Serenia Life Financial review
Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Serenia Life Financial suits Canadian households who want life and critical illness cover from the same insurer as their guaranteed annuity, and premiums of CAD 9 come with monthly payment options. Costs sit mid-field, with a cost score of 6.3 and an overall score of 6.3.
Key facts
- Best for
- Monthly term life premiums plus a guaranteed annuity from a Canadian fraternal insurer.
- Premium from
- CA$9↗
- Insurance types
- Life, Critical-illness↗
- Provider type
- Insurer↗
- Monthly payments
- Yes↗
- Claims channels
- Phone, Email, Post, Fax↗
- Age range
- 20-69↗
- Legal entity
- Serenia Life Financial, a Fraternal Benefit Society (formerly Faithlife Financial)↗
- Headquarters
- Canada↗
- Founded
- 1972↗
- Support channels
- Phone, Email↗
- Pricing model
- Monthly
- Official website
- serenialife.ca
Savings
- Headline rate
- 1% to 4.3%↗
- Rate type
- Fixed↗
- Term
- 9 to 60 months↗
- Access terms
- Funds can be accessed early; charges may apply if surrendered before the term ends↗
- Account kind
- Fixed↗
Facts checked September 26, 2026, 8 sources
Apps and profiles
Pros and cons
Pros
- Term life premiums of CAD 9 with monthly payments.
- Insurer founded in 1972 and based in Canada.
- Annuity rates of 1% to 4.3% on 9 to 60 terms.
- Claims accepted by phone, email and post.
Cons
- Premiums of CAD 9 sit above the site median of €8.31.
- Surrendering the annuity before the term ends can bring charges, so the 9 to 60 commitment carries an exit cost.
- Support runs on phone and email alone, narrower than the phone, email and post accepted for claims.
Who it suits
- Canadian adults in the 20-69 age band who want term life and critical illness cover from a fraternal benefit society.
- Households who prefer spreading the cost, with monthly payments on term life at premiums of CAD 9.
- Savers who can leave money locked for the full 9 to 60 term to hold a fixed rate of 1% to 4.3%.
Who should look elsewhere
- bunq, listed at €0, when the entry premium matters more than term life and critical illness cover.
- Linxea, at €25, for anyone budgeting in euros rather than Canadian dollars.
- bunq Spain, at €0, if paying no entry premium ranks above holding a policy with an insurer.
How Serenia Life Financial compares
9.2 vs 8.6
9.2 vs 9.4
9.2 vs 9.3
9.2 vs 9.4
9.2 vs 8.7
9.2 vs 8.5
9.2 vs 9.4
9.2 vs 8.7
9.2 vs 9.0
9.2 vs 8.7
9.2 vs 9.4
9.2 vs 9.2
9.2 vs 9.4
9.2 vs 9.4
9.2 vs 9.4
9.2 vs 8.7Lists a premium of €25, a euro figure that sits alongside the CAD 9 Canadian premium for euro budget holders.
9.2 vs 9.0
9.2 vs 8.8Its premium of €0 undercuts the CAD 9 entry point here, so it is worth a look when the starting price decides it.
9.2 vs 8.9
9.2 vs 8.9
9.2 vs 9.0
9.2 vs 8.3
9.2 vs 9.5
9.2 vs 9.4
9.2 vs 9.4
9.2 vs 9.4
9.2 vs 9.3
9.2 vs 9.3
9.2 vs 9.3
9.2 vs 9.3
9.2 vs 9.3
9.2 vs 9.3
9.2 vs 9.2
9.2 vs 9.2
9.2 vs 9.2
9.2 vs 9.2
9.2 vs 9.1
9.2 vs 9.1
9.2 vs 9.1
9.2 vs 9.1
9.2 vs 9.1
9.2 vs 9.1
9.2 vs 9.0
9.2 vs 9.0
9.2 vs 9.0
9.2 vs 9.0
9.2 vs 9.0
9.2 vs 8.9
9.2 vs 8.9
9.2 vs 8.9- 9.2 vs 8.6
9.2 vs 8.6
9.2 vs 8.5
9.2 vs 8.4
9.2 vs 8.3
9.2 vs 8.3
9.2 vs 8.2- 9.2 vs 8.0
Where Serenia Life Financial is available
- Available
- Canada
- Licence in Canada
- Superintendent of Insurance (provincial insurance regulators, Canada), checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What does term life cost?+
Term life premiums run from CAD 9, and monthly payments are available so the cost can be spread across the year. Serenia Life Financial is an insurer based in Canada, so the figure is set in Canadian dollars rather than euros or pounds.
