We've previously discussed business insurance on our blog, and in this post we’ll explore another type of essential coverage: life, term, and critical illness insurance.

Affiliate disclosure: This page contains affiliate links. If you use them, we may earn a commission at no additional cost to you. That helps support our content.

PolicyMe (www.PolicyMe.com) is a Canadian insurance provider that helps Canadians shop for term life, critical illness, and health and dental insurance online. In this post, I’ll review the company to help you decide whether it’s the right fit for your needs.

Check if you qualify with PolicyMe:

The options below may include referral links.

Choose the insurance policy you are interested in and see the rates you would qualify for.

> Term Life - Eligibility Questionnaire

> Critical Illness - Eligibility Questionnaire

> Health & Dental Insurance - Eligibility Questionnaire

• Corporate Name: PolicyMe Corp. (FSRA #36783M; AMF Client #3002916818)
• Website: https://www.policyme.com/
• Headquarters: 207 Queens Quay W, Suite 400, Toronto, ON M5J 1A7, Canada
• Available in: British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Prince Edward Island, Newfoundland and Labrador, Nova Scotia, Quebec (Insurance of Persons), Yukon, Northwest Territories, Nunavut
• Google Reviews: ~4.9/5 (count changes over time)
• Reviews.io: ~4.82/5 (863 reviews)
• Glassdoor: ~4.3/5 (39 reviews)
• BBB: A+ rated (see profile)
• Reddit: Discussion thread (mixed experiences, generally helpful comparisons)

As you can see from the above ratings, the review sentiment tends to be generally very positive across several third-party review sites, including Reddit, which is known for its tough audience. The positive comments on Reddit alone make me confident that the company is delivering quality services overall.

UPDATE: In February 2025, PolicyMe rolled out a refreshed brand and a redesigned website experience focused on smoother navigation and clearer quotes.

Note: Policies are issued by a Canadian insurer (Canadian Premier Life Insurance Company, operating as Securian Canada), while PolicyMe provides the online application and advisor support.

My Experience with PolicyMe Life Insurance: A Fresh Take on an Old Game?

For me, trying to find a life insurance policy in Canada always felt like trying to solve a Rubik's Cube: complex and frustrating, to say the least.

There was always a lot of paperwork involved, and complex terms that I didn't even understand. This was my mindset until I found out about PolicyMe, a beacon of simplicity in the convoluted and confusing life insurance industry. The application process felt simple, streamlined, and easy to understand.

As a relatively new player in the field of insurance policies, having launched its operations in 2018, PolicyMe seems to have redefined the process of getting a life insurance policy with a more modern, streamlined approach, similar to what Zensurance did for business insurance.

Why I Chose to Use PolicyMe

Want to compare your rate like I did? You can check your eligibility with PolicyMe here. For many applicants, it can be a much easier starting point than calling around or filling out long paper-based forms.

Before finding out about this company, I sifted through various forums and Reddit threads looking for life insurance options that didn't require a Ph.D. to understand. PolicyMe stood out not just for its digital-savvy approach but also for its promise of simplicity, speed, and competitive pricing. Below is an example of the cost of a life insurance policy for a 20 year old non-smoker female applicant with $450,000 in coverage.

When I started filling out the form on the PolicyMe website, the process was as breezy as a walk in the park. The online application was intuitive and took barely 20 minutes to complete, which is a stark contrast to the usual paperwork marathon that you have to go through when you choose traditional life and term insurance providers. It was refreshing not to wade through an ocean of documents or undergo a medical exam, which is a game changer for someone like me who values efficiency.

The Coverage Conundrum

PolicyMe offers term life insurance, which is the bread and butter of its offerings. The terms range from 10 to 30 years, providing flexibility depending on your stage in life. For me, choosing a 20-year term was a no-brainer because it aligned with my goal of providing security for my family without the commitment of a lifetime policy.

