Is PolicyMe Insurance Legit?
What is PolicyMe?
PolicyMe is a digital insurance distributor and administrator that makes it easier for Canadians to buy life, health, and critical illness insurance. We’ve removed the extra steps, lowered the cost, and built a simpler way to get covered without the usual hassle.
Quick facts:
- PolicyMe is a direct-to-consumer insurance distributor and managing general agent (MGA) for life, health, and critical illness insurance.
- PolicyMe helps consumers compare real home and auto insurance quotes from reputable insurers as an insurance broker.
- PolicyMe was founded in 2018 and is headquartered in Toronto, ON.
- We’ve placed over $10B in coverage in Canada with policies backed by Securian Canada.
- PolicyMe is rated A+ by the Better Business Bureau.
- Rated 4.8/5 on Reviews.io and rated 4.9/5 on Google by over 1000 customers.
- PolicyMe’s technology is leveraged through distribution partnerships with brands like CAA.
Insurance brokers help customers find and compare a variety of insurance products from different insurance companies. At PolicyMe, we’re selling insurance products that we designed at prices we set with Canadian families’ needs in mind.
As a distributor, we sell and manage insurance policies on behalf of an insurance company that agrees to issue payment for any claims.
PolicyMe life insurance
PolicyMe offers two types of life insurance coverage: term life and term-to-100 (T100) permanent life insurance.
Both types of insurance offer a tax-free lump-sum death benefit to your beneficiaries in the event of your death during the policy term. All term life insurance policies are fully convertible and renewable.
Our 20-year term life insurance is the most popular life insurance option from PolicyMe.
* Average monthly rates for a 30-year-old non-smoking applicant with $500,000 in coverage.
PolicyMe health & dental insurance
For Canadians without access to group health insurance benefits who want to supplement provincial health coverage, PolicyMe offers four guaranteed issue health and dental insurance plans.
PolicyMe’s health and dental insurance offers comprehensive coverage for things public healthcare won’t pay for, including prescription drugs, dental care, vision benefits, paramedical services, home nursing care, medical equipment, and more. The table below breaks down the basics of each guaranteed acceptance plan from PolicyMe. Click here for more details on what’s covered per plan.
PolicyMe critical illness insurance
Critical illness insurance provides a living benefit to Canadians diagnosed with serious medical conditions such as cancer, stroke, heart attacks, and other severe illnesses. Unlike disability insurance, which only replaces a portion of your income, critical illness insurance offers a one-time lump-sum payout that can be used to replace your income, cover new medical and living expenses, and provide financial support for you and your loved ones during a difficult time.
PolicyMe’s critical illness insurance offers a full payout for 27 conditions and partial coverage for 17 more, making it the most comprehensive critical illness coverage in Canada.
Home and auto insurance through PolicyMe
Acting as an insurance broker, PolicyMe offers a guided digital way to get insurance for personal automobiles and primary single-family homes in Ontario. Customers can complete PolicyMe’s streamlined online application to receive personalized coverage recommendations, expert one-on-one advisor guidance, and real quotes from reputable carriers.
You can use PolicyMe’s digital platform to shop for home or auto insurance as standalone policies, but homeowners can save money by bundling home and car insurance policies with a single insurer.
When you make PolicyMe your digital broker, you can:
- Protect your home and vehicle(s) with a single easy online application
- Compare multiple insurance companies with no spam or fake quotes
- See competitive pricing based on what you need, not what insurers want to sell
- Work one-on-one with licensed advisors to match your insurance policies to your budget
- Automate annual quote checks whenever your policies are due for renewal
While we sell our own life, health, and critical illness insurance policies backed by our partner Securian, PolicyMe operates as an insurance broker when it comes to home and auto insurance. That means our role is to help you find and compare quotes, make coverage decisions, and lock in the coverage you need at the best price. Your insurance company will handle any claims.
Meet PolicyMe’s leadership team
Andrew brings over 10 years of experience in the insurance industry working as a licensed actuary and management consultant at Towers Watson and Oliver Wyman. He has advised senior executives at the world’s largest insurance companies on strategy, digital transformations, operations, regulatory adherence and finance / risk.
Andrew brings over 10 years of experience in the insurance industry working as a licensed actuary and management consultant at Towers Watson and Oliver Wyman. He has advised senior executives at the world’s largest insurance companies on strategy, digital transformations, operations, regulatory adherence and finance / risk.
