PolicyMe: How to Save Money on Life Insurancefull disclosure for further information.
What is Life Insurance
What types of life insurance products exist
Updated Dec 2, 2022
PolicyMe recently added a brand new product, the critical illness insurance. If you don’t have enough emergency savings to go through a severe illness, Critical Illness Insurance gives you and your family a financial safety net. If you have people in your life who depend on your income, you may want critical illness insurance. Severe illness frequently requires time off work or financial support for medical costs.
The most comprehensive insurance available in Canada, PolicyMe Critical Illness Insurance covers 44 critical illnesses, including more cardiovascular and cancer disorders than any other Canadian insurer.
For a complete list of 27 diseases that are fully covered by PolicyMe CII and those 17 that are partially covered early-stage conditions, please visit This link
Who Needs Critical Illness Insurance?
Certain groups of people might be especially interested in getting Critical Illness Insurance against unexpected expenses: Anyone without sufficient emergency savings to survive a critical illness, as well as those who have children, are employed but whose employer’s group insurance doesn’t really cover critical illnesses, and self-employed entrepreneurs
How to apply for Critical Illness Insurance
There are 2 ways that you can get Critical Illness Insurance with PolicyMe:
- You can easily add Critical Illness Insurance after you’ve completed your 20-minute or less Term Life Insurance application.
- In 20 minutes or less, apply only for Critical Illness Insurance, and find out right away if you’re approved.
- To determine your policy rate, complete your application. (*Additional steps only if needed)
- Check and activate your policy in less than 10 minutes.
If you’re curious about whether Critical Illness Insurance is a smart choice, check out this blog post “Is Critical Illness Insurance worth it?” for all the details.
When should a person get life insurance?
- Marriage or long-term relationships: You want to provide financial security for your partner or spouse when you pass away.
- Adoption or giving birth: You now have a family and want to contribute to ensure the future of your kids.
- Buying a house: Long-term mortgage commitment and maintenance of the house increase the risks even more. If you pass away, you want to do everything you can to support your family.
- Pay for the funeral and related costs
- Replace all or a part of your income
- Pay off the mortgage
- Have a backup to secure their safety
- Make estate tax payments
If you’re unsure about how much Life Insurance you need, check out this post “How much Life Insurance do I need?” for valuable information!
How PolicyMe Differs from Other Insurance Providers?
PolicyMe Key Features
- Canada’s most affordable prices
- Instant approval
- 100% online submission
- Usually no medical exam is necessary
- Satisfaction guarantee
- Have access to qualified advisors
- Also offer group life insurance for businesses
- Now available Nationwide!
- Instant approvals may not be available to those with complicated situations or pre-existing medical conditions.
- Only limited to life insurance and critical illness insurance.
Is PolicyMe a Secure and legit Insurance Provider?
How to Apply for PolicyMe
- Visit the official PolicyMe website.
- Select the Get Started button.
- Enter your birthday, sex, and smoking status.
- Enter your chosen coverage amount and term length.
- Answer a few questions: Address, financial situation, personal circumstances, your family history, medical history, and other significant information.
- Once PolicyMe has evaluated your information, it will immediately tell you whether your application is approved
- Or if more information is required.