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Product changes for |
Issue age expanded to 90 for CI Empire Life Concentric GIF 75/75 Effective July 11, 2022, Empire Life will be extending the maximum contract issue age for the CI Empire Life Concentric GIF (“Concentric GIF”) 75/75 contract to age 90 to provide older customers with a more cost-effective estate planning solution. |
To align with segregated fund industry best practices, we will also be reducing the maximum contract issue age for our Concentric GIF 75/100 contracts to age 80. Previously these contracts were available for issue until age 90; however, the contract was only issued with a 75% death benefit guarantee if the contract was opened after the annuitant’s 80th birthday.
The names for several Concentric GIF segregated funds will also be changed effective July 11th to reflect the new name of the underlying mutual fund. |
Restrictions on Deferred Sales Charge purchases for over age 80 Empire Life will also be restricting deposits into the Deferred Sales Charge (DSC) purchase option for all Concentric GIF contracts after December 31st of the year the annuitant turns 80. This change will apply to both existing Concentric GIF customers as well as new Concentric GIF contracts sold after this date.
For more information on these changes, please download the documents below: |
Concentric GIF offers the expertise of CI Global Asset Management Concentric GIF offers the expertise of CI Global Asset Management, managing investments across asset classes, geographies and market capitalization combined with the 50+ years of segregated fund expertise of The Empire Life Insurance Company. Visit ci.com/concentric for more information. |
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If you have any additional questions about this change, please contact our Customer Service Team at 1 800 561-1268 or speak to your |
Segregated Fund contracts are issued by The Empire Life Insurance Company (“Empire Life”). A description of the key features of the individual variable insurance contract is contained in the Information Folder for the product being considered. Any amount that is allocated to a segregated fund is invested at the risk of the contract owner and may increase or decrease in value. Please read the information folder, contract and fund facts before investing. Past performance is no guarantee of future performance. All returns are calculated after taking expenses, management and administration fees into account. ® Registered trademark of The Empire Life Insurance Company. CONCENTRIC is a trademark of The Empire Life Insurance Company. EMPIRE LIFE and the Empire Life logo are registered trademarks of The Empire Life Insurance Company. Certain names, words, phrases, graphics or designs may constitute trade names, registered or unregistered trademarks or service marks of CI Investments Inc. and are used with permission. CI Global Asset Management is a registered business name of CI Investments Inc.
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