Empire Life Insurance Company

Life Insurance Claim Experience compared: RBC Insurance vs. Manulife vs. Empire Life

A personal story by Michael Mlotek In May 2019, my mother Helen Mlotek passed away. Being an independent insurance broker, I have done many death claims but this one was emotional. I had to deal with three insurance companies: RBC, Manulife, and Empire Life. The following is my experience. RBC The people at RBC were...
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Top 10 Canadian Life Insurance Companies 2014

Last year, based on findings from Financial Post Business Magazine in June 2014, LSM Insurance is releasing its list of The Top 10 Life Insurance Companies for 2014. Not much has changed from last year. Great West-Life Co. still has the top spot, followed by Manulife Financial, Sun Life, and Industrial Alliance in the top...
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20-Pay Whole Life Insurance

Whole life’s 43% market share is significantly higher than universal life’s 28% and, in a lot of cases, it’s participating whole life’s investment component that consumers are attracted to. Participating whole life gives consumers an investment opportunity to “participate” in the profits of the sponsoring insurance company. For example, Sun Life Financial reports that they...
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Life Insurance For People Over 50

People over 50 are most at risk for bankruptcy. According to a study conducted by bankruptcy trustees Hoyes, Michalos & Associates, those Canadians age 50 to 59 are the most at risk for bankruptcy. Their debts — including credit cards, personal loans and other forms not backed by assets — exceeded $84,000. However, with rising debt loads,...
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The Future of Whole Life Insurance

Life insurance companies in Canada have been under increasing pressure thanks to historically low interest rates. However, the Toronto Star reports that these low interest rates may soon disappear. Low interest rates are generally bad news for banks and insurance companies, as they begin to invest your premiums and deposits in long-term bonds and other guaranteed investment vehicles...
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Empire Life’s 50% Off Summer Sale

Summertime means a summer sale at Empire Life. From July 2 until August 30, 2013, the insurance company is reducing its annual policy fee to $30 on all new Solution Series insurance plans. Eligible plans include Solution 10, Solution 20, Solution 100, and Hybrid Solution 100. LSM’s Take: This sale will have a bigger impact on smaller...
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Group Insurance in Canada: Top 6 Carriers

Canada’s top group insurance providers can help your employees. Statistics Canada says that almost three-quarters of all Canadian workers (74 per cent) have access to at least one non-wage benefit. Health benefits plans are the most common type of non-wage benefit in Canada. Fifty-nine percent of workers have life and disability insurance, 56 per cent...
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How Rising Interest Rates Could Lower Your Life Insurance Premium

Empire Life has come out with a unique Hybrid Life Insurance policy that will allow Canadians to benefit when interest rates finally rise from their historical lows. The plan is called Hybrid Solution 100, and it offers the following benefits:
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Why Whole Life Dividends will Continue to Decrease

Whole Life Insurance can be broken down into two categories: participating and non-participating. Non-participating whole life policies generally offer guaranteed premiums, guaranteed cash value, and guaranteed coverage. Non-participating whole life policies, on the other hand, do not generate a dividend.
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Term Life Insurance: Which Companies Offer Preferred Rates?

Preferred rates are offered to individuals who are in very good health who have exemplary family health history. Preferred rates can lower insurance premiums by up to 35 per cent. You can find more details on whether you are likely to qualify for preferred rates here. The following is a listing of the leading life insurance...
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