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RepriceSolution10_Solution20


Reprice of Solution 10 and 20 with up to 34% decrease in initial term premiums, and new value-added product features!

We're thrilled to announce important enhancements to our Solution Series® Term Life Insurance, effective April 24, 2025! These updates make our term life insurance even more competitive and valuable for your clients.

NEW Solution Series Enhancements in a nutshell:

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Reprice Solution 10 and Solution 20

Reprice Solution 10 and 20, with standard non-smokers seeing average premium decreases: 3% on Solution 10, 1% on Solution 20.1

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NEW Contractual Term Exchange Privilege

During the first seven policy years, clients can exchange a Solution ART, 10, 15, or 20 coverage for new coverage that is at least 10 years longer.

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NEW Term Conversions with Carry-Over

Clients can do a partial term conversion and carry over the remaining term insurance up to the original coverage amount, no medical evidence required.

Solution 10 and Solution 20 achieved an average overall market rank of 2 against 20 comparable products.2

We also introduced a new premium band for Solution 10 and 20 for insurance amounts of $5,000,000 or more.

See the improved rankings for yourself in these key target scenarios:

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1For all issue ages, sex at birth, standard non-smoker rates
2Rankings based on initial premium rates for Solution 10 and Solution 20 compared to 20 other comparable term products for standard life insured, both smoker and non-smokers, face amounts of $50,000, $100,000, $250,000, $500,000, $1,000,000, $1,500,000, $2,000,000, $2,100,000, $2,500,000, $5,000,000, $7,500,000, $10,000,000, using LifeGuide quotes as of April 1, 2025 for the comparable products.

 

Download the NEW Product Guide and Product Overview for more details:

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NEW Solution Series Product Guide
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NEW Solution Series Product Overview


Empire Life tools to help you grow your business

  1. Find your Inforce Business Opportunities on My Advisor Dashboard
    Download a list of clients eligible for:
    - Upcoming Term Renewals
    - Expiring Term Exchange Options
    - Expiring Conversion Privileges
    And quickly find more policy details through Policy or Client Search.

  2. Discuss options with your client.

    When meeting with your client, the eVision Insurance IllustratorTM makes it easy to present multiple scenarios with pre-populated illustrations. 

  3. Save time with the Fast & Full® Life Application.

    Fast & Full Life applications using eHQ and eContract delivery options, contracts may be issued nearly 5X faster than with a paper application. Up to 61% of contracts using Fast & Full were issued in under 5 days.2

  4. Check out additional resources:

    1. Term Exchange Privilege Brochure
    2. Life & Health Product Overview
    3. Case Study Package Deal in Action - young couple
    4. Case Study Package Deal in Action - growing family
    5. Case Study Package Deal in Action - single working parent

2Median time-to-issue contracts based on Fast & Full life applications that use eHQ, are “auto-approved”, and where eContract delivery is selected and owner(s) and life insured(s) validate email addresses when application is signed, vs. paper application. Empire Life data on file from February 1, 2025 to February 28, 2025.

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Download NEW Case Study
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If you have any questions, please contact your Account Executive or call our Sales Centre Team at 1 866 894-6182 or by email at salescentre@empire.ca

Policies are issued by The Empire Life Insurance Company.
® Registered Trademark of The Empire Life Insurance Company

FOR ADVISOR USE ONLY