Empire Life | Insight
Empire Life reports record earnings for 2013
Last week, we released our 2013 year-end financial results. We achieved a record level of earnings with an overall shareholders’ net income of $113.3 million compared to $80.2 million in 2012. Results in the Individual Insurance and Wealth Management business lines improved significantly over 2012.
“I am very pleased with our results in 2013 and the progress we’ve made on our key projects,” said Les Herr, President and Chief Executive Officer.
New Customizable Inheritance Option
We launched an Annuity Settlement Option which offers a no-cost way to tailor how the proceeds of insurance policies are paid out to beneficiaries by allowing customers to choose either a series of guaranteed regular payments or an upfront initial payment with the balance in guaranteed regular payments.
“Our Annuity Settlement Option recognizes that many customers want more control over how the proceeds are paid out to ensure their loved ones are taken care of,” said Julie Yoshikuni, Vice-President, Retail Investments Products & Marketing. “With choice and flexibility, our customers can now have greater peace of mind.”.
Tax Season 2014: Explaining Segregated fund taxation for non-registered policies
A segregated fund may earn income from interest, dividends, foreign income, capital gains or losses on its investment holdings. Is it any wonder that clients receiving a T3/Relevé 16 slip from their segregated fund investments often have questions at tax time? This document is a great resource you can use when answering their non-registered tax questions.
Optimizing Term Extender in Optimax
If you’re looking to provide your clients affordable, guaranteed coverage with rates that won’t change, take a closer look at our Optimax plan option &ndash Extender Plus Paid-Up Additions!
By choosing the term extender option inside our participating plan with the lifetime guarantee option, Optimax can provide excellent coverage at a price that is on “par” with traditional guaranteed whole life plans.
Benefits include:
- Earlier start to cash values (over traditional whole life plans)
- Cash values not limited to initial coverage amount
- Possible coverage growth in later years
- Guaranteed premium pay period and amount
- Term extender portion is convertible up to age 75
Also, if your clients want to shorten the time they need to pay their premiums, they can choose the 20-Pay option at an affordable price.