Products
Serenia Life Financial offers a comprehensive suite of life insurance products to meet client’s unique insurance needs. Explore how our products can help clients achieve the financial security they are looking for.
Term Insurance
Serenia Life Financial Term insurance has been designed from the ground up with clients in mind. With many features and the opportunity to offer clients three term lengths – 10 years, 20 years, and 30 years – all packaged in a single product, Serenia Life Term insurance can help meet each client’s unique protection needs.
Benefits of Serenia Life Term Insurance:
One term product with three available term lengths
10 years, 20 years, and 30 years – By offering up to three term lengths on a single policy, clients are able to match their specific insurance needs by creating a customized insurance plan that works best for them
Convertible to any permanent life insurance policy
The convertibility option provides clients with peace of mind knowing that they can convert their term insurance into permanent insurance without answering any medical questions
Cost-effective and convenient insurance protection
Provides clients with an opportunity to protect their financial futures while balancing their long-term needs and goals
Preferred underwriting
Starting at $1,000,001 of insurance, preferred underwriting rewards your healthiest clients with even lower premiums
Optimized optional benefits
Clients have access to optional benefits that have been optimized to meet the needs of most Canadian families
Unique member benefits
We offer a suite of unique member benefits that encourage members to live generously and give back to their communities
Guaranteed renewal premiums that renew yearly
Provides clients with lower initial renewal costs compared to a traditional term renewal that renews for a set period of time – allowing clients to affordably extend their temporary coverage if they need to
Convertible to a longer-term length
Term-to-Term conversions offer clients the ability to convert their term insurance to longer-term coverage without answering any medical questions. Term 10 can be converted to both Term 20 and Term 30, while Term 20 can be converted to Term 30. This feature allows you to meet clients’ needs as they change over time
Term Insurance Marketing Materials
| Title | Reference Number | Date |
|---|---|---|
| Term Advisor Guide | ||
| Term Client Guide | ||
| Term Conversion Credit Program | 2022-12-06 | |
| Term Feature Overview | ||
| Term-to-Term Conversion |
Participating Whole Life Insurance
Serenia Life Whole Life insurance has been designed from the ground up with clients in mind. With many features such as guaranteed premiums, guaranteed death benefit and the opportunity to pay more than the required premiums with the Additional Deposit Option, Serenia Life Whole Life can help meet your client’s unique protection needs.
Benefits of Serenia Life Whole Life Insurance
Ability to access cash value
The ability for clients to access the cash value through a policy loan or withdrawal from their whole life insurance policy provides peace of mind knowing that they can access the cash values when they need them most.
Tax-advantaged growth
Whole life insurance provides a stable investment option for clients with tax-advantaged growth and is considered an exempt life insurance policy under the Income Tax Act (Canada).
Optimized optional benefits
Clients have access to optional benefits that have been optimized to meet the needs of most Canadian families.
Unique member benefits
We offer a suite of unique member benefits that encourage members to live generously and give back to their communities.
Flexible payment options
Serenia Life Whole Life insurance is available in two payment options, Life Pay or 20-Pay
Lifetime guarantees
Whole life insurance offers guaranteed premiums, guaranteed cash values and a guaranteed death benefit.
Potential to earn dividends
The opportunity for clients to be credited a dividend is one of the unique features of whole life insurance. The dividend can be used in a variety of ways such as buying additional paid-up life insurance, leaving it on deposit to earn interest, or getting the dividend sent directly to clients each year.
Make additional payments using Additional Deposit Option (ADO)
Clients can use the Additional Deposit Option to purchase additional paid-up insurance to increase the total death benefit and cash surrender value of their policy. By depositing an additional amount above the required premium, clients will benefit from this additional flexibility, allowing the client to potentially speed up the date in which their policy could qualify to go on premium offset.
