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Empire Life
The Empire Life Insurance Company, operating as Empire Life (french: Empire Vie), is a Canadian life insurance and financial services company headquartered in Kingston, Ontario. It was incorporated in 1923 and is a subsidiary of E-L Financial Corporation Limited of Toronto, Ontario, Canada. The company provides individual life, health and investment products as well as group life and health products through independent distribution partners including financial advisors, management general agents, national account firms and employee benefit producers. Empire Life is the parent company of Empire Life Investments Inc., a Canadian investment management company launched in 2011. Empire Life has grown to become one of the top 10 life insurance companies in Canada and one of Canada's best employers. History and ownership Empire Life was founded in 1923 by Milton Palmer Langstaff. In 1929, Empire Life merged with The Commonwealth Life and Accident Insurance Company. This merger ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Subsidiary
A subsidiary, subsidiary company or daughter company is a company owned or controlled by another company, which is called the parent company or holding company. Two or more subsidiaries that either belong to the same parent company or having a same management being substantially controlled by same entity/group are called sister companies. The subsidiary can be a company (usually with limited liability) and may be a government- or state-owned enterprise. They are a common feature of modern business life, and most multinational corporations organize their operations in this way. Examples of holding companies are Berkshire Hathaway, Jefferies Financial Group, The Walt Disney Company, Warner Bros. Discovery, or Citigroup; as well as more focused companies such as IBM, Xerox, and Microsoft. These, and others, organize their businesses into national and functional subsidiaries, often with multiple levels of subsidiaries. Details Subsidiaries are separate, distinct legal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Annuity (finance Theory)
In investment, an annuity is a series of payments made at equal intervals.Kellison, Stephen G. (1970). ''The Theory of Interest''. Homewood, Illinois: Richard D. Irwin, Inc. p. 45 Examples of annuities are regular deposits to a savings account, monthly home mortgage payments, monthly insurance payments and pension payments. Annuities can be classified by the frequency of payment dates. The payments (deposits) may be made weekly, monthly, quarterly, yearly, or at any other regular interval of time. Annuities may be calculated by mathematical functions known as "annuity functions". An annuity which provides for payments for the remainder of a person's lifetime is a life annuity. Types Annuities may be classified in several ways. Timing of payments Payments of an ''annuity-immediate'' are made at the end of payment periods, so that interest accrues between the issue of the annuity and the first payment. Payments of an ''annuity-due'' are made at the beginning of payment period ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
In-kind
The term in kind (or in-kind) generally refers to goods, services, and transactions not involving money or not measured in monetary terms. It is a part of many spheres, mainly economics, finance, but also politics, work career, food, health and others. There are many different types of in kind actions throughout the mentioned branches, which can be identified and distinguished. In-kind contributions An in-kind contribution is a non-cash contribution of goods or a service. Those are either offered free or at less than usual charge for them. Similarly, when a person or entity pays for services on the committee’s behalf, the payment is also considered as an in-kind contribution. In-kind services and contributions are valued at their fair market value or at their actual cost. In other words, they are valued at what you would pay for them if they were not donated. There are two types of receivers of in-kind contributions: individuals and companies. For individuals, the provider of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Volunteering
Volunteering is a voluntary act of an individual or group freely giving time and labor for community service. Many volunteers are specifically trained in the areas they work, such as medicine, education, or emergency rescue. Others serve on an as-needed basis, such as in response to a natural disaster. Etymology and history The verb was first recorded in 1755. It was derived from the noun ''volunteer'', in 1600, "one who offers himself for military service," from the Middle French ''voluntaire''. In the non-military sense, the word was first recorded during the 1630s. The word ''volunteering'' has more recent usage—still predominantly military—coinciding with the phrase ''community service''. In a military context, a volunteer army is a military body whose soldiers chose to enter service, as opposed to having been conscripted. Such volunteers do not work "for free" and are given regular pay. 19th century During this time, America experienced the Great Awakening ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Donations
A donation is a gift for charity, humanitarian aid, or to benefit a cause. A donation may take various forms, including money, alms, services, or goods such as clothing, toys, food, or vehicles. A donation may satisfy medical needs such as blood or organs for transplant. Charitable donations of goods or services are also called ''gifts in kind''. Donating statistics In the United States, in 2007, the Bureau of Labor Statistics found that American households in the lowest fifth in terms of wealth, gave on average a higher percentage of their incomes to charitable organizations than those households in the highest fifth. Charity Navigator writes that, according to Giving USA, Americans gave $298 billion in 2011 (about 2% of GDP). The majority of donations were from individuals (73%), then from bequests (about 12%), foundations (2%) and less than 1% from corporations. The largest sector to receive donations was religious organizations (32%), then education (13%). Giving h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Group Insurance
