Is PolicyMe Legit? What Users Are Saying (2026)

With over $5 billion in life insurance policies sold, PolicyMe has become one of the largest online life insurance platforms in Canada. The company now offers a full suite of coverage nationwide across every Canadian province and territory, including convertible and renewable term life insurance, T100 permanent life insurance, Health & Dental coverage, and critical illness insurance.

A life insurance policy can provide a safety net for your loved ones in the event that you suddenly pass away and are no longer able to provide for them.

Is PolicyMe legit, though? Can you trust the company with your money and data?

Keep on reading to learn if the company is trustworthy, the policies they offer, and what the pros and cons of using PolicyMe are.

What Is PolicyMe?

PolicyMe launched its life insurance calculator in 2018, allowing users to compare and contrast life insurance quotes based on the information they provided.

In March 2021, PolicyMe partnered with Canada Premier Life Insurance to launch its first 100% digitally-underwritten term life insurance policy.

As it’s a relatively new player in the life insurance industry, consumers are right to question whether or not PolicyMe is a legitimate company. While the platform primarily focused on referring customers to insurance providers in its early days, its partnership with Canada Premier took PolicyMe to an entirely new level.

Today, PolicyMe offers convertible and renewable term life insurance, T100 permanent life insurance, Health & Dental coverage, and critical illness insurance — all available nationwide across every Canadian province and territory.

To apply, consumers can use PolicyMe’s easy insurance calculator to receive an instant quote and compare insurance policies offered through Canada Premier Life Insurance. 

Is PolicyMe Legit? Customer Feedback

I always recommend doing a bit more research into the background and reviews a company has before forking over your hard-earned money. Given how new of a company PolicyMe is, it’s understandable that shoppers would want to exercise caution before signing a contract for a life insurance policy. 

So, let’s take a look at what the company’s ratings look like. 

Better Business Bureau-Accredited 

PolicyMe has been a BBB-accredited business since June 18th, 2021, and has received an A+ rating. To receive BBB accreditation, a business must meet good business practice requirements laid out by the BBB, one of which includes a commitment to resolve customer complaints. 

So far, PolicyMe’s BBB profile has yet to receive any complaints, which is a good indication of a legitimate company. 

Trustpilot

PolicyMe has a 3.5-star (out of 5) rating on Trustpilot, which would indicate that there may have been some unsatisfied customers. However, PolicyMe’s Trustpilot page hasn’t received any written complaints or negative reviews, which is a good sign of trustworthiness.

Reviews.io

Review.io is a newer business review platform that’s similar to Trustpilot. On this platform, PolicyMe has received excellent ratings with an overall 4.8-star rating (out of 5) based on 734 customer reviews, most of which come from verified customers. 

Most of the reviews mention how fast PolicyMe is, the company’s friendly customer service, and overall affordable rates. 

Reddit & Social Media

Although social media isn’t always the best place to find reviews, you’ll often find some public opinions that you won’t find on more official review platforms. 

A brief look through the r/PersonalFinanceCanada group shows that some PolicyMe customers have been dissatisfied with marketing and spam emails they’ve received from the company. 

Others seemed to have difficulty with PolicyMe's procedure to renew their policy at the end of their term.

However, PolicyMe has recently introduced an automatic renewal feature for term life insurance policies. Existing policyholders can opt-in, while new policies include it by default.

Designed for individuals with changing health, the renewal process requires no reapplication, medical exams, or underwriting. Policies now offer yearly renewable term life insurance (YRT) and provide ample reminders to allow policyholders to opt-out if desired.

With insurance companies, you'll always have dissatisfied consumers, but PolicyMe seems to be above average in customer satisfaction for life insurance.

Does PolicyMe Offer Affordable Policies?

Traditionally, if you wanted to apply for a life insurance policy, you’d have to call an insurance provider. Then, you’d have to arrange an in-person meeting, sit down with an agent, undergo a medical exam, and then wait days or even weeks to receive a quote.

PolicyMe has cut out a lot of the hassle now.

Using their platform, you can apply for term life insurance online in a matter of minutes without having to speak on the phone, undergo a medical exam, or meet with an agent in-person. You'll receive an instant decision right after you submit your information.

In many cases, you’ll receive instant approval and a quote, allowing you to get the coverage you need in less than 24 hours.

Since PolicyMe is a 100% online platform, it can offer far better rates on term life insurance than most traditional insurers. PolicyMe all but eliminates the need for agents and doesn’t have the overhead expenses associated with a traditional brick-and-mortar insurance agency.

If you're a person who needs some guidance, there are PolicyMe advisors that you reach via phone or email seven days a week.

Policies Offered On Policy Me

PolicyMe currently offers convertible and renewable term life insurance, T100 permanent life insurance, Health & Dental coverage, and critical illness insurance to customers nationwide. Here’s a quick breakdown of the core life insurance and critical illness products so you can determine which best fits your needs.

Term Life Insurance

Term life insurance provides a lump sum payment to your beneficiaries in the unlikely event that you pass away. PolicyMe’s term life plans are now both convertible and renewable, offering more flexibility than ever before. This lump sum can help cover things like your funeral costs and ensures that your loved ones are able to keep a roof over their heads.

Term life insurance provides coverage for a specific term, which typically ranges between 10 and 30 years. Unlike a whole life policy, a term life policy doesn’t allow you to build the policy’s cash value. However, term life insurance is far more affordable and simple.

As a nice bonus to its customer, PolicyMe is the only Canadian company to provide $10,000 of free child coverage with every policy.

Critical Illness Insurance

Recently, PolicyMe launched its first digitally-underwritten critical illness insurance policy backed by Canada Premier. Critical illness insurance provides a lump sum payment to you if you’re diagnosed with a disease or critical illness (such as heart disease, cancer, etc.).

PolicyMe Critical Illness Insurance covers 44 critical illnesses - the most extensive protection in Canada, including coverage for more cardiovascular & cancer conditions than any other Canadian insurer. 

This provides a financial safety net to help you stay on top of bills and private medical care.

Pros & Cons Of Using PolicyMe

Here’s a quick overview of the pros and cons of using PolicyMe to purchase coverage.

Pros

• Get affordable nationwide coverage, including convertible and renewable term life insurance, T100 permanent life insurance, Health & Dental coverage, and critical illness insurance
• Quick application process
• All applicants receive an instant decision
• Often, no medical exam is required
• Critical illness insurance is offered as well
• All insurance policies backed by Canada Premier

Cons

• Whole life and universal life insurance policies aren’t offered
• PolicyMe doesn’t offer disability insurance
• PolicyMe doesn’t offer insurance policy bundling

PolicyMe Can Help You Find Great Rates On Term Life Insurance

Compared to long phone conversations and tedious in-person sales pitches, PolicyMe’s 100% online application process makes applying for life insurance coverage easier than it’s ever been in the past.

When combined with PolicyMe’s critical illness insurance, you’ll be covered against worst-case scenarios in life or death.

Before you apply for PolicyMe coverage (or any other life insurance), be sure to read my guide detailing how to save money on life insurance!