Laura McKay is the co-founder and COO of PolicyMe, Canada's fastest-growing digital life insurance company. In 2021, she was named one of the Women of the Year by Bay Street Bull. Laura has a Bachelor of Mathematics from the University of Waterloo. Her degree focused on Actuarial Science, which included learning about mortality risk, the basis of life insurance pricing and valuation. After her degree, she was employed by Manulife and Munich Re in Actuarial Science. Laura then worked at famed management consulting company Oliver Wyman in New York from 2013-2018. In this position, she worked with many Fortune 500 life insurance companies and helped them develop growth strategies and solve operational problems and regulatory issues.
Laura McKay is the co-founder and COO of PolicyMe, Canada's fastest-growing digital life insurance company. In 2021, she was named one of the Women of the Year by Bay Street Bull. Laura has a Bachelor of Mathematics from the University of Waterloo. Her degree focused on Actuarial Science, which included learning about mortality risk, the basis of life insurance pricing and valuation. After her degree, she was employed by Manulife and Munich Re in Actuarial Science. Laura then worked at famed management consulting company Oliver Wyman in New York from 2013-2018. In this position, she worked with many Fortune 500 life insurance companies and helped them develop growth strategies and solve operational problems and regulatory issues.
Jeff brings over 13 years of experience having previously worked as a technology leader for Bloomberg L.P. He's spent his career overseeing and driving technological innovation using a wide range of technologies, with a focus on architecting and building large-scale distributed systems.
Jeff brings over 13 years of experience having previously worked as a technology leader for Bloomberg L.P. He's spent his career overseeing and driving technological innovation using a wide range of technologies, with a focus on architecting and building large-scale distributed systems.
PolicyMe reviews
We’re proud to have earned hundreds of five-star reviews from Canadians who wanted an easier way to get insurance. From the smooth online application to fast approvals and helpful support, people tell us they appreciate how straightforward and stress-free the process feels.
You’ll find more verified reviews on Reviews.io, where folks share exactly what made PolicyMe work for them.
Still deciding? You can also check out independent takes from trusted voices in the personal finance space:
How much does PolicyMe life insurance cost?
PolicyMe offers some of the most affordable term life insurance policies in Canada. Our insurance premiums can be up to 10% lower than comparable policies. Monthly premiums for Canadians aged 30-45 average around $20–$30 for a 20-year policy with $500,000 in coverage.
On top of these highly competitive rates, we also offer a 10% family discount in the first year to couples applying together, and each policy comes with an additional $10,000 in free child coverage.
To give you an idea of how much PolicyMe life insurance plans cost, we’ve pulled starting rates for a non-smoker of average health for $500,000 over 20 years (our most commonly purchased coverage amount!).
How much does PolicyMe health insurance cost?
The cost of health insurance from PolicyMe varies by age, province, and plan. On average, adults aged 21-44 pay between $80/month and $150/month for our Guaranteed Issue Classic plan, the most popular option.
For a more detailed breakdown of average health insurance costs from PolicyMe, the table below compares average monthly premiums for our three Guaranteed Issue plans for adults aged 21-44 across nine provinces.
Our approach to insurance
The insurance advice we give customers is grounded in real needs, not upselling or guesswork. Our approach to life, health, and critical illness insurance is shaped by one goal: help you get the right coverage without overpaying.
Let’s take a closer look at our advice philosophy by insurance product. In the sections ahead, you’ll see the clear, straightforward principles we use to guide coverage decisions.
Our approach to life insurance
Temporary needs call for temporary insurance
Most financial obligations don’t last forever; mortgages get paid off, kids grow up, savings grow. That’s why we tend to recommend term life insurance: affordable, flexible, and aligned with real-life needs.
Coverage should match real risks
We guide customers to buy just enough coverage to:
- Pay off debts
- Replace lost income
- Cover childcare, education, retirement for a spouse, and end-of-life costs
If none of these apply, we’ll be the first to say: you might not need a life insurance policy right now.
You shouldn’t pay extra for benefits
Most life insurance providers offer a range of riders — that is, optional policy additions — to their customers. But these add to the cost of life insurance, often without delivering reliable benefits.
We believe that your death benefit is the part of your policy that’s most important to customize. Other benefits, like child coverage and convertibility, should simply be included in all policies if they offer consistent value to policyholders. That’s why we include child term coverage in all life insurance policies (even if you don’t have kids yet!) and steer clear of add-ons that cost clients more than they help them, such as return of premium riders.
Our approach to health & dental insurance
Buy based on real needs, not just perks
We help you choose health insurance coverage based on what you already spend (or expect to spend) on care like dental, prescriptions, vision, and paramedical. Coverage should protect against higher, less predictable costs, not just routine visits that are cheaper out-of-pocket.
Weigh value over volume
We break down if a plan’s premiums are worth it based on your routine needs and your risk of higher-ticket treatments (like major dental work or costly meds). We also look closely at deductibles, coinsurance, and caps—because not everything is fully covered.
