Empire Life is the most recent Canadian Insurance Company to announce that they are increasing the premiums on their permanent insurance products as well as eliminating one of their most popular products - a 20 pay permanent insurance policy. What is unique about their announcement is that they are providing a short window from the announcement until the changes occur on November 24th leaving very little opportunity for new sales. This is understandable when one does a comparison quote.
The guaranteed premium for $100,000 of whole life insurance for a 40 year old male non-smoker is $74.88 per month with Empire Life and the second lowest premium is $80.82 per month. Similarly a 20 pay guaranteed whole life policy with Empire life is $112.77 and the second best price is $122.89 per month. Empire life is removing this product from the market effective November 24th.
This follows most of the other companies who have increased prices recently and will likely be followed by others due to their continued low investment returns and changes in insurance company reserve requirements.
Anyone wanting to take advantage of their excellent products prior to the price increase would have to act by calling us at 1-866-238-9271 (tel:1-866-238-
About the Company
LifeInsuranceQuote.com owner Russ Smart is dedicated to providing clients the best possible life insurance, and has built a network of over 12 independent brokers with over 100 years of combined experience who can deal with almost any insurance situation that might arise. LifeInsuranceQuotes.com is associated with Equinox Financial Group Custom Plan who are Independent Financial Planners and Insurance and Investment Specialists, and who are also winners of the Consumer's Choice Award for Greater Vancouver for the past three years.
For more information, or to obtain a life insurance quote, contact
I.D.C. INSURANCE DIRECT CANADA INC.
Suite 200, 20212 Fraser Hwy
Langley, British Columbia V3A 4E6
Toll Free: 1-866-238-9271