BMO Insurance is changing its Guaranteed Investment Funds, which are segregated funds.
One new feature is the death guarantee reset option, which secures market gains and increases the death guarantee for beneficiaries. For a fee, the option will allow for death guarantee resets every three years on the policy anniversary, up to and including the last policy anniversary before the annuitant’s 75th birthday.
Other new features:
– The option to put BMO GIF investments in registered and locked-in savings and retirement income plans, and TFSAs.
– Access to a class of funds with lower management fees when the total investment by family members living at the same address is $250,000 or more.