Empire Life Critical Illness (CI) Review

Empire Life comes to the table is a good range of products. This includes a multi-life policy which is rare for Critical Illness policies. Let’s take a look.

Critical Illness Insurance Terms

Empire Life has 3 term lengths. Term 10, Term 20, and level to age 75. This lineup is fairly normal compare to other top critical illness companies in Canada.

Other Features 

Empire Life has a maximum coverage of $2,000,00 per insured. Because empire life has a multi-life option you could have a max of $2,000,000 per insured. Another option Empire life has is an early detection payout. Depending on your condition, you could receive $5,000 – $50,000 in payout to help with early medical bills.

Survival Period 

Empire life is right in the middle of all insurance companies with a 30 day survival period. Meaning from the time you are medically diagnosed with one of their 25 conditions you have to survive 30 days in order to receive the critical illness benefits. This again is very normal for the critical illness space.

Who is Empire Life best for?

Empire Life might be the right fit for a couple looking for CI. Empire Life has an easy application process for couples.

PROS

• High coverage amounts available (Max $2,000,000 of coverage per person)
• Comprehensive: 25 conditions covered (very common for the industry)
• Multi-life coverage available
• Generous partial benefit payouts (6 conditions that could have partial benefits paid)

CONS

• No whole life coverage (term 75 is as close as they get)
• No limited pay options
• No Return of premium on death (ROPD)
• No coverage for children