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Empire Life of Canada

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The Empire Life Insurance Company has grown to become one of the top 10 life insurance companies in Canada. Now, they offer a full range of financial products and services to Canadians including life and critical illness coverage, retirement and investment options, health, group life, RSP plans and more.
Early in the Company’s history, their Corporate Head Office moved from Toronto to Kingston, Ontario and has since become an integral part of the city’s history. Empire Life is a subsidiary of E-L Financial Services Limited, which is 81 percent owned by E-L Financial Corporation Limited of Toronto and 19 percent owned by Guardian Assurance plc.
A proudly Canadian company, Empire Life is about people working together to provide solutions for the changing financial security and wealth management needs of Canadians. Financial security means different things to different people. For most of them, it means a comfortable standard of living. But maintaining your standard of living takes hard work and money.
As the name implies, term insurance is designed to provide coverage for a specific number of years, or 'term'. When term insurance was first introduced to the marketplace, policies would expire at the end of the term or when the insured person reached age 65 or 70. Today, you can find term policies that will insure you until age 100.
The main advantage of purchasing term insurance is the low initial premiums. But you should keep in mind that most term policies have a set renewal period. At the end of this period, you will need to 'renew' the policy at new premium rates. Since age is a major factor in pricing insurance, the cost of your insurance will most likely increase.
Term insurance can be used to cover a variety of insurance needs, such as a mortgage, personal or business loans or replacement of income after a death, to name just a few. Its real strength is in providing larger amounts of coverage at a lower cost. This can be especially important to a young family with small children where there is a need to provide financial security, at low cost, for the years when the children are financially dependent on their parents.

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