However, it’s important to note that PolicyMe currently doesn’t offer permanent life insurance or whole life options. For some people, this might be a deal-breaker, but for those who see life insurance as a temporary bridge rather than a permanent safety net, PolicyMe can still be a strong fit.

The Downsides

No rose garden is without its thorns, and PolicyMe is no exception. One of the main drawbacks is its limited range of policy types. Additionally, the lack of permanent life insurance options may steer away those who prefer lifelong coverage.

Moreover, while the simplicity of PolicyMe is commendable, the impersonal nature of handling everything online might not sit well with everyone. In moments of grief, having a familiar voice on the other end of the line can be comforting, and digital-first solutions do not always deliver that same feeling.

Final Thoughts

For me, finding out about PolicyMe felt like stepping into a new era of life insurance, one marked by simplicity, transparency, speed, and adaptability. While it might not be the perfect fit for everyone, especially those looking for more comprehensive coverage options, it’s a strong choice for Canadians who appreciate modern conveniences and a straightforward online process.

🔎 Compare your options now with PolicyMe:
Get your personalized quote in under 2 minutes

As life insurance goes, PolicyMe is like a well-oiled machine in an industry that often still runs on older systems. It’s not for every journey, but for those on a specific path, it might be exactly what they need. Before you move ahead with this or any other insurance provider, weigh your options carefully and think about the coverage that fits your life best.

I highly recommend that you compare PolicyMe's rates with at least a couple of other life, term, and critical illness insurance providers in Canada to make sure you are getting the best deal. Some other noteworthy Canadian providers include Desjardins Insurance, Sun Life, RBC Insurance, and TD Insurance.

FAQ About PolicyMe

Q1: What types of insurance does PolicyMe offer? PolicyMe specializes in term life insurance, critical illness insurance, and health and dental insurance.

Q2: How can you get a quote from PolicyMe? Getting a quote from PolicyMe is quite simple. You visit the website, answer a few quick questions about your insurance needs, adjust your coverage amount and term, and you can view quote options online.

Q3: What is the application process like with PolicyMe? Quite efficient, in my opinion. Many applicants can complete the application process online in less than 20 minutes. Most do not need a medical exam, and once you’re approved, you have 90 days to activate your policy.

Q4: Is there a benefit to applying with a partner? Yes, if you apply with your partner, PolicyMe offers a 10% discount on your first year’s life insurance premiums. It’s a nice perk for couples looking to manage their life insurance together.

Q5: Why might PolicyMe be a good choice for insurance? PolicyMe offers competitive pricing and fully underwritten policies, which means the coverage is tailored more precisely to the applicant. The process is entirely online, which can save a lot of time and hassle.

Q6: Does PolicyMe offer coverage for children? Yes, when you sign up for life insurance through PolicyMe, they provide $10,000 of free coverage for each of your children. This may appeal to families who want extra peace of mind.

Q7: How quickly can you get approved by PolicyMe? PolicyMe’s process is quite fast. Many customers complete their application in less than 20 minutes and may receive immediate approval, so you can know quickly whether coverage is available to you.

Q8: Are there other discounts or promotions? The primary advertised discount is for couples applying together, but it’s always worth checking the site for any updated promotions, especially if you’re planning to buy more than one type of policy.

Q9: What should you consider before choosing PolicyMe? Think about what kind of insurance you need and how comfortable you are with an online-first experience. PolicyMe’s offerings are strong for term and critical illness insurance, but they do not offer permanent life insurance options.

Q10: Where is PolicyMe available? PolicyMe operates in several Canadian provinces and territories, including British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Prince Edward Island, Newfoundland and Labrador, Nova Scotia, Quebec (for Insurance of Persons), Yukon, Northwest Territories, and Nunavut.

Check if you qualify with PolicyMe:

Choose the insurance policy you are interested in and see the rates you would qualify for:

• Term Life - Questionnaire
• Critical Illness - Questionnaire
• Health & Dental Insurance - Questionnaire