Participating Whole Life Insurance Marketing Materials
Term to 100
Serenia Life Term to 100 is a great estate planning tool as it is designed to help cover final expenses, taxes and leave a little something extra for clients’ heirs if they choose to do so. Serenia Life Term to 100 offers clients a low-cost permanent protection plan with premiums that are level and guaranteed for life.
Benefits of Serenia Life Term to 100 Insurance:
Cost-effective and convenient insurance protection
Provides clients with low-cost permanent protection
Guaranteed Premiums
Clients’ premiums are level and guaranteed for life
Conversion
Clients who have a Serenia Life term policy can convert to this product without evidence of insurability, ensuring that their estate planning needs can be met
Optimized optional benefits
Clients have access to optional benefits that have been optimized to meet the needs of most Canadian families
Unique member benefits
We offer a suite of unique member benefits that encourage members to live generously and give back to their communities
Term to 100 Insurance Marketing Materials
| Title | Reference Number | Date |
|---|---|---|
| Term to 100 Advisor Guide | ||
| Term to 100 Client Guide | ||
| Term to 100 Feature Overview | ||
| Why Term to 100 Case Study |
Individual Savings Annuity
An Individual Savings Annuity (ISA) is an investment offered through the Canadian insurance industry. Similar to Guaranteed Investment Certificates (GICs), it offers payment at the maturity of the investment. Prior to maturity, it allows you to grow savings with a number of investment term options, including a daily interest account and various guaranteed interest accounts.
Benefits of the Individual Savings Annuity
Non-Registered, RRSP, TFSA, or RRIF accounts available
Provides clients with low-cost permanent protection
Estate Protection
- Funds left to a named beneficiary are not subject to probate fees
- Registered funds left to a spousal beneficiary continue to defer income tax until they are received as income
Potential bonus interest rate available totaling 0.75%
(Bonuses are not part of the policy contract and may be changed at any time)
- Account value of $50,000 – $99,999: 0.25% interest bonus
- Account value of $100,000 – $199,999: Additional 0.25% interest bonus
- Account value of $200,000+: Additional 0.25% interest bonus
Potential Creditor Protection
When you name an eligible or irrevocable beneficiary, the ISA may be safeguarded from creditors
No front-end charges
Ability to access the funds prior to the investment term being up
(Market Value Adjustment charges may apply if you surrender funds from a GIA before the end of its term)
Single Premium Immediate Annuity
A Single Premium Immediate Annuity (SPIA) is an investment offered through the Canadian insurance industry. If an inheritance, financial settlement, or your clients accumulated retirement savings leaves them with a substantial sum of money, our Single Premium Immediate Annuity (SPIA) can provide guaranteed lifelong income.
Benefits of the Single Premium Immediate Annuity
The SPIA provides regular income payments for life or for a specific term (period of time)
Choose an income schedule that suits the clients need
Monthly, quarterly, semi-annually or annually
Begin a SPIA with a minimum of $10,000
Income payments must begin within 10 months of your SPIA purchase
RRSP eligible
Income Options
Term Certain Annuity
Provides income for a specified term only
Single Life Annuity
- Provides income for life
- Can be issued with or without a guarantee period
Joint & Last Survivor Annuity
- Provides lifelong income for married couples
- Can be issued with or without a guarantee period
- Payments may be reduced upon first death
Performance and Rates
Serenia Life Financial offers a suite of insurance and investment products to meet client’s unique needs. Explore below the rates currently available within our insurance and investment products.
| Title | Reference Number | Date |
|---|---|---|
| Annual Investment and Management Fees | ||
| FlexLife 2 Monthly Performance Data | 2022-11-30 | |
| Fortress and Fortress 2 Monthly Performance Data | 2022-11-30 | |
| Interest Rates – Annuity And FlexLife 2 | SER370 | 2022-12-22 |
| Life & FlexLife 1 Contracts and Policy Loans | SER375 | 2023-01-01 |
| Premium Deposit Account Calculation Table | 2023-01-01 |