Group insurance is an insurance that covers a group of people, for example the members of a society or professional association, or the employees of a particular employer for the purpose of taking insurance. Group coverage can help reduce the problem of adverse selection by creating a pool of people eligible to purchase insurance who belong to the group for reasons other than the wish to buy insurance. Grouping individuals together allows insurance companies to give lower rates to companies, "Providing large volume of business to insurance companies gives us greater bargaining power for clients, resulting in cheaper group rates." Group insurance may offer life insurance, health insurance, and/or some other types of personal insurance. Characteristics of group insurance Investopedia defines group life insurance as "Life insurance offered by an employer or large-scale entity (i.e. association or labor organization) to its workers or members. " Group life insurance is typically offe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mutual Fund
A mutual fund is a professionally managed investment fund that pools money from many investors to purchase securities. The term is typically used in the United States, Canada, and India, while similar structures across the globe include the SICAV in Europe ('investment company with variable capital') and open-ended investment company (OEIC) in the UK. Mutual funds are often classified by their principal investments: money market funds, bond or fixed income funds, stock or equity funds, or hybrid funds. Funds may also be categorized as index funds, which are passively managed funds that track the performance of an index, such as a stock market index or bond market index, or actively managed funds, which seek to outperform stock market indices but generally charge higher fees. Primary structures of mutual funds are open-end funds, closed-end funds, unit investment trusts. Open-end funds are purchased from or sold to the issuer at the net asset value of each share as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fund Of Funds
A "fund of funds" (FOF) is an investment strategy of holding a portfolio of other investment funds rather than investing directly in stocks, bonds or other securities. This type of investing is often referred to as multi-manager investment. A fund of funds may be "fettered", meaning that it invests only in funds managed by the same investment company, or "unfettered", meaning that it can invest in external funds run by other managers. There are different types of FOF, each investing in a different type of collective investment scheme (typically one type per FOF), for example a mutual fund FOF, a hedge fund FOF, a private-equity FOF, or an investment trust FOF. The original Fund of Funds was created by Bernie Cornfeld in 1962. It went bankrupt after being looted by Robert Vesco. Features Investing in a collective investment scheme may increase diversity compared with a small investor holding a smaller range of securities directly. Investing in a fund of funds may achieve gre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Segregated Fund
A segregated fund or seg fund is a type of investment fund administered by Canadian insurance companies in the form of individual, variable life insurance contracts offering certain guarantees to the policyholder such as reimbursement of capital upon death. As required by law, these funds are fully segregated from the company's general investment funds, hence the name. A segregated fund is analogous to the U.S. insurance industry " separate account" and related insurance and annuity products. Usage A segregated fund is an investment fund that combines the growth potential of a mutual fund with the security of a life insurance policy. Segregated funds are often referred to as "mutual funds with an insurance policy wrapper". Like mutual funds, segregated funds consist of a pool of investments in securities such as bonds, debentures, and stocks. The value of the segregated fund fluctuates according to the market value of the underlying securities. Segregated funds do not issue units ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Critical Illness Insurance
Critical illness insurance, otherwise known as critical illness cover or a dread disease policy, is an insurance product in which the insurer is contracted to typically make a lump sum cash payment if the policyholder is diagnosed with one of the specific illnesses on a predetermined list as part of an insurance policy. The policy may also be structured to pay out regular income and the payout may also be on the policyholder undergoing a surgical procedure, for example, having a heart bypass operation. The policy may require the policyholder to survive a minimum number of days (the ''survival period'') from when the illness was first diagnosed. The survival period used varies from company to company, however, 14 days is the most typical survival period used. In the Australian market, survival periods are set between 8 – 14 days. The contract terms contain specific rules that define when a diagnosis of a critical illness is considered valid. It may state that the diagnosis ne ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Permanent Life Insurance
Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person (often the policyholder). Depending on the contract, other events such as terminal illness or critical illness can also trigger payment. The policyholder typically pays a premium, either regularly or as one lump sum. The benefits may include other expenses, such as funeral expenses. Life policies are legal contracts and the terms of each contract describe the limitations of the insured events. Often, specific exclusions written into the contract limit the liability of the insurer; common examples include claims relating to suicide, fraud, war, riot, and civil commotion. Difficulties may arise where an event is not clearly defined, for example, the insured knowingly incurred a risk by consenting to an experiment ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
