Review: BMO EasyOne Life Insurance

by Kerri-Lynn McAllister August 17, 2016 / No Comments

If you’re looking for permanent life insurance, EasyOne Life from BMO Insurance combines a simplified approval process with the convenience of buying direct.

Highlights

  • Coverage from $5,000 to $50,000 in increments of $5,000
  • Available for ages 50 to 80
  • Tax-free death benefit to your beneficiary
  • Fast and easy application process
  • Immediate coverage from the day BMO Insurance receives your completed application with your declaration that you don’t have a serious illness
  • You don’t need to get a medical or provide body fluids as long as you sign a declaration that you don’t have a serious illness
  • Free access to the Helping Handsä health and wellness program
  • Free return of your remains to your family if you die more than 200 km from home
  • You can cancel at any time within 30 days

Coverage is automatically available to Canadian residents between the ages of 50 and 80 who don’t have a serious illness when applying for insurance.

What is a serious illness?

To avoid confusion about the meaning of “serious Illness,” BMO Insurance has defined them. For example, coverage isn’t available to people who:

  • Had a stroke or cancer in the last five years
  • Have or had immunological disorders, including AIDS
  • Have Alzheimer’s, Lou Gehrig’s disease or Parkinson’s

You’ll find a broader and more detailed list in the policy contract on BMO Insurance’s website.

What is Helping Hands?

Helping Hands is a health and wellness program from Sheppell•fgi. You and your immediate family will have access to:

  • A registered nurse any time on the health information hotline
  • Referrals to help you find homecare, childcare, and eldercare in your area
  • An online health and wellness resource library
  • Counselling services any time by phone or online in 140 languages
  • Support for your caregiver and beneficiary after your death

These services are confidential and available 24/7 while you have your insurance.

More details about the program are Sheppell•fgi’s website.

Convenience

Getting conventional life insurance takes time and is a hassle. There are lots of medical questions. You may need to give samples of your blood and urine. If your needs are permanent, small, and simple, you’ll find that EasyOne Life is appealing.

The fine print

Since life insurance requires trust, you must answer the questions carefully. The death benefit won’t be paid if the information you provide during the application process is false, incorrect or incomplete. Since you aren’t using an advisor, the onus is on you to answer properly. If you have questions about your condition, you might want to consult your doctor before completing the application.

The policy contract has more details, including exclusions and limitations. You can review a specimen contract before buying and examine your actual contract during your 30-day free look period. If you have questions, you can contact BMO Insurance directly.

The bottom line

Permanent life insurance lets you leave a gift of cash for your loved ones and cover your final expenses. EasyOne Life lets you get your coverage easily and quickly.

EasyOne Life from BMO Insurance

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Highlights:

  • Easy application process – buy completely online or by phone
  • Canadians ages 50-80 can purchase
  • Coverage ranges from $5,000 to $50,000
  • Access to Helping Hands service, providing 24/7 confidential support
  • No medical exams, simply sign a declaration that you don’t have a Serious Illness (as defined by the policy)

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Flickr: GotCredit