Empire strikes back with a universal Trilogy

Empire Life’s universal life plan, branded “Trilogy,” is one of the most flexible universal life plans in the industry. The policy allows you to cover up to five individuals under one policy—and with the average universal life policy fee at about $90 per year, this can add up to significant savings over the life of the policy.

Empire’s Trilogy plan is available to individuals from birth to age 85, and with face amounts as low as $10,000. The lower face amounts can be an attractive feature for seniors on a tight budget looking to cover final expenses. The plan has variety of investments options, including seven different guaranteed interest accounts and 23 index options.

A critical illness rider covering 21 illnesses, including loss of independence, is available. A unique feature is that the critical illness rider is available as an advance or an additional payout. The critical illness advance pays out all claims as an advance against the death benefit, but the cost is much lower; the critical illness addition pays out any claims separately and does not limit the death benefit in any way. Other optional riders include accidental death and dismemberment, disability waiver of premium, a children’s life rider, and a guaranteed insurability rider.

Similar to their term plans, Empire Life’s Trilogy plan does not offer preferred rates—so those in very good health and with good family health history may be paying more than they would with other insurance companies (although the number of carriers offering preferred rates on universal life insurance is far more limited than term insurance, and the discounts are much less significant).

The cost for a 45-year-old male non-smoker who applies for $250,000 of universal life level cost coverage would pay a minimum premium (i.e., the premium to keep the plan in force) would be $170.71 per month.

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