In anticipation of upcoming regulatory changes, Empire Life will stop offering the low load (LL) and deferred sales charge (DSC) purchase fee options in most segregated fund contracts. As of May 29, 2023, the DSC and LL purchase options for these contracts will be closed to all purchases. 

Impact to certain segregated funds contracts: 

• Purchases made through systematic plans such as pre-authorized deposit (PAD) plans will have their scheduled deposits automatically redirected to purchases of the equivalent fund(s) with a front-end load (“FEL”) charge of 0% as of May 23, 2023.
• Customers with existing segregated fund units in the DSC and LL purchase options made prior to May 29, 2023, will retain their redemption schedule until it matures. They will also be able to continue to switch between different segregated funds. (Note: switches can only be done within the same purchase option).
• No new deposits into the DSC and LL purchase options will be allowed after May 29, 2023.

Customer Communication
Customers will be notified of these changes in a letter that is included in both paper and electronic statements in June 2023. The letter will provide details about the changes and direct them to download the contract amendment for their reference. 

An advisor FAQ has been prepared to provide additional information, and we’ll update the product changes webpage with new information and material as they become.  

Investments are not guaranteed, their values change frequently, and past performance may not be repeated. Any amount that is allocated to a Segregated Fund is invested at the risk of the contract owner and may increase or decrease in value. A description of the key features of the individual variable insurance contract is contained in the Information Folder for the product being considered.

Segregated Fund policies are issued by The Empire Life Insurance Company.

FOR ADVISOR USE ONLY