PolicyMe reviews: real feedback from our customers

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’s platform helps consumers compare real home and auto insurance quotes from reputable insurers.
• 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.

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

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 use PolicyMe for home and auto insurance, you can:
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• 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
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PolicyMe is not a direct provider of home and auto insurance

While we sell our own life, health, and critical illness insurance policies backed by our partner Securian, When it comes to home and auto insurance, 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 Ostro

CEO & Co-Founder

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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

COO & Co-Founder

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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 McKay

CTO | Co-Founder

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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:
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• Million Dollar Journey
• Money With Mark
• Mixed Up Money (Alissa Davies)
• Jessica Moorhouse

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!).

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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

Customer Service Manager and Licensed Insurance Advisor

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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.

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‍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.

About Assuris

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.

FAQ: Is PolicyMe legit? 

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PolicyMe life insurance review (2026 update) 

PolicyMe is a digital insurance provider offering term and permanent life insurance policies. Although it started life as an insurance broker and comparison platform in 2018, PolicyMe switched to selling its own life insurance products, issued by Securian Canada. 

PolicyMe is not an insurance broker or a comparison website. We sell life insurance directly to Canadian families, keeping costs low by reducing the operating expenses traditional insurers spend on captive agents and underwriting teams. 

PolicyMe life insurance: Our verdict

PolicyMe is consistently rated among the most customer-friendly life insurance companies for both price and service, PolicyMe offers a life insurance product that’s both simple and comprehensive, tailored to the needs of Canadian families. Affordable rates and straightforward term coverage with special perks for parents and couples make PolicyMe a competitive option for families in need of life insurance. 

How PolicyMe life insurance is different: We believe in simple, yet comprehensive life insurance. Other providers spend too much on traditional, paper-based underwriting and stack expensive riders on top of standard life insurance, which makes coverage complicated—and costly. We believe your family’s financial security should come in one affordable, hassle-free package. 

The perks we believe in

There are a few policy add-ons that we believe are so valuable for Canadian families, we’ve built them into every policy we sell rather than leaving them as optional perks. Each PolicyMe life insurance policy comes with $10,000 of child coverage and a 10% premium discount in your first year for couples who apply together. We won’t charge any extra to add these benefits to your policy.

In short: PolicyMe offers a few advantages you won’t get from other providers in the Canadian life insurance industry: trimmed-down operating costs, an anti-upselling approach to insurance sales, and human support on your schedule.

PolicyMe life insurance: Pros & cons

Like all insurance providers, PolicyMe has both strengths and weaknesses.

PolicyMe life insurance pros

PolicyMe life insurance cons

PolicyMe life insurance cost and value

PolicyMe’s term life insurance is one of the most competitively priced products on the Canadian market, thanks to the underwriting and distribution costs we’ve trimmed through our  direct-to-consumer application process. 

The table below compares PolicyMe’s competitive pricing across different age groups for non-smokers with a 20-year term insurance policy worth $500,000. 

^{* Table displays the approximate average monthly cost of a 20-year term life insurance policy with $500,000 in coverage.}

PolicyMe life insurance reviews and customer service

Our insurer rating methodology earned PolicyMe a “Great Customer Service” badge, based primarily on Google user reviews and Better Business Bureau (BBB) ratings. 

We analyzed 212 PolicyMe reviews on Google for a better understanding of what makes customers love PolicyMe. 

The verdict: While a few customers reported difficulty reaching an advisor or confusion about their policy details, most reviewers spoke highly of PolicyMe’s customer service, speedy application processing, and affordable pricing. Multiple users particularly noted feeling grateful for the time advisors took to make sure that they understood their coverage and got the best deal for their family. 

Want a closer look at PolicyMe’s customer experience? Here are real customer reviews:

PolicyMe life insurance products at a glance

PolicyMe offers two life insurance options: term and permanent life insurance. The vast majority of our policies are term life insurance policies, with term lengths available for 10, 15, 20, 25, 30, and 100 years. 

Term life insurance 

Term life insurance is PolicyMe’s bread and butter. Coverage options break down as seen below: 

• Terms: 10, 15, 20, 25, or 30 years
• Coverage: $100,000 to $5 million 
• Renewability: Renewable annually until you turn 85
• Convertibility: Option to convert to a permanent term-to-100 (T100) policy any time up to and including your 69th birthday
• Family coverage: $10,000 of free child coverage per dependent aged 6 months to 18 years and 10% couples discount for the first year

Term to 100 (T100) permanent life insurance 

Our focus at PolicyMe is on practical term life policies that meet the needs of most Canadian families. But some families need a more permanent product, so we give customers the option to convert to a term-to-100 permanent life insurance policy for lifelong coverage. 

• Term: Coverage that lasts to your 100th birthday

Premiums: Fixed premiums payable until age 100

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Why doesn’t PolicyMe sell whole life insurance?

We don’t sell whole or universal life insurance, because we simply don’t think they’re a good investment for most Canadians. While these products have their place in financial planning, primarily for high-net-worth individuals with complex investment needs, we’re focused on a different set of needs: financial protection for Canadian families raising kids, buying homes, and building careers.

The best tool to protect those goals is term life insurance, so that’s where we put our energy.

How PolicyMe compares to other providers

Take a look at the table below to compare PolicyMe with some of Canada’s leading life insurance providers.

