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Home > Car Insurance News > Empire Financial Group introduces affordable and flexible term insurance to Canadians
Empire Financial Group introduces affordable and flexible term insurance to Canadians
New full featured Term 20 product; Revised and more competitive Term 10 rates; New portfolio funds
Kingston, Ontario, September 28, 2004 - Empire Financial Group (Empire) introduced a new Term 20 life insurance product and improved rates for Term 10 products to the Canadian marketplace today. Both provide temporary insurance for 10 or 20 years and can be structured according to the needs of the client.
The new Term 20 offering, part of Empire’s Solution Series of insurance products, is perfect for the "mortgage market" and those individuals looking for affordable and flexible term insurance. The new rates for Solution 10 term insurance have been targeted to be most affordable for people between the age of 35 and 55 needing insurance amounts between $100,000 and $1 million. Both products are convertible and renewable up to age 100, regardless of change in health or insurability.
"Solution 20 provides what we think is a better alternative to creditor insurance offered by major banks", says Jim Gibson, Director of Individual Marketing. "Solution 20 lets the insured name the beneficiary instead of the funds going to the creditor. Also, the face amount remains the same over the life of the policy. That’s different than typical creditor insurance which has a declining value."
Gibson adds that Solution 20 insurance is a good choice for small business owners who want to secure a loan from a financial institution. The insurance can be used as collateral and is a relatively inexpensive way to cover the loan.
For investors, Empire also introduced five new Portfolio Segregated Funds which are a strategic mix of Empire’s top performing funds.
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