The Empire Life Insurance Co. today announced further enhancements its Trilogy universal life product.

The enhancements represent the largest number of revisions to the product since Trilogy Universal Life was first introduced in September 2000. “A great universal life product just got better,” said Owen Rhoden, manager of life and health product marketing, in a release.

Better delivery of information is achieved through a completely revised client statement and new online investment information. The new, easy-to-read, graphic-enhanced client statement uses a precise rate of return that is calculated in real time with each transaction. Advisors now have access to the up-to-date online investment information (powered by globefund.com) through the Empire Life Web site.

Trilogy now offers an industry-leading fifth cost of insurance (COI) option — a 20-year term COI. Improved estate-planning capability and new investment options will broaden the market of Trilogy, said Rhoden. “We’ve made it even easier for advisors to provide their clients with the right solution for their needs.”

Designed to appeal to the growing number of Canadians with estate-planning needs, Trilogy now also includes a joint last-to-die feature, which reduces the cost of insurance premiums to zero upon the first death, alleviating that financial worry for the surviving party.

New investment enhancements to Trilogy include five portfolio investment options and two equity investment options (Canadian Equity Fund and Global Smaller Companies Fund). “Clients want low fees and actively managed funds — we’re able to provide both,” said Rhoden, adding that the new options are low maintenance from the advisor’s perspective.

“Our Segregated Funds have a proven performance track record for more than 40 years and follow a conservative, value-oriented investment management style. Adding these options to Trilogy allows us to offer a high-quality product that meets the needs of our customers,” Rhoden added.