PolicyMe Review

I'm Donny. I'm a world traveler, investor, entrepreneur, and online marketing aficionado who has a big appetite to compete and disrupt big markets. I thrive on being able to create things that impact change, difficult challenges, and being able to add value in negative situations.

PolicyMe is a cheap and affordable life insurance company that prioritizes honesty and a streamlined way for its customers to get life insurance.

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Our Partner

Life Insurance


  • Life insurance for parents
  • Every policy includes Child Coverage
  • Couples save 5% off
  • Get a quote in seconds
Overall Rating
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Key Takeaways

  • 10-20% cheaper than the standard provider
  • Created a rate assistance tool to help customers find the right coverage plan
  • Advises on a situational basis
  • Staff available for calls and consultations

Pros & Cons

A quick overview of some of the best and worst of PolicyMe.


  • Quick to apply (10-15 minutes)
  • No medical exam needed
  • Paperless
  • Affordable plans


  • Not available everywhere in Canada
  • Only offers life insurance

Are you unsure of how to choose a life insurance provider?  Are you tired of jumping through seemingly unnecessary hoops with traditional providers? 

Do you worry that rates are unaffordable and that you can’t find a good deal no matter what research you conduct or where you look? 

If you’ve been asking yourself these questions, PolicyMe might be your perfect solution.  PolicyMe is a Canadian Life insurance provider that prides itself on affordable rates that are both fair and accessible.

Customers can buy this insurance online, which is more streamlined than interacting with your typical providers.  It's rates average around 10-20% lower than traditional providers.

PolicyMe icon

Quick Summary

Policies: Term Life Insurance

Pricing: Depends on policy

Promotion: Couples save 5% off their monthly rates

About PolicyMe

PolicyMe is a company that provides term life insurance. It originally started as an insurance advisor comparing rates between different insurance providers.

It was founded in 2018 and has evolved from being a broker to selling insurance products.  This adds to the company’s credibility when rates are involved.

It provides affordable services and is aided by its prior experience as a broker.  PolicyMe started selling insurance after noticing that the companies it rated used numerous inefficient methods. 

It noticed that many providers did not have streamlined application processes and that those providers didn’t even have insurance products to sell.

PolicyMe’s insurance is unique, and its application process is easy and quick. It still has representatives available for consultation, but is otherwise completely online and paperless.

It is able to cut down on costs because it’s a digitized business. Operations are less expensive and rely on data-driven underwriting instead of manpower.


This company focuses solely on life insurance, which only further proves PolicyMe’s dedication to great rates and expertise in the field.

On its website, you can find policies catered to many different types of people.  Some factors that PolicyMe takes into consideration include: 

  • Age
  • Health conditions
  • Your financial situation

Each of these factors can affect their rates and the website compares its rates to those of other insurance providers for your convenience.

The website also incorporates an insurance calculator, where anyone can enter the factors that might affect rates and figure out a plan that works for them. 

PolicyMe wants to ensure its coverage caters to every individual and that no one is paying for too much coverage.  A focal point of PolicyMe is providing life insurance for parents.

Part of its mission statement is to ensure that loved ones stay financially secure, even after your passing.  It has options for both married and single parents, as well as lots of advice for parents looking to invest in a life insurance policy on the website.

Some of this advice includes telling parents to invest in term life insurance, as well as how they should never pay for permanent life insurance since it is more costly and less efficient.

Other providers will not always tell this to their customers.  Instead, they should invest in term life insurance, which is much more affordable and should provide sufficient coverage.

Again, however, insurance plans should work on a case-by-case basis.

Who is PolicyMe Best For?

Life insurance is usually more of a priority for people who have been financially supporting their families. It can be a priority for senior citizens and people looking to provide for their loved ones even after they are no longer able to.

It has information for multiple demographics.


PolicyMe believes that regardless of marital status or kids, life insurance is always a good safety net and anyone can find a policy that works for them.

The website also provides an example of a couple who has found an affordable plan that works for them.  It makes a point to inform you that you do not need to follow a joint life insurance plan since not doing that can give people added flexibility.


PolicyMe recommends its term life insurance for seniors, showcasing full by recommending other insurance companies for whole life insurance and no medical or guaranteed life insurance. 

It says the best coverage for seniors is based on what each person wants to prioritize.  The website provides additional information about why a term life insurance policy is best for seniors.

Its main point is that a term life insurance policy can help people pay off debts, such as mortgages and loans.


As previously stated, life insurance can be a literal lifesaver for parents in the event of a worst-case scenario. This page on the website once again stresses the importance of picking the right policy and advertises term life insurance as the best and most affordable option for parents.

It also discusses other insurance options that do not provide as much protection for families.


PolicyMe acknowledges that investing in life insurance for children might not always be necessary, but it lets people know that it understands if people want it anyway.

It suggests opening a savings account or setting up an emergency fund if parents want to secure a safe financial future for their children.

Parents can add children to their life insurance as something called term riders. It doubles as a savings plan.

Single Parents

The advice given in this section includes not waiting and finding a trustee. Trustees are necessary for single parents to find because claims cannot be paid out to minors.

It is also stressed that it is best to avoid under-protection and over-protection.  Under-protection means not providing your family with as much protection as they need.

Overprotection is the opposite and wastes money.


If you don’t have any dependents to worry about, it is unlikely that your top priority is to invest in a life insurance policy. On the other hand, it is rational and understandable to want to be safe instead of sorry.

PolicyMe does not recommend life insurance policies for people with no dependents and recommends not starting any plan unless life circumstances change.


Group insurance for employees often doesn’t provide enough coverage. It might not seem worth the hassle for people without dependents.

The website claims that your family will still have to pay 60-70% of all expenses under many employee life insurance plans. This section also recommends seeking financial advice since finding the right life insurance through an employer can be more difficult than finding it directly. 

Should I Use PolicyMe?

Life insurance can be for everyone, but it’s not always needed. Life insurance can act as a safety net in the event of a death and has many benefits, but be sure it’s what you want and need.

I think that PolicyMe is a great option, and its transparency makes it more credible. It believes in making sure everyone is paying a fair amount for their plan, and its affordability makes it a good option for anyone considering their prospects.


PolicyMe makes it easy to get a quote, apply, and find out if you've been approved for life insurance in minutes, not weeks.

PolicyMe icon


If you have any remaining questions, they should be answered below.

Is PolicyMe a legitimate insurance provider?

Despite being completely online, PolicyMe has a professional and knowledgeable staff that is committed to finding a plan that best fits you.

How long does it take to get coverage?

Users can get a quote immediately by taking a quick 5-minute survey on the website, and after applying, you’ll immediately find out if you’ve been approved or not.

How does PolicyMe work?

PolicyMe acts as a completely paperless insurance company. Its workers are remote, which allows it to save on operation-related costs and lower rates for its customers.

How does PolicyMe keep my personal data safe?

PolicyMe does require personal data to operate as a proper insurance provider. On its website, it guarantees that it is dedicated to keeping client information secure and that it is only allowed access to your information on a “need-to-know” basis.

I'm Donny. I'm a world traveler, investor, entrepreneur, and online marketing aficionado who has a big appetite to compete and disrupt big markets. I thrive on being able to create things that impact change, difficult challenges, and being able to add value in negative situations.

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