Empire Life Insurance Company policies

Pluses:
1. Their term plans are renewable to age 100.
2. The Universal Life policy has no surrender charges.

Minuses:
1. They do not offer a Term 30 plan.
2. They do not offer preferred rate on their term or permanent policies.

Back to Empire Life Insurance Company

Empire Life Insurance Company News

• Empire Life’s Insurance Policies

  11/17/2011

  Empire Life's insurance options fit nearly any situation. Photo by alex de carvalho Empire Life offers renewable and convertible Term policies as well as Non-Participating Whole Life policies and Universal Life plans. Empire life's Term 10 and Term 20 policies are convertible to age 75 and renewable to age 100. Both of these features are [...]

• Universal Life Rates Are Set to Go Up Again

  11/01/2011

  Low interest rates may provide opportunity for insurance shoppers. Photo by Colin The National Post, The Globe and Mail, and the Insurance and Investment Journal have all recently run stories on the upheaval taking place in the Canadian life insurance industry. Historically low interest rates are wreaking havoc on permanent Life policies in Canada. Manulife Financial [...]

• Why Low Interest Rates are Bad News for Canadian Life Insurance Companies

  10/31/2011

  Low interest rates hurts insurance selection and cost. Photo by Joshua Williams The Bank of Canada's overnight lending rate has remained at 1% since September 2010 in order to stimulate growth during the global economic downturn and rising risks, according to iPolitics. This is bad news for Canada's insurance industry. Insurance companies rely on interest from [...]

• Life Insurance Guaranteed Whole Life Policies

  08/29/2011

  Guaranteed Whole Life policies are fading, but some companies still offer them. Photo by Caroline Barberis Guaranteed whole life policies have been under pressure in recent months, as many life insurance companies in Canada have responded to historically low interest rates by either raising the rates on the guaranteed whole life insurance policies or removing [...]

• Why Are Whole Life Insurance Rates and Universal Life Rates Increasing in Canada?

  07/20/2011

  Universal Life rates are rising. Photo by wlodi Manulife Financial was the first major insurance company to raise its Universal Life Level Cost of Insurance rates. This has been followed by a slew of increases among other insurance carriers in Canada. Canada Life, RBC, BMO, and Industrial Alliance have all raised their Universal Life Level [...]

• Ask Our Experts Your Life Insurance Questions

  06/07/2011

  Our team can answer any question. LSM Insurance has been providing life insurance solutions to Canadians for just under 20 years. Our team of experts helps unravel the mystery of life insurance and answer questions like the following: How much life insurance do you need? What is the best type of life insurance plan? Which [...]

• Empire Life Releases its 2010 Year-End Financial results

  04/23/2011

  Empire Life Year-End Report Photo by Duckie Monster Empire Life has released its 2010 year-end financial results. “Our 2010 results reflect our steady commitment to growing and supporting our three lines of business, Wealth Management, Employee Benefits and Individual Insurance." said Les Herr, President and Chief Executive Officer. "As we’ve seen again this past year, [...]

• Empire Life’s Participating Whole Life Policy

  03/27/2011

  With so many investment options in Empire Life's participating whole life policy, your money is bound to grow. Photo by Duckie Monster Empire Life's flagship Participating Whole Life plan is Optimax III. The plan is available in both a Life-Pay and a 20-Pay option. It is a participating whole life policy, which means the plan [...]

• Who Hasn’t Raised Their Universal Life Rates?

  02/22/2011

  Whose universal insurance rates haven't soared? Photo by Phil Brown Which companies haven't raised their Universal Life rates? In the past few months, several of the leading life insurance companies in Canada have raised their universal life level-cost-of-insurance rates in response to historically low interest rates and reduced profitability. The list of companies that spiked [...]

• Critical Illness Providers: LSM’s Andrew Burdi Discusses the Secret Benefits.

