PolicyMe Launches Canada's First Unified Life Insurance Journey

For the first time in Canada, every applicant is evaluated across the full coverage spectrum in a single session and automatically matched to the best-priced coverage they qualify for

TORONTO--(BUSINESS WIRE)--PolicyMe, a Canadian digital-first life insurance platform, today became the first Canadian platform to evaluate every applicant across the full life insurance spectrum, from fully underwritten term coverage to simplified issue and guaranteed issue, in a single real-time session. Every eligible Canadian who applies now receives a coverage offer, automatically matched to the best risk-adjusted price they qualify for. Developed in partnership with Securian Canada, the launch marks a significant step toward making life insurance more accessible for every Canadian.

For most Canadians, life insurance begins with a question the industry created but left customers to answer alone: which product should I apply for? Get it wrong and the cost compounds for years. Canadians who self-select into a guaranteed issue policy when they could have qualified for a fully underwritten product routinely pay up to five times more¹ for the same dollar of coverage. PolicyMe's answer is to take that mental load off the customer and let the platform recommend the right product.

"Life insurance is one of the most consequential financial decisions Canadians make, and the industry has historically required them to make it before they have the information to do it well," said Andrew Ostro, CEO and Co-Founder of PolicyMe.

Every applicant now starts in exactly one place: a single PolicyMe application. Underneath it runs an engine of more than 1,000 reflexive underwriting rules that surfaces only what's relevant to each profile, with most applicants answering around 30 questions. A real-time triage layer assesses each applicant as they go and routes them to the best-priced coverage their profile supports.

The result is speed that the legacy process can't match. In 2025, most PolicyMe applicants were approved without a medical exam, with the majority receiving an offer on the spot. The same session simultaneously returns a real-time decision on critical illness coverage, which can provide a lump-sum payout on diagnosis of any of 44 covered conditions, with no separate application required. While Canadian carriers have long underwritten life and critical illness together, PolicyMe is the first to do it digitally, in one session, with an instant decision on both.

The engine also surfaces options people assume are closed to them. PolicyMe's own data shows that roughly one in four applicants aged 51 and older, who disclosed a pre-existing condition, still qualified for fully underwritten coverage. "The goal isn't just to help every Canadian get covered, it's to help them get covered at the right price," said Ostro. "Many assume they'll be declined because of a health condition and default to a guaranteed issue product because it feels like a safe bet. We want to challenge that assumption."

For Canadians who don't qualify for fully underwritten or simplified issue coverage, PolicyMe partnered with Securian Canada to build and issue a new guaranteed issue product that provides permanent life insurance with no medical questions and coverage up to $100,000.² The product matters beyond those who can't medically qualify: PolicyMe's own research found that 13% of Canadians aged 55 and older say the prospect of a medical exam makes them less likely to purchase life insurance altogether.³ For this group, guaranteed issue insurance isn't a fallback, it’s what gets them covered. Premiums are level and stop at age 100, and the policy includes built-in accidental