Empire Life Insurance Review: Good Option for Smokers

Written by: Bonnie Stinson
Insurance Writer
Edited by: Helene Fleischer
Content Marketing Manager
Updated
December 10, 2025

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Key Takeaways
  • Empire Life is an insurance company based in Canada founded in 1923.
  • Empire Life is known for its good smoker rates, which penalize smokers less than other insurance companies. To qualify for Empire Life’s “preferred” smoker rates, smokers need to apply for $1 million or more in coverage.
  • Their Optimax Wealth product is known for its short-term (i.e. within 20 years) cash value growth (note dividends are not guaranteed).

Our Empire Life life insurance review (2025 update)

The Empire Life Insurance Company is a Canadian life insurance company that has been in operation since 1923. It's a privately owned company, meaning it is not beholden to shareholders. It's known for its stability, competitive life insurance policy rates for smokers, and its flagship Optimax Wealth product, which blends life insurance and a savings component. It also offers disability insurance and health insurance.

With around 600,000 customers across Canada, the company offers a range of products to suit various needs and preferences, including term life insurance, whole life insurance, and critical illness coverage.

Our rating for Empire Life: Our verdict  ★★★☆☆ (3.5)

Product
Rating
Average premiums*
Cost comparison
Solution
★★★★☆ (4.0)
$33.32/month
1% above industry average

‍* This figure reflects the typical costs for a non-smoking woman between the ages of 30-44 across a term length of 10-30 years for $500,000 of coverage.

Empire Life earns marks for its long-standing reputation and financial strength rating, but it lags in customer service. And while its insurance solutions are generally competitively priced, it shines in its rates for smokers. Overall, Empire Life is a solid provider, best suited to those who value reputation and flexible options over top-tier customer service and affordability.

Methodology

PolicyMe’s rankings are based on an independent, data-driven review of Canada’s best life insurance products and providers. 

Our analysis combines 450,000+ quotes for 50+ life insurance products with in-depth research on 20+ providers. We assigned each product a star rating out of five based on a mix of average pricing, Google Review scores, and shopping convenience, then ranked the results in 12 categories.

Rankings are determined first by star rating and then by price, with preference given to expert recommendations by PolicyMe’s team of life insurance advisors. Our findings are entirely data-driven and do not include paid placements, but should not be considered a substitute for personalized financial advice.

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Empire Life insurance: pros and cons

Pros

  • Stable, is one of the oldest companies in the Canadian insurance industry.
  • Preferred smoker rates are available for individuals with above-average health and a lower-risk lifestyle.
  • Empire considers marijuana users for non-smoker rates if there’s been no tobacco, nicotine, or e-cigarette use in the past 12 months.
  • The insurance claim payout rate is over 99% as of 2022.
  • Has a simple online application, you can get a quote online.

Cons

  • To qualify for preferred smoker status, you may need to provide fluids and do a nurse visit.
  • The investment components of their permanent policies can be complex and challenging to optimize.
  • Premium rates for this insurance provider are considered mid-range when compared to other companies.
  • Smoker rates are not the most affordable, but they seem to be consistently competitive (not preferred rates).
  • Preferred smoker rates are only applicable to individuals who purchase coverage exceeding $1 million.

Empire Life life insurance cost and value

Empire Life's standard smoking rates aren't the cheapest in Canada, at least for the rates we looked at, but they come out near the top. Their preferred smoker rates are very competitive. 

Here's a sample of Empire Life's Solution 20 term life insurance rates, for $500,000 in coverage, highlighting the changes in price with age, gender, and smoking status:

Company
Sex at birth
Average monthly premiums*
Cost comparison
Youths (18–29)
Female
$19/month
Costs 6% less than industry average
Youths (18–29)
Male
$27/month
Costs 4% less than industry average
Adults (30–44)
Female
$27/month
Costs 6% less than industry average
Adults (30–44)
Male
$37/month
Costs 5% less than industry average
Adults (45–59)
Female
$114/month
Costs 5% less than industry average
Adults (45–59)
Male
$162/month
Costs 6% less than industry average
Seniors (60+)
Female
$260/month
Costs 6% less than industry average
Seniors (60+)
Male
$369/month
Costs 5% less than industry average

* These figures reflect the average monthly cost for $500,000 of coverage for healthy, non-smoking individuals across a term length of 10-30 years.

** Compared to the average monthly costs for $500,000 of coverage for healthy, non-smoking individuals across a term length of 10-30 years and 26 term life insurance products.

Empire life insurance reviews and customer service

Empire Life has a strong reputation in the Canadian insurance market, but its customer feedback paints a mixed picture:

  • Google: 4.3
  • BBB Rating: N/A
  • Trustpilot: No score
  • Insureye: 1.2/5

These ratings highlight a contrast between generally positive reviews on Google and less favourable experiences reported on Insureye. While many policyholders are satisfied with their coverage and Empire Life’s reliability, others cite frustrations with customer support and claims handling. 

Overall, Empire Life’s service appears dependable but has considerable room for improvement, particularly in terms of consistency across different customers’ experiences.

Compare Empire Life to top Canadian life insurance companies.

