This week, The Globe and Mail published an article* on Guaranteed Minimum Withdrawal Benefit products offered by insurers in Canada. Empire Life remains committed to the guaranteed income category as having some form of guaranteed income is an important part of many Canadians’ retirement income planning. These products continue to be in high demand and our Class Plus 3.0 product continues to be a leader in this space, featuring:
- 4% annual Income Base Bonus1 with income starting as early as age 55
- Lifetime Withdrawal Amount (LWA) payout rates for each age2, including a 4% LWA at age 65
- Lower insurance fees and total cost3
- Available in Fast & Full Investment App
- Death Benefit Guarantee4 and Income Base automatic resets every three years to lock-in market gains
- Potential for higher growth with up to 80% equity exposure
- Excess Withdrawal Alert service to safeguard clients’ guaranteed income
- Purchase options of Front End, Low Load, No Load, DSC and Fee For Service
If you would like to learn more about the article, talk to your Empire Life Account Executive. We’ve also provided an FAQ for you to use with your clients in case they have questions about the article, since it refers to the impact on our earnings in Q1.