Formerly known as FaithLife Financial, Serenia Life Financial is a member-based financial services and insurance provider with nearly a century of history. Supporting over 30,000 members, Serenia Life offers a comprehensive range of insurance and investment services. Originally founded as a fraternal benefits organization serving the Lutheran community, it expanded its membership eligibility in 2004.
Community support is a fundamental value for Serenia Life. Over the past five decades, the organization has raised millions of dollars for charitable causes and contributed nearly a million volunteer hours through member-led fundraising events.
In 2021, FaithLife Financial underwent a rebranding to become Serenia Life Financial, accompanied by a redesign of many of its products. Presently, Serenia Life Financial provides a diverse array of life insurance solutions, including Term Life, Whole Life, Term to 100, and various investment options.
| COVERAGE $250,000 | MALE, NON-SMOKER $ PER MONTH | FEMALE, NON-SMOKER $ PER MONTH |
|---|---|---|
| TERM 10 for 30 years old | $15/month | $11/month |
| TERM 20 for 30 years old | $18/month | $14/month |
| TERM 30 for 30 years old | $27/month | $20/month |
Serenia Life boasts an efficient underwriting process, known for its leniency towards certain health conditions compared to other carriers.
Their children’s product stands out in terms of competitiveness, alongside excellent family-focused market solutions.
Competitive offerings include Term 10, Term 20, and Term 30 products, which come with outstanding member benefits tailored for young families.
However, due to its size, the company’s range of life insurance and living benefits products may not be as extensive as those offered by larger insurance companies.
| Term lengths & issue ages | Face amounts | Unique features | Optional benefits |
| Term 10: 18 – 75 Term 20: 18 – 65 Term 30: 18 – 55 | Minimum: ⦁ $50,000 for standard underwriting ⦁ $1,000,001 for preferred underwriting | ⦁ Bereavement Counselling Benefit ⦁ Compassionate Assistance Program | ⦁ Accidental Death Benefit ⦁ Child Term Benefit ⦁ Guaranteed Insurability Option ⦁ Total Disability Waiver |
| Issue ages | Face amounts | Unique features | Optional benefits |
| 30 – 80 | Minimum: ⦁ Ages: 30 – 64: $25,000 ⦁ Ages: 65+: $10,000 Maximum: • $2,000,000 Amounts over $2,000,000 may be available with special quoting | ⦁ Bereavement Counselling Benefit ⦁ Compassionate Assistance Program | ⦁ Accidental Death Benefit ⦁ Child Term Benefit ⦁ Guaranteed Insurability Option ⦁ Total Disability Waiver |
| Issue ages & minimum face amounts | Dividend options | Unique features | Optional benefits |
| Minimum: ⦁ Ages 0 – 64: $25,000 ⦁ Ages 65 – 80: $10,000 | ⦁ Paid-Up Additions ⦁ Accumulated Dividends ⦁ Cash | ⦁ Bereavement Counselling Benefit ⦁ Compassionate Assistance Program | ⦁ Accidental Death Benefit ⦁ Child Term Benefit ⦁ Guaranteed Insurability Option ⦁ Owner Waiver Premium Death and Disability ⦁ Total Disability Waiver |
Additional benefits includes Additional Deposit Option that allows clients to pay an additional premium to purchase paid-up life insurance on the policy. This optional payment is in addition to the required insurance premium. With Additional Deposit Option, clients can enjoy the potential of accelerated tax-preferred growth within their policy.