Read Reviews

Empire Life life insurance products at a glance

Empire Life offers a focused selection of insurance products, with strong term life options and its flagship participating life insurance, Optimax Wealth. The tables below outline Empire Life’s core offerings, including term life, permanent whole life, and critical illness insurance:

Product
Coverage Options
Term Length
Key features
Solution ART
Up to $10M
1-year renewable
Annually renewable term coverage
Solution 10 / 15 / 20 / 25 / 30
Up to $10M
10, 15, 20, 25, 30 year terms
Level premiums, renewable and convertible
Solution 100
Up to $10M
Lifetime (to age 100)
Lifelong coverage with level premiums
Optimax Wealth
Flexible, depends on plan
Pay 8, 10, or 20 years, or Life Pay
Flagship whole life product
EstateMax
Flexible
Life Pay or limited-pay structures
Cash value via dividend options (not guaranteed)
Solution Series Permanent
(Non-Participating Whole Life)
Up to $10M
Lifetime (to age 100)
Simple whole life option with guaranteed premiums and limited cash value
Guaranteed Issue Life Protect Insurance
Up to $50,000
Lifetime
No medical exam or underwriting; permanent coverage; designed for applicants with health issues

If you choose to cancel your permanent policy, you can receive a partial cash surrender payment — less any fees you still owe.

Other insurance products from Empire Life

Rider / Add-on
Key Features
Critical Illness (CI) Protect / CI Protect Plus
Covers four major conditions (cancer, heart attack, stroke, coronary bypass); renewable to age 75; available as standalone or attached to term/whole life; includes a small $1,000 death benefit.
Waiver of Premium
Waives premiums if the insured becomes disabled.
Accidental Death & Dismemberment (AD&D)
Provides an additional payout for accidental death or qualifying injury.
Children’s Life Rider
Affordable life insurance coverage for dependent children.
Children’s Critical Illness (CI) Rider
Adds CI coverage for children under the parent’s policy.
Guaranteed Insurability Rider
Allows increasing coverage at future milestones without medical evidence.
Additional Deposit Option (ADO)
Available on participating whole life policies; allows extra deposits to boost cash value and dividends.

Empire Life also offers annuities and group benefits plans for business owners and small businesses.

How Empire Life life compares to other insurers
PolicyMe
Empire Life
Sun Life
Top-rated product
Term life insurance
Solution
Evolve Term Life Insurance
Rating
★★★★★ (5.0)
★★★★☆ (4.5/5)
★★★★☆ (3.5)
Average premiums*
$31.68/month
$36.72/month
$37.01/month
Cost comparison**
7% below industry average
5% less than industry average
8% above industry average
Term options
10–30 years
10–30 years
10–40 years
Coverage options
$100,000 – $5M
$50,000 – $10M
$50,000 – $25M
Renewable
✅
✅
✅
Convertible
✅
✅
❌
Great customer service
✅
✅
❌
Quote online
✅
❌
✅
Buy online
✅
❌
❌

* These figures reflect the average monthly cost for $500,000 of coverage for healthy, non-smoking individuals across a term length of 10-30 years.

** Compared to the average monthly costs for $500,000 of coverage for healthy, non-smoking individuals across a term length of 10-30 years and 26 term life insurance products.

Empire Life life insurance vs PolicyMe life insurance

Both insurers are well-established players in the Canadian market, but differ significantly in how they serve customers. Here’s how Empire Life and PolicyMe life insurance stack up:

Cost

Empire Life and PolicyMe are both competitively priced, but PolicyMe generally comes out as the more affordable option. Empire Life’s advisor-driven structure results in slightly higher premiums, whereas PolicyMe’s digital-first model helps keep costs lower.

Customer experience

Empire Life relies on its advisors, which can result in longer application timelines and reduced transparency for customers who are simply browsing. Additionally, it has mixed reviews across platforms, which raises concerns about its consistency.

PolicyMe stands out for its streamlined digital experience. Customers get fast quotes, approvals, and responsive online support. Users frequently report that the process is easy and provides peace of mind for their loved ones.

Industry reputation

Empire Life has been around for a long time and carries an A rating from A.M. Best. It has a solid track record for positive growth in participating whole life and dividend-paying policies.

PolicyMe is newer, but it's already a heavy hitter in the industry, with a strong reputation for transparency and reliability. 

The bottom line: Who should consider Empire Life?

Empire Life is an excellent option for smokers, offering fair, competitive prices, unlike many insurance companies that heavily penalize tobacco users. This makes it a particularly attractive choice if you’re looking for term coverage and fall into this category. 

While Empire Life also sells whole life insurance, most Canadians will find term life to be a more practical and cost-effective option, especially if they invest in their TFSAs and RRSPs, which can provide better returns and tax-free payment options.

FAQ: Empire Life Insurance Review

Want to learn more about other life insurance options? Here are more reviews of Canadian life insurance companies:

*** The life insurance premium rates in this article are based on publicly available figures as of December 2025.

Bonnie Stinson is an insurance writer and researcher in Toronto with a decade of experience producing helpful, accurate content for Canadians. They have published resources for some of Canada's most innovative and consumer-trusted companies in the health, legal, and fintech sectors. 

Bonnie Stinson is an insurance writer and researcher in Toronto with a decade of experience producing helpful, accurate content for Canadians. They have published resources for some of Canada's most innovative and consumer-trusted companies in the health, legal, and fintech sectors. 

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