BMO can offer a wide variety of insurance plans, anything from individual life insurance through universal life , whole life, term life, critical illness, guaranteed issue life insurance to structured settlements and annuities. Its product portfolio is arguably somewhat specific and thus attracts chosen groups of people within the insurance clientele. That is likely BMO's special advantage. BMO Life distributes its policies mainly via a network of agents originally established by AIG Life.
In 2009, Bank of Montreal got its hands on AIG Life Insurance Company of Canada. The firm was rebranded into BMO Life Assurance Company, although its integral business model remained mostly intact. Analysts across the spectrum welcomed the transaction well, as AIG Life/BMO Life from now on can count on a established and large parent supporting it.
The BMO group includes another life insurer – BMO Life Insurance. This is an entity unconnected to BMO Life Assurance Company, has its own agent network and history, but exists within the family. You can learn more on BMO Life Assurance Company here.