We’re excited to announce the following enhancements on our life product portfolio which you’ll notice on the latest version of The Wave: 

More flexibility on the BMO Insurance Whole Life Plan:

• INCREASED maximum face amount   
  • More quoting opportunities for you in the high net worth market 
  • Quote up to $20,000,000 of initial face amount (for ages 18 – 80) 
• NEW Additional Payment Option 
  • Top-up premiums and build more upfront cash value 
  • Stop and restart these payments without any additional underwriting!
  • Available on the 20 Pay and Pay to Age 100 
• NEW Premium Offset 
  • Choose to stop paying premiums and have these amounts deducted from the Paid-Up Additions Cash Value and Additional Payment Balance 
• NEW riders and benefits 
  • Provide your clients with more complete coverage with these riders:
    • Accidental Death Benefit (ADB)
    • Children’s Term Rider (CTR)
    • Joint Last to Die Conversion (JLTD Conversion) 
    • Special Death Benefit Option (SDB) – a unique feature on whole life plans

A new and innovative UL investment option:

• NEW North American Equity Enhanced Market Indexed Account (EMIA)
  • Credited rate currently set at 4% 
    • Linked to the performance of low volatility Canadian and US market indices
    • Guarantee that the rate of return will never be negative 
    • Includes a smoothing formula for a more stable return 
  • Available on Life Dimensions, Life Dimensions (Low Fees) and Wealth Dimensions¹ 

Plus, we’ve also updated our underwriting requirements: 

• NEW Age and Amount requirements across all life and critical illness plans² 
  • Introduction of a Paramedical requirement in place of a Medical requirement
  • Introduction of Tele-interview and Vitals requirements in place of a Paramedical requirement. 
    • NOTE: Tele-Interview and Vitals should be ordered via Dynacare. 
  • Refer to our Underwriting Guidelines (319E) or the Underwriting Requirements page on The Wave illustration report for more details

Please download The Wave 41.0 and read our Transition Rules for more details.


¹ This account is only available on universal life insurance policies issued on January 2, 2017 or later (i.e. those issued under Wave 33.0 or later).

² Except for Non-Face-to-Face Fillable PDF applications (431E).