Which kinds of insurance are on offer?+
The insurance types listed are life and critical illness, shown under life and critical illness. Both are written by the same member-owned benefit society that also issues the annuity range, and that body has traded since 1972.
Who regulates the insurer?+
Serenia Life Financial is licensed by the Superintendent of Insurance, the provincial insurance regulator in Canada. It is an insurer, insurer, operating in Canada, and the same entity issues the fixed annuity products alongside the cover.
What rate do I get on the guaranteed annuity?+
Annuity rates run 1% to 4.3% on fixed terms of 9 to 60. Funds can be accessed early, though charges may apply if you surrender before the term ends, so the account is fixed rather than easy access.
How do I make a claim?+
Claims can be submitted through phone, email and post, so you can file by post, fax, email or phone at the same insurer. Day to day questions run on phone and email, a smaller set of routes than the claims process uses.
Which term lengths are available?+
The fixed account runs for 9 to 60, against a site median term of 36. Longer terms hold the 1% to 4.3% rate for longer, and early access is possible, with charges that may apply before the term ends.
Is it available in the UK?+
Serenia Life Financial sits in CA and answers to provincial insurance regulators there, so its premiums are set in Canadian dollars. UK and European readers will find the CAD 9 entry premium quoted in a different currency from the euro options listed nearby.
Who does the policy suit?+
It fits adults in the 20-69 age band who want life and critical illness cover on monthly payments, plus savers who can lock money into a fixed annuity. It suits Canadian households rather than anyone shopping a euro life policy, where Linxea starts at €25.
Sources
- serenialife.ca checked September 26, 2026
Backs: Insurance types
“Whole Life Insurance / Term Life Insurance / Term to 100 / Critical Illness Insurance”
- serenialife.ca/contact-us checked September 26, 2026
Backs: Support channels
“Toll-Free: 1.800.563.6237 ... Email - Member Services: member.services@serenialife.ca”
- serenialife.ca/insurance/term-life-insurance/term-10-life... checked September 26, 2026
Backs: Provider type, Pricing model, Monthly payments, Premium from
“A trusted Canadian insurer whose roots go back nearly 100 years, Serenia Life offers”
- serenialife.ca/investments/investment-options/guaranteed-... checked September 26, 2026
Backs: Access terms, Rate type
“To access your own money early if you really need it before the term is up. Charges may apply if you surrender your funds before the term is up”
- serenialife.ca/investments/rates checked September 26, 2026
Backs: Account kind, Headline rate, Term
“Guaranteed Interest Annuity ... Rates are applicable to Serenia Life's GIA product.”
- serenialife.ca/learn/life-insurance-rate-by-age-chart-canada checked September 26, 2026
Backs: Age range
“Whole life insurance rates (cost) by age: Non-smokers ... 20-29 ... 30-39 ... 40-49 ... 50-59 ... 60-69”
- serenialife.ca/legal checked September 26, 2026
Backs: Founded, Headquarters, Legal entity, Licences
“incorporated by an Act of the Parliament of Canada on June 28, 1972”
- serenialife.ca/life-insurance-claim checked September 26, 2026
Backs: Claims channels
“Please reach out via phone, email, or regular mail to report the death of the policyholder.”
Compiled from 8 source pages, checked September 26, 2026. We did not open an account.
Serenia Life Financial
Monthly term life premiums plus a guaranteed annuity from a Canadian fraternal insurer.