Living Benefit Plans

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1 Living Benefit Plans

2 What is Critical Illness Insurance? Critical Illness Insurance pays a lump sum Benefit upon diagnosis of a covered condition, such as, heart attack, cancer and stroke.

3 History Origins of Critical Illness Insurance Critical illness insurance first emerged in South Africa in 1983 and was known as dread disease insurance. Dr. Marius Barnard Founder of Critical Illness Insurance Conceived by Dr. Marius Barnard, the brother of the late worldrenowned South African heart transplant surgeon, Dr. Christiaan Barnard.

4 Real Need Need for Critical Illness Insurance Medical Advances Medical advances have greatly influenced the length of time that people are living today. The longevity of this population increases the chance for them to be afflicted by more types of conditions. Aging Population The largest segment of the population is the baby boomers. The baby boomers are aging and thus are a larger strain on the medical resources and funding currently available.

5 By the Numbers 44% of new cancer cases and 60% of deaths due to cancer occur among those who are at least 70 years old. 2.4% of Canadian men and 2.7% of Canadian women have had a diagnosis of cancer in the previous 15 years. It is estimated that there are over 70,000 heart attacks in Canada each year. Over 80% of heart attack patients admitted to hospital survive. About 300,000 Canadians are living with the effects of stroke. After age 55, the risk of stroke doubles every 10 years. Statistics Canada, Heart & Stroke Foundation, Canadian Cancer Society

6 In Canada We are living longer in Canada Males Females * * Projected life expectancy based on historic trend for Statistics Canada

7 In Canada Medical care costs in Canada HOME CARE Health care with light housekeeping Registered Practical Nurse Registered Nurse $100/day $175/day $200/day MEDICAL EQUIPMENT Wheel Chair $2,500 Walker $500 Chair Lift $2,000 Vehicle modification $7,500 - $10,000

8 Cost of Waiting PROCEDURE & RELATED CRITICAL ILLNESS Statistics Canada, Heart & Stroke Foundation, Canadian Cancer Society PRICE (in US funds) Heart Transplant $316,481 Liver Transplant $203,336 Lung Transplant $165,362 Bone Marrow Transplant $125,784 Cardiac Valve & other Major Cardiothoracic Procedures $117,764 Coronary Bypass with PTCA $117,319 Coronary Bypass with cardiac catheterization $100,470 Kidney Transplant $99,093 Craniotomy for Multiple Significant Trauma $85,658 Craniotomy (non-trauma related) $58,682 Acute Leukemia without O.R procedure, age > 17 $48,044 Chemotherapy w/ acute leukemia as secondary diagnosis $47,769 Lymphoma & Leukemia w/ major operating room procedures $44,539 Uterine & Adnexa procedure for ovarian or adnexal malignancy $44,251 Lymphoma & Non-Acute Leukemia w/ other O.R. proceudres w/ complications $43,236 Rectal Rsection with complications $40,775 Acute Leukemia without O.R procedure, age 0-17 $35,359 Uterine Adnexa procedure for non-ovarian adnexal malignancies w/ complications $29,771 Lymphoma & Non-Acute leukemia w/ complications $24,515 Malignancy of Hepatobiliary System or Pancreas $23,947 Total Mastecomty for Malignancy w/ complications $23,836 Kidney & Urinary Tract Neoplasms w/ complications $20,935 Prostatectomy w/ complications $20,834

9 Available Plans Living Benefit 10 Guaranteed renewable 10 year coverage to age 75 Guaranteed right to convert, up to age 60, to a level premium to age 75 or to age 100 coverage Living Benefit 20 Guaranteed renewable 20 year coverage to age 75 Guaranteed right to convert, up to age 60, to a level premium to age 75 or to age 100 coverage Living Benefit 75 Guaranteed level premiums to age 75 ROPS rider starting at latter of 10 years or age 50 for 50% of the eligible premiums, increasing to 100% by age 75 Living Benefit 100 Guaranteed level premiums to age 100 Payout of CI Benefit at age 100 if no claim is made ROPS starts after 10 years for 50% of the eligible premium, increasing to 100% after 15 years.

10 Available Plans NEW 15 PAY LIVING BENEFIT 100 PLAN Premiums guaranteed to be fully paid after 15 years Coverage period to age 100 Starting after 15 years, 100% of eligible premiums can be refunded (ROPS rider) Issue ages Min / Max issue: $25,000 to $1 mm New industry benchmark definitions* * 15-Pay Living Benefit 100 does not include Loss of Independent Existence

11 Available Plans NEW 15 PAY LIVING BENEFIT 100 PLAN Ideal for clients Looking for permanent lifetime CI protection Working today and can afford it Don t want CI premiums as a retirement expense Wanting a fully paid-up asset with ROPS Wanting to save money!

12 Plan Highlights Industry Leading 25 Covered Conditions Return of Premium options beginning as early as 10 years 100% ROP as early as 15 years Guaranteed Second Opinion Benefit for Life Insured Second Opinion Benefit for immediate and extended family members Guaranteed Conversion Options on the 10 and 20 year plans No age limit on Loss of Independent Existence coverage Competitive rates Competitive commissions

13 Standard Features 25 Covered Conditions Heart Attack Stroke Kidney Failure Severe Burns Loss of Speech Loss of Limbs Multiple Sclerosis Blindness Motor Neuron Disease Aortic Surgery Parkinson s Disease Aplastic Anaemia Bacterial Meningitis * 15-Pay Living Benefit 100 does not include Loss of Independent Existence Cancer Coma Coronary Artery Bypass Surgery Major Organ Transplant and Major Organ Failure Deafness Alzheimer s Disease Paralysis Occupational HIV Infection Loss of Independent Existence* Benign Brain Tumour Heart Valve Replacement Early Discovery Benefit

14 New Industry Benchmark CI Definitions Now, on all BMO Living Benefit (CI) plans Consistent wording across definitions Greater clarity for ease of understanding Enhanced diagnostic measures Plus improvements on some definitions!

