Life Insurance: Empire Records' Employee Benefits Explored

Life insurance is a crucial aspect of financial planning, and Empire Life, a Canadian company, offers a wide range of life insurance products to meet diverse needs. From term life insurance to permanent coverage, Empire Life has built a strong reputation in the industry, even being named the best Canadian life insurance company four times. With a user-friendly application process and a commitment to customer service, Empire Life stands out for its variety of group insurance plans and competitively priced term life insurance policies. This overview introduces Empire Life and highlights its range of insurance offerings, including their unique features and benefits, such as multi-life policies and annual renewable term (ART) life insurance. Understanding life insurance options is essential for individuals and families seeking financial security and peace of mind.

What types of life insurance does Empire offer?

Empire offers a wide range of life insurance products, including term, whole-life, no medical, and participating policy options. They also offer group insurance plans for companies and individuals. Here is a more detailed breakdown of the types of life insurance offered by Empire:

• Term Life Insurance: Empire offers term life insurance policies with term lengths of 10, 15, 20, 25, and 30 years. These policies provide coverage for a specific period, and the premiums are guaranteed for the entire initial term. The Solution Series is Empire's brand name for its term life insurance products, with different plans tailored to the needs of new families, business owners, and individuals with personal debts.
• Whole Life Insurance: Empire provides whole life insurance, also known as permanent life insurance, which offers coverage for an individual's entire life. This type of policy includes guaranteed cash surrender annuities starting at year 10 and allows for additional insurance policies and riders to personalize coverage.
• No Medical Life Insurance: Empire has a simplified life insurance policy called Guaranteed Life Protect, which does not require individuals to answer any medical questions. This type of plan is ideal for those who might not be in the best health but still need temporary coverage.
• Participating Life Insurance: Participating life insurance allows policyholders to make a profit through their payments. Empire offers two types:

• EstateMax: This policy provides guaranteed annual dividends with five dividend options. Coverage amounts range from $25,000 to $10,000,000, and there are four payment options with different guarantee periods.
• WealthMax: This policy is focused on short-term cash value growth, making it ideal for those seeking wealth growth within a shorter time frame. It offers guaranteed dividends above zero, and coverage amounts range from $25,000 to $10,000,000.

Group Insurance: Empire is well-known for its group insurance plans, offering a variety of options for companies. These plans can include life and critical illness coverage and are designed to provide financial security for employees.

Overall, Empire presents a diverse selection of life insurance products to cater to varying customer needs, budgets, and preferences. Their plans are designed to be flexible, allowing individuals to customize their coverage and create personalized insurance strategies.

How do I make a claim?

To make a claim on an individual life insurance or investment policy, the first step is to determine if you are eligible for an Express Claim. Many individual investment policies are eligible as Express Claims. For individual life claims, if your claim is less than $50,000 and the policy has been "in-force" for more than 10 years, there is no need to submit any forms, and your claim processing can be expedited.

Next, call 1 800 561-1268 or 1 613 548-1881 to start the claim process. Having the following information ready will allow the customer service team to better assist you with your claim:

Whether or not you are eligible for expedited processing (Express Claims)

You will then be sent a claim form or instructed on which form to complete, if necessary. The forms can be sent via email, mail, or fax. If you prefer, you can send your completed claim forms to the servicing advisor so they can forward them to Empire Life on your behalf. If you do not know who the servicing advisor is, you can call customer service.

Once the forms have been received and reviewed, Empire Life may contact you for additional information. If your claim is approved, you will have the option of receiving the claim by cheque or having the funds deposited into your bank account. This option may not be available for all claims.

How do I pay for my policy?

Empire Life accepts credit, debit, cheque, PayPal or online payments for the initial premium. For payment of other premiums once a policy is in force, the following payment methods are accepted: cheque, telephone banking, online payment or pre-authorized debit.

To make an online payment via your financial institution for your individual policy premium, use the following information:

• Payee: Empire Life Individual
• Account number: [InsertPolicyNumber]
• Amount: $ [InsertDollarAmount]

Your payment will be received in two business days. If you have any further questions, please contact the Empire Life Customer Service Team at 1-800-561-1268.

It's important to note that Empire Life does not accept credit card payments for either monthly or annual premium payments. However, you can pay your insurance premiums on a monthly or annual basis. Annual payments will result in a discount compared to paying monthly.

How do I find out who my servicing advisor is?

If you need to find out who your servicing advisor is, you can do so by checking your policy details online. If you have a Solution Term Life Insurance policy issued after 2017, you can view your advisor's name and contact information by logging into your MyEmpireTM account. Similarly, for Whole Life and Universal Life Insurance policies, you can access this information through your MyEmpireTM account.

If you have another type of policy, you can contact the Empire Life customer service team for assistance. Their phone number is 1-800-561-1268, and they can be reached Monday to Friday, from 8:00 a.m. to 8:00 p.m. EST for English inquiries, and 8:00 a.m. to 5:00 p.m. EST for French inquiries. Alternatively, you can send an email to [email protected] for English inquiries or [email protected] for French inquiries.

Additionally, if you are a beneficiary or the executor of an estate and need to make a claim on an individual life insurance or investment policy, you can call Empire Life's customer service team at 1-800-561-1268 or 1-613-548-1881 to start the claim process and inquire about your servicing advisor.

What is the history of Empire Life?

The Empire Life Insurance Company, commonly known as Empire Life, is a Canadian life insurance and financial services company. It was founded in 1923 by Milton Palmer Langstaff in Toronto, Ontario, and has since grown to become one of the top 10 life insurance companies in Canada.

In its early years, Empire Life underwent several mergers and acquisitions. In 1929, it merged with The Commonwealth Life and Accident Insurance Company. This was followed by the acquisition of The Canadian Order of Odd Fellows insurance portfolio in 1934, and a merger with the Mutual Relief Life Insurance Company in 1936, which led to the relocation of the company's head office from Toronto to Kingston, Ontario.

In 1968, E-L Financial Corporation Limited acquired a significant portion of Empire Life's shares, further solidifying its presence in the industry. Over the years, Empire Life continued to expand through various acquisitions and amalgamations, including with companies like The Montreal Life Insurance Company, The Dominion of Canada General Insurance Company, and Concordia Life Insurance Company.

Empire Life has also diversified its offerings beyond life insurance. In 2011, it launched Empire Life Investments Inc., a Canadian investment management company. This expansion into the financial services sector has contributed to the company's growth and success.

Today, Empire Life remains a prominent player in the Canadian market, known for its commitment to customer service, digital innovation, and community involvement through charitable initiatives. The company's history reflects a journey of growth, adaptation, and a dedication to serving the financial and insurance needs of Canadians.

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