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Empire Life Critical Illness Insurance Review

by Mark Cluett
5 min read

Best Critical Illness Products for Couples

Empire Life

Empire Life

A

AM Best
financial strength rating

PolicyAdvisor.com Rating

Best Critical Illness Products for Couples

Empire Life

Empire Life

A

AM Best
financial strength rating

PolicyAdvisor.com Rating

Empire Life Critical Illness Insurance Review

With a well-rounded mix of terms and features included in their critical illness insurance plans, Empire Life provides a great, comprehensive product. They also offer what is called a multi-life policy. Couples can apply together for critical illness insurance and get a discount.

Pros

  • High coverage amounts available
  • Comprehensive: 25 conditions covered
  • Multi-life coverage available
  • Online access
  • Generous partial benefit payouts

Cons

  • No whole life coverage
  • No limited pay options
  • No Return of premium on death (ROPD)
  • No coverage for children
Product NameCI Protect and CI Protect Plus
Critical Illness coverageBasic and Enhanced Coverage
Available Terms10 years, 20 years, and to age 75
Limited Pay optionNone
Maximum coverageUp to $2-million
Conditions coveredEnhanced - 25 conditions
Loss of Independent Existence coverageYes
Partial payout conditions6 eligible conditions.
Partial payment or early detection paymentYes, 15% up to $50,000, payable up to two times
Childhood illnesses coverageNo
Survival period30 days
Return of Premium on deathNo
Return of Premium on expiry/cancellationYes
Second optionNo
Electronic applicationYes
Online account accessYes

Who is Empire Life?

Established in 1923, Empire Life is a relative youngster in the world of Canadian insurance. Don’t let youth fool you though, as Empire Life is now one of Canada’s top 10 insurers and amongst Forbes’ top Canadian employers. All while  following the mantra of CEO Mark Sylvia as quoted in their most recent annual report: “We sell money for future delivery when it is needed most.”

Does Empire Life sell critical illness insurance?

Yes. Empire Life’s critical illness insurance products are named CI Protect (basic coverage of 4 of the most common critical illnesses) and CI Protect Plus (enhanced coverage, 25 life-threatening conditions covered).

What critical illness insurance coverage and terms does Empire Life offer?

Empire Life’s maximum coverage for critical illness insurance is $2-million.

The covered conditions include coverage for loss of independent existence. The CI Protect Plus product from Empire Life offers partial payouts for 6 different conditions, and they can be claimed twice. The payout is typically 15% of the policy up to a maximum of $50,000.

The survival period (how long you must survive with the illness before you can collect your benefit) is 30 days.

Empire Life offers critical illness insurance for 10- and 20-year terms or coverage up to 75 years of age.

There are no limited-pay options available.

Does Empire Life critical illness insurance offer a return of premiums?

Empire Life does not offer a return of premiums on death, but they do offer a return of premium on expiry or cancellation of the policy.

How do I apply Empire Life’s for critical illness insurance?

You can apply for Empire Life’s critical illness insurance using the best online life insurance broker in Canada. You can enter your information and look up quotes using the button below or schedule a call with one of our licensed brokers to apply for Empire Life’s critical illness insurance.

The information above is a brief representative summary for indicative purposes only. It does not include all terms, conditions, limitations, exclusions, termination and other provisions of the policies described, some of which may be material to the policy selection. Please refer to the actual policy documents for complete details. In case of any discrepancy, the language in the actual policy documents will prevail. A.M. Best financial strength ratings displayed above are not a warranty of a company’s financial strength and ability to meet its obligations to policyholders.

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