BMO Term Life Insurance review
Best for: Canadians who want a standard 10 to 30-year term with high coverage limits, critical illness riders and an advisor to guide the application.
Term 10 can be exchanged for a longer term within the first 5 years.
BMO’s consumer page gives no breakdown by term length.
Applications are subject to full underwriting.
To an eligible permanent policy, with no exams or health questionnaires.
The bottom line
BMO Insurance offers term life in 10, 15, 20, 25 or 30-year lengths, with coverage from $100,000 to $30 million for applicants aged 18 to 78. You can convert to an eligible permanent policy before age 71 with no medical exam, and critical illness riders can be added. Expect full underwriting, possibly including a medical exam, and an advisor to finish the application after an online quote.
Pros & cons
Pros
- High coverage ceiling of $30 million
- Critical illness riders can be added to the term policy
- Converts to permanent coverage before age 71 with no medical
- Term 10 can be exchanged for a longer term within 5 years
- Beneficiaries get Empathy bereavement and estate-task support
Cons
- Fully underwritten; a medical exam may be required
- No online purchase; an advisor completes the application
- Issue ages by term length aren’t published
- Coverage ends at age 85
A conventional, fully underwritten term plan with high limits and a broad rider list. It fits buyers working with an advisor who want critical illness protection on the same policy.
Suits you if
- You want critical illness riders on your term policy
- You need several million dollars of coverage
- You’re fine completing the application with an advisor
Look elsewhere if
- You want to avoid a medical exam
- You want to buy coverage online yourself
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Our detailed review
BMO’s term life product
BMO Life Assurance Company issues BMO’s term life insurance, with terms of 10, 15, 20, 25 or 30 years and options to renew and convert. The plan is fully underwritten and completed with an advisor, and BMO pairs it with a long list of riders, including critical illness coverage. Beneficiaries also get complimentary access to Empathy, a service that helps with bereavement and estate tasks.
Older BMO comparison pages still describe a direct product called EasyTerm, but its web address now redirects to the main term page. Treat those older details as out of date and rely on the current term product described here.
Coverage amounts and issue ages
BMO lists coverage from $100,000 to $30 million. Its consumer page gives issue ages of 18 to 78 without a breakdown by term length. Because coverage expires at age 85, longer terms are likely to have lower maximum issue ages, but BMO’s advisor documents with per-term limits could not be read, so confirm your eligibility with an advisor before you count on a particular term.
Medical underwriting
BMO says a medical exam may be required and that applications are subject to full underwriting requirements. It does not publish a no-exam limit for the current product, so plan for health questions and possibly an exam or other medical evidence, depending on your age, health and the amount you apply for.
Renewal, conversion, exchange and riders
At the end of the term, BMO says coverage may be renewed at a new rate, and coverage expires at age 85. Any time before age 71, you can convert to any eligible permanent policy with no medical exams or health questionnaires.
BMO also offers an exchange: you may move the full or partial amount of an eligible Term 10 plan to a Term 15, 20, 25 or 30 policy, subject to certain limits, within the first 5 years. Riders BMO lists:
- Critical illness riders
- Living Benefit 10 and 20
- Accidental death benefit
- Children’s term rider
- Business guaranteed insurability option
- Waiver rider
How to apply
BMO offers an online quote tool, then asks you to complete your application with an advisor to obtain coverage. There is no fully online purchase. An advisor can confirm which issue ages apply to each term, whether you will need an exam and how riders such as critical illness coverage fit with the base policy, since BMO does not state rider-specific age or amount limits on its consumer page.
Other term life insurance we review
- Canada Life Term Life InsuranceTerms: 5 to 50 years (My Term)
- Canada Protection Plan Term Life InsuranceTerms: 10, 20, 25 or 30 years
- Desjardins Term Life InsuranceTerms: 10 to 30 years, or to 65
- Empire Life Term Life InsuranceTerms: 10 to 30 years, or ART
- Equitable Term Life InsuranceTerms: 10, 20 or 30/65 years
- Humania Term Life InsuranceTerms: T10 to T30, T80, T100
- iA Financial Group Term Life InsuranceTerms: 10 to 40 years
- Manulife CoverMe Term Life InsuranceTerms: 10 or 20 years
- Manulife Family Term Life InsuranceTerms: 10, 20, to 65 or to 100
- PolicyMe Term Life InsuranceTerms: 10 to 30 years
- RBC Term Life InsuranceTerms: Any length, 10 to 40 years
- Sun Life Term Life InsuranceTerms: 5 to 40 years (Evolve)
Frequently Asked Questions
What is the maximum age to apply for BMO term life insurance?
BMO’s consumer page lists issue ages of 18 to 78 but gives no breakdown by term length. Since coverage expires at age 85, longer terms likely have lower limits, so confirm with an advisor.
Can I add critical illness coverage to a BMO term policy?
Yes. BMO lists critical illness riders that can be added to its term life policy, along with Living Benefit 10 and 20. Rider-specific age and amount limits are not stated on its consumer page.
Can I change my BMO Term 10 to a longer term?
Yes. BMO says you may exchange the full or partial amount of an eligible Term 10 plan to a Term 15, 20, 25 or 30 policy within the first 5 years, subject to certain limits.
Does BMO term life require a medical exam?
It may. BMO says a medical exam may be required and that applications are subject to full underwriting. It does not publish a no-exam limit for its current term product.
Can I convert BMO term life to permanent insurance without a medical?
Yes. BMO says that any time before age 71 you can convert to any eligible permanent policy, with no medical exams or health questionnaires.
Can I buy BMO term life insurance online?
Only the quote is online. BMO asks you to complete your application with an advisor to obtain coverage.
Is BMO EasyTerm still available?
It appears not. The EasyTerm web address now redirects to BMO’s main term life page, so an older comparison page describing EasyTerm is likely out of date. Ask BMO or an advisor about the current term product instead.
What support does BMO offer my beneficiaries?
BMO says beneficiaries get complimentary access to Empathy, which offers bereavement support and help with estate tasks. Ask BMO how to access it when you set up the policy.
Sources
Features come from the insurer’s own site, checked October 14, 2026. Coverage is decided by the policy wording, not this summary: read it, and answer every medical question accurately. We don’t show premiums because they depend on your age, health and coverage. See our methodology.