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

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PolicyMe (www.PolicyMe.com) is a Canadian insurance provider that helps Canadians shop for term life, permanent (Guaranteed Issue) 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

> Guaranteed Issue (Permanent) Life - No Health Questions

> 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: All provinces and territories, including Quebec (Insurance of Persons)
• Google Reviews: ~4.9/5 (count changes over time)
• Reviews.io: ~4.8/5 (count changes over time)
• 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 (June 2026): PolicyMe launched Guaranteed Issue Life Insurance, its first permanent product, with no medical exam and no health questions. At the same time, it moved to a unified application: one application now evaluates you across every underwriting path, from fully underwritten term life to Guaranteed Issue, and returns the best offer you qualify for. You no longer need to guess which product fits you. More details below.

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 (see our Zensurance vs PROLINK comparison for more on that side of the market).

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

Term life insurance remains the bread and butter of PolicyMe's 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.

The big change since my original review: PolicyMe now offers permanent coverage too. Guaranteed Issue Life Insurance launched in 2026 with no medical exam and no health questions at all. Approval is guaranteed regardless of health history. Here's what it looks like at a glance:

• Coverage: $5,000 to $100,000 (ages 18 to 70), or $5,000 to $50,000 (ages 71 to 75)
• Permanent: coverage lasts for life, and level premiums stop at age 100 while coverage continues
• Built-in benefits: an accidental death benefit of 5x the death benefit (up to $250,000) covered from day one, a terminal illness advance of 75% of the death benefit after the waiting period, and $10,000 of coverage per eligible child
• Waiting period: non-accidental death is subject to a standard 24-month waiting period; accidental death is covered from day one
• Availability: all provinces and territories, including Quebec

To be clear, Guaranteed Issue is not for everyone. Because there's no medical screening, it costs more per dollar of coverage, and term life remains the much more affordable choice for most people. Guaranteed Issue makes sense mainly for those planning for funeral and final expenses, people who have been declined for traditional coverage, or anyone who wants permanent coverage with no medical hassle.

The best part is that you don't have to figure out which product fits you. PolicyMe's unified application evaluates you across every underwriting path and returns the best offer for your situation. If you qualify for the more affordable term coverage, that's what you'll be offered.

The Downsides

No rose garden is without its thorns, and PolicyMe is no exception. While the Guaranteed Issue launch fills the permanent coverage gap from my original review, its $100,000 ceiling means those looking for large whole life policies with cash value components will still need to shop elsewhere. And as with any guaranteed issue product, the 24-month waiting period on non-accidental death is something to factor in.

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. With the addition of Guaranteed Issue coverage and the unified application, it now serves a much wider range of Canadians than when I first reviewed it, from healthy applicants wanting affordable term coverage to those who have been declined elsewhere. It remains a strong choice for anyone who appreciates 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 making an informed decision. Some other noteworthy Canadian providers include Desjardins Insurance, Sun Life, RBC Insurance, and TD Insurance. And if you run a business, remember that personal life coverage is only half the picture; our small business insurance guide covers the other half.

FAQ About PolicyMe

Q1: What types of insurance does PolicyMe offer? PolicyMe offers term life insurance, Guaranteed Issue permanent 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 with real pricing before speaking to anyone.

Q3: What is the application process like with PolicyMe? Quite efficient, in my opinion. PolicyMe now uses one unified application that evaluates you across all underwriting paths, from fully underwritten term life to Guaranteed Issue, and returns the best offer you qualify for. Many applicants can complete it 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, and a couples discount is available on Guaranteed Issue as well. 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 on term life and a range of underwriting paths, which means 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. The Guaranteed Issue product also includes $10,000 of coverage per eligible child. 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: What is PolicyMe's Guaranteed Issue Life Insurance? It is a permanent life insurance product with no medical exam and no health questions, so approval is guaranteed regardless of health history. Coverage ranges from $5,000 to $100,000 depending on your age (issue ages 18 to 75), premiums are level and stop at age 100 while coverage continues for life, and it includes built-in accidental death, terminal illness, and child coverage benefits. Note that it costs more per dollar of coverage than term life and carries a standard 24-month waiting period on non-accidental death. It is mainly suited to final-expense planning and people who cannot qualify for traditional underwriting.

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 now covers both term and Guaranteed Issue permanent coverage, but if you want a large whole life policy with cash value, you will still need to look at other providers.

Q10: Where is PolicyMe available? PolicyMe operates in all Canadian provinces and territories, including Quebec (for Insurance of Persons).

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
• Guaranteed Issue (Permanent) Life - No Health Questions
• Critical Illness - Questionnaire
• Health & Dental Insurance - Questionnaire