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Term 100

Simple financial protection for as long as you live, permanent life insurance can help protect your finances and your family against many of life’s uncertainties.

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What is Term 100?

Permanent life insurance can be important, whether you’re planning your estate or need a source of funds to help your heirs:

  • Plan with the end in mind

    Cover your final expenses and replace your lost future income

  • Support your philanthropic efforts

    Leave a financial gift in your name to your favourite charity

  • Prepare for the future

    Offset the taxes which will become payable on your RRSP when you die

  • Manage your estate and tax strategy

    Minimize the impact of taxes on other taxable assets in your estate - such as the capital gains tax on the increase in value of your cottage

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How does Term 100 work?

Term 100 is a permanent life insurance protection plan with guaranteed level premiums payable until age 100. When you die, the death benefit is paid as a tax-free, lump sum to your beneficiaries and the policy ends.

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Benefits of Term 100 insurance

Our term life 100 policies are designed to provide permanent coverage with fixed premiums to help best suit your needs.

  • Permanent coverage

    • Lifetime coverage as long as you pay your premiums
    • Your premiums are fixed and remain level. No further premium required after age 100
    • Choose how much coverage you need from $50,000 to $20 million

  • Flexibility

    • Add optional term insurance coverage on the same policy for short term needs
    • Add separate coverage on the same policy for other family members

  • BMO Insurance Health Advocate™ Plan

    • You and your family will have access to a comprehensive range of health counselling and personal assistance services - at no extra cost.
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Complimentary loss support services for beneficiaries

As a BMO Insurance policyholder, your beneficiaries receive complimentary access to Empathy – a service that blends technology and human care to guide families through grief and estate-related tasks. Empathy offers: personalized care plans, grief support resources, custom funeral assistance and more.

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How to apply for Term 100 insurance

Follow these steps to get permanent Term 100 insurance protection.

  1. Get a quote

    Use the Term life get a quote tool and speak to an insurance advisor.

  2. Consult

    Work with your insurance advisor to review goals and set your plan.

  3. Apply

    Complete your application with your advisor to obtain coverage.

Frequently asked questions about Term 100

  • The cost of a Term 100 plan will depend on your financial goals and life situation. Your financial advisor can work with you to review your situation and develop a plan to meet your specific needs.

  • Term 100 can suit you if you want permanent, lifelong coverage with premiums that never increase, without the investment or cash-value component of other permanent plans. Your advisor can confirm whether it fits your goals.

  • Both cover you for life. Term 100 keeps it simple — level premiums payable to age 100 and a tax-free death benefit, with no cash value. Whole life also builds a guaranteed cash value you can access during your lifetime, which typically makes it more expensive.

  • For life. Premiums are payable until age 100, after which no further premiums are required and your coverage continues. The death benefit is paid to your beneficiaries when you die, and the policy ends.

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