Empire launches simplified CI productpar Andrew Rickard | July 07 2016 11:26AM
On July 6, Empire Life announced the launch of its CI Protect simplified critical illness insurance product.
The insurer says it has designed the product to cover the four most prevalent health conditions in Canada, namely cancer, heart attack, stroke, and coronary artery bypass surgery. Sean Kilburn, senior vice-president of the retail division at Empire, notes that these illnesses account for 88% of all paid critical illness claims.
"With an aging population, the possibility of being diagnosed with a critical illness is a reality that many more Canadians will face in the next decade," says Kilburn. "Empire Life CI Protect provides affordable coverage with a simple application process that uses life insurance underwriting with no additional health insurance requirements."
Empire has incorporated the new product into its Fast & Full system, which is an online insurance application process that offers an electronic health questionnaire, electronic payments, and the ability to collect electronic signatures.