BMO Insurance Enhances Flagship Whole Life Product
Whole life insurance plans offer permanent life insurance protection with fixed level premiums which are payable for a given number of years, while offsetting the impact taxes could have on overall estate values. This type of insurance can also be ideal as a source of funds for heirs to cover final expenses, offset taxes or leave a financial gift to a charity.
"Given the evolving needs of our clients amid the most significant intergenerational wealth transfer now underway globally and in
For the same premium, BMO Insurance Whole Life now offers:
- Estate Protector option: Increases to the death benefit of up to 18% (age and pay period dependent) at age 85.
- Wealth Accelerator option: Increases to the death benefit of up to 17% (age and pay period dependent) at age 85.
New rates will be applied to all applications received on or after
First launched in 2017 with the goal of providing simple, flexible, and guaranteed permanent insurance, the BMO Insurance Whole Life product is a non-participating permanent insurance product designed for Canadians who are looking for permanent life insurance protection that's simple to understand and adaptable to their changing needs.
Key features include:
- Guaranteed premiums that are payable for 10 years, 20 years or to age 100
- Guaranteed cash values, and reduced paid-up values
- A performance bonus that automatically increases the death benefit and cash value
- Two plan options: Estate Protector and Wealth Accelerator to address distinct needs
- The BMO Insurance Health Advocate™ Plan, at no additional cost 1
- A premium switch option lets clients decrease payments without penalty 2
- Additional payment option and premium offset option 2
Visit bmoinsurancewholelife.com for full product details.
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Certain limits and conditions apply. Refer to a sample policy for more details. |
Information contained in this document is for illustrative purposes and is subject to change without notice. The information in this publication is intended as a summary of our products and/or services. Please consult the appropriate policy contract for details on the terms, conditions, benefits, guarantees, exclusions and limitations. The actual policy issued governs. Each policyholder's financial circumstances are unique and they must obtain and rely upon independent tax, accounting, legal and other advice concerning the structure of their insurance, as they deem appropriate for their particular circumstances.
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