News Releases
TORONTO, June 1, 2020 /CNW/ - BMO Insurance today announced enhancements to its BMO Guaranteed Investment Funds (GIF), including new investment, guarantee and no-load sales charge options.
"During these unprecedented times, we continue to develop solutions to safeguard the financial wellbeing of our clients," said Steven Cooney, Senior Vice President and Head of Individual Life and Annuities, BMO Insurance. "The recent market correction demonstrates the importance of having a diversified, global investment strategy to grow and protect wealth."
New Investment Options
BMO Insurance has added two new funds to its BMO GIF portfolio: the BMO Concentrated Global Equity GIF and BMO Concentrated Global Balanced GIF. Focusing on stocks with higher and more sustainable earnings and cash flow growth rates than the market average, the BMO Concentrated Global Equity GIF invests directly in BMO Concentrated Global Equity Fund, a mutual fund that invests in 20 to 25 high quality, long-term growth companies. For more risk adverse investors, the BMO Concentrated Global Balanced GIF pairs the performance potential of the BMO Concentrated Global Equity GIF with the peace of mind offered by fixed income.
Death Benefit Guarantee on Deposits
BMO Insurance's GIF 75/100 Plus will extend the 100 per cent death benefit guarantee on deposits to age 85, an increase from age 80. With the extended death benefit guarantee, older clients will have access to enhanced estate preservation and wealth transfer protection.
New No-Load Sales Charge Option
In addition to its current no-load sales charge option, BMO Insurance is introducing a new no-load sales charge option. Together these provide financial advisors greater flexibility to offer clients access to their funds at any time without incurring any surrender charges.
For more information on the enhanced funds and BMO Insurance, please visit www.bmoinsurance.com/GIF.
About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $987 billion as of April 30, 2020, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.
SOURCE BMO Financial Group
