Empire Life’s Term Life Policies: Benefits for Large Families

Empire Life’s Term 10 is available to applicants aged 18 to 75; their Term 20 plans are available for those 18 to 65. The plans are available on an individual or joint life basis, and are guaranteed renewable to age 100—Empire Life is one of the few insurance companies to offer this renewable feature.

The plans also allow for a critical illness rider, accidental death benefit, children’s term rider, and children’s critical illness rider. The children’s critical illness rider covers all children over 10 months, including legally adopted and stepchildren, all for one monthly premium. This is an exceptional value for large families. This benefit covers 15 illnesses and up to $50,000 of coverage. The cost of this coverage is $10.80/month per $10,000 of coverage.

The term plans are available with face amounts as low as $25,000—this is a big plus for older applicants with a small temporary insurance need such as for a mortgage or line of credit.

On the downside, Empire Life does not offer preferred rates—applicants in very good health and with good family health history may be paying more than they would with other carriers.

Below are examples of Empire Life’s Term 10 rates at $250,000 of coverage:

Insured............Standard Rates:
35-yr male N/S:...$19.58/month
45-yr male N/S:...$35.33/month
55-yr male N/S:...$77.63/month