1Savings percentage is based on the monthly premiums for Solution 25 vs. an average of the monthly premiums charged by the top 5 banks for mortgage life insurance. Based on monthly premiums for the first 25 years for a healthy 36-year-old female, non-smoker, purchasing $400,000 of Solution 25 as of October 6, 2023. Premiums increase at renewal. The average cost of the top five banks’ mortgage life insurance premiums is the average of the monthly premium of mortgage life insurance offered by Scotiabank ($96.00), BMO ($84.00), TD Canada Trust ($86.13), RBC ($60.48), and CIBC ($80.00) for the same individual obtaining a $400,000 mortgage as determined by Empire Life in a survey conducted on October 6, 2023.
2 LIMRA, Canadian Individual Life Insurance Sales, 2nd quarter year-to-date 2023
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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.