BMO Insurance is committed to the well-being of you, and your clients, during these challenging times. Many will face financial difficulties as we work together to minimize the effects of COVID-19. To help, we are introducing a Premium Deferral Program for eligible policyowners.
How it works
The program applies to BMO Insurance individual term life, whole life, universal life and critical illness policies. Policyowners may request a 90-day deferral of their premiums if they are experiencing financial hardship due to:
- COVID-19 related illness or quarantine
- Job loss (temporarily or permanently)
- Unpaid leave of absence to take care of family member(s)
- Business disruption
This temporary measure may be requested on policies issued on or before March 13, 2020.
The program will be available until May 31, 2020. For more details, please read this [FAQ].
Have other questions?
Please visit bmo.com/insurance/advisor/covid-19/.
In this rapidly changing environment, it has never been more important to be connected with your local BMO Business Development Manager and Regional Office. They are up to date on these changes and ready to respond to your questions.
On behalf of everyone at BMO Insurance, please continue to take care of yourself and thank you for your patience as we respond to these challenging times.