Serenia Life Financial

What Serenia Life Financial does

Serenia Life Financial is a Canadian life insurer that operates as an alternate business name (DBA) of FaithLife Financial, headquartered in Waterloo, Ontario. The company sells life insurance (whole life, term 10/20/30, term to 100, and critical illness) and investment products (Guaranteed Interest Annuities and Single Premium Annuities) to individual Canadians, families, business owners, and parents/grandparents. It runs on a membership model in which policyholders are automatically enrolled as members and gain access to ancillary benefits such as Empathy loss support, Empathy LifeVault digital estate planning, scholarships, volunteer benefits, fundraising support, and bereavement counselling.

The underlying technology stack is a conventional web-based insurance platform: an online quote tool driving self-service lead capture, a member portal, and policy management surfaces, layered with a third-party digital legacy platform (Empathy LifeVault) launched in Canada in April 2026 with Serenia Life as the first Canadian partner. The Springboard platform supports the licensed advisor network with recruitment, onboarding, and business development tooling. There is no disclosed proprietary AI/ML capability, app, or API surface in the source data.

The business model is sales-led and advisor-driven, combining a Canada-wide licensed advisor network with an inside-sales quote-to-callback funnel and content marketing (educational articles, 'The Kinder Way' podcast, Instagram, email). Revenue is generated through recurring life insurance premiums (term, whole, term-to-100, critical illness) and interest-rate spreads plus administrative fees on GIA and SPA investment products. A first-year premium discount campaign (up to 25% off, up to $500) is used to drive acquisition. The company is privately held, with no disclosed funding rounds, no subsidiaries, and a 'grow-to-give' model that reinvests a portion of corporate earnings into member benefits. It maintains a 216% LICAT ratio (2023) and a 99.9% claims payout rate.

Name

Serenia Life Financial

Legal name

FaithLife Financial

Website

https://serenialife.ca

Company type

Private

Founded year

1930

Operating status

Operating

Headcount range

101–250 employees

Short description

Serenia Life Financial is a Canadian life insurer (DBA of FaithLife Financial) selling whole, term, critical illness, and annuity products to individual Canadians, families, and small businesses via a licensed advisor network and online quote-to-callback funnel, with a membership model bundling loss support, digital estate planning, and community benefits.

Ownership category

akta.pro rank

Headquarters

HQ city

Waterloo

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Life Insurance Premiums: Serenia Life generates revenue through term life, whole life, and term-to-100 life insurance policies. Premiums are paid monthly, quarterly, or annually depending on customer preference. Whole life policies include cash value accumulation and potential dividends.
2. Investment Products (GIA and Annuities): The company offers Guaranteed Interest Annuities (GIA) and Single Premium Annuities (SPA) as investment products, generating revenue through interest rate spreads and administrative fees.
3. Critical Illness Insurance: Critical illness insurance provides one-time payouts for covered conditions, adding to premium revenue streams.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Serenia Life Financial is a Canadian membership-based life insurer that sells whole life, term life (10/20/30 year), term-to-100, and critical illness insurance to individuals, families, and business partners. The company also offers investment products (Guaranteed Interest Annuities and Single Premium Annuities) and a member benefits program that includes Empathy loss support, Empathy LifeVault digital legacy planning, scholarships, fundraising support, volunteer benefits, wills assistance, and bereavement counselling.

Product overview

Serenia Life Financial is a Canadian life insurer offering a comprehensive portfolio of insurance and investment products. Their core offerings include Whole Life Insurance (with specialized plans for children, couples, and business partners), Term Life Insurance (Term 10, 20, and 30), Term to 100, and Critical Illness Insurance. Investment products include Guaranteed Interest Annuities (GIA) and Single Premium Annuities (SPA). The company differentiates through unique member benefits including Empathy (loss support), LifeVault (digital will and legacy planning), and various community-focused benefits like scholarships and volunteer support. The company operates on a membership model where policyholders automatically become members with access to these additional benefits.

