Finance · Providers · Empire Life
💼 Provider Partner

Empire Life —
Built for Canadians.

Competitive term pricing, strong universal life, and a critical illness product that gives your money back if you stay healthy. Here's what Rico can do for you through Empire Life.

Rico is a Financial Associate with Experior Financial Group — not a certified Financial Advisor

About Empire Life

Over 100 years of Canadian insurance. Competitive, flexible, and built for real families.

Empire Life was founded in 1923 in Kingston, Ontario — making them one of Canada's oldest and most established insurers. For over a century, they've focused on building products for everyday Canadians: straightforward, competitive, and genuinely useful.

Empire Life is particularly known for competitive term life pricing, strong universal life products, and one of the most compelling critical illness features in the market — a return-of-premium option that refunds your premiums if you never make a claim. It removes the biggest objection most people have to critical illness insurance: "what if I never get sick?"

Rico has a direct contract with Empire Life through Experior Financial Group, which means he has strong placement capacity and can access their full product lineup for clients in the Okanagan and BC.

Empire Life logo
Visit empire.ca →
1923
Year founded (Kingston, Ontario)
100+
Years serving Canadians
A-
Financial strength (AM Best)
✓
Direct contract — full product access

Products Available Through Rico

What Empire Life offers — and what it means for you

Click any product to learn more.

🛡️
Term Life Insurance +

Highly competitive pricing for young, healthy Canadians — one of Empire Life's strongest offerings.

Empire Life's term products are among the most competitively priced in Canada, particularly for applicants in good health. Rico regularly uses Empire Life when comparing quotes for term coverage.

  • 10, 20, and 30-year term options
  • Convertible to permanent without new medical exam
  • Level premiums guaranteed for the full term
  • Joint coverage available for couples
  • Ideal for: young families, mortgage protection, income replacement
🏛️
Universal Life Insurance +

Permanent coverage with a flexible, tax-sheltered investment account — built for long-term planning.

Empire Life's universal life products are solid for clients who want permanent coverage with an investment component. The policy's cash value grows tax-sheltered, and you control how it's invested.

  • Lifelong coverage — never expires
  • Tax-sheltered investment account inside the policy
  • Flexible premium payments
  • Multiple investment account options
  • Ideal for: high-income earners, business owners, estate and tax planning
❤️‍🩹
Critical Illness + ROP +

Get covered. If you never claim — get your money back. Empire Life's standout product.

Empire Life's critical illness insurance is one of the strongest in the market. The return-of-premium (ROP) option is the headline feature — if you hold the policy and never make a CI claim, you receive all paid premiums back.

  • 26+ covered conditions: cancer, heart attack, stroke and more
  • Tax-free lump sum paid 30 days after diagnosis
  • Return-of-premium option — premiums refunded if no claim made
  • ROP available at policy expiry or on death
  • Standalone policy or rider on life insurance

The most common objection to CI insurance is "what if I never get sick?" Empire Life solved it.

🩺
Disability Insurance +

Income protection if illness or injury keeps you out of work — your most valuable asset is your ability to earn.

Empire Life offers disability income products for individuals who need protection beyond what a group plan covers. Especially valuable for the self-employed and contract workers.

  • Short and long-term disability options
  • Benefit periods to age 65
  • Waiver of premium while on claim
  • Ideal for: self-employed professionals, contractors, business owners
📈
Segregated Funds +

Invest with a safety net — Empire Life seg funds offer market growth with capital protection guarantees.

Empire Life's segregated fund contracts give you access to market-linked growth with built-in guarantees. Particularly useful for clients who want investment growth but can't stomach the idea of losing principal.

  • 75–100% principal guarantee at maturity or death
  • Bypasses probate — paid directly to named beneficiary
  • Creditor protection when preferred beneficiary is named
  • Reset option to lock in market gains
  • Death and maturity guarantees for capital protection
📋
Living Benefits Riders +

Optional add-ons that enhance your coverage and protect you during your lifetime.

