The better way to buy insurance

Fast, affordable life insurance & critical illness insurance; there for Canadians when they need it most.

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Everything about the process is online, with coverage and term advice tailored to your needs. Need some pointers? Our licensed insurance advisors are available Monday to Friday.

Step 1

Get an instant, no-obligation quote

Answer 4 questions, adjust your coverage amount & length (if you like), and get a quote in seconds.

Step 2

Apply online & find out if you’re approved right away

Most people are approved without a medical follow-up.

Step 3

Activate your policy when you’re ready

Your approval lasts for 90 days, so take your time! You can buy your policy whenever you’re ready.

Here's how you're protected with the best insurance in Canada

Affordable, fully underwritten life insurance and critical illness insurance policies.

PolicyMe Term Life Insurance

Financial protection for your loved ones if you were to pass away

Coverage amounts ranging from $100,000 to $5M

Term lengths ranging from 10, 15, 20, 25 or 30 years

Couples Coverage: Save 10% off your rates in the first year when you apply with your partner

Child Coverage: Get $10,000 in free life insurance for each of your kids (or future ones!)

Option to renew your policy annually until you turn 85, without any additional medical testing or questions required

Rates are locked-in for the full term

Option to convert your policy to a new policy with a longer duration within the first 5 years

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PolicyMe Critical Illness Insurance

Financial protection for you in case you're diagnosed with one of the covered conditions

Coverage amounts ranging from $10,000 to $1M

Term lengths ranging from 10, 15, 20, 25 or 30 years

44 conditions covered

The most in Canada!
  • 27 critical illnesses
  • 17 early-stage conditions

No waiting period for 80% of conditions

Can be used to cover any expenses and support any time off of work while you recover from the critical illness

Rates are locked-in for the full term

Option to convert your policy to a new policy with a longer duration within the first 5 years

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Cancel anytime without fees or penalties. 30-day grace period for missed payments.

Over $5 billion in insurance coverage sold, protecting Canadians like you

Here’s why your friends, neighbours, and colleagues choose PolicyMe for their insurance needs.

Other companies require customers meet with an advisor and complete medical telephone interviews before processing their application. On average, traditional companies issue policies in 4-6 weeks or more.
Other companies incentivize their advisors to sell more by giving them a commission on every policy sale.
Other companies offer fully-underwritten policies.
Other companies operate very inefficiently driving up the costs.
Other companies require a phone call or meeting to provide you with a quote and complete the application process.
On average, it takes other companies 4-6 weeks to give a decision on a customer's application.
Other companies require all applicants complete a medical exam, regardless of their health.
PolicyMe logo
Other Companies

Honest, uncomplicated coverage

Fast and easy application process

20 minute online application, on average
Non-commissioned advice, and only when you ask for it
A fully underwritten policy
A policy designed with your budget and family in mind
No unnecessary meetings
Instant decision
Most customers get approved without a medical
It takes PolicyMe customers 20 minutes or less to complete their online application process.
PolicyMe advisors are non-commissioned, so they have your best interests at heart.
PolicyMe's policies are all fully underwritten.
PolicyMe has streamlined the application process, eliminating unneeded costs so they can pass on the savings to you.
PolicyMe advisors are here to help you whenever you need everyday from 9AM-6PM EST. Meetings are never a requirement.
PolicyMe customers find out as soon as they submit their application whether they're approved or need to provide more info.
PolicyMe uses the information you provide in your application to underwrite your policy.
BayStreerBull named PolicyMe one of Canada's most impactful companies in 2021.

Power50: PolicyMe named one of Canada's most impactful companies in 2021

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The Financial Post's review of PolicyMe

"Best of all, you won’t need to haggle with an insurance agent or fill out mountains of paperwork.

PolicyMe will take care of your application for you, free of hassle and free of charge."

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BayStreerBull named PolicyMe's COO and Co-founder, Laura McKay, one of their Women of the Year 2021.

Women of the Year 2021: PolicyMe Co-Founder and COO Laura McKay is putting families first by redefining the insurance industry

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Click to see more news about PolicyMe.
Click to see more news about PolicyMe.