Differentiator

Problem solved

Functional benefit

Brands

• Springboard: Advisor site for Serenia Life Financial advisors

Products and services

• Whole Life Insurance Permanent life insurance providing lifelong coverage with guaranteed death benefits and cash value accumulation through dividends, available to Canadian individuals and families.
• Term Life Insurance (Term 10, Term 20, Term 30) Temporary life insurance providing coverage for specific terms (10, 20, or 30 years) at affordable rates with flexibility to renew or convert to permanent coverage, for Canadian individuals seeking affordable temporary protection.
• Term to 100 Insurance Permanent term insurance offering coverage up to age 100 with level premiums for the lifetime of the policy, for Canadians who want lifetime protection without premium increases.
• Critical Illness Insurance Insurance providing a one-time, tax-free payout upon diagnosis of covered critical illnesses, intended to help cover treatment costs and living expenses for Canadian individuals.
• Child Life Insurance: Grow With Them Plan Whole life insurance for children offering guaranteed future coverage with cash value that grows over time, intended for parents and grandparents who want to lock in insurability and build long-term value.
• Couples Life Insurance Joint whole life insurance designed for couples, providing shared coverage under a single policy.
• Business Partners Life Insurance Joint whole life insurance for business partners to protect business continuity and provide financial security in case of a partner's death.
• Guaranteed Interest Annuity (GIA) Low-risk investment annuity offering guaranteed interest rates of up to 3.80% for a 5-year term with safety of principal, for Canadians seeking conservative retirement or savings vehicles.
• Single Premium Annuity (SPA) Annuity product allowing investment of a lump sum payment that grows tax-deferred and converts to retirement income, for Canadians funding retirement through a single-premium vehicle.
• Empathy Loss Support Award-winning loss support program providing emotional and practical assistance to members and beneficiaries navigating grief, delivered in partnership with Empathy.
• Empathy LifeVault Digital legacy planning platform for Serenia Life members to create and manage legal documents including Wills and Powers of Attorney, addressing low prevalence of estate planning among Canadian families.

Quantifiable outcome

• 99.9% of claims are paid out
• +3 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• EmpathycoreStrategic or Co-development Partner · 9 April 2026Empathy launched its digital legacy planning platform, LifeVault, in Canada starting with Serenia Life as the first Canadian partner. The platform helps families create and manage legal documents like Wills and Powers of Attorney, addressing the low prevalence of estate planning among Canadian families. This partnership represents Serenia Life's commitment to providing comprehensive member benefits and estate planning support.

Scale indicators5 records

Recent moves5 records

Expansion highlights6 records

Broad incumbents

• Manulife Financial: One of Canada's largest life insurers offering whole life, term life, critical illness, and annuities — overlaps Serenia's core product set but at significantly greater scale, brand, and digital distribution maturity.
• Industrial Alliance (iA Financial Group): Large Canadian life and wealth insurer with individual life, group benefits, and retirement products through advisors and digital channels — broader portfolio and scale than Serenia but directly competes across life, critical illness, and annuities.
• Sun Life Financial: Major Canadian life, health, and wealth insurer with comprehensive individual life and investment offerings — competes with Serenia across life insurance and retirement products while operating at much greater scale.

Direct peers

• Beneva: Canadian mutual insurer formed from the merger of SSQ and La Capitale, offering individual life, group benefits, and savings products — comparable mutual structure, advisor distribution, and individual life focus to Serenia.
• Co-operators Life Insurance: Canadian member-owned financial services group offering life, disability, and investment products with a community/membership orientation — analogous to Serenia's grow-to-give member benefits model and advisor distribution.
• Wawanesa Life: Canadian life insurer offering individual life and investment products through a regional advisor force — closely comparable mid-market, mutual-style positioning to Serenia with overlapping product mix.
• Assumption Life: Canadian mutual-style insurer offering life, health, and investment products with community and member benefits — directly comparable to Serenia's membership-style 'grow-to-give' positioning and advisor distribution in the Canadian market.
• ivari: Canadian life insurer focused on individual life insurance and segregated fund investment products distributed through a captive advisor network — a close structural match to Serenia's whole life + GIA/SPA offerings and Springboard-style advisor platform.
• Canada Life: One of Canada's largest life and health insurers offering whole life, term life, critical illness, and investment/annuity products through an advisor network — directly comparable to Serenia's product mix and distribution model, but at vastly greater scale.
• Empire Life: Canadian mid-sized life insurer offering individual life, group benefits, and wealth management through advisors — comparable middle-market positioning, advisor-led distribution, and similar product breadth to Serenia.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Instagraminstagram.com/serenialife
• Xx.com/serenialife
• Facebookfacebook.com/SereniaLife
• LinkedInlinkedin.com/company/serenialife

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Serenia Life Financial