Empire Life Announces New Service to Protect Customers Guaranteed Income

KINGSTON, ONTARIO--(Marketwire - Jan. 11, 2011) - The Empire Life Insurance Company (Empire Life) today announced a new service for Class Plus^® customers. The Excess Withdrawal Alert (EWA) service will protect Class Plus customer income from excess withdrawals that could cause their future guaranteed income to decrease. 

This no-cost, automatic service lets Class Plus customers know, through their advisor, if a withdrawal they have requested exceeds their annual limit. Advisors will then have the opportunity to explain the consequences of the excess withdrawal so customers can decide whether they want to proceed with the withdrawal or consider other options that wouldn't affect their guaranteed income.

"This new service has been designed with our customers and advisors in mind. Delivering value, simplicity and an opportunity to educate are top of mind," says Julie Yoshikuni, Vice-President, Retail Wealth Marketing. "The service allows both customers and advisors to keep financial plans on track in order to meet long-term financial goals."

"We've made several positive enhancements to Class Plus over the past year. Introducing the Excess Withdrawal Alert service reinforces our commitment to our customers, distribution partners and to Class Plus which we launched in 2008," adds Julie.

About Empire Life

A subsidiary of E-L Financial Corporation Limited and in business since 1923, Empire Life helps Canadians build wealth and protect their financial security with competitive individual and group life and health insurance, investment and retirement products. The Company's vision is to be the leading, independently-owned, Canadian financial services company committed to simplicity, being easy to do business with and having a personal touch.