Flexible
As your needs change, so should your life insurance. Our policies give you the flexibility to do just that.
Customized
Life insurance that's customized to your needs, your life stage, and your budget? Yes, that's a thing.
Versatile
Want something a little extra? Beef up your life insurance with coverage options that further enhance your protection.
We bring clarity to life insurance so that you can feel configdent your family's financial future is protected - at a price you can afford today.
Why Serenia Life Financial?
Term 10
Coverage Length
10 Years
Coverage Amount
$500,000
Critical Illness Amount
$15,000
Policy Total
$40.44
/mth
Term 20
Coverage Length
20 Years
Coverage Amount
$500,000
Critical Illness Amount
$15,000
Policy Total
$42.67
/mth
Term 25
Coverage Length
25 Years
Coverage Amount
$500,000
Critical Illness Amount
$15,000
Policy Total
$55.23
/mth
Need to tweak your coverage?
Coverage Amount
$500,000
Coverage Amount
Min $50,000 - Max $10,000,000
Critical Illness Amount
$15,000
Critical Illness Amount
Min $0 - Max $50,000
Step 3: Select your personalized quote
$15,000
Critical Illness Amount
Min $0 - Max $50,000
$500,000
Coverage Amount
Min $0 - Max $10,000,000
How much coverage do you need?
Do you want financial protection in case you're diagnosed with a critical illness?
Seeking clarity on your coverage needs? Let us expertly guide you to find the ideal protection, tailored to bring you peace of mind."
Step 2: Coverage
November 20th, 1980
Date of Birth
When were you born?
Are you a smoker?
What was your sex assigned at birth?
Step 1: Tell us about yourself
Welcome to Serenia Life's Life Insurance FAQ. At Serenia Life, we are committed to ensuring you have the information you need to make informed decisions about protecting your future and your loved ones.
Frequently Asked Questions
What is life insurance?
A life insurance policy is a contract between you and an insurance company that guarantees your beneficiaries (i.e., the individuals and groups who will receive your life insurance payout) a lump sum payment upon your death. It can’t be cancelled as long as you pay the monthly or annual premiums (i.e., the amount you pay for an insurance policy) in full and on time. Finding the best life insurance in Canada is easier when you work with an experienced advisor who knows how to match your needs with the right kind of coverage.
What are the benefits of life insurance?
Life insurance offers a host of benefits, and can be personalized to play a number of roles in a family’s financial plan. Here are the top three ways life insurance pays off for Canadians:
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Asset protection – Your family won’t have to sell your home or cash in other investments if something happens to you.
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Continuation of financial goals – Money from a life insurance policy can pay for all kinds of life’s goals, such as retirement and your kids’ education.
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Freedom to enjoy life now – Knowing that your family and legacy are protected, you can spend a little more money today on living life and contributing to your community.
Personalize a life insurance plan that meets all of your needs with the help of an experienced insurance expert.
Are there tax advantages to getting life insurance?
What is a beneficiary, and why is it important to designate one?
What is a life insurance payout?
Who needs life insurance?
Life insurance benefits go directly to your beneficiaries, tax free. That means they can spend your entire gift any way they choose. This is a unique advantage because passing on other assets, such as a family cottage or investments, could result in a tax bill for your heirs. And if you purchase life insurance through a group policy, you may be able to pay with pre-tax dollars, making premiums even more affordable.
The beneficiary of a life insurance policy is the person who will ”benefit” from the coverage because they receive the lump sum payment from the insurance company. Pretty straightforward. You can choose to name more than one beneficiary. You can even list any charities you would like help financially, or co-borrowers who may inherit some of your debt. It’s important to designate someone who will see that your wishes are respected.​
A life insurance payout is the lump sum paid to your beneficiaries (i.e., the individuals and groups who will receive your life insurance benefits). In the case of term life insurance, the payout is a lump sum. In the case of whole life insurance, your beneficiaries receive a guaranteed lump-sum payout plus the value of the cash portion that has accumulated on your behalf. Whole life policyholders also have access to the cash portion of their coverage throughout their lifetimes to help with emergencies, post-secondary education expenses, or the cost of retirement living.​
The short answer? Everyone. Life insurance is often the bedrock of a financial plan because almost everyone can benefit from coverage at some stage in their lives. Young adults, new parents, professionals, even retired Canadians use insurance to protect their income and their assets. Getting even a small amount of coverage when you are young can help you qualify for larger amounts later. Premiums (i.e., the amount you pay for an insurance policy) are typically more affordable when you start early, too.
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