Empire Life offers a suite of riders that can be added to base policies for enhanced protection. These are especially useful for young families who want to build comprehensive coverage efficiently.

  • Waiver of premium on total disability
  • Child protection rider — CI and life coverage for dependants
  • Guaranteed insurability option — buy more coverage later, no medical required
  • Accidental death benefit

Return-of-Premium CI

Critical illness that pays you back if you stay healthy.

The biggest reason people don't buy critical illness insurance is simple: "What if I pay premiums for 20 years and never get sick? I've wasted all that money."

Empire Life's return-of-premium option removes that objection entirely. Here's how it works:

1

You buy a CI policy with ROP rider

Coverage begins immediately for cancer, heart attack, stroke, and 23+ other conditions.

2

You get sick → benefit pays out

A tax-free lump sum is paid 30 days after diagnosis. Use it however you need.

3

You stay healthy → premiums returned

If you reach the end of the policy term without a claim, your premiums are refunded. Your protection cost you nothing.

4

Either way, you win

Sick: you have money to cover treatment and recovery. Healthy: you get your money back. There is no scenario where you lose.

Want to see what a return-of-premium CI policy would cost you?

Rico can run a quote for your age, health profile, and coverage amount — and show you exactly what the ROP option adds to the premium. For many clients, it's surprisingly affordable.

💬 Get a CI Quote from Rico

Understanding Segregated Funds

Seg funds vs. mutual funds — what's the difference?

Both can grow your wealth. But seg funds have protections mutual funds simply can't offer.

Mutual Funds

❌ No principal guarantee — full market risk
❌ Goes through probate on death — delays and costs
❌ No creditor protection
✅ Generally lower management fees
✅ Widely available through banks

Empire Life Seg Funds

✅ 75–100% principal guarantee at maturity or death
✅ Bypasses probate — paid directly and faster to beneficiary
✅ Creditor protection with preferred beneficiary named
✅ Death and maturity guarantees — capital protection built in
⚠️ Slightly higher fees for the added protection layer

Common Questions

Things people ask about Empire Life products

Is Empire Life competitive on term pricing?+
Empire Life is consistently one of the most competitive providers for term life insurance, especially for healthy applicants under 50. Rico pulls quotes from multiple insurers and Empire Life often comes out near the top for price-per-dollar of coverage.
What does the CI return-of-premium actually cost?+
The ROP rider adds to your premium — but for many clients, the peace of mind of knowing "I'll either get coverage or get my money back" makes it worth it. The exact cost depends on your age, health, and coverage amount. Rico can run a comparison for you in minutes.
Does Rico have a direct contract with Empire Life?+
Yes. Rico has a direct contract with Empire Life through Experior Financial Group, which gives him access to the full product lineup and strong placement support. This means your application gets handled efficiently and Rico can advocate for your case if underwriting questions arise.
Can I convert term to permanent with Empire Life?+
Yes. Empire Life's term policies include a conversion option that lets you switch to permanent coverage without a new medical exam. This is valuable if your health changes — you lock in insurability at your original health rating, regardless of what happens later.
Is Empire Life good for the self-employed?+
Yes — particularly for disability and critical illness coverage. Self-employed Canadians don't have employer group benefits, which means a serious illness or injury could be financially devastating without personal coverage. Empire Life's individual products are designed with this in mind.
Does Rico only recommend Empire Life?+
No. Rico works with multiple providers through Experior Financial Group. Empire Life is a strong fit for competitive term, CI with ROP, and universal life — but Rico will always compare options and recommend what's genuinely best for your situation, not what's most convenient.

Other Providers Rico Works With

Manulife Canada's largest insurer Canada Life Whole life & IBC specialist Equitable Life Mutual company, strong CI Beneva Canada's largest mutual

Talk to Rico

See if Empire Life is right for your situation.

Free consultation. No pressure. Rico will compare Empire Life against other providers and show you what makes sense for your life and budget.

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