at the following example:  
 

Plus, here’s what else you’ll notice*:

• Competitive premiums for face amounts of $500,000+ across Term 10, 15 and 20 plans for both males and females 
• Term 25 and 30 premiums continue to be highly competitive for face amounts of $100,000+

How to Illustrate the Discount 

• While running a Term Life illustration on The Wave 40.0, simply select the “Multi-policy discount” check box. 

Discount Guidelines (until December 31, 2019) 

• All Term Life base plan applications with face amounts of $500,000 or over that are received by December 31, 2019 will be issued with the $25 discount 
• One discount per policy: if a policy is eligible for the multi-policy fee discount and the annual policy fee discount, only ONE discount will be applied 

There is no discount on Term riders on Universal Life, the BMO Insurance Whole Life Plan and Term 100. Base Term Life plans with face amounts of $100,000 - $499,999 are also not eligible for the discount.

* Source: LifeGuide (2019.09). Companies surveyed: BMO Insurance, Canada Life, Desjardins Financial, Empire Life, Equitable Life, Foresters Life, Industrial Alliance, ivari, Manulife, RBC Insurance, SSQ Assurance and Sun Life. Ranking is based on the lowest annual premium on all Term 10 Renewal and Convertible plans. The comparison was performed based on information believed to be reliable and in effect as at September 13, 2019.  BMO Insurance is not liable for any errors or omissions in the information derived from third party sources.