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Everything about the process is online, with coverage and term advice tailored to your needs. Need some pointers? Our licensed insurance advisors are available Monday to Friday.
Answer 4 questions, adjust your coverage amount & length (if you like), and get a quote in seconds.
Most people are approved without a medical follow-up.
Your approval lasts for 90 days, so take your time! You can buy your policy whenever you’re ready.
Affordable, fully underwritten life insurance and critical illness insurance policies.
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Financial protection for your loved ones if you were to pass away
Coverage amounts ranging from $100,000 to $5M
Term lengths ranging from 10, 15, 20, 25 or 30 years
Couples Coverage: Save 10% off your rates in the first year when you apply with your partner
Child Coverage: Get $10,000 in free life insurance for each of your kids (or future ones!)
Option to renew your policy annually until you turn 85, without any additional medical testing or questions required
Rates are locked-in for the full term
Option to convert your policy to a new policy with a longer duration within the first 5 years
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Financial protection for you in case you're diagnosed with one of the covered conditions
Coverage amounts ranging from $10,000 to $1M
Term lengths ranging from 10, 15, 20, 25 or 30 years
44 conditions covered
No waiting period for 80% of conditions
Can be used to cover any expenses and support any time off of work while you recover from the critical illness
Rates are locked-in for the full term
Option to convert your policy to a new policy with a longer duration within the first 5 years
Financial protection for you and your family to help reduce and protect against out-of-pocket healthcare costs not covered by government plans or work-provided benefits.
Plans include benefits you care about, such as prescription drugs, dental care, vision care, mental health services and more
No lengthy interviews or bulky medical questionnaires
A simple online process with instant approvals
Easy, same day activation online or pick your start date
Direct billing available for many services
Rates are locked in for a year and renew on an annual basis
Flexible plans let you add or remove members, or cancel anytime
Here’s why your friends, neighbours, and colleagues choose PolicyMe for their insurance needs.
Power50: PolicyMe named one of Canada's most impactful companies in 2021
"Best of all, you won’t need to haggle with an insurance agent or fill out mountains of paperwork.
PolicyMe will take care of your application for you, free of hassle and free of charge."
Women of the Year 2021: PolicyMe Co-Founder and COO Laura McKay is putting families first by redefining the insurance industry
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You probably need life insurance if you have people who are relying on you financially, whether that's a partner, young children, elderly parents or anyone else. You should also consider life insurance if you have large debts like a mortgage or business loan.
It depends on your financial situation, but for most Canadian families, yes. Term life insurance is for those who want financial protection for a set period of time, usually between 5-30 years while raising a family or paying off debt.
It’s a much more affordable option than whole life insurance, which can be more than 8x more expensive. And because we believe term life insurance is the better option for most Canadians, term is the only option we offer.
To read a comprehensive review of the best life insurance companies, click here.
You bet it is. Health, occupation, and lifestyle questions are asked upfront, giving you greater certainty at claim time.
It’s the tax-free amount that your loved ones would receive if you were to pass away.
Nope! During your policy term, your monthly price is locked in and will not increase.
If this happens, we’ll be here for your loved ones to help them through the claims process. We provide an experienced Claims Concierge as the single point of contact for your family – from making the insurance claim to getting the payout.
The amount of coverage you need depends on factors like your income, debts, and family needs. A general rule of thumb is to aim for coverage that equals 5-10 times your annual income. But everyone’s needs are different, so consider your financial obligations and future goals to determine the right amount for your situation.
Critical illness means being diagnosed with a serious health condition that is often life-threatening.
Insurance companies have different definitions of what a critical illness is and what conditions qualify. Common conditions such as stroke, cancer and heart attack are usually covered in critical illness insurance policies.
The purpose of critical illness insurance is to provide financial protection to an individual in the event that they are diagnosed with a serious condition or illness. Critical illnesses can often require a lot of out-of-pocket expenses that are not covered by public healthcare or employment benefits and can often require you to take time away from work without pay.
The lump sum payment you get from critical illness insurance can help offset these expenses and provide additional financial security during this difficult time.
