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BMO U.S. Benefits

Supplemental Life & Accident Premiums

You pay the cost for Supplemental Life and Family Life insurance on an after-tax basis and Accident insurance on a before-tax basis.

If you enroll in Supplemental Life, Family Life or Accident insurance, the premium is deducted from the first and second paycheck of each month.

2020 Supplemental Life Insurance Monthly Premiums
Deducted after-tax
AgeNon-Smoker
Rate per $1,000 of coverage
Smoker
Rate per $1,000 of coverage
Under 25
$0.039$0.050
25-29$0.039$0.060
30-34$0.049$0.080
35-39$0.068$0.107
40-44$0.088$0.155
45-49$0.127$0.213
50-54$0.205$0.398
55-59$0.381$0.679
60-64$0.576$1.067
65-69$1.103
$2.008
70+$1.796
$3.250

2020 Family Life Insurance Monthly Premiums
Deducted after-tax
Coverage for SpousePremiumCoverage for Child(ren)Premium
$12,000$2.180$3,000$0.500
$24,000$4.380$6,000$1.020
$36,000$6.560$9,000$1.540

 The total amount of Family Life insurance for all dependents cannot exceed 100% of your combined Basic and Supplemental Life insurance.


2020 Accident Insurance Monthly Premiums
Deducted before-tax
Coverage Level
Rate per $10,000 of coverage
Employee$0.15
Employee + Family$0.40

If you elect coverage for a non-tax dependent domestic partner, the premium difference between employee-only and family coverage will be deducted on an after-tax basis.

 

Need assistance?

Call the Human Resources Centre
1-888-927-7700
Monday through Friday, from 8 a.m. to 5 p.m. CT