Empire Life Critical Illness Insurance Review

A critical illness like a heart attack, stroke, or cancer can not only affect your health but also have a long-lasting financial impact. That’s when critical illness insurance from a reputable company like Empire Life proves invaluable protection.

Empire Life’s critical illness plans offer a lump sum payout upon diagnosis of a covered illness, allowing you to concentrate on getting better without financial stress. But is Empire Life a good fit for you? 

On this page, we cover in detail thetwo critical illness insurance plans offered by Empire Life, including their main features, optional benefits, coverage options, and more. 

Our Empire Life Critical Illness Insurance Review

Empire Life is financially stable (AM Best Rating “A”) and a well-respected insurance company. Besides life insurance, Empire Life provides two critical illness insurance plans: CI Protect and CI Protect Plus.

CI Protect Plus covers 25 illnesses, offers generous built-in benefits, and plenty of riders.

CI Protect, on the other hand, can be a right choice for someone who wants to protect themselves from the financial impact of the four common critical illnesses. 

‍Pros

• Two different critical illness insurance plans
• Digital e-policy
• Can purchase coverage of up to $2 million 
• Impressive partial benefit payouts
• The comprehensive plan covers 25 illnesses

Cons

• The basic plan doesn’t include any riders
• No limited pay options

‍Who is Empire Life?

Ranked among top 10 insurers in Canada, Empire Life offers a wide range of insurance products, investment solutions, and group benefits. In the critical illness insurance niche, Empire Life is recognized as one of the major players, offering two competitively-priced plans: CI Protect and CI Protect Plus. 

Empire Life Critical Illness Insurance Products

Let’s take a detailed look at both of Empire Life's plans.

CI Protect

This is a simple critical illness plan, covering 4 common serious illnesses and having a fast application process. As long as you are in reasonably good health and are not over 55 years of age, you will likely have no problem in qualifying for CI Protect. 

• Illnesses Covered: 4 (Cancer, Stroke, Heart Attack, & Coronary heart disease)
• Coverage Amount: $25,000 to $75,000
• Sub-Plans: CI Protect 10 (premiums increase at every 10 years) and CI Protect 20 (premiums increase at every 20 years)
• Survival Period: 30 days
• Riders: None
• Built-in Benefits: Benefit Payable on Death (Empire Life pays a small death benefit of $1,000 if the insured dies before the plan’s maturity date and without filing a critical illness insurance claim)

CI Protect Plus

If you need more than $75,000 in benefits or want protection against more than four illnesses, CI Protect Plus is an option. It covers 25 critical illnesses, has a maximum benefit of $2,000,000, and includes many additional benefits so that you can tailor the plan to your needs. 

• Illnesses Covered: 25 (Cancer, stroke, heart attack, coronary heart disease, dementia, severe burns, paralysis, and Parkinson's disease, among others)
• Coverage Amount: $25,000 to $2,000,000
• Sub-plan Types: CI Protect Plus 10 (premiums increase at every 10 years until age 75), CI Protect Plus 20 (premiums increase at every 20 years until age 75), CI Protect Plus 75 (premiums remains the same until coverage expires at age 75), and CI Protect Plus 100 15-Pay (premiums increase at every 15 years until age 100)
• Coverage Duration: Age 75 (CI Protect Plus 10, CI Protect Plus 20 & CI Protect Plus 75) or age 100 (CI Protect Plus 100 15-Pay)
• Survival Period: 30 days
• Riders: Waiver of Premium, Children’s Life Rider, Children’s CI Rider, Accidental Death & Dismemberment, Return of Premium on Maturity or Surrender, and Return of Premium on Death
• Built-in Benefits:
  • Non-Life Threatening Illness Benefit (Get 15% of the benefit amount if you are diagnosed with any of the 6 covered illnesses. This benefit can be collected twice, provided both payments are for different illnesses. Overall coverage amount will not be impacted by the payment of this built-in benefit.)  
  • Benefit Payable on Death (Empire Life pays a small death benefit of $1,000 if the insured dies before the plan’s maturity date and without filing a critical illness insurance claim)
  • Medical Concierge Services (Remote second opinion, Critical illness care management, etc.)

What conditions and illnesses does Empire Life Critical Illness cover?

Empire Life offers two critical illness insurance plans: CI Protect and CI Protect Plus. 

The CI Protect Plan covers four common critical illnesses: 

• Coronary heart disease
• Cancer
• Stroke
• Heart attack

The CI Protect Plus Plan, in contrast, covers 25 conditions, including:

• Aplastic surgery
• Aortic surgery
• Blindness
• Cancer
• Benign brain tumor
• Bacterial meningitis 
• Loss of independent existence
• Kidney failure
• Major organ transplant
• Multiple sclerosis
• Paralysis
• Stroke
• Heart attack
• Dementia

How to apply for Empire Life Critical Illness Insurance

Empire Life, like many other Canadian insurance companies, does not offer online quotes. You can go to their website, click the Contact Us option, and select your region. Or, you can contact their Sales Center Team directly by calling 1 866 894-6182 or emailing at salescentre@empire.ca. 

Alternatively, you can shop the market for critical illness insurance and compare rates through an independent broker like Dundas Life. Book a free consult here.

Find the best rates

Compare quotes from Canada's top life insurance companies in no time.

Compare Rates

How much does Empire Life Critical Illness cost?

Empire Life critical illness premium rates are generally competitive, but the exact amount you will pay for coverage depends on several factors unique to you. They include: 

• Your age
• Gender
• Health
• Smoking status
• Benefit amount and policy term
• Riders

For example, a 30-year-old individual will pay less in premiums than a 50-year-old person for the same critical illness coverage. This is because the older you get, the higher the chances of suffering a critical illness. 

In addition to these, your critical illness premium rate also depends on the type of critical illness plan you buy. Empire Life CI Protect Plus (covers 25 conditions) provides more comprehensive coverage than CI Protect (covers 4 conditions) and hence comes with higher premiums. 

Conclusion

Empire Life has two critical illness insurance plans. CI Protect is aimed at people looking for basic critical illness protection, whereas CI Protect Plus is geared toward those who want comprehensive coverage, along with several bells and whistles. 

Regardless of what type of critical illness insurance coverage you want, Empire Life can be an option. But don’t forget to first compare its offerings and pricing with other top Canadian insurance companies since its possible another insurer may offer you a better deal.

Dundas Life can provide you with no-obligation price quotes from multiple A-rated insurance companies, making it easier for you to pick the insurer that’s best for you. Contact us today.