BMO Insurance recently rolled out their newest insurance plans, InsureNOW and InsureNOW Plus, and their focus is somewhat different and unique compared to the market at large. With an aging population and a greater focus on investment and wealth management, InsureNOW seems to do things quite different – it’s making insurance easier than ever to get for young Canadians, available from ages 18 to 49.
But just how easy and effective is this plan at providing solutions for millennials?
Guaranteed issue life insurance is fairly indistinct product. Designed to be a bare bones life insurance policy that pretty much anyone can qualify for, a plan by one provider is going to be functionally similar if not identical to a plan offered by its closest competitor.
BMO Insurance has put something of an interesting spin on the guaranteed model with their Guaranteed Life Plus. Rather than focus on the traditional model of providing options and pricing you, they’ve done the opposite and provided probably the only guaranteed insurance product that you can buy for $20 a month when you’re 70.
On Monday, Assumption Life updated one of its core flagship insurance products – their FlexTerm plan. The changes are notable in a sense that it brings what Assumption Life has always done best (providing better options to Canadians with few) with what everyone wants to see – more for you and less for them.
This plan had some difficulties in the past – so a here-and-now is in order.