About BMO Insurance Company of Canada
Effective April 2009, AIG Life Insurance Company of Canada was acquired by BMO Financial Group and changed its name to BMO Life Assurance Company. It is no longer affiliated with American International Group, Inc.
BMO Financial Group is a highly diversified North American financial services organization that provides a broad range of retail banking, wealth management, and investment banking products and solutions to more than seven million clients and customers across Canada. BMO offers a range of innovative and easy-to-understand insurance solutions that includes: life and disability insurance on mortgages, loans and lines of credit; MasterCard Outstanding Balance insurance; DirectTerm life insurance; Personal Accident Protection, critical illness, and travel insurance. BMO Nesbitt Burns and its predecessor companies have been helping investors meet their financial goals since 1912. Read more about BMO Insurance.
Product name: single premium immediate annuities
Issue ages: Life and term certain non-registered funds 18 – 80
Types of annuities: single life annuity, joint life annuity, term certain annuity
Rate guarantee: non-registered 7 days, registered 45 days
Guarantee period: up to 25 years maximum
Premium: minimum $10,000 , maximum $2,000,000
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