PolicyMe is a modern life, health, and dental insurance option for Canadians between the ages of 18 and 75 (or older, if renewing). You'll get some of the cheapest 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 a 100 year term for essentially permanent coverage. PolicyMe term life insurance is convertible and renewable, so you don’t have to commit to a long term at first if you don’t want to.
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. Let's take a closer look.
PolicyMe features
Here's what PolicyMe has to offer.
Why You Want It
Save up to 20% on your life insurance + Get Child Coverage at no extra cost.
Special Features
- All applicants get an instant decision
- 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
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 product rating: 3.0 stars
PolicyMe 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 they'll easily show you with their life insurance calculator). PolicyMe is available nationwide.
But if you're looking for in-person meetings, you’re out of luck, a detriment to people who prefer physical meetings over phone or online support.
Rating methodology
To calculate our Genius Ratings, we compare the features of the account or product in question with other similar products in Canada. We give each feature a score out of 5 based on that comparison. Once we’ve rated all the features, we run them through our proprietary algorithm to produce a final rating out of 5.
Learn more about our rating methodology.
The pros of PolicyMe
Here's what to look forward to when you're covered by PolicyMe.
Pros
Some of the lowest rates in Canada
PolicyMe 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's non-commissioned advisors over the phone or through live chat during business hours.
Convertible Term Life Insurance & National Availability
With term life insurance that can be renewed or converted and national availability, PolicyMe is an extremely convenient option.
The cons of PolicyMe
And here's something to keep in mind when considering PolicyMe life insurance.
Cons
No in-person support
As an online company, PolicyMe doesn't offer physical meetings to speak with a life insurance advisor. If that makes you uncomfortable, this may not be the right choice for you.
PolicyMe alternatives
So how does PolicyMe compare to other life insurance providers on the Canadian market?
 |  |  |  | |
|---|---|---|---|---|
| Account | PolicyMe Life Insurance | Policy Advisor Life Insurance | TD Life Insurance | Serenia Life Financial |
| Genius Rating | ||||
| Why You Want It | Save up to 20% on your life insurance + Get Child Coverage at no extra cost. | Get instant life insurance quotes from 30 top insurers + No brokerage fees. | Get a quick quote with instant approval + Save up to 10% with discounts | 10, 20, 30, and 100-year term length options + Valuable member benefits. |
| Term Life Insurance | | | | |
| Terms Available |
|
|
|
|
| Permanent Life Insurance | | | | |
| Guaranteed Acceptance Life Insurance | | | | |
| Universal Life Insurance | | | | |
| Get a quote See more PolicyMe products Compare | Get a quote See more Policy Advisor products Compare | Learn More See more TD products Compare | Learn More See more Serenia Life Financial products Compare |
FAQ
What is PolicyMe?
PolicyMe 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 offer?
PolicyMe 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?
PolicyMe 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 have whole life insurance?
Yes, PolicyMe 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.
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