FAQ: PolicyMe insurance

We’re big believers in keeping things simple, so ask us anything and we’ll answer honestly and without the jargon.

Have a question we didn't answer?

Call +1 (866) 999-7457 from 9AM-5PM EST Monday to Friday or email us. Our insurance expert team is happy to help!

Do I even need life insurance?

You probably need life insurance if you have people who are relying on you financially, whether that's a partner, young children, elderly parents or anyone else. You should also consider life insurance if you have large debts like a mortgage or business loan.

Is term life insurance best for me?

It depends on your financial situation, but for most Canadian families, yes. Term life insurance is for those who want financial protection for a set period of time, usually between 5-30 years while raising a family or paying off debt.

It’s a much more affordable option than whole life insurance, which can be more than 8x more expensive. And because we believe term life insurance is the better option for most Canadians, term is the only option we offer.

To read a comprehensive review of the best life insurance companies, click here.

Is my policy fully underwritten?

You bet it is. Health, occupation, and lifestyle questions are asked upfront, giving you greater certainty at claim time.

What's a death benefit?

It’s the tax-free amount that your loved ones would receive if you were to pass away.

Will my prices increase if my health declines?

Nope! During your policy term, your monthly price is locked in and will not increase.

What happens if I pass away while my policy is active?

If this happens, we’ll be here for your loved ones to help them through the claims process. We provide an experienced Claims Concierge as the single point of contact for your family – from making the insurance claim to getting the payout.

How much life insurance coverage do I need?

The amount of coverage you need depends on factors like your income, debts, and family needs. A general rule of thumb is to aim for coverage that equals 5-10 times your annual income. But everyone’s needs are different, so consider your financial obligations and future goals to determine the right amount for your situation.

What does critical illness mean?

Critical illness means being diagnosed with a serious health condition that is often life-threatening.

Insurance companies have different definitions of what a critical illness is and what conditions qualify. Common conditions such as stroke, cancer and heart attack are usually covered in critical illness insurance policies.

What is the purpose of critical illness insurance?

The purpose of critical illness insurance is to provide financial protection to an individual in the event that they are diagnosed with a serious condition or illness. Critical illnesses can often require a lot of out-of-pocket expenses that are not covered by public healthcare or employment benefits and can often require you to take time away from work without pay.

The lump sum payment you get from critical illness insurance can help offset these expenses and provide additional financial security during this difficult time.

What illnesses are covered by critical illness insurance?

Illnesses typically covered by critical illness insurance in Canada include heart attack, cancer, paralysis, stroke, organ transplants, Alzheimer's, kidney failure and multiple sclerosis.

Canadian insurers have different definitions of what a critical illness is, but it is essentially a life-threatening illness. Some insurers will only cover serious illnesses like heart attack, while others will also cover early-stage diseases such as early-stage breast cancer.

In Canada, PolicyMe recently introduced the most complete critical illness insurance that covers 44 conditions: full coverage for 27 conditions and partial coverage for 17 conditions.

What’s the waiting period for critical illness insurance?

Some conditions specify an amount of time that has to pass after you are diagnosed before you qualify for a critical illness payout. This differs by insurance company and by the condition that is covered. Usually, cardiovascular conditions (like heart attacks) are most likely to have a waiting period. That said, most of PolicyMe's covered conditions don't have waiting periods to qualify.

How much does critical illness insurance pay out?

Critical illness insurance typically pays out between $10,000 to $1M in Canada. You choose your coverage amount when you apply for and sign your critical illness policy. If you want a higher coverage amount, your monthly premium will also be higher, though this rate is also determined by your health status, age and other factors.

How is critical illness insurance paid out?

Critical illness insurance is always paid out as a single lump-sum amount.

Can you cancel critical illness insurance?

Yes, you can always cancel your critical illness insurance with any Canadian provider.

With PolicyMe, you get a full refund on any premiums you have paid if you cancel within 30 days of the date your critical illness policy became active.

