(Kingston, Ontario – November 20, 2018) The Empire Life Insurance Company (Empire Life) (TSX: EML.PR.A) announces the launch of Guaranteed Life Protect, a new guaranteed issue life insurance product that provides guaranteed, lifetime coverage with no health or lifestyle questions asked.
“Guaranteed issue life insurance has broad appeal across a number of key consumer segments in the Canadian marketplace,” said Mike Stocks, Vice President and Chief Marketing Officer, Retail. “While we know it will be attractive to consumers looking to cover final expenses who may have been turned down for coverage in the past, we believe Guaranteed Life Protect will also appeal to consumers who value convenience and speed.”
Unlike many guaranteed life insurance products available in Canada today, Guaranteed Life Protect from Empire Life offers coverage of up to $50,000 (depending on age), while also providing features normally associated with fully underwritten coverage, such as cash surrender value, reduced paid-up values and guaranteed level premiums.
“Our clients and advisors rely on us to be simple, fast and easy,” said Mr. Stocks. “Guaranteed Life Protect greatly enhances that promise. Whether purchased online, or with its simple application, getting important coverage has never been simpler, faster or easier.”
About Empire Life
Established in 1923 and a subsidiary of E-L Financial Corporation Limited, Empire Life provides individual and group life and health insurance, investment and retirement products to Canadians. Our mission is to make it simple, fast and easy for Canadians to get the investment, insurance and group benefits coverage they need to build wealth, generate income, and achieve financial security. As of September 30, 2018 Empire Life had total assets under management of $17.2 billion. Follow Empire Life on Twitter @EmpireLife or visit www.empire.ca for more information.