One size doesn’t fit all
No two households need the same thing. Some prioritize fertility or mental health; others don’t. We do a full needs assessment to match the right plan tier with what you’ll actually use.
Our approach to home and auto insurance
Coverage comes first
Our goal is to help homeowners and drivers get the right financial protection, not just the cheapest plan. We won’t push unnecessary coverage on you if it’s not a good fit, but we’ll never downgrade your plan just to make the numbers look better, either.
We do the research so you don’t have to
We’ll ask a few questions about your coverage preferences to find the right insurance for you. We do the research and read the fine print, then present a personalized recommendation with a clear breakdown of why it fits your needs. You can adjust your coverage and speak with an advisor anytime, so you feel confident in your choice.
Industry-backed, customer-led
We work with trusted Canadian insurance leaders to make sure we’re connecting our customers with the best home and auto insurance products on the market. But we don’t work for the insurance companies—we work for you. PolicyMe’s digital flow puts customers in charge of the insurance they buy: no surprises, no unnecessary jargon, and no sales pressure.
PolicyMe in the news
How to talk to us (if you want to!)
Whether you have a quick question or need help with your policy, our team is here to support you every step of the way. No phone call trees, no canned responses, just real, helpful people who actually care.
When you contact us, you’re connecting with a team of insurance advisors that believe in doing right by Canadians, with honest advice and no sales pressure. Insurance isn’t always simple, but we do everything we can to make it feel that way.
Erik Heidebrecht is the customer service manager and licensed advisor at PolicyMe. Erik has a Bachelor of Business Administration from the University of Wilfrid Laurier University with a minor in Financial Mathematics. Erik has broad exposure to the personal finance world after working at Fidelity Investments Canada as well being an advisor with Sunlife Financial, one of Canada's largest individual insurance providers. Erik is now focused on taking that experience to improve the customer journey and provide the best advice to Canadians looking for life insurance.
Erik Heidebrecht is the customer service manager and licensed advisor at PolicyMe. Erik has a Bachelor of Business Administration from the University of Wilfrid Laurier University with a minor in Financial Mathematics. Erik has broad exposure to the personal finance world after working at Fidelity Investments Canada as well being an advisor with Sunlife Financial, one of Canada's largest individual insurance providers. Erik is now focused on taking that experience to improve the customer journey and provide the best advice to Canadians looking for life insurance.
Contact information:
- Phone number: +1 (866) 999-7457 from 9AM-5PM EST Monday to Friday.
- Email for general inquiries: info@policyme.com
- Email for existing customers: advisor@policyme.com
- Email for claims: servicing@policyme.com
Is self-serve more your speed? You can get a life insurance quote and submit your application 100% online. Just know, if you have any questions along the way, PolicyMe advisors have got your back.
How can I trust PolicyMe will pay my insurance claim?
Securian Canada (a subsidiary of Securian Financial; formerly Canadian Premier Life Insurance Company) is the insurer behind your policy and a trusted partner of PolicyMe. We’re the distributor and administrator, which means that we set the prices and we’re your go-to for anything related to your policy, including claims. We’ll handle it directly with Securian Canada, from submitting the claim on your behalf to making sure the payout happens.
We work with Securian because we trust them to pay out claims for all of our clients. Securian Canada is a federally regulated organization with an A+ (Superior) financial strength rating from A.M. Best. They underwrite the policy and pay out the claim.
There’s also another layer of protection for insurance customers 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.
All life and health insurance companies licensed to sell in Canada must join Assuris, as required by federal, provincial, and territorial regulators under the Insurance Companies Act.
Assuris is a non-profit organization created to make sure that all life insurance claims in Canada get paid — even if the original insurer goes bankrupt and can’t make the payment.
Securian vs. PolicyMe
PolicyMe is not an “insurance company” by traditional definition, though we operate like a traditional life insurance company in many ways. We manage everything from pricing and product design to your application and service. Securian Canada is the insurance company that underwrites and pays claims, but PolicyMe handles the experience.
Working together, we design our products, set pricing, sell policies, provide expert advice, process claims, and help customers resolve any technical or administrative difficulties. Think of us as the builder and concierge, and Securian as the safety net.
FAQs: Is PolicyMe legit?
Helene Fleischer is Content Marketing Manager at PolicyMe, with 9 years in content marketing and 4 in Canada’s insurance industry. She works with skilled writers and licensed insurance advisors to create useful resources that help Canadians navigate insurance decisions with confidence and clarity.
Helene Fleischer is Content Marketing Manager at PolicyMe, with 9 years in content marketing and 4 in Canada’s insurance industry. She works with skilled writers and licensed insurance advisors to create useful resources that help Canadians navigate insurance decisions with confidence and clarity.