About Empire Life
Empire Life, a subsidiary of E-L Financial Corporation Limited, was founded in Toronto in 1923. It offers Canadians a range of life and critical illness insurance, investment and group insurance products. Now employing more than 1,000 people, including approximately 100 in Quebec, the company is also located in Montreal.
Their mission is to help all Canadians obtain the individual and group insurance they need. Empire Life is committed to providing fast, easy and convenient service to help its clients accumulate wealth, generate income and achieve financial security.
As of September 30, 2019, Empire Life had total assets under management of $18.1 billion.
Since its inception, the Company has continued to grow by expanding its services into other Canadian provinces, merging with other companies and acquiring additional portfolios of insurance policies.
Distinction
Empire Life is frequently ranked among the top 10 life insurance companies in Canada.
Named Canada's Life and Health Insurer of the Year in 2019 for the second consecutive year, Empire Life also won this honour in 2016.
The Company was also named Canada's Best Life Insurance Company in 2013.
Corporate citizenship
Empire Life is committed to making a difference in the communities where our employees, clients and distribution partners live and work.
Each year, they support these communities through charitable donations, employee volunteerism, in-kind donations and sponsorships.
To do so, their community investment is targeted in four key areas: medical research and health care, education, community well-being and the arts.
In 2019, Empire Life raised $273,000 in its annual campaign for the United Way. In fact, the Company, with the help of its current and retired employees, reached $4 million in donations in 2018 since its inception.
Empire Life or Emma: which should you choose in 2026?
In short: Empire Life’s Solution Series offers 10 to 30-year terms that can last for life (paid up at 100) and is sold through advisors. Emma is a brokerage firm whose term policy is issued by Humania Assurance, with any term from 10 to 35 years and an online application. For $500,000 over 20 years, non-smoker, Emma's grid is lower at 30; at 40, Emma is lower for a woman and the two premiums are equal for a man; at 50, Empire Life's premium is lower. Empire Life also lets you convert until 75, versus 65 with Emma.
Disclosure: Emma publishes this page. Emma distributes Emma term life insurance (issued by Humania Assurance) and, through its advisors, products from other insurers, including Empire Life. We therefore have a commercial interest in both options. We only compare published, dated facts.
Empire Life and Emma at a glance
| What to compare | Empire Life | Emma |
|---|---|---|
| Who issues the policy | The Empire Life Insurance Company | Humania Assurance (Emma term); other insurers through advisors |
| Term lengths | ART (yearly), 10, 15, 20, 25 or 30 years (Solution Series) | 10 to 35 years, in one-year steps |
| Renewal | Lifetime coverage, paid up at 100; Solution 20: last increase after 65 | Yearly to age 80, no evidence of insurability |
| Conversion to permanent | Up to the policy anniversary nearest age 75 | Up to age 65 |
| Exchange for a longer term | Solution ART, 10, 15 or 20 only: to a term at least 10 years longer, within the first 7 policy years | Once, between the 1st and 5th anniversary |
| Coverage amount | $25,000 to $20,000,000 (Solution 10 to 30; from $10,000 for issue ages 66+) | $50,000 to $5,000,000 |
| How to apply | Through an advisor | Online quote and application, with advisors if you want one |
| Published premiums | No grid on the page we read | Yes, 2026 grid by age, term and amount |
Empire Life or Emma: which costs less?
For $500,000 over 20 years, non-smoker, Emma's grid is lower at 30; at 40, Emma is lower for a woman and the two premiums are equal for a man; at 50, Empire Life's premium is lower.
| Profile | Emma (2026 grid) | Empire Life (Solution 20) |
|---|---|---|
| Woman, 30 | $19.35 | $19.80 |
| Man, 30 | $27.45 | $27.90 |
| Woman, 40 | $31.95 | $32.40 |
| Man, 40 | $43.20 | $43.20 |
| Woman, 50 | $87.75 | $81.00 |
| Man, 50 | $126.45 | $119.70 |
Sources: Emma 2026 term life rate grid, policy fee included; Solution 20 (Empire Life), monthly premiums shown on term4sale.ca (Compulife), regular health, non-smoker, Quebec, read November 4, 2026. A published example is not a quote: your premium depends on your answers and on the insurer accepting your application.
Good to know: if Empire Life suits you better, you do not need to find another advisor. Emma advisors can present Empire Life products and compare them with other insurers.
Choose Empire Life if...
- You are 50: in our comparison, Empire Life’s Solution 20 is lower than Emma’s grid.
- You want term coverage that can last for life (paid up at 100) without switching policies.
- You want to be able to convert until 75 (65 with Emma).
Emma is the better fit if...
- You are 30: Emma’s grid is slightly lower ($0.45 a month apart in our comparison).
- You want a custom term (10 to 35 years, one-year steps).
- You want to see your price and apply online.
Spotted something wrong or out of date on this page? Email editorial@emma.ca and we will fix it. Comparison checked November 4, 2026.
Empire Life's Life Insurance Products
In addition to diversified insurance products, Empire Life offers several investment products. Empire Life's insurance focus is on life insurance, group insurance and critical illness insurance.
Life Insurance
Empire Life offers a range of traditional life insurance products: term life insurance and permanent life insurance.
Term Life Insurance
The company offers term life insurance with terms of 10, 15, 20, 25 or 30 years, as well as annually renewable term life insurance.