  02/17/2011

  LSM insurance broker, Andrew Burdi was recently interviewed to discuss some of the little known benefits and unique features of Critical Illness providers in Canada. He listed some of those unique benefits to give  for or readers: 1. Manulife Insurance - Burdi revealed that Manulife offers a 10% advance on its Critical Illness policies, up [...]

• Empire Life’s Universal Life Policy Cost Increases

  01/26/2011

  A price increase will happen for Empire Life policyholders. Empire Life followed a recent announcement by Manulife, Canada Life, and Industrial Life that, effective February 14, 2011, their Universal Life cost of insurance rates will go up. To maintain a level cost-of-insurance structure, rates will experience a 6% increase on average. Some larger increases will [...]

• Whole Life Insurance for Women

  11/26/2010

  Don't worry, Whole Life insurance is less expensive for Women. Photo by Gabriele Fontana Women pay a much lower premium for Whole Life policies than men. The following looks at the top three carriers for $250,000 worth of Whole Life 20-Pay coverage, i.e. the insured is covered for life and the policy is paid-up after [...]

• Empire Life’s BeneFitPlus Employee Benefit Plan

  11/12/2010

  Empire Life has a new plan for your employees. Empire Life offers an employee benefit product, which is designed for Canadian businesses with between 20 to 50 employees. The plan is called “BeneFitPlus” and offers the following features: 1. Employee basic life insurance. 2. Employee accidental death and dismemberment insurance. 3. Employee optional life and [...]

• Empire Life – Critical Illness Policy – 10 Facts to Consider

  09/15/2010

  Empire Life's Vital Link may be a CI policy to consider. Photo by Robby McKee Empire Life's Critical Illness policy is called Vital Link. The policy is very competitively priced at most age levels and face amounts. The following are 10 features of the plan: 1. It's available throughout Canada. 2. It's available as a [...]

• Term Insurance versus Permanent Insurance

  09/08/2010

  Learn the difference between Term and Permanent insurance for your family's sake. Term insurance policies offer premiums level for a stated term, as opposed to permanent insurance policies, which offer premiums level for the insured's lifetime. The following are additional differences between Term and Permanent life insurance policies. Term life policies: 1. Most Term policies [...]

• Empire Life’s Term 100 Policy

  08/25/2010

    Empire Life Term 100 policies are available with or without cash values. These are some additional features of the policy: * It is available throughout Canada. * Issuing ages are 0 to 85. * It Uses age nearest pricing * The policy fee on the plan is $60.00 per year, but if the insured [...]

• Six Great Life Insurance Deals

  06/20/2010

  Save money with the best life insurance deals Quite often people are presented with "Can't Miss Deals." Life insurance is generally not thought of as one of those opportunities, but those deals are out there. Don't believe us? Just take a look at these six life insurance deals: 1. Manulife's Children's Term Rider. Manulife's Children's [...]

• A.M. Best Ratings for 2009-2010

  04/23/2010

  Most credit scores of insurance companies are stable Photo by Balazs Gal A.M. Best is a credit rating company for the insurance and banking sectors. Consumers use it to assess the financial strength and credit worthiness of their lending institutions. The following are the ratings for March 2010 and the fourth quarter of 2009: AM [...]

• Life Insurance Policy Fees

  04/02/2010

  Don't let policy fees nickel and dime you by Garry Knight Life insurance policy fees are a built-in fee, which covers the administration of the policy. The fee is hidden within the premium, but can be found with the policy document. The following is a summary of term 10 policy fees charged by Canadian insures. [...]

• Best Term 100 Life Insurance Plans in Canada

  03/31/2010

  find out rates for a 50-year-old, male non-smoker. Photo by Luciano Meirelles Term 100 life insurance is essentially a stripped-down form of whole life insurance. The premiums are level for life and the policy provides lifetime protection. Unlike whole life policies, there are generally no cash values that build within the plan. This generally translates [...]

