March 19, 2020

Our response to COVID-19

We’re here to help you take care of your financial needs.

If you have clients who are concerned about our strength, capitalization, our ability to serve our customers and our investment management strategy in response to COVID-19, we encourage you to share this comfort letter from our President and CEO Mark Sylvia. As events unfold, we will post any changes and updates to our current situation on our website at empire.ca/updates.

Comfort Letter

Read more about our response to COVID-19.

Market volatility: CIO Conference Call on March 19, 2020@4:00pm ET

For an update on the markets, join CIO Ian Hardacre, along with members of the Empire Life Investment team, to hear their insights on recent market volatility, the potential impact on economic activity around the world, and how the team is positioning to navigate these uncertain times.

Date: Thursday, March 19, 2020
Time: 4:00-5:00 pm ET
Toll-free number: 1-866-696-5894
Local dial-in number: 416-406-0743
Passcode: 4870952#

A replay and transcript will be made available the week following the CIO call.

More Pay at Issue options on the Fast & Full® App

Payment options on the Fast & Full Life App are now more flexible and convenient for situations when clients want to pay at issue. For those cases with an approved electronic health questionnaire (eHQ), “Pay at Issue” is now available when a temporary insurance agreement (TIA) is not selected.

Paying at issue through pre-authorized debit (PAD) is as simple, fast and easy as paying at approval. Remember to have the client’s banking information on hand to avoid delays.

Go to the Fast & Full Life App

Solution Series term rate decrease: better term for less!

Empire Life is pleased to announce that we are reducing premium rates on our popular and flexible Solution Series^® life insurance products. Now you can offer your clients the same great product, backed by Empire Life’s excellent service, at among the industry’s best rates!

The new rates, effective February 27, 2020, have overall average decreases for initial premiums of:

·        4% – Solution 10^®

·        5% – Solution 20^®

·        6% – Solution 30^®

These premium rate reductions place Empire Life in the top 5 rankings for over 99% of all age, premium bandings and gender scenarios¹.

See the Information Circular for details

Updated sales aids and marketing materials

¹ Expected premium rankings are based on the proposed new annual premiums for the first 10 years for Solution 10, for the first 20 years for Solution 20 and first 30 years for Solution 30 comparing the annual premiums quoted on LifeGuide on February 24, 2020 for the initial premiums of 23 other comparable 10-year, 23 other comparable 20-year and 20 other comparable 30-year renewable term products, for the gender, ages, coverage amounts and risk class shown.

Reminder: Empire Life now ordering Age and Amount requirements

Empire Life recently announced that we will now be responsible for ordering all age and amount requirements for life insurance applications submitted using the Fast & Full Life App or by paper. We want to remind you that this applies to both new business (form D-0082) and policy changes (form C-0048). Please refer to the Information Circulars and the FAQ for details.

Information Circular (paper)

Information Circular (F&F)

Frequently Asked Questions

Conversions of Trilogy Universal Life to Solution 100 with no additional underwriting requirements

Effective March 9, 2020, Empire Life will allow conversions of eligible in-force Trilogy Universal Life Insurance policies to Solution 100 policies with no additional underwriting requirements.

This will benefit existing Trilogy policyholders who want a permanent life insurance product with guaranteed premiums and guaranteed cash surrender values. 

Please see the Information Circular for more details.

Did you miss our latest CIO Conference Call on March 13, 2020?

Missed our CIO Conference Call "Navigating markets in uncertain times" or would you like to listen again? The replay is now available.

Go to replay.

Updated Information Folder and Contract Provisions

The Information Folder and Contract Provisions for Empire Life Guaranteed Investment Funds (INV-943) and Class Plus 3.0 (INV-1755) have been updated. Please destroy existing stock and reorder.

The updated Information Folder and Contract Provisions are available on our web site:

Empire Life GIF 75/75, GIF 75/100, GIF 100/100 (INV-943)

Class Plus 3.0 (INV-1755)

Replay available: Insurance strategies for a successful 2020

J. David Thomas, Director Advanced Sales and Marketing for Life Insurance, takes you through an informative overview of three popular insurance sales concepts to help build your business. The goal for the session is to demonstrate how these concepts can propel your business to the next level in 2020! CE credits offer expires May 31st, 2020.

Watch the replay

Saskatchewan Insurance Act and Regulation Changes – Recommendations (Sponsorship)

Effective January 1, 2020 Saskatchewan’s new Insurance Act and its regulations came into force which include new requirements for recommendations (sponsorship).

Please see the attached information circular for further details.

Empire Life reports fourth quarter and year-end results for 2019

We announced our fourth quarter and year-end earnings for 2019.

Read the news release.

Update on Stocks of Paper Applications

Empire Life is currently updating our Life and Health Insurance and Investment Applications.  Due to the changeover of the applications as well as an expected delay in printing due to some disruption in the printing market our current application stock levels are low. 

For our most current application versions, go to our Printable Applications page.