If you cancel after this 30-day period, you will only receive a pro-rated refund of any premiums you have prepaid. You won’t be charged any cancellation fees or penalties.

Can I get critical illness coverage only?

Yes, you can buy critical illness insurance by itself in Canada. At PolicyMe, you can buy critical illness coverage by itself, you can buy it with term life insurance or you can add it on to existing term life insurance coverage after the fact.

What exactly does PolicyMe do?

We protect Canadian families with insurance. We’ve used technology to streamline the insurance application process and help Canadian families get personalized advice. By doing so, we've cut out inefficiencies in the process and cut down costs. This makes our insurance policies 5-10% lower on average than the market in cost.

How do I know PolicyMe will be around in 30 years?

We've partnered with Securian Canada, a federally-regulated and wholly-owned subsidiary of Securian Financial - one of North America's most reputable insurance companies.

In other words: rest easy. We’ll get you covered today, then give you long-term peace of mind knowing that your life insurance claims will get paid.

How does PolicyMe make money?

For full transparency, we take a fixed percentage from each policy, just like any other insurance company. This goes towards marketing, underwriting, and administration costs, while also allowing us to make some profit.

What makes us different is we've cut down on so many inefficiencies in the process that we can still pass on lots of savings to you!

How will you handle my family's claim if I pass away or my claim if I'm diagnosed with a critical illness?

It’s our promise to you that if the worst happens, we’re here for you and your loved ones, every step of the way.

Your dedicated PolicyMe claims concierge works with you or your beneficiary to walk through the required documentation and process. This can be done by Zoom or phone.

Your claim is then submitted to our partner, Securian Canada, who reviews the case. We provide support if any follow-ups are required.

We notify you or your beneficiaries when the claim is approved. The claim is made as a tax-free, lump-sum payment paid by e-transfer or cheque.

What if I want to cancel my policy?

We’re a no-obligation kind of company. Cancel at any time without penalty. But we hope that doesn’t happen. We’d really miss you!

What types of insurance does PolicyMe have? 

PolicyMe’s main offerings are term life insurance and critical illness insurance. Term life insurance is a type of life insurance policy that covers your life for a temporary period, for example, while you’re paying off the mortgage. It is generally the most affordable kind of life insurance you can get, making it a great choice for families with young kids. 

Critical illness insurance is a type of insurance coverage that covers you in the event that you become critically ill – like if you have a heart attack, a stroke, or get diagnosed with cancer. PolicyMe’s critical illness insurance also covers a wide range of early-stage conditions, too. This type of insurance is meant to help you cover medical expenses and allow you some time off to recover. 

Is PolicyMe legit? 

PolicyMe is a legitimate insurance solution. Partnering up with insurance industry giants like Securian Canada, we’re able to offer Canadians with simple and affordable insurance options. Securian Canada is federally-regulated and is one of North America’s most reputable and trustworthy insurance providers. 

Another layer of legitimate protection? In Canada, the insurance industry is regulated by both federal and provincial governments to make sure players in the insurance market can meet their financial promises and obligations to policyholders. 

Who are the competitors of PolicyMe? 

PolicyMe’s competitors include traditional life insurance providers like RBC, Manulife, Sun Life, and Canada Life and newer digital insurers like Emma or Cover Direct. 

What sets PolicyMe apart is our streamlined, tech-driven process, which aims to make buying insurance simpler, faster, and more affordable. While our competitors also provide quality coverage, PolicyMe focuses on reducing steps and lowering costs, ensuring that families get the protection they need without unnecessary complications or expenses. Our transparent and customer-centric approach is designed to empower and inform our clients.

Our advice for comparing PolicyMe to other companies: make sure you’re comparing apples-to-apples. For example, ensure that the policy specifications are the same (i.e. 20-year term, $500K in coverage, child coverage, etc.).

Reviews matter. And we've got hundreds of them

Not interested in our glowing reviews? Just click “Filter Reviews” to read the 1-and-2 star reviews that we’ve worked to make better. (See, we told you we were honest.)

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