Whether you're a young family looking for affordable protection for your loved ones, a business owner looking to cover start-up costs related to your project, or a homeowner looking for insurance to cover your mortgage, Empire Life has a product that's right for you.
Solution 10
Solution 10 is a coverage offering guaranteed premium rates that increase every 10 years. The product also has a unique feature: the last increase in your premium occurs after age 75. Solution 10 offers you peace of mind thanks to level premiums for 10 years.
This product is suitable for :
- Families who want to cover the last years of their mortgage.
- Small business owners who want to cover the costs related to the start-up and maintenance of their project.
- Young families looking for a low-cost insurance policy.
Solution 20
With Solution 20, your rates increase every 20 years. The last increase will take place after age 65. As you approach retirement, this will give you peace of mind knowing that the cost of your insurance will remain the same.
This product is suitable for, among other things:
- Families who want to cover the last years of their mortgage.
- Small business owners who want to cover the costs related to the start-up and maintenance of their project.
- People looking for low-cost protection that offers flexibility for their future.
Solution 30
This is the longest term life insurance policy offered by Empire Life. It provides 30 years of coverage at a guaranteed rate. Whether you're planning to buy a home or have children, Solution 30 will be there to protect you.
Among other things, this product is suitable for :
- Families who want to cover the last years of their mortgage
- Young families with young children
- People looking for low-cost protection that offers flexibility for their future
YRT Solution
The Yearly Renewable Term Solution (YRT) offers guaranteed premium rates with no increase for the first three years of your policy. Thereafter, the rates increase each year until the premium renewal when you turn 85. This is a special term life insurance product that is suitable for more specific situations.
This product is suitable for, among other things
Smokers who want to quit smoking to take advantage of lower non-smoker rates by converting their coverage to long-term life insurance in the future.
Small business owners who want an affordable life insurance solution to protect a short-to-medium-term business loan.
Young parents with minor children who need low-cost life insurance that fits their limited budget, but who want to upgrade their coverage to permanent life insurance when their income increases.
Permanent life insurance
The classic insurance product offering you protection throughout your life.
Solution 100
Solution 100 is a non-participating permanent life insurance product offering lifetime coverage with monthly payments until you turn 100. Solution 100 life insurance also includes a cash surrender value and a paid-up value beginning after the fourth year of your insurance coverage.
This product is suitable for :
- Families who want to cover the last years of their mortgage
- Older people looking to protect their estate for their heirs.
- Young children needing long-term value now.
- Individuals who want insurance that is easy to understand, affordable and can be integrated into a variety of financial planning strategies.
Guaranteed Life Protection
Guaranteed Life Protection offers protection for life. The amount of your coverage will never decrease as long as you pay the insurance premiums. Empire Life will pay the death benefit to the beneficiary(ies) if the Life Insured dies while the policy is active. The time at which the death of the Insured would occur will be the factor affecting the amount of the death benefit.
- If death is due to natural causes and occurs within the first 24 months after the effective date of the insurance policy, the death benefit will be limited to the amount of premiums you have paid during the period since your coverage began, without interest.
- If death is caused by an accident and occurs within the first 24 months after the effective date of the policy, Empire Life will pay the principal sum of the policy, under certain conditions.
- If death occurs after the first 24 months of your policy, Empire Life will pay the principal sum insured under the policy regardless of the cause of death.
This product is suitable for:
- Mature individuals who want to cover certain expenses without having to answer questions about their health.
- People who have been denied life insurance coverage in the past.
- People who want to buy life insurance quickly, without risk assessment questions.
Participating permanent life insurance
Empire Life offers participating permanent life insurance products that will protect your estate while providing you with the opportunity to share in the company's profits.
Empire Life offers two participating permanent life insurance plans:
Optimax
Optimax allows you to grow your assets over a short period of time through guaranteed surrender values and the accumulation of annual dividends.
This product is suitable for, among others:
- Parents and grandparents who want insurance protection and financial assistance for a child preparing for school.
- Retirees who wish to preserve their estate or leave a legacy to their heirs or to a cause close to their heart.
- Small business owners who need life insurance and who may require the cash surrender value of their policy in the early years.
Assurmax
Assurmax offers insurance protection for your entire life. Your insurance policy could benefit from annual dividends that you could then decide to receive in cash, use to increase your life insurance amount, invest in your savings or pay your insurance premiums.
This product is suitable for, among others:
- Young families looking for affordable permanent life insurance with a long-term cash value.
- Small business owners who need life insurance and may require cash value in the early years.
- Retirees who wish to preserve their heritage or leave a legacy to their heirs or to a cause close to their heart.
Group Insurance
Empire Life also insures businesses and their employees. Insuring 90% of companies with 2 to 200 employees, Empire Life is committed to small business issues.
Empire Life: frequently asked questions
How much does Empire Life term insurance cost?
Empire Life does not publish a rate grid on the page we read. On term4sale.ca (Compulife), read November 4, 2026, Solution 20 for $500,000 costs $19.80 a month for a 30-year-old non-smoking woman and $27.90 for a man, in regular health. Your premium depends on your answers.
Can I buy Empire Life insurance through Emma?
Yes. Emma advisors can present Empire Life products, including the Solution Series, and compare them with Emma term life insurance and other insurers for the same amount and term.
Does Empire Life term insurance end when the term ends?
No. According to Empire Life’s product guide (October 2026), Solution coverage lasts for life and becomes paid up at the policy anniversary nearest age 100. For Solution 20, the premium goes up every 20 years, the last time after age 65.