Be sure to download the latest version of The Wave to check out the following enhancements:
BMO Insurance Whole Life: same product, now with two plan options.
We’re excited to be introducing the following changes to our whole life portfolio:
BMO Insurance Whole Life Estate Protector: this will be the plan option name for the current BMO Insurance Whole Life Plan that we launched in May 2017. It will continue to be focused on providing exceptional long-term values. Note: there are no rate changes on this plan.
BMO Insurance Whole Life Wealth Accelerator: this will be a new plan option that offers higher short-term cash values while still providing valuable permanent life insurance.
The world has changed but our whole life plan advantages have not.
With BMO Insurance Whole Life, you’ll be able to offer your clients:
- The clarity they deserve, as far as returns on their policy:
- A simple and easy-to-understand Performance Bonus Rate (PBR) formula
- A PBR rate that’s unaffected by mortality, expenses and lapses
- More predictability of policy values in declining markets:
- Both plans illustrate well in -1% and -2% scenarios
- The PBR also includes a smoothing formula to help manage client expectations
- A plan that is backed by the financial strength of BMO Financial Group, one of North America’s leading diversified financial services companies
- The strategy behind the plan is managed by BMO Insurance in partnership with BMO Capital Markets and BMO Asset Management.
Starting June 22, 2020, we will be accepting new business applications for the new BMO Insurance Whole Life Wealth Accelerator. Pending applications for the BMO Insurance Whole Life Plan will be processed as BMO Insurance Whole Life Estate Protector unless requested otherwise.
Please download The Wave 43.0 and read our Transition Rules for more details.
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