The easier way to buy life insurance in Ontario

Curious how much life insurance costs in Ontario?

We have good news. With PolicyMe, you can get affordable term life insurance, online and in 20 minutes or less.

Get an instant quote, 100% online

There are so many life insurance options in Ontario. Term versus permanent, $100,000 in coverage versus $1M. Just know: life insurance doesn’t have to be expensive, complicated or unreliable. See for yourself.
Streamlined process = lower rates*
Get your quote online in seconds
Apply online in 20 minutes**
Get an instant decision on your application
Honest advice from non-commissioned advisors
Backed by Canadian industry giants
*PolicyMe uses technology to remove unnecessary steps and costs
**Average application time is 20 minutes or less

Life insurance is more affordable than you think

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Gender
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Female
Smoker?
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*Quotes are based on our customers’ average coverage amount and policy length of $500,000 over 20 years.

Your monthly rate

starting from

$20.75

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Compare Ontario life insurance solutions and find out what's right for you

SunLife Go Term life insurance

Canada Life life insurance

Manulife CoverMe life insurance

PolicyMe Term life insurance

Average monthly price for term life insurance, woman**

**30-year-old non-smoking female, 20-year term, $250,000 in coverage

How much life insurance can I get?

Can I get a quote online?

How soon can I get my decision?

When will I know if I've been approved?

Can I speak to someone on the phone?

How long does my coverage last?

Is there a discount for applying with my partner?

Can I convert to permanent life insurance later?

How to buy?

Average monthly price for term life insurance, man*

*30-year-old non-smoking male, 20-year term, $250,000 in coverage

$22.28 / month
$18.45 / month
$100,000 to $1M
Yes
No. You need to talk to an advisor or do a telephone interview.
Yes
After applying, 1-3 weeks for a decision.
In about 3.5 weeks
At least 1-2 weeks longer to be underwritten compared to us.
In about 19 days
Appointment with an advisor
Appointment with an advisor
After applying, 1-3 weeks for a decision.
In about 90 days
Appointment with an advisor
No public information available on % discount.
No public information available on % discount.
Yes. 3% discount on one policy fee. You also save $5 on administration costs.
5 to 50 years, no specifics on website
10 year term, renewable until age 85
Yes, after the first anniversary of the policy
Yes
canadalife.com
manulife.ca
10 & 20-year terms available
No
sunlife.ca
$100,000 to $1M
$100,000 to $5M
Yes
100% of applicants get an instant decision.
About 50% of eligible applicants are instantly approved. 1-2 weeks to approval if medical exam is booked immediately.
Non-commissioned advisors are available to chat 7 days a week.
Couples can save 5% each on their monthly premium.
10, 15, 20, 25 or 30 year terms available
Policy Renewal Option coming in early 2022
Up to $20M
$16.88 / month
$18.16 / month
$19.80 / month
$20.16 / month
$17.74 / month
$13.37 / month
*30-year-old non-smoking male, 20-year term, $250,000 in coverage
**30-year-old non-smoking female, 20-year term, $250,000 in coverage

SunLife Go Term life insurance

Manulife CoverMe life insurance

PolicyMe Term life insurance

Average monthly price for term life insurance, woman**

**30-year-old non-smoking female, 20-year term, $250,000 in coverage

How much life insurance can I get?

Can I get a quote online?

How soon can I get my decision?

When will I know if I've been approved?

Can I speak to someone on the phone?

How long does my coverage last?

Is there a discount for applying with my partner?

Can I convert to permanent life insurance later?

How to buy?

Average monthly price for term life insurance, man*

*30-year-old non-smoking male, 20-year term, $250,000 in coverage

$22.28 / month
$18.45 / month
$100,000 to $1M
Yes
Yes
In about 3.5 weeks
In about 19 days
Appointment with an advisor
After applying, 1-3 weeks for a decision.
In about 90 days
Appointment with an advisor
No public information available on % discount.
Yes. 3% discount on one policy fee. You also save $5 on administration costs.
10 year term, renewable until age 85
Yes
manulife.ca
10 & 20-year terms available
No
sunlife.ca
$100,000 to $5M
Yes
100% of applicants get an instant decision.
About 50% of eligible applicants are instantly approved. 1-2 weeks to approval if medical exam is booked immediately.
Non-commissioned advisors are available to chat 7 days a week.
Couples can save 5% each on their monthly premium.
10, 15, 20, 25 or 30 year terms available
Policy Renewal Option coming in early 2022
$100,000 to $1M
$18.16 / month
$20.16 / month
$17.74 / month
$13.37 / month
*30-year-old non-smoking male, 20-year term, $250,000 in coverage
**30-year-old non-smoking female, 20-year term, $250,000 in coverage

Benefits of term life insurance with PolicyMe

Putting Ontario families first with honest, uncomplicated and affordable life insurance

Affordable

Roughly 40% of a typical life insurance premium is spent on unnecessary costs and underwriting steps. With our technology, we’ve streamlined the process and pass the savings on to you.

Honest Advice

Our life insurance advisors are 100% non-commissioned. Which means you’ll never be sold more life insurance than you need.

Uncomplicated Process

Our 100% online application means no hassle, dreaded Zoom meetings or coffee chats, so you get to check this off your to-do list from the comfort of your own home.

Peace of mind

You want to protect your family with life insurance but may not have the time or resources to do it. That’s why we’ve made the experience quick, simple and affordable, so you can rest assured knowing that you and your family will be covered when you need it most.

Get a quote online

We’re here to help you get the financial protection your family deserves.

That’s why PolicyMe has removed unnecessary steps and costs so that your same-quality policy is a lower rate than other policies in Ontario. 

Talk to an advisor

Give us a call at: +1 (866) 966-7457

Our Ontario-based advisors are available to chat 7 days a week, from 9AM to 6PM ET.

You can also send us an email anytime.

P.S. There's never an obligation to chat. Promise.

Get simple, honest advice about life insurance

Frequently Asked Questions

Life insurance used to be complicated, but we’re making it easier for Ontario families to understand and buy so they can get the coverage they deserve.
How can I save money on life insurance in Ontario?
How does life insurance work in Ontario?
Does a lower rate mean lower quality?

When you're ready, we're here for you

Enough talk – we know you’re busy. We're here to help when you’re ready to cross ‘get insurance – seriously, just do it’ off your to-do list
You can always call +1 (866) 999-7457 or email advisor@policyme.com

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