Easy access to coverage, even with pre-existing conditions.
Most applicants approved online, often without a medical exam.
Compare quotes for 100k, 20-year term life insurance
Sex | Age 50 | Age 55 | Age 60 |
|---|---|---|---|
Men | $33.18 | $56.92 | $97.20 |
Women | $25.09 | $40.82 | $65.10 |
*Values shown above are PolicyMe monthly averages for average health, non-smokers as of March 2026
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Call us Monday to Friday from 9am to 5pm at +1 (866) 999-7457, email us at advisor@policyme.com or schedule your call.
- Q&A: learn everything you need to know about your policy
- Needs Analysis: get help choosing the right coverage
$10B+ in active policies across Canada
Backed by Securian, A+ rated by A.M. Best
4.8 stars from 1,000 + reviews
10% off for couples in their first year
Join 30,000+ Canadians who choose PolicyMe
PolicyMe secures total funding of $51M with plans to invest in AI and data infrastructure to enhance underwriting and make insurance more accessible for Canadians coast to coast.
Best of all, PolicyMe will take care of your application for you, free of hassle and free of charge.
PolicyMe named one of Canada's most impactful companies with Co-Founder and COO Laura McKay recognized in Women of the Year 2021.
Financial security for your loved ones
In order to decide how much coverage to buy, we've created a free coverage calculator that does the math for you. All of these factors are important points to consider.
Your partner's financial stability
If your spouse doesn't work, works part-time, or is already retired, the gap between what they receive and what they need to maintain their standard of living can be significant.
Outstanding mortgage and debts.
If you still carry a mortgage or other debt, your death doesn’t make it disappear. Your partner or family inherits the payments. In Canada’s housing market, many people in their 50s still owe $200,000–$400,000+, especially if they refinanced, upgraded, or bought later in life.
Funeral or end-of-life costs
The average Canadian funeral costs between $5,000 - $15,000, and that's before cemetery fees, legal costs, and estate settlement. Add in probate, outstanding medical bills, and administrative expenses, and the total can easily reach $25,000+.
Tax obligations your estate will face.
When you die, your RRSP and RRIF balances are treated as income and taxed in full (unless they transfer to a surviving spouse). If you own a second property, a cottage, or investment real estate, the capital gains on those assets are triggered at death. Life insurance payout is tax‑free and can be used specifically to cover these liabilities, so your family isn’t forced to liquidate assets at a bad time to pay the CRA.
Two types of coverage, one simple application
Protect yourself and your family's future from life's biggest financial risks.
Term Life Insurance
Term Life Insurance
- Coverage amounts from $100K to $5M with locked-in rates
- Couples save 10% in year one
- Renew or extend your coverage without new medical testing
Critical Illness Insurance
Critical Illness Insurance
- 44 conditions covered, more than any other Canadian insurer!
- 80% of conditions pay immediately with no waiting period
- Use the money however you need: medical bills, time off work...
Frequent Questions:
Most applicants don’t. 60% of PolicyMe clients are approved online by answering health questions. If your health profile requires additional review, we may request a phone interview or a paramedical visit. We cover the cost and will explain what’s needed before anything is scheduled.
Your online quote is based on the information you provide. During underwriting, we may verify details through additional questions. If your health history differs from what was entered, the rate may adjust.
That depends on what you’re covering. If your main goal is bridging to retirement, a 10 or 15-year term often aligns well. If you have a longer mortgage or dependents still in school, a 20-year term may be appropriate. Our advisors can help you match term length to your specific situation.
Group coverage through an employer is typically 1–2x your salary, and it ends when you leave the company or retire. If your employer plan won’t follow you into retirement, a personal policy ensures continuity regardless of your employment status.
Yes. Couples who apply together receive a 10% discount on their firstyear’s premiums. Each person gets their own policy with independent coverage.
PolicyMe is a licensed insurance provider in Canada. Policies are underwritten by Securian Canada, a federally regulated insurer with an A+ (Superior) rating from A.M. Best. We’ve issued over $10 billion in active coverage across Canada.
In many cases, yes. Common conditions like high blood pressure, high cholesterol, or Type 2 diabetes don't automatically disqualify you. What they may affect is your rate. PolicyMe evaluates each applicant individually based on the specifics of your condition, how long it's been managed, and your overall health profile.
Term 100 provides lifelong coverage with level premiums, but it comes at a significantly higher monthly cost than standard term life. For many Canadians in their 50s, the goal isn't lifelong coverage. It's protecting a specific window: the remaining mortgage, the income gap before retirement, or a spouse's financial stability over the next 10 to 20 years. A standard term policy covers that window at a fraction of the cost.
No, but you can buy them as a bundle. Critical illness insurance pays a tax-free lump sum if you’re diagnosed with a covered condition such as cancer, heart attack, stroke, or coronary bypass surgery. The money goes directly to you, and you can use it however you choose. It’s separate from life insurance and pays while you’re alive.
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!