15 Standard Features Early Discovery Benefit Advances 10% of the Critical Illness Benefit up to $25,000 for the early diagnosis of any one of the following conditions not covered under the base critical illness plan. Early Prostate Cancer Ductal Breast Cancer (DCIS) Superficial Malignant Melanoma Coronary Angioplasty The payout on these non life-threatening conditions will allow the Life Insured the opportunity to manage their condition immediately without worry of cost of treatment or expenses from time off work.

16 Standard Features Loss of Independent Existence BMO Insurance offers Loss of Independent Existence with no age limit on all CI plans* and is defined as either being totally and permanently unable to perform, by oneself, at least two of six Activities of Daily Living with no reasonable chance of recovery, or mental deterioration and loss of intellectual ability. The number of persons with disabilities (those who have difficulties with ADLs) increases dramatically with age. Over 40% of Canadians over the age of 65 have difficulties with ADLs More than 1 in 2 Canadians over the age of 75 have difficulties with ADLs * 15-Pay Living Benefit 100 does not include Loss of Independent Existence Data exclude Yukon, Northwest Territories and Nunavut. Data may not add to total because of rounding. Source: Statistics Canada 2001

17 Standard Features Recent additions to BMO Insurance CI plans Bacterial Meningitis and Aplastic Anaemia Bacterial Meningitis is the most serious disease of all types of meningitis with 1000 new cases reported each year in Canada. One of the most common types of bacteria to cause meningitis is E. coli. Aplastic Anaemia is an extremely serious disorder that results when the marrow fails to produce blood cells. Anaemia results from reduced red cell production, infections are a result of reduced white cell production. Aplastic Anaemia may be either acquired or inherited.

18 Standard Features & Critical Care Assist Benefit BMO Insurance offers two great assistance services, included at no additional cost to you when you purchase a new Living Benefit policy from BMO. These services are designed to help you and your family recover medically, financially and emotionally when it s needed the most. - Help is always as close as your phone: confidential answers to life s most personal questions provided by Shepell fgi, Canada s leading personal assistance program provider. Critical Care Assist Benefit - Access to critical illness medical information and services when it matters most provided by Best Doctors, a world leader in connecting people to the best medical advice and care.

19 A Plan to Suit Each Client Living Benefit 10 Offers leading 25 covered conditions Competitive rates Guaranteed right to convert up to age 60 to a level premium 75 or 100 plan Renewable to age 75 Plan choice for Low budget or fixed income clients Short term loan protection Young couples and students

20 A Plan to Suit Each Client Living Benefit 20 Offers leading 25 covered conditions Very competitive rates Guaranteed right to convert up to age 60 to a level premium 75 or 100 plan Renewable to age 75 Plan choice for CI mortgage coverage Small business protection Key Person Insurance Buy/Sell agreements

21 Mortgage Coverage Living Benefit Renewable With renewable critical illness coverage, mortgage coverage is more affordable and makes more sense for the short term of your home loan. Sample monthly rates for $100,000 of critical illness coverage for non-smokers Living Benefit 10 Living Benefit 20 Age Male Female Male Female 30 $ $ $ $ $ $ $ $ $ $ $ $ Information contained in this document is for illustrative purposes and is subject to change without notice. Refer to an up-to-date policy illustration for this plan for a current statement of benefits.

22 A Plan to Suit Each Client Living Benefit 75 Offers leading 25 covered conditions Excellent rates ROP on Surrender starting at the later of age 50, or 10 years, at 50%, increasing to 100% by age 75 Plan choice for Split-Dollar Arrangements Buy/Sell Funding Business Loan Protection * Based on a 40 year old. 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Return of Premium on Surrender for the Living Benefit 75 Percentage of ROPS Year 10 * Year 15 Year 20 Year 25 Year 30 Year 35

23 A Plan to Suit Each Client Living Benefit 100 Offers leading 25 covered conditions Excellent rates ROP on Surrender starting at year 10 at 50%, increasing to 100% by year 15 and thereafter Plan choice for Key Person Insurance Split-Dollar Arrangements Retirement Funding Executive Coverage 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Return of Premium on Surrender for the Living Benefit 100 Percentage of ROPS Year 10 Year 11 Year 12 Year 13 Year 14 Year 15

24 A Plan to Suit Each Client 15-Pay Living Benefit 100 Offers 24 covered conditions* Excellent rates ROP on Surrender starting at 100% at year 15 and thereafter Plan choice for Key Person Insurance Split-Dollar Arrangements Retirement Funding Executive Coverage * 15-Pay Living Benefit 100 does not include Loss of Independent Existence

25 Getting Started It s just that easy! Our application for Life Insurance also includes the application for Critical Illness. No need for supplementary health questionnaires. Also, remember that your clients can pay their first year annual premium, up to $50,000 with their MasterCard or VISA. Information contained in this document is for illustrative purposes and is subject to change without notice. Refer to an up-todate policy illustration for this plan for a current statement of benefits. Insurer: BMO Life Assurance Company. Registered trade-mark of Bank of Montreal, used under licence.

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