At a Glance
Empire Life is an insurance company that won The Insurance Business Canada award for 2019’s Life and Health Insurer of the Year and is one of the top five providers in terms of affordability. In addition to Empire Life group benefits, the company offers a variety of products to make employees’ lives better.
Table of Contents
Save more on Group Benefits!
Let GroupEnroll.ca do the heavy job and negotiate rates with Canada’s major insurance providers.
Empire Life Review
Empire Life is a Canadian insurance company that has been offering wealth management, insurance, and group benefits solutions since 1923. The Empire Life headquarters is in Kingston, Ontario, and the company trades publicly on the Toronto Stock Exchange.
|Insureye Consumer Rating||3/5|
|Benefits and Claims Paid||$157 million in 2019|
|Number of Clients||400,000 in Canada|
|Annual Premiums||$910 million in 2019|
|Total Assets||$18.2 Billion|
Empire Life is a credible company and widely regarded as one of Canada’s Top Ten Insurance Providers. Its insurance policies are among the most flexible in the industry. At the time of writing this, the Better Business Bureau does not show any complaints against the company.
Empire Life Group Benefits Products
BeneFit is an Empire Life Benefits plan that is available to small businesses with 2 to 19 employees. Mandatory benefits of the plan include basic life, accidental death, and dismemberment insurance. Optional benefits of BeneFit include optional life and AD&D, weekly indemnity, long-term disability, and extended health benefits.
Like BeneFit, 20Plus offers customizable options and affordable products, but it is only available to businesses with 20 or more employees. The 20Plus plan is quick and easy to set up, and you get access to Empire Life priority customer service. You can also combine the 20Plus plan with the Administrative Services Only (ASO) from Empire Life.
Administrative Services Only (ASO)
With the ASO split-funded plan from Empire Life, you have the option to self-insure a portion of extended health and dental benefits and drugs or incidental health expense claims. If you choose ASO, Empire Life will provide you with administrative and claims services for the portion that you self-insure.
Critical Illness Insurance
Empire Life’s critical illness insurance forms part of the company’s group benefits and is fully customizable. Employees can get coverage for up to 31 health conditions and maximum amounts of up to $250,000, granting peace of mind when the unexpected and unpreventable arises.
Empire Life offers coverage for primary dental care as well as periodontic and endodontic treatments. Employees also receive coverage for extensive restorative services. The dental coverage options are flexible, and you can formulate the most cost-effective plan for your employees.
Empire Life FAQ
What are Group Insurance Benefits?
Group insurance plans allow you to offer supplemental health insurance to your employees to cover services not covered by provincial plans, such as prescription drugs, dental and vision care, medical equipment and appliances, and services from certain types of healthcare professionals.
What Other Group Benefits Plans does Empire Life Offer?
Empire Life Option Plus Group RSP offers retirement savings plans for businesses with two or more employees. Your business’s annual plan contributions need to be at least $10,000 to qualify for these plans. The retirement savings plans have no annual administration fees, but contributions must be at least $30 for regular deposits.
The International Business Travel Medical (IBTM) plan benefits employees working in another country for six months or longer. It offers complete coverage for life, medical, disability, dental, and emergency medical care.
GroupEnroll.ca can help you save time and money when comparing Canada’s major group health insurance providers. Try it now!
Learn More About Empire Life
If you are looking for the most cost-effective group insurance quotes, Group Enroll can help. Complete and submit our quote request form to receive quotes from up to ten leading insurance providers within three business days.