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Get early access exclusively on LifeGuide!
Our new initial premium rates on our flexible Solution Series® term life insurance products are now available for quotes exclusively on LifeGuide, an independent external premium quote provider.
As announced last week, the new rates are lower for 90% of ages, terms and insurance amounts. This represents an overall average decrease of 5.3% and overall average decreases by product of:
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Please note that rates shown on the Fast & Full Life App and our Envision illustration software will continue to reflect the current rates until the official launch on March 15, 2022. However, all new applications for Solution 10, Solution 20, Solution 25 and Solution 30 submitted between March 1 and March 15, 2022 will receive the lower of the new rates or the current rates, as outlined in the Information Circular.
These new rates significantly improve Empire Life’s overall competitive positioning in the key target ages of 25-50, moving us to #2 in the marketplace against over 20 comparable products and places Empire Life in the top 5 rankings for 100% of age, premium bandings and gender scenarios!1
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 Access to the Fast & Full® Life App is always just one click away on LifeGuide!
Did you know you can access Fast & Full with one click directly from your LifeGuide session? When you select an Empire Life product for a quote, simply click on the “Proceed to online insurance application” icon to begin a Fast & Full session (as seen in the image below).
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Fast and Full Life was the first online life insurance application to appear on LifeGuide. In choosing to highlight this Empire Life digital solution, LifeGuide recognized our commitment to digital innovation and a great user experience.
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Until March 31, 2022, earn 20% more FYC vs. paper applications when submitting applications for Solution Series term life insurance using the Fast & Full Life App when completing the electronic health questionnaire (eHQ) and clients select and receive their policy by eContract Delivery.
Did you know that 50% of Fast & Full applications that use the eHQ are issued within 5 business days3 vs. fewer than 10% where a PHI was requested? The eHQ and eContract Delivery options are FASTER and MORE CONVENIENT for your clients and for you!
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1 Expected premium rankings are based on the proposed new annual premiums for first 10 years for Solution 10, for first 20 years for Solution 20, the first 25 years of Solution 25 and first 30 years for Solution 30 comparing the annual premiums quoted on LifeGuide on February 16, 2022 for the initial premiums of 20 other comparable 10-year, 21 other comparable 20-year, 13 other comparable 25-year, and 19 other comparable 30-year renewable term products, for the gender, ages, coverage amounts and risk class shown.
2 The additional FYC qualifies for bonuses. Available on all life and health insurance products in contracts issued based on applications submitted using the Fast & Full Life App. This promotion can be withdrawn by Empire Life at any time.
3 Median time to issue contracts based on Fast & Full Life Application vs. paper application that use eHQ, are “auto-approved”, eContract delivery is selected and owner(s) and life insured(s) validate email addresses when application is signed. Empire data on file from June 30, 2021 to December 31, 2021.
FOR ADVISOR USE ONLY. NOT FOR DISTRIBUTION TO THE PUBLIC.
The information in this document is for general information purposes only and is subject to change without prior notice. Empire Life assumes no responsibility for any reliance made on or any inaccuracy in the information contained in this document.
Policies are issued by The Empire Life Insurance Company.
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