BMO Insurance: Annuity
Annuities from BMO Insurance
A BMO Insurance Annuity provides regular, fixed income payments for the rest of your entire life. If you are looking for a guaranteed monthly income stream that will continue until your death, a life annuity from BMO Insurance may be the perfect retirement option.
Talk to a BMO Insurance Agent/Broker
The best way to learn more about annuities offered by BMO Insurance is to contact an insurance agent or broker who is licensed to sell BMO Insurance annuity products. An annuity broker deals with more than one company and can help you compare the monthly income payments from all of the different life insurance companies that sell annuities in Canada.
How To Buy An Annuity from BMO Insurance
- Complete a BMO Annuity Quote Online.
- Receive BMO Annuity Illustration via Email.
- Complete the BMO Annuity Application.
- Complete The Required Transfer Form(s).
- The following items are sent to BMO Insurance:
Completing a BMO Insurance annuity quote below is the first step in calculating your monthly income based on your personal needs.
Once you submit a quote request, we will calculate your annuity payout and send you the BMO Annuity Illustration within one business day. Click here for an example of a BMO Annuity Illustration.
After reviewing the annuity illustration, the annuity broker will take down your information and complete the annuity application for you. Here is an example of a BMO Annuity Application.
The annuity broker will complete the transfer forms that are required to fund the annuity. Registered funds such as a RRSP, RRIF, LIRA or RPP are transferred from one institution to another using a CRA transfer form. If the funds are coming from a non-registered source (e.g. cash), the annuity broker will help provide instructions on how to provide a bank draft or cheque that is payable to BMO Insurance directly to BMO's head office.
- BMO Annuity Application
- BMO Annuity Illustration
- Transfer Form (for registered funds) or
- Cheque payable to BMO Insurance (for non-registered funds)
- Void cheque for the payment of the monthly income
- Copy of a government issued photo ID
Your annuity policy will be issued when the registered funds are transferred. Or when the non-registered funds have been cashed.
About BMO Insurance
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.