An investment that grows with your child
Buying a whole life policy for your child provides them with lifetime protection, and a cash value that grows over time. This investment component can be accessed later in life – to help pay for post-secondary education, a wedding, or a down payment on a home.
20-Pay Whole Life Policy benefits include:
- Serious potential for growth
- Only 20 years of payments, but a lifetime of protection
- Access to member benefits that support your family & community
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CRITICAL ILLNESS INSURANCE
A Lump-SuM Payment That Lets You Focus on What Matters Most
As Canadians, we’re lucky to have universal health care. But a serious illness can come with unexpected costs: time off work, travel for treatment, modifications to your home, or help with childcare.
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A serious illness can change everything
An unexpected diagnosis doesn’t just affect your health — it can impact your entire family. Time off work, extra expenses, and added stress can make a difficult situation even harder.
Most families aren’t financially prepared for this kind of disruption. Are you?
Here’s where critical illness insurance comes in
If you are diagnosed with a covered illness, you’ll receive a one-time, tax-free cash payment. You can use it however your family needs – to cover:
Mortgage or rent
Groceries and bills
Childcare or time off work
Travel for treatment or home modifications
Key Benefits
- ✔ Financial breathing room during a challenging time
- ✔ The ability to keep your home and lifestyle on track
- ✔ Support for your kids without added stress
- ✔ Tax-free, lump-sum payment
- ✔ Fast, simple claims process
Comprehensive Coverage
Coverage for a wide range of critical illnesses, including 26 adult illnesses and an additional 7 chilhood illnesses1.
Income Replacement
A tax-free, lump-sum payout means you may not have to dip into your savings to cover lost income or unexpected expenses.
Customized to Your Needs
Whether you want coverage for your entire career, payments with an end in sight or a renewable term, you've got options.
Money-Back Feature
For a few extra dollars a month, opt for extra peace of mind — knowing you'll get your money back if you never use your coverage.
The Flexibility to Choose
Use the payout however you see
fit — for unexpected travel or treatment, accommodations, hospital parking, or simply keeping up with your everyday expenses.
Unique Member Benefits
Support your family, your community, or a cause that you care about with our collection of unique member benefits2
Simple, Straightforward Protection
1.
Apply for coverage with our advisor(s)
2.
Get coverage customized to your needs
3.
Receive a payout, if needed
4.
Never need it? Get your money back with our money-back feature3
Families like yours are choosing peace of mind
Sarah's Story
“The payout gave me peace of mind. I didn’t have to stress about money while dealing with cancer. It let me choose what was best for my health and my family — not just what I could afford.”
Nearly 100 years of trusted service
34,000+ Members
across the country
Coverage Options
When it comes to critical illness coverage, you’ve got options. Not to mention, you can add a money-back feature, called a Return of Premium rider, to your plan at the time of purchase. Not sure which is right for you? Learn more about each term length below, or speak with a Serenia Life Financial advisor.
Term 20
This medium-term coverage is ideal for young families raising children, contributing to a mortgage, or paying off other debts. It’s also a great option for business owners with significant financial commitments.
Note that coverage automatically renews every 20 years, until age 75 when the policy expires.
Term to Age 75
This longer term coverage is ideal for those in their working years looking for protection until retirement. It’s also a great option for parents or grandparents who want to ensure their children or grandchildren are financially protected for the long term.
Note that your payments never change until coverage ends at age 75.
20-Pay Term to 75
This limited-pay, long-term coverage is ideal for young professionals, parents, high-income earners, or business owners who want longer coverage while locking in payments for a limited period
Note that your payments stop after 20 years, but coverage remains until age 75.
Money-Back Feature: Return of Premium Riders
No buyer’s remorse here! If you’re worried you may never use your Critical Illness Insurance coverage, you can pay a little extra to add a Return of Premium (ROP) rider3 onto your policy at the time of purchase – that means you‘ll get all of your money back if certain conditions are met.
If these are your concerns, you’ve got options:
Go for: Return of Premium on Surrender (ROPS)
How it works: If you cancel all or surrender part of your policy on or after the 20th policy anniversary, and before you receive a payout for a claim, you will get 100% of the money you invested into this policy back, without interest.
Product this is available with: Term to Age 75 (if purchased between the ages 18 to 50)
Go for: Return of Premium on Expiry (ROPE)
How it works: If your policy expires nearest your 75th birthday, and before you receive a payout for a claim, you will get 100% of the money you invested into this policy back, without interest.
Product this is available with: Term to Age 75 (if purchased between the ages 18 to 60) and 20-Pay Term to Age 75 (if purchased between the ages 18 – 50)
Go for: Return of Premium on Death (ROPD)
How it works: If you pass away before you receive a payout for a claim, your beneficiaries will get 100% of the money you invested into this policy back, without interest.
Product this is available with: Term 20 and Term to Age 75 and 20-Pay Term to Age 75
UP TO $500 IN SAVINGS!
Save on all first-year life insurance policies with Serenia Life.
See our terms and conditions below. 4
1 View a full list of covered illnesses
2 Serenia Life Financial’s member benefits and programs are not contractual. They are subject to change and maximum funding limits.
3 Get the money you paid for your coverage back in the event of policy surrender (ROPS), expiry (ROPE), or death (ROPD); Return of Premiums (ROP) are optional benefits available for an extra cost at the time a policy is issued. Not all ROPs are available for all coverage lengths; speak to a Serenia Life advisor for more information.
4 25% Off – Terms & Conditions: All critical illness insurance policies purchased will receive 25% off their first-year premium, up to $500. Clients paying monthly will have premiums waived for the first 3 months or up to $500, whichever comes first. Clients paying quarterly will have their first premium payment waived or reduced by $500, whichever comes first. Clients paying annually will have their first payment reduced by 25% or $500, whichever comes first. Once a written case is issued and qualifies for a first-year premium reduction, it will not be eligible to qualify again. Clients will be billed for this portion right from date of issue.
