BMO Credit Card Balance Protection Enhanced

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Get Card balance protection even in unstable times.

Feel confident knowing that your card balance is protected.

BMO Credit Card Balance Protection Enhanced¹

Enrol today to help protect the balance on your BMO credit card account. This insurance coverage helps protect the balance and monthly payments on your BMO credit card account if you were to pass away or experience tough times, such as a job loss or total disability. There can also be a benefit available when you’re celebrating a new addition to your family!

Coverage Details^*

BMO Credit Card Balance Protection Enhanced is an optional insurance that can protect your balance for up to $20,000 if you experience a covered loss. You can also receive a benefit during happy times, when you’re celebrating.

We will pay the total debt on your credit card account to a maximum of $20,000.

Coverage

Description of Coverage

We will pay the total debt on your credit card account to a maximum of $20,000.

Life

In the event of your death.

We will pay a monthly benefit equal to the greater of 20% of the eligible balance or $10.

Coverage

Description of Coverage

We will pay a monthly benefit equal to the greater of 20% of the eligible balance or $10.

Job Loss

If you lose your job due to involuntary layoff or dismissal without cause or are self-employed and your business closes for financial reasons. You must have been working for at least 20 hours per week prior to the job loss and remain unemployed for more than 30 consecutive days. In addition, if employment was contract or temporary, you must have worked at least 90 consecutive days with the same employer or if self-employed in an active business, you must have been working for at least 12 consecutive months. Monthly benefits will be paid as long as you remain eligible.

Total Disability

If you’re unable to perform your normal activities of daily living (including the regular duties of your employment/self-employment). You must remain totally disabled for more than 30 consecutive days and be regularly seen by a licensed physician. Monthly benefits will be paid as long as you remain eligible.

Celebration Events

You will receive one monthly benefit in the event of the birth or adoption of your child or grandchild. The celebration event must occur more than 30 days after enrolment. A maximum of one covered event per calendar year will be paid.

*Please refer to the Certificate of Insurance for the full terms and conditions. Your certificate outlines the procedures to submit a claim. We pay approved claims within 30 days of receiving the proof required. If your claim is denied, you will receive a written explanation with the appeal process. You must claim within 90 days of loss, except for Life claims which should be provided to us as soon as reasonably possible.

Cost of Coverage

$1 per $100 of your total balance (as shown on your account as of the statement date), plus applicable taxes.

The insurance premium will be charged to your BMO credit card and appear on your monthly credit card statement.

How your premium is calculated

Monthly Premium =

total balance x $1/ $100 + applicable taxes
For example, if your monthly credit card statement shows a total balance of $500, your insurance premium for that month will be $5.00, plus applicable taxes.
$500 x $1 / $100 = $5.00

We need to confirm a few things.

This will help us offer insurance coverage that is appropriate for you.

This optional insurance covers life, job loss and total disability, do you already have this coverage for this credit card?

Are you at least 20 years of age and under the age of 70?

Are you a resident of Canada?

Job Loss Coverage Disclosure

You acknowledge that employment eligibility criteria at the time of job loss applies to the Job Loss coverage. Refer to for more information.

Job Loss Exclusion

You acknowledge this insurance does not cover Job Loss within 30 days of your insurance enrolment date.

This insurance is considered appropriate for you, please complete form below.

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Enrol in BMO Credit Card Balance Protection Enhanced

Here are a few things you need to know before you enrol.

This program is provided by American Bankers Life Assurance Company of Florida and American Bankers Insurance Company of Florida. To enrol you must be the primary cardholder who is a resident of Canada with an account in good standing. You must also be at least 20 years old and less than 70 years old at time of enrolment.

Please note that this coverage excludes:

Death resulting from suicide within 24 months of the enrolment.
Job loss for any reason within 30 days of the enrolment.
Job loss due to or resulting from strike or lockout; resignation; voluntary forfeiture of salary, wages or income; the regular end of a seasonal employment period; or expiration of a fixed-term contract of employment at the end its term.

You are being provided with the following important documents that you should review prior to enrolment:

Certificate of Insurance : outlines the full terms, eligibility, benefits, limitations and exclusions of this product.

Product Summary, Notice of Rescission, and Fact Sheet : for residents of Quebec only.

Assurant’s Privacy Policy : Assurant respects your privacy.

Should you choose to enrol, a welcome package containing these documents will be mailed to you for your further review.

This is an OPTIONAL insurance that can be cancelled at any time. You will receive a full refund if you cancel within the first 30 days of receipt of Certificate of Insurance. Your insurance coverage ends when the group master policies are terminated, you turn 75, you pass away, your account is not in good standing or BMO closes your account, cancels your card, or withdraws your rights and privileges on your account.

Please acknowledge that you have been provided with, understood and accepted:

all terms, eligibility, benefits, limitations and exclusions, and
the Privacy Policy.

If you are a resident of Quebec you also acknowledge that you have been provided with and have reviewed the Product Summary, Notice of Rescission and Fact Sheet. In addition, you acknowledge that your language preference of enrollment is based on the language preference you have selected with BMO for your credit card and cannot be selected on this website. If you wish to change your language of preference please refer to your welcome package.

Please acknowledge that you have been provided with, understood and accepted all terms, eligibility, benefits, limitations and exclusions, and the Privacy Policy. If you are a resident of Quebec you also acknowledge that you have been provided with and have reviewed the Product Summary, Notice of Rescission and Fact Sheet.

Please provide the information below to complete your enrolment:

Please enter your name as it appears on your credit card statement.

(If you participate in the BMO True NameTM program please call BMO at 1-800-263-2263 to enroll in BMO Credit Card Balance Protection Enhanced.)

First Name*

Middle Initial

Last Name*

Credit Card Number*

Date of Birth*

Please confirm you are not a robot.

BMO Credit Card Balance Protection Enhanced1

Coverage Details*