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- Empire Life offers Solution ART and 10, 15, 20, 25, and 30-year term plans to suit a wide range of coverage needs
- You can bundle multiple term lengths under a single policy, helping reduce costs by paying only one policy fee
- The term insurance coverage starts at $25,000 and goes up to $20 million on eligible Solution Series plans
- Optional riders and built-in features like the term exchange privilege, term conversion with carry-over, and living benefit advance provide added flexibility and protection
Empire Life offers a versatile range of term life insurance solutions through its Solution Series, including Solution ART, Solution 10, Solution 20, Solution 25, and Solution 30. Whether you need affordable annual renewable coverage or a longer level-term policy, Empire Life provides flexible options with built-in features such as term exchange and term conversion. The cost of an Empire Life term insurance policy starts at $7.74 per month and can go up to $150.84 per month, depending on factors such as your age, health, smoking status, coverage amount, and selected term.
Quick review
- PolicyAdvisor ratings: 5/5
- Best for: Bundling multiple term lengths under one policy
- Skip if: You want built-in wellness rewards
About Empire Life
Founded in 1923, Empire Life is one of Canada’s top 10 life insurance companies, offering life insurance, investment products, and employee benefits to individuals, families, and businesses. Headquartered in Kingston, Ontario, the company is known for its strong financial strength, personalized service, and flexible plans. Empire Life serves millions of customers across Canada and is a member of Assuris, which protects eligible Canadian policyholders if an insurer fails.
Empire Life’s financial strength
| AM Best Rating | A |
| Insurance Revenue | $1.4 billion |
| LICAT Ratio | 150% |
| Total assets | $20.8 billion |
What is Empire Life term life insurance?
Empire Life term life insurance provides flexible financial protection for a specific period through its Solution Series. You can choose from Solution ART (annual renewable term), Solution 10, Solution 15, Solution 20, Solution 25, and Solution 30, depending on your budget and how long you need coverage. All Solution Series plans are renewable and convertible to eligible permanent life insurance products without additional medical underwriting, making them suitable for protecting mortgages, family income, business obligations, and other temporary financial responsibilities.
The coverage starts at $25,000, with Solution ART offering up to $499,999, and all other Solution Series plans offer up to $20 million in coverage. Unlike many traditional term life insurance policies, Solution Series coverage can continue for life through guaranteed renewals, if premiums continue to be paid. After the policy anniversary nearest age 100, no further premiums are required.
Key features of Empire Life term policy:
| Available terms | Solution ART, Solution 10, Solution 15, Solution 20, Solution 25, and Solution 30 |
| Policy issue age (min & max) |
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| Coverage duration | Lifetime coverage, fully paid up at the policy anniversary nearest to age 100 |
| Coverage range |
Note: Applicants aged 66 and older can apply for coverage starting at $10,000 |
| Renewability |
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| Term exchange | Exchange a shorter term (Solution ART, 10, 15, or 20) for a term at least 10 years longer within the first seven policy years |
| Convertibility | Convertible to eligible Empire Life permanent whole life plan without additional medical evidence, up to conversion expiry (anniversary nearest to age 75) |
| Coverage structures |
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| Living benefit advance | Up to 50% of the death benefit (maximum $50,000) may be available if the insured is diagnosed with a terminal illness and has a life expectancy of 12 months or less |
| Riders |
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Who is eligible for Empire Life term life insurance?
To qualify for Empire Life term life insurance, you must meet the insurer’s age, coverage, and underwriting requirements. Eligibility varies slightly depending on the Solution Series plan you choose.
- Solution ART: Ages 18-65
- Solution 10: Ages 18-75
- Solution 15: Ages 18- 70
- Solution 20: Ages 18-65
- Solution 25: Ages 18-60
- Solution 30: Ages 18-55
- Coverage starts at: $25,000 (applicants aged 66 and older may qualify for coverage starting at $10,000 on eligible plans)
- Coverage types: Single life, joint first-to-die, joint last-to-die, and multi-life
- Underwriting: You must satisfy Empire Life’s underwriting requirements, with Preferred and Elite premium classes available on eligible policies with coverage amounts of $1,000,001 or more, subject to underwriting requirements
Types of Empire Life term life insurance plans
Empire Life offers two types of term life insurance under its Solution Series: Solution ART and level term insurance (10, 15, 20, 25 & 30 term lengths). Each option is designed to meet different protection needs, depending on how long you need coverage.
- Solution ART: Solution ART is an annual renewable term life insurance plan that offers lower initial premiums for short-term protection. The premiums remain level for the first three years, then increase annually until age 85, after which they remain level until the policy is fully paid up at the policy anniversary nearest to age 100. It is well suited for those expecting their insurance needs to change over time or planning to convert to permanent coverage later
- Solution 10, 15, 20, 25 & 30: Empire Life’s level term plans provide guaranteed level premiums for the initial term you select. Solution 10, Solution 15, and Solution 20 renew for the same term length after the initial term, while Solution 25 and Solution 30 renew annually after their initial term. All plans are renewable and convertible to eligible permanent life insurance without additional medical underwriting. These level term plans are most suited for longer-term financial commitments such as mortgages, raising a family, or business protection
What is covered under Empire Life term insurance?
