Empire Life brings out new guaranteed issue life insurance product
Empire Life Insurance Company has launched Guaranteed Life Protect, a new guaranteed issue life insurance product that provides guaranteed, lifetime coverage with no health or lifestyle questions asked.
“Guaranteed issue life insurance has broad appeal across a number of key consumer segments in the Canadian marketplace,” said Mike Stocks, vice president and chief marketing officer, retail, with the insurer.
“While we know it will be attractive to consumers looking to cover final expenses who may have been turned down for coverage in the past, we believe Guaranteed Life Protect will also appeal to consumers who value convenience and speed.”
Unlike many guaranteed life insurance products available in Canada today, Guaranteed Life Protect offers coverage of up to $50,000 (depending on age), while also providing features normally associated with fully underwritten coverage, such as cash surrender value, reduced paid-up values and guaranteed level premiums.
“Our clients and advisors rely on us to be simple, fast and easy,” said Stocks. “Guaranteed Life Protect greatly enhances that promise. Whether purchased online, or with its simple application, getting important coverage has never been simpler, faster or easier.”