PolicyMe Life Insurance is a modern life, health, and dental insurance option for Canadians. You'll get some of the most reasonable life insurance premiums in the country, and it's all done 100% online for extra ease of access. Choose from terms between 10 to 30 years, or its unique option of being covered until age 100 for essentially permanent coverage.
But if you're looking for universal or guaranteed acceptance life insurance, you won't find it here (though they do mention that most people get approved, even with pre-existing conditions). You also need to be under 75 years old to qualify for term life insurance.
PolicyMe Life Insurance features
Here's what PolicyMe Life Insurance has to offer:
Why You Want It
Save up to 20% on your life insurance + Get Child Coverage at no extra cost.
Special Features
- Near-instant approval
- 100% online application
- Save 10% off your policy for the first year when you apply as a couple and get child coverage at no extra cost with the purchase of any policy
- National availability
- Multiple terms available, including unique Term to 100 option
Eligibility
- Ages 18 - 80+
Provinces
ALL
Features
Term Life Insurance
Terms Available
- 10 years
- 15 years
- 20 years
- 25 years
- 30 years
- 100 years
Permanent Life Insurance
Guaranteed Acceptance Life Insurance
Universal Life Insurance
PolicyMe Life Insurance product rating: 3.1 stars
PolicyMe Life Insurance has a lot to offer Canadians who are looking for life, health, or dental insurance. And the best part is you'll find some of the cheapest policy rates in the country, which you can easily see by using the site's life insurance calculator. PolicyMe Life Insurance is available nationwide.
But if you're not a fan of online-only services or are looking for permanent or guaranteed life insurance, youll need to look elsewhere.
Rating methodology
To evaluate life insurance, we analyze over 10 data points to generate a trustworthy Genius Rating. We consider all aspects of a life insurance policy, including the range of terms, maximum premium, customizable options, customer satisfaction, and additional perks, to assess its overall value. Then, the life insurance policy’s features are rated based on how they stack up against other available options.
Learn more about our rating methodology.
The pros of PolicyMe Life Insurance
Here's what to look forward to when you're covered by PolicyMe Life Insurance.
Pros
Some of the lowest rates in Canada
PolicyMe Life Insurance is proud to offer some of the lowest rates in Canada, which you can test out yourself by using their easy-to-use calculator to get a life insurance quote in seconds.
Fast and simple application process
The streamlined application is completely online and usually gives instant results. This makes buying life, health, and dental insurance a lot less stressful.
Live support over the phone and through live chat
Insurance can be complicated. If you want a bit of expert advice while signing up, you can contact PolicyMe Life Insurance's advisors via live chat, or schedule a 15 or 30-minute phone consultation.
Convertible Term Life Insurance & National Availability
With term life insurance that can be renewed or converted and national availability, PolicyMe Life Insurance is an extremely convenient option.
The cons of PolicyMe Life Insurance
And here's something to keep in mind when considering PolicyMe Life Insurance life insurance:
Cons
No in-person support
PolicyMe Life Insurance focuses mainly on term insurance, which means it bypasses guaranteed acceptance and universal life insurance altogether. It does offer a unique Term to 100 product that's helpful for those with long-term dependents or health complications.
PolicyMe Life Insurance alternatives
So how does PolicyMe Life Insurance differ from other life insurance providers on the Canadian market? Here's a side-by-side comparison:
 |  |  | |
|---|---|---|---|
| Account | Sun Life Go Life Insurance | Walnut | Oaken Savings Account |
| Genius Rating | |||
| Why You Want It | Get temporary coverage for 90 days + Cancel within 30 days for refund. | Get up to $1M in coverage in minutes + Premiums starting at $10 a month. | Earn up to 2.8% interest on your savings + No fees or minimum balance. |
See Issuer for Details |
| ||
| Term Life Insurance | | | |
Compare |
FAQ
What is PolicyMe Life Insurance?
PolicyMe Life Insurance is an insurance company available for Canadians. As it's 100% online, it can offer you some of the cheapest rates in the country.
What terms does PolicyMe Life Insurance offer?
PolicyMe Life Insurance offers term life insurance with the option of 10 year, 15 year, 20 year, 25 year, 30 year, or 100 year terms. It also offers whole life insurance, health insurance, and dental insurance.
Who's eligible for PolicyMe Life Insurance life insurance?
PolicyMe Life Insurance life insurance is available for Canadians between the ages of 18 and 75 – you can even apply if you're in Canada on a visa.
Does PolicyMe Life Insurance have whole life insurance?
Yes, PolicyMe Life Insurance offers whole life insurance, as well as dental and health coverage options.
Editorial Disclaimer: The content here reflects the author's opinion alone, and is not endorsed or sponsored by a bank, credit card issuer, rewards program or other entity. For complete and updated product information please visit the product issuer's website.
Hot Money Deals This Month
- Get even more cash back with exclusive offers only available on the GeniusCash app
- Explore bigger GeniusCash offers that you won't find anywhere else.
- Connect your credit cards and unlock bonus cash.
- Explore customized recommendations to level up your rewards.
- Refer your friends and family to earn bonus levels and extra cash back.
- Take control of your money with a full-featured chequing account$ + $100 GeniusCash GeniusCash
- Get up to $700 in cash when you open a new account and complete specified actions.
- Unlimited free transactions – including debit and Interac e-Transfers®.
- Earn Scene+ points on every debit transaction.
- $100 GeniusCash on approval – ends April 30, 2026.*.
- Get up to $800 when you open a BMO Performance Chequing and Savings Amplifier account + $160 GeniusCash
- Earn up to $800 in bonus cash when you complete a few actions.
- Unlimited debit, Interac e-Transfers®, and more.
- Special rates for students, newcomers, and Canadian Defense community members.
- $160 GeniusCash on approval – ends April 30, 2026.*.
- Earn up to 3%% on your balance + $50 GeniusCash
- Earn a minimum of 2.25%% on any balance.
- Earn 3%% interest when you maintain a balance of $20,000 or more.
- Move your money whenever you want.
- $50 GeniusCash on approval – ends April 30, 2026.*.
- Bonus: Get one of the lowest brokerage rates from an online broker from a Big 5 Bank →