Empire Life term insurance provides a tax-free lump-sum death benefit to your chosen beneficiaries if you pass away while the policy is in force. The payout can be used for any purpose, helping your family maintain financial stability during a difficult time.
The policy can help cover:
- Income replacement to support your family’s everyday living expenses
- Mortgage and debt repayment, including personal loans and lines of credit
- Education costs for your children or dependents
- Business obligations, such as business, buy-sell agreements, or key person protection
- Final expenses
Empire Life term insurance plan also includes a Living Benefit Advance, which may provide up to 50% of the death benefit (maximum $50,000) if you are diagnosed with a terminal illness with a life expectancy of 12 months or less. This allows access to a portion of the death benefit when it may be needed most.
Pros and cons of Empire Life term life insurance
| Pros | Cons |
| Offers a wide range of term options, including Solution ART, 10, 15, 20, 25, and 30-year plans | No built-in wellness or rewards program |
| Ability to bundle multiple term lengths under one policy while paying a single policy fee | Solution ART premiums increase annually after the first three years |
| High coverage limits of up to $20 million on eligible Solution Series plans | |
| Includes a non-contractual living benefit advance for eligible terminal illness cases | |
| Fast, digital underwriting process |
How much does Empire Life term insurance cost?
Empire Life term life insurance costs for $100,000 coverage and a 10-year term start at $7.74 per month for a 20-year-old female non-smoker and $9.45 per month for a 20-year-old male non-smoker. The actual premium cost may, however, increase based on your age, health history, smoking status, and chosen coverage.
Cost of Empire Life term life insurance (2026)
| Age (in years) | Male (non-smoker) | Female (non-smoker) |
| 20 | $9.45/month | $7.74/month |
| 30 | $9.90/month | $8.19/month |
| 40 | $10.89/month | $10.08/month |
| 50 | $18.99/month | $15.75/month |
| 60 | $48.96/month | $36.36/month |
| 70 | $150.84/month | $104.04/month |
*Illustrative monthly term life insurance cost for male and female non-smoker seeking $100,000 in coverage for 10-year term
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What riders are available with Empire Life insurance?
The rider options available with Empire Life term insurance are waiver of premium, payor waiver of premium, guaranteed insurability, accidental death and dismemberment, children’s life rider, and children’s critical illness rider.
- Waiver of premium rider: If you become totally disabled and meet the policy conditions, Empire Life will waive your future premium payments while keeping your coverage in force. This rider is available if you are aged between 18 and 55 years
- Guaranteed insurability rider: This rider allows you to increase your life insurance coverage on specified future dates without providing additional medical evidence. It is available for those aged 18 to 40, with coverage increases ranging from $5,000 to the lesser of $50,000 or your total sum insured
- Accidental death & dismemberment (AD&D) rider: The AD&D rider pays an additional benefit if you die or suffer certain serious injuries due to a covered accident. It can be purchased by those aged 18 to 55; coverage starts at $10,000 and is available up to the lesser of $250,000 or the total sum insured
- Children’s life rider: This family rider provides life insurance coverage for all eligible children, including future children once they reach 15 days old. It is applicable for children aged 15 days to 17 years; it offers coverage between $1,000 and $25,000
- Children’s critical illness rider: This family rider provides a lump-sum benefit if an eligible child is diagnosed with one of 15 covered critical illnesses. It covers all eligible children from 30 days old
What is the living benefit advance in Empire Life insurance?
The living benefit advance is a non-contractual benefit offered by Empire Life on eligible life insurance policies. If the insured is diagnosed with a terminal illness and has a life expectancy of 12 months or less, Empire Life may approve an advance payment of up to 50% of the policy’s death benefit, to a maximum of $50,000. The amount paid, along with any applicable interest, is deducted from the death benefit that is later paid to the beneficiaries. Approval is determined on a case-by-case basis.
What is bundling of coverage in Empire Life term policy?
Empire Life allows you to bundle multiple term coverages under a single Solution Series policy, so you can combine different term lengths to match your changing financial needs.
For example, you might purchase:
- $500,000 of 20-year term insurance to cover your mortgage
- $500,000 of 30-year term insurance to replace your family’s income
For the first 20 years, your total coverage would be $1 million. Once the mortgage is paid off, the 20-year coverage ends, leaving you with $500,000 of coverage for the remaining 10 years.
Bundling multiple coverages under one policy can be more cost-effective than purchasing separate policies because only one policy fee applies, reducing overall costs and simplifying policy management. It also gives you the flexibility to maintain different levels of coverage as your financial obligations change over time.
What is term exchange privilege in Empire Life term policy?
Empire Life’s built-in exchange privilege allows eligible policyholders to exchange a shorter term policy for a longer term policy without providing additional medical evidence. The eligible originating coverages are Solution ART, Solution 10, Solution 15, and Solution 20 and can only be exercised once per coverage.
To qualify, the exchange request must be made before the 7th policy anniversary, the insured must meet the issue age requirements for the new plan, and the new policy must have a term that is at least 10 years longer than the existing one.
