PolicyMe Life Insurance Review 2024: Easy Online Application

Amanda Hester

PolicyMe was founded in 2018 as an online insurance broker based in Toronto. In order to provide customers with the best product possible, PolicyMe switched its model to a digital life insurance solution to provide affordablable and uncomplicated financial protection for families.

Overall rating


Summary: PolicyMe provides an easy online application while remaining affordable.

PolicyMe Life Insurance

policyme life insurance logo


Coverage Up To

May Need

Medical Exam



Policy Application


Fees, Coverage & Policies




Claim Support


Customer Service


Sae & Secure


  • Quick and easy application process
  • 30-day money-back guarantee
  • Non-commissioned advisors


  • Limited option
  • No in-person assistance

Best For

  • Affordable rates
  • Completely online


HQToronto, Ontario
PolicyTerm life insurance
Coverage$100,000 to $5,000,000
Term Length10, 15, 20, 25, 30 years
Medical ExamMay Need
Issue Age18 – 75
Restricted StatesNot available in Quebec, New Brunswick, and Newfoundland & Labrador.

In depth review on PolicyMe life insurance

PolicyMe aims to provide simpler and affordable life insurance to people in need. It is a digital life insurance solution that has already helped 50,000 Canadian find life insurance in its three years of existence. Using technology, they’ve streamlined the traditional insurance process resulting in a fully-underwritten life insurance policy that delivers the same quality protection but with fewer steps and lower costs. They offer term insurance policies from 10 to 30 years, which gives you good flexibility if you are looking for term insurance. However, if you need whole or universal life insurance you might have to shop elsewhere.

PolicyMe strives to offer its clients the policies that serve them the best. You will not be asked for your phone number, which means you will not be receiving any pushy sales calls from them. It also offers non-commissioned advisors to provide you with transparent and unbiased advice. If you wish, you can schedule calls with licensed advisors to help you find the best policy.

PolicyMe life insurance is best for

  • Affordable rates: They’ve cut unnecessary steps and expenses to offer some of the most competitive prices in Canada, with the same quality of coverage. On average, PolicyMe rates can be roughly 5% – 10% lower than other insurers in Canada. Plus they offer couples the chance to apply together to save 5% on their monthly premiums.
  • Completely online: PolicyMe is completely digital and lets you apply for life insurance online. The process is quick and easy for most policies.

PolicyMe life insurance benefits

  • Quick and easy application process: You can complete the application process within 20 minutes and can get instant approval as well. It is a quick process compared to weeks and months spent with other insurance platforms.
  • 30-day money-back guarantee: In case you are not satisfied with the policy, you can always be refunded within 30 days of any payments you might have made without any penalties.
  • Non-commissioned advisors: Advisors at PolicyMe are salary-based and make no commissions over the premiums you pay which means they offer genuine advice without being motivated to sell you a policy you don’t require. 

PolicyMe life insurance drawbacks

  • Limited options: PolicyMe only offers term life insurance. If you are looking for whole life insurance, you’ll be disappointed or have to look elsewhere. 
  • No in-person assistance: PolicyMe is an online-only company and has no physical locations, which means you cannot receive in-person assistance. You will have to reach out to PolicyMe’s customer support team.

Policy application


The process of applying for a life insurance policy is completely digital with PolicyMe. The application process can be finished within a few minutes. Most of the time you don’t need a medical exam to be approved. You also have an option to contact a customer representative if you have any queries.

Fees, coverage, and policies


PolicyMe currently only offers term life insurance plans with several term lengths including 10, 15, 20, 25, and 30 years. You can apply for life insurance if you fall under the age range of 18-75 years and receive a total coverage ranging between $100,000 to $5,000,000.

Your monthly premium is decided based on the answers you provide to the questionnaire during the application process. If you are not sure how much coverage you should opt for, you can answer a few more questions about your finances to get a personalized recommendation. At PolicyMe, the only exclusion for a payout is suicide within the first two years of the policy. 



With PolicyMe, you get the option to customize your policy if you have children. It offers Child Coverage, meaning each of your kids will also get $10,000 of free life insurance while you have an active policy with them. You’ll get a $10,000 tax-free lump-sum payment in the event that the unthinkable happens and any of your children pass away.

Claim support


If you are looking to submit a claim for life insurance, you can email PolicyMe at or fill out a web form informing them about your loss. Once, you have submitted a claim, it is forwarded to Canadian Premier and is reviewed by their team of experts. After your claim has been reviewed, the payment is made to the beneficiaries of the policy.

Customer service


You can reach out to PolicyMe’s customer representatives via call at +1 (866) 999-7457 from 9:00 AM to 6:00 PM ET all days of the week. You can also email them at for general inquiries, at for existing customers, and at for claims. 

You can also choose to schedule a virtual meeting with licensed advisors to help you find the best policy for you. You can be at peace knowing that these advisors are not paid any commission to sell you a policy, so they will not pressure you into buying something you don’t need.

Safe and secure


PolicyMe was established in 2018 and in this time has proven to be a reliable place for individuals looking to get life insurance. They have a good track record of handling claims and client queries. 

The policies that are issued by PolicyMe are backed by Canadian Premier Life Insurance, which is a reputable insurance company with decades of experience in the field. Additionally, PolicyMe utilizes industry-standard security measures to make sure your information is safe.

Is PolicyMe life insurance right for you?

PolicyMe uses software and technology to provide its customers with a platform to view and compare life insurance policies from the biggest insurance providers in Canada. Canadians can enroll in a life insurance policy that meets their needs, completely online. If you are looking for affordable and an easy application for life insurance, PolicyMe will can be a good option.