Illnesses typically covered by critical illness insurance in Canada include heart attack, cancer, paralysis, stroke, organ transplants, Alzheimer's, kidney failure and multiple sclerosis.
Canadian insurers have different definitions of what a critical illness is, but it is essentially a life-threatening illness. Some insurers will only cover serious illnesses like heart attack, while others will also cover early-stage diseases such as early-stage breast cancer.
In Canada, PolicyMe recently introduced the most complete critical illness insurance that covers 44 conditions: full coverage for 27 conditions and partial coverage for 17 conditions.
Some conditions specify an amount of time that has to pass after you are diagnosed before you qualify for a critical illness payout. This differs by insurance company and by the condition that is covered. Usually, cardiovascular conditions (like heart attacks) are most likely to have a waiting period. That said, most of PolicyMe's covered conditions don't have waiting periods to qualify.
Critical illness insurance typically pays out between $10,000 to $1M in Canada. You choose your coverage amount when you apply for and sign your critical illness policy. If you want a higher coverage amount, your monthly premium will also be higher, though this rate is also determined by your health status, age and other factors.
Critical illness insurance is always paid out as a single lump-sum amount.
Yes, you can always cancel your critical illness insurance with any Canadian provider.
With PolicyMe, you get a full refund on any premiums you have paid if you cancel within 30 days of the date your critical illness policy became active.
If you cancel after this 30-day period, you will only receive a pro-rated refund of any premiums you have prepaid. You won’t be charged any cancellation fees or penalties.
Yes, you can buy critical illness insurance by itself in Canada. At PolicyMe, you can buy critical illness coverage by itself, you can buy it with term life insurance or you can add it on to existing term life insurance coverage after the fact.
Health and dental insurance provides coverage for a range of medical and dental expenses that aren’t covered by provincial healthcare plans in Canada. This type of insurance helps reduce out-of-pocket costs for services like prescription drugs, dental check-ups, orthodontics, physiotherapy, and mental health services.
Depending on the plan, coverage can vary widely, including everything from basic preventative care to more extensive treatments and specialized care. It can be an essential tool for managing unexpected health expenses and ensuring that routine care is accessible and affordable.
The cost of health and dental insurance in Canada can vary significantly based on factors like the level of coverage, your age, health status, and whether you're purchasing individual or family coverage. On average, individual plans can range from $50 to $150 per month, while family plans may cost between $100 and $300 per month.
The costs can be higher for more comprehensive plans that cover additional services like vision care, prescription drugs, and extended health services. It’s important to compare different plans and consider your healthcare needs to find a policy that balances cost and coverage.
Not all health insurance plans will automatically include dental coverage. Many basic health insurance plans focus on medical services like hospital visits, prescription drugs, and specialist care. While it depends on the insurance company you go with, dental insurance sometimes requires an additional premium or is offered as a separate plan.
Some comprehensive health insurance packages do include dental coverage, but it’s crucial to review the details of any plan to understand what is and isn't covered.
Vision care is sometimes included in basic health insurance plans, but there are certain policies in which you’ll need to pay an additional premium to add vision coverage on. For clarity, vision insurance usually covers expenses like eye exams, prescription glasses, and contact lenses.
Some extended health plans may offer limited vision care coverage as part of a broader package, but this is not always the case. It will depend on the type of plan you choose and the company you go with. Reviewing the specific terms of your health insurance plan is essential to determine if vision care is included.
The best health and dental insurance plan depends on your individual or family needs, budget, and the type of coverage you require. It’s important to consider factors like the range of services covered, the cost of premiums, deductibles, and any exclusions or limitations. Doing your research or consulting an insurance advisor is a good idea, because the health and dental insurance market is so widely varied.
Comparing multiple insurance providers, reading reviews, and consulting with an insurance advisor can help you find a plan that offers the best value and meets your specific health and dental care needs.
In Canada, health insurance provided by an employer typically expires shortly after your employment ends, often at the end of the month in which you leave the job. Some employers may offer a grace period, but this is not guaranteed. It’s important to check the terms of your specific plan to understand when your coverage will end.
Not interested in our glowing reviews? Just click “Filter Reviews” to read the 1-and-2 star reviews that we’ve worked to make better. (See, we told you we were honest.)