Premium rates for the new coverage are calculated using the life insured’s age nearest to the time of the exchange, the rates in effect at that time, and any insurance ratings from the original policy. The new coverage amount can be the same as or lower than the current coverage amount, and because the exchange is treated as a continuation of coverage, the suicide and incontestability periods do not restart.
How does Empire Life term life insurance compare to other providers?
Empire Life stands out for its Solution Series, which includes Solution ART (annual renewable term) and level term options ranging from 10 to 30 years. It also offers flexible features such as bundling multiple term lengths under one policy, a built-in Term Exchange Privilege, a fast underwriting process, and the option to convert eligible policies to permanent life insurance without additional medical evidence. These features make it a strong choice for Canadians seeking customizable, long-term coverage that can adapt to changing financial needs. You can also read our guide on best term life insurance companies in Canada to compare the leading providers.
Our advisor’s take on Empire Life term insurance
One of our advisors recently worked with a 40-year-old homeowner who wanted affordable life insurance to protect a new mortgage while ensuring the flexibility to extend or convert coverage as their financial needs changed over time.
Client profile:
- Age: 40-year-old non-smoking Canadian
- Coverage need: $1 million to protect mortgage, replace income, and support young children
- Primary concern: Flexible term coverage that could adapt to changing financial responsibilities without requiring another medical exam
- Our comparison: We compared Empire Life’s Solution Series with leading Canadian term life insurers based on premium competitiveness, coverage flexibility, renewal and conversion options, riders, and long-term value. Empire Life stood out for its ability to bundle multiple term lengths under a single policy, along with unique features like the term exchange privilege
Why we recommended Empire Life term insurance:
- Offers Solution ART along with 10, 15, 20, 25, and 30-year level term options to suit different protection needs
- Allows multiple term lengths to be bundled under one policy while charging a single policy fee, helping reduce overall costs
- Provides guaranteed renewability, conversion to eligible permanent life insurance, and optional riders such as waiver of premium, guaranteed insurability, accidental death & dismemberment, children’s life, and children’s critical illness, making it easy to customize coverage as life changes
How to buy Empire Life term life insurance?
To buy Empire Life term insurance with PolicyAdvisor, here are the steps you need to follow:
- Our licensed advisors will help you compare Empire Life quotes alongside Canada’s leading life insurance providers to help you find the best value for your needs
- We assess your budget, financial goals, and coverage requirements to recommend the most suitable Empire Life Solution Series policy
- Our advisors will guide you through the application process, help you gather the required documents, and assist with any medical underwriting requirements
- Once your application is approved, our advisors will review your coverage, answer any final questions, and ensure your Empire Life policy is issued smoothly
Ready to get started? Book a free consultation with a PolicyAdvisor expert today and get an Empire Life insurance quote.
Need insurance answers now?
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Frequently asked questions
Is Empire Life insurance convertible?
Yes, eligible Empire Life Solution term policies can be converted to eligible Empire Life permanent life insurance products, including EstateMax or Optimax. There is no medical underwriting required to convert to permanent options. The conversion option is available until age 75.
How much does life insurance from Empire Life cost?
The cost of Empire Life life insurance depends on factors including the insured’s age and lifestyle, coverage amount, and policy term. Typically, the cost for an Empire Life term insurance ranges between $7.74/month and $151/month for non-smokers purchasing $100,000 of 10-year term life insurance coverage.
What is the difference between Solution ART and Solution 20?
Solution ART is an annual renewable term plan with premiums that remain level for the first three years before increasing annually. Solution 20 offers guaranteed level premiums for 20 years, making it a better choice if you want predictable long-term costs.
Can I combine multiple term lengths under one Empire Life policy?
Yes, you can combine multiple term lengths under one Empire Life term policy. Empire Life lets you bundle multiple Solution Series term coverages under a single policy. This allows you to match different financial obligations with different coverage periods while paying only one policy fee.
Does Empire Life offer a living benefit advance?
Yes, Empire Life offers a Living Benefit Advance. It is a non-contractual benefit that may provide up to 50% of the death benefit (maximum $50,000) if the insured is diagnosed with a terminal illness and has a life expectancy of 12 months or less. Approval is determined on a case-by-case basis. Any amount paid, along with applicable interest, is deducted from the death benefit payable to the beneficiaries.
Can I exchange my Empire Life term policy for a longer term?
Yes, you can exchange your Empire Life term policy for a longer term. You can use Empire Life’s term exchange privilege to exchange your existing term policy for a longer-term plan without providing new medical evidence. To qualify, the request must generally be made before the 7th policy anniversary, and the new term must be at least 10 years longer than the current coverage. The insured must also meet the issue age requirements for the new plan, and the new coverage amount must be equal to or lower than the current coverage amount.
Empire Life term life insurance offers flexible protection through its Solution Series, including Solution ART and level terms of 10, 15, 20, 25, and 30 years. With renewable and convertible coverage, bundled term options, coverage up to $20 million, and features like the term exchange privilege and carry-over conversion, it is a strong choice for Canadians seeking customizable, long-term protection.