^{* For each product, we calculated the average monthly premiums for a female non-smoker between 30-44. The results show the approximate cost of a 20-year term life insurance policy with $600,000 in coverage.}

^{** Compared to the average monthly costs for $600,000 of coverage for healthy, non-smoking individuals across a term length of 10-30 years and 26 term life insurance products.}

PolicyMe according to Reddit

Reddit is a great source of information about life insurance providers from actual customers and industry professionals. The catch: When you research life insurance on Reddit, you’re relying on anonymous posters’ knowledge and experience — which may or may not be relevant to your situation. 

Here’s what Redditors have to say about PolicyMe in 2025: 

• It’s great for people looking for simplicity: Quick and straightforward is PolicyMe’s guiding ethos. It’s not ideal for those in search of complex estate planning options or policies loaded with custom add-ons. 
• It’s best for healthy applicants: Life insurance premiums are based in part on your overall health, and PolicyMe’s simplified underwriting gives the best deals to applicants in good health. If that’s not you, Redditors suggest looking into other options or working with a broker. 
• It’s actually affordable: Redditors who’d purchased a policy with PolicyMe reported paying comfortably low rates for the amount of coverage they needed. 

It’s ideal for families with kids: Multiple Redditors cited PolicyMe’s free $10K term life insurance for kids as a reason for buying life insurance here rather than through another insurer.

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“I actually got life insurance in Ontario with Policyme about a year ago because they had 10k free coverage for kids. I confirmed with one of their advisors that it was convertible before I bought it, and haven't had any issues.” – Reddit user, Aug 2025

“PolicyMe is the easiest and cheapest if you’re healthy and just want something simple. Manulife and Sun Life are great but usually cost more. Canada Life is another good option.

Just compare quotes because prices change based on age and health. Don’t overcomplicate it term life is just about getting the best price from a reliable company.” –Reddit user, March 2025

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“I'm in a similar boat - married and just had a baby. I got term life insurance because I was told whole life insurance only makes sense for the top 1% of earners, and that's unfortunately not me.

I'm a 30 year old, female, and I pay less than $25/month for $500,000 in coverage. I got life insurance from PolicyMe, not sure if that helps. If I were you, I'd maybe shop around to see who has the best pricing. When I was looking there were 2-3 with similar prices, and I only ended up going with Policyme because they had free child coverage.” –Reddit user, Aug 2025

See how affordable term life insurance can be with PolicyMe

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The bottom line: Who should consider PolicyMe?

You should consider buying life insurance from PolicyMe if:

• You have kids: PolicyMe’s affordable rates and built-in child coverage at no added cost make it an ideal option for parents in search of secure financial protection for their children. 
• You want straightforward coverage: PolicyMe doesn’t have cash value policies, riders, or a complicated application process. We focus on no-frills term life insurance that offers a simple, direct death benefit for your loved ones. 
• You’re self-employed or retired: In addition to affordable life insurance, PolicyMe offers health and dental insurance and critical illness insurance—two key benefits often included in group employer benefits. 
• You want quick coverage with no appointments: PolicyMe’s life insurance application is fully digital. You don’t need to schedule an appointment or speak with a human advisor (although you can if you choose to!), and most customers only need to fill out a questionnaire with no need for a medical exam. 
• You’re young and healthy: Non-smoking Canadians under age 35 in good health have the greatest potential to save on life insurance by locking in a low rate early with PolicyMe. 

FAQs: PolicyMe life insurance

What is PolicyMe insurance?

PolicyMe is a fully digital direct-to-consumer insurance provider, offering three types of insurance to Canadians: term life insurance, critical illness insurance, and health and dental insurance. All of PolicyMe’s insurance policies are backed by Canadian Premier Life Insurance Company (operating as Securian Canada), a subsidiary of Securian Financial, but PolicyMe designs and distributes its own policies.

Who owns PolicyMe?

PolicyMe was founded by Laura McKay, Andrew Ostro, and Jeff McKay. PolicyMe partners with Securian Canada, a subsidiary of Fortune 500 company Securian Financial.

Is PolicyMe term life insurance worth it?

PolicyMe’s term life insurance is consistently among the most affordably-priced term life insurance products in Canada. If you’re looking for a simple life insurance plan offering a generous payout to your beneficiaries without any unnecessary exams or paperwork, PolicyMe’s term life insurance may be a good fit.

Is PolicyMe a Canadian company?

Yes, PolicyMe is a Canadian company. We’re based in Toronto but sell life insurance across the country.

How long does PolicyMe take to pay out?

PolicyMe pays out claims in as little as two weeks. The exact time it takes to pay out depends on the circumstances of your claim and how quickly each step of the process happens. Beneficiaries of a PolicyMe life insurance policy can submit a claim online with basic information about the policy in question. PolicyMe will then transfer the claim to Securian Canada, where an adjudicator will be assigned to process it, typically in a time frame of about two weeks.

What does PolicyMe actually do?

PolicyMe sells term life, critical illness, and health and dental insurance. As a life insurance administrator—not a broker or a comparison marketplace—PolicyMe designs and sells life insurance. We also help our policyholders manage their insurance plans, file claims, and keep up with other administrative tasks.

What types of insurance does PolicyMe offer?

PolicyMe offers three types of insurance: term life insurance, critical illness insurance, and health and dental insurance.

Is PolicyMe an insurance broker?

No, PolicyMe isn’t a life insurance broker. When the company was first founded, it briefly operated as an insurance broker, but switched to providing its own life insurance policies in 2021. Today, PolicyMe sells fully underwritten life insurance products backed by Securian Canada, along with multiple other insurance products including critical illness and health and dental insurance.