• Life Insurance and the Terminal Illness Benefit

  03/19/2010

  End up here? Get an advance on your life policy Most Canadian Life Insurance companies offer a Terminal Illness Benefit, which pays out a lump sum payout as an advance on the insured's life insurance policy if he or she is diagnosed by a physician as having less than one, or sometimes two, years to [...]

• Empire Life’s Insured Annuity

  03/14/2010

  Make sure your investments only go one direction. Photo by Balazs Gal Empire Life has launched its own Insured annuity designed to provide an alternative to regular, low fixed income investments. An insured annuity is designed to provide a tax-efficient, lifetime income and preserves or increases the money available to your estate. Simply, the annuity [...]

• The Best Whole Life Insurance Plans in Canada

  03/07/2010

  The best Whole Life policies for your family Credit: tldagny As the name describes, whole life insurance provides for the insured's entire lifetime. The policies can generally be broken down into two types: Participating Whole Life policies participate in the insurance company's profits. These plans provide level premiums and lifetime protection, but also have a [...]

• Empire Life Announces Enhancements to Class Plus Plans

  01/21/2010

  As of December 31, 2009, Empire Life has introduced additions to its Class Plus investment product. The first being the extension of the bonus period past the first 15 years to the lifetime of the annuity. Now, you will be able to receive a 5% annual income base bonus every year as long as no [...]

• Canada’s Best Universal Life Policies

  12/11/2009

  
  What company has the best
  Universal life offering in Canada?
  photo by Frank Steele

  "You wanted the best, you got the best" is not just a line that works for rock 'n' roll, but Universal Life insurance as well. The following is a list of Canada's top Universal Life policies for a 40-year-old female, 40-year-old male non-smoker, and a 40-year-old female non-smoker at coverage amounts of $250,000.00, with a level cost of insurance option.

  Universal life policies are available with either an increasing cost of insurance option, or a level cost option. The level cost option guarantees the cost of insurance will remained fixed for life.

  Key advantages for each company:

• Whole Life Insurance for Children: A detailed look at Canadian Insurance Companies

  12/11/2009

  
  Insure your kids early,
  set them up for life.
  Photograph by Lars Plougmann

  Whole Life insurance can provide a valuable option for individuals looking for lifetime protection, fixed premiums and a tax sheltered savings component.

  Participating Whole Life policies allow the insured to participate in the profits of the insurance company. By taking out a policy on a child, the insurance can benefit in the following three ways:

• Whole Life Insurance Policies in Canada: A Comparative Analysis

  12/10/2009

  
  Whole life insurance options
  can be overwhelming
  —we break it down for you.
  by David Goehring

  Whole Life insurance policies can be broken down into two types:

  Non-participating Fully guaranteed contracts and the plans do not participate in the companies profits.
  
  Participating Whole Life Policies Offer policy guarantees, but in addition, allow the applicant to participate in the profits of the insurance company.
  
  Whole Life policies They've gained a resurgence in popularity in Canada over recent years, as consumers are becoming more concerned with market volatility.

• Empire Life’s Optimax III

  04/24/2009

  Empire Life's Optimax III is product is capitalizing on Canadians renewed enthusiasm for simple guaranteed life insurance products. Whole Life sales as reported by Limra International were up by 13% in 2008. Optimax is a traditional Whole Life plan available on a Single, Multi-Life or Joint Life basis. Face Amounts can be as low as [...]

• Empire Decreases Optimax Rates

  08/25/2008

  Empire Life announced that effective August 25, 2008 they will significantly decrease the rates on their Optimax Participating Whole Life plan.

• No more Plus with Empire Life’s Vital Link

  07/07/2008

  Effective July 7, 2008, the Vital Link Basic plan (three illnesses) will no longer be for sale and the name “Vital Link Plus” will become simply “Vital Link.” The Vital Link definitions for 22 of the 23 insured conditions will reflect new industry benchmark definitions. Lorne’s comments This is a good news–bad news scenario. Empire [...]