What Is Serenia Life Doing to Keep Life Affordable for Canadians?

At Serenia Life, we’re on a mission to prove a life insurer can be kind. And we truly believe that trying our best to keep life affordable for Canadians and their families is one way to do just that. (No shrinkflation or price gouging here!)

Not surprisingly, many Canadians are looking for lower cost alternatives to their everyday spending. Which is precisely why Serenia Life is working on keeping things affordable. Here’s how we do it…

10 ways Serenia Life is helping to make life more affordable for Canadians

1. Member benefits valued at more than $5,500 per member

As a member-based organization, we share our profits with our members and their communities – through direction donations, fundraising initiatives, and a valuable Member Benefits program that supports our members, their families, and the causes they care about. Browse Benefits

2. Up to $400 back annually for Serenia Life volunteers

Being kind isn’t always free. Lucky for community-minded Serenia Life members, our Volunteer Benefit provides them with up to $400 every year to help cover volunteer-related expenses – like commuting costs, comfortable clothing and footwear, or even meals while on the road! View Volunteer Benefit

3. $2,500 post-secondary scholarships

We all know post-secondary education certainly isn’t getting any cheaper! But good news, Serenia Life student members who are enrolled in any year of their post-secondary education are invited to apply for a one-time $2,500 scholarship to put towards their college or university tuition. View Eligibility

4. Financial support for wills and powers of attorney (POA)

Lawyers can be pricey! Luckily, Serenia Life members can get up to $150 back if they hire a legal professional to draft or update their will or POA. Or, for no cost at all, members can use Empathy LifeVault™ to create a legal will and POA online, and securely store them in a digital vault.

5. Lower term prices – by up to 16.6%*

While everything else seems to be going up these days, Serenia Life recently reviewed our term life insurance prices to see where we could provide some cost savings to Canadians. We’re happy to say we were able to make quite a few reductions, ranging in savings from 7.9% to 16.6% for both smokers and non-smokers looking for Term 10, Term 20, or Term 30 coverage.

*as of May 4, 2026

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6. Claims approval rate consistently exceeds 99.9%

At Serenia Life, we understand that the person making a claim is not only grieving a loved one, but may also need help covering final taxes, outstanding debt, and funeral costs. That’s why we do everything in our power to ensure the claims process is efficient – and in 90% of cases, the beneficiary will receive their payout within 3 days of submitting required documents. Learn More

7. Award-winning loss support tool

The loss of a loved one is followed by a period of mourning – and a surprising number of administrative tasks that can include funeral planning, taxes, closing accounts, and so much more. That’s why Serenia Life partnered with Empathy – to provide grieving members and beneficiaries with a loss support service that helps them manage all of the challenges that follows a loss. Read About Empathy

8. Up to $1,000 towards bereavement counselling

Canadians coping with loss may turn to a mental health professional to help them navigate their grief. Unfortunately, mental health supports aren’t always financially accessible – which is why we provide Serenia Life beneficiaries with up to $1,000 to help cover bereavement counselling. Learn More

9. Affordable income replacement in the event of a critical illness

Some serious health diagnoses may require months of treatment or recovery, requiring extended time off work. Without an income coming in, covering day-to-day living expenses, making the mortgage payments, and other debt can prove challenging. That’s why Serenia Life recently launched one of the most comprehensive – and affordable – critical illness products in Canada.

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10. Up to 25% off all Serenia Life insurance products

With the goal of making things a little easier on everyone’s wallets, Serenia Life also offers up to 25% off first-year critical illness insurance or life insurance payments – up to a maximum of $500. This can often mean the first three months are free, helping Canadians ease into this new expense. More Info

Let us help

Serenia Life continues to do what we can to keep life affordable, which is why we routinely review our product pricing to ensure we remain fair and competitive. We also aim to ensure our Member Benefits program maintains its relevancy and value to our members as time goes on.

So if you’ve been on the fence about which Canadian life insurer is right for you and your family, it may be time to give “the kinder way to do life insurance” a try. Fill out the form below to book a no-obligation chat with a Serenia Life advisor.

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