Term life insurance
Typically sold in terms of 10, 20, or 30 years, a term life insurance policy expires at the end of the term and you have the option to renew it or let it expire. If there is a significant age difference between spouses, or one partner is close to a planned retirement date, an advisor may suggest different terms for each individual. For couples, this is a good option because you can tailor your individual policies to your unique needs at a good price.  

Permanent life insurance
Serenia Life offers a form of permanent coverage, called whole life insurance, that includes an investment component that grows over time. For a young married or common-law couple, the value of the cash portion could be substantial. When it comes to permanent life insurance, you have the choice of purchasing a single policy for each of you or a joint policy for both of you.  

Life insurance for couples
If you are looking for a budget-friendly option, Serenia Life’s Couples Insurance is significantly more affordable when compared to two individual policies, especially in cases where one partner is quite a bit older, has a health condition, or a risky job or hobby. Note that there is no payout until both partners have passed.

Regardless of which coverage you secure, life insurance should help cover the costs of whatever needs to be paid for, whether that’s funeral expenses, mortgage payments, raising children solo, income replacement, capital gains taxes triggered by the inheritance of the family cottage or second property, or leaving behind a legacy. 

Member Benefits 

As a member-based organization, Serenia Life shares a portion of their profits with the communities they serve. How? By organizing in-office fundraisers, directly donating to worthy causes, and offering a robust Member Benefits Program – from a free online will, to a $1,000 post-secondary scholarship, to help funding volunteer opportunities at home or abroad. 

Serenia Life does insurance differently with accessible pricing. 

Serenia Life regularly reviews its pricing to ensure their life insurance products are competitive and accessible to everyday Canadians. In fact, Serenia Life’s term life insurance products for younger Canadians (ages 25-40) looking for coverage up to $500,000 are priced so competitively that they fall in the top 5 best prices in Canada, according to WinQuote. Plus, Serenia Life offers a Term Conversion Credit program, where members who convert their term policy to whole life within the first five years actually get some of their money back. 

Why Serenia Life? 

Serenia Life is committed to serving members at every stage of their lives — by clearly explaining their products and services, and offering one-to-one guidance wrapped in kindness. Understanding a member’s needs, seeing their whole financial picture, and helping them achieve their goals is critical to protecting their financial future.  

Serenia Life makes it a priority to take care of their members so that they can take care of others. They do this by: 

• supporting the causes their members care about through the creation of programs and tools that encourage them to give back 

• empowering members to make a bigger impact on their community and the world — through outreach programs, donations, and seed funding for volunteers 

• providing a quick and easy claims process during one of life’s most challenging times 

Disclaimers: 

Cash values are accessible via a withdrawal, policy loan, or surrender. These may be subject to taxation and a tax slip may be issued. Accessing the policy’s cash value will reduce the available cash surrender value and death benefit.  

Serenia Life Financial’s member benefits and programs are not contractual. They are subject to change and maximum funding limits.  

Serenia Life Financial has partnered with Willful® to give members the opportunity to create their will and appoint power of attorneys (POAs) simply, quickly – and at no cost.  

Serenia Life Financial” is an alternate business name used by FaithLife Financial. 

*life insurance claims statistics 2018-2023