Kingston, ON – April 26, 2017) – The Empire Life Insurance Company (“Empire Life”) (TSX: EML.PR.A ) today reported first quarter common shareholders’ net income of $50.2 million for 2017, compared to $37.2 million for 2016.
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|Favourite||C-0056-EN||Financial Changes Request For Life And Health Policies||Download|
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Starting January 1, 2017, rules related to the taxation of life insurance in Canada will change. These new rules will have an impact on all life insurance plans issued after 2016, including prescribed annuities.
We are pleased to announce that we have made some changes to our Term Certain annuities so more clients can take advantage of the Annuity-Funded Life Insurance Strategy we introduced earlier this year.
Our new Annuity Settlement Option with innovative income payment features allows your clients to customize any combination of lump sum and annuity income payments for their beneficiaries.
Effective January 2, 2014, we will allow customers to convert Solution 10 coverage and Trilogy® or Trilogy Plus plans with 10-year renewable term cost of insurance (10YRT) to a similar 20-year coverage within five years of the effective date of the coverage.