PolicyMe Review

  • 4 min read

PolicyMe is an online life insurance advisor that helps clients compare quotes on life insurance from some of the top companies within the sector. It can help find the cheapest policy on the market to meet the client’s needs and lifestyle. The client can apply for life insurance right on the website. The company wants to make life insurance more affordable and to ensure that the process itself is simple and convenient for their clients.

They have created a digital platform at PolicyMe.com where life insurance customers can reach out for transparent advice from licensed advisors, gain access to comparable quotes, and apply for life insurance – all at one convenient location.

While the life insurance industry helps to protect more than 28 million individuals across Canada via a variety of products, it can take approximately 10 weeks to gain access to a policy and getting advice on life insurance products often requires in-person meetings with brokers who are given incentives to upsell coverage. PolicyMe is helping to change all that through their online presence, offering honest and simple life insurance advice, as well as a way for clients to compare policy quotes, and purchase insurance, all in the comfort of their own home and online. The best part is, with their robust digital engine, they provide recommendations that are objective, products that are affordable, with no “overprotection” advice or upselling.

PolicyMe touts easy access to life insurance with a few simple steps, plus no hassle on their end, no pressure on clients, and no paperwork as everything is done online. Users are asked to answer some questions around how much life insurance coverage they need, and thanks to the website’s proprietary algorithm, multiple quotes are provided within moments after filling out an online form. There is never a need to worry about overprotection in policies, as the quotes zero-in on what an individual requires in their life insurance, and this also means no overpayment premiums. Clients can compare quotes online, and then apply for the life insurance policy that they believe best suits them. Everything is done via the website, so, not only do PolicyMe.com clients save money, but they also save time as there is no need for multiple appointments with insurance agents.

The process of gaining access to life insurance varies for PolicyMe clients, and this depends on an individual’s personal situation, his current life insurance, as well as the type of policy being applied for. Filling out the online application takes a few minutes, and while some applicants are approved within days, for others it can take between two to three weeks. The underwriter may require additional information about the applicant’s health, which is the reason behind the added time. The application process usually does not take longer than a several days.

The PolicyMe website has a team of trusted licensed life insurance advisors ready to answer all life insurance questions and offer personalized support for even the trickiest life insurance situations via phone or email. They offer unbiased advice and counsel, and their main goal is to help clients get the best deal on rates. Their focus is on giving clients quality recommendations to ensure they get exactly what they need out of a life insurance policy, so clients never need to worry about pushy sales jargon. They are not affiliated with any specific life insurance company. As such, customers do not pay anything to the website, as PolicyMe gets paid a commission by the insurance companies when they process a life insurance policy, and these commissions are already included in the policy cost.

PolicyMe.com collaborates with some of the top life insurance companies in the industry (Manulife and BMO are just a couple of examples), and the digital platform has helped its customers save up to 50% on life insurance policies.

Life insurance rates through PolicyMe are locked in, regardless of what may happen to your health, and you can cancel your policy at any time without incurring penalties or fees.

PolicyMe is available to Canadian residents in Alberta, British Columbia, New Brunswick, Manitoba, and Ontario. To date, they have provided $600+ million in coverage across the country, serving close to 49,000 Canadians, and offering an average savings of $700/household that they serve.

For more information, visit PolicyMe.com.

Christopher - BSc, MBA

With over two decades of combined Big 5 Banking and Agency experience, Christopher launched Underbanked® to cut through the noise and complexity of financial information. Christopher has an MBA degree from McMaster University and BSc. from Western University in Canada.