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| Empire Life offers life insurance solutions in Canada designed to provide financial protection for families and long-term planning needs. |
Life insurance in Canada is increasingly being used for more than replacing a household’s income after death. It can also help cover mortgages and debts, fund estate plans, protect businesses and create a long-term financial legacy. Against that backdrop, The Empire Life Insurance Company offers a range of term, permanent and participating life insurance products designed for different stages of financial planning.
The choice between these products can have a significant effect on both the cost of coverage and what a policy ultimately provides. Understanding the differences is therefore important before focusing on premiums alone.
Empire Life’s insurance lineup covers several needs
Empire Life divides its individual life insurance offerings into four broad categories: term life insurance, permanent life insurance, permanent participating life insurance and guaranteed-issue life insurance.
Term insurance is generally designed for people who need protection for a defined period. Empire Life currently offers Solution ART, Solution 10, Solution 15, Solution 20, Solution 25 and Solution 30. These products are aimed at needs such as mortgage protection, income replacement, debt repayment and small-business planning.
The duration matters. Solution 10 provides a 10-year term, while Solution 20 and Solution 30 provide 20 and 30 years of coverage respectively. Empire Life also states that its term products can provide coverage beyond the initial term through their renewal structures, subject to the terms of the policy.
Permanent coverage takes a different approach
For Canadians seeking lifelong protection, Empire Life offers permanent insurance.
Its non-participating permanent products include Solution 100 and Term to 100. Empire Life describes these policies as providing guaranteed lifetime protection, with premiums and coverage structured around long-term guarantees. Term to 100 is available with premiums payable for life to age 100 or through a 20-pay option.
This type of insurance can be relevant when the financial obligation is not expected to disappear after 10, 20 or 30 years. Estate costs, business succession planning and legacy objectives are examples of situations where permanent coverage may have a different purpose from conventional term insurance.
Participating policies add a second financial component
Empire Life also offers participating whole life insurance through Optimax Wealth and EstateMax.
These policies provide permanent insurance while allowing policyholders to participate in the company's participating profits through dividends. Those dividends are not guaranteed, and the policy contract determines how they can be used. Options can include receiving dividends in cash, accumulating them, reducing premiums or purchasing additional paid-up insurance.
The two products are structured somewhat differently. Empire Life describes Optimax Wealth as having an emphasis on earlier cash values, while EstateMax is designed with a stronger focus on long-term cash values and estate planning.
That distinction is important because participating insurance is not simply a more expensive version of term insurance. It combines lifetime protection with contractual guarantees and non-guaranteed dividend elements, making the policy's long-term mechanics particularly important to understand.
The company's scale puts its products in a wider industry context
Empire Life remains a significant participant in Canada's insurance market. According to its 2025 annual report, the company had total assets of approximately $20.8 billion at December 31, 2025, including about $6.2 billion associated with its individual insurance segment.
The company also ranks among Canada's top 10 life insurance companies by total assets based on December 31, 2025 OSFI filings. DBRS Morningstar listed Empire Life's financial strength rating at A (high) with a stable trend as of July 13, 2026.
Those figures provide useful context for consumers evaluating the insurer, although a company's financial strength rating does not determine whether a particular policy is appropriate for an individual.
What Canadians should examine before buying
The most important comparison is not necessarily the lowest monthly premium. Consumers should consider the duration of protection, how premiums can change, whether coverage can be converted, cash values where applicable, policy guarantees and the circumstances under which benefits are paid.
Empire Life also offers simplified-issue term products. Its Simplified 10 and Simplified 20 policies use a health questionnaire rather than a traditional medical examination, subject to the insurer's underwriting process and eligibility requirements. The company says these policies can be applied for online and renew automatically at the end of each term, although premiums increase at renewal.
For someone primarily looking to protect a mortgage or replace income during working years, term coverage may address a different need from permanent insurance intended for estate planning.
That difference is ultimately the central issue when considering Empire Life life insurance in Canada: the appropriate policy depends on the financial obligation being protected, how long that obligation is expected to last and whether the consumer needs temporary or lifetime coverage.
Frequently asked questions
Is Empire Life a Canadian life insurance company?
Yes. The Empire Life Insurance Company operates in Canada and provides life and health insurance as well as investment-related financial products. Its financial information is publicly reported, including through its annual reports and regulatory filings.
What term life insurance does Empire Life offer?
Its current term lineup includes Solution ART, Solution 10, Solution 15, Solution 20, Solution 25 and Solution 30. Each is designed around different coverage periods and premium structures.
Does Empire Life offer whole life insurance?
Yes. Empire Life offers permanent non-participating insurance as well as permanent participating whole life insurance.
Are Empire Life participating policy dividends guaranteed?
No. Empire Life states that dividends on participating policies are not guaranteed. The policy contract governs the available dividend options and applicable conditions.
Can Empire Life term insurance be converted?
Empire Life's advisor information states that its Solution Series term plans can be converted to eligible products up to age 75, subject to the applicable policy provisions.
Is Empire Life financially strong?
DBRS Morningstar reported an A (high) financial strength rating for Empire Life as of July 13, 2026, with a stable trend. Empire Life also reports that it ranks among Canada's top 10 life insurers by total assets based on December 31, 2025 OSFI filings.
Should Canadians choose term or permanent life insurance?
There is no universal answer. Term insurance is generally suited to time-limited financial needs, while permanent insurance is designed for lifelong protection and can include cash-value or participating features. The appropriate choice depends on the policyholder's financial objectives and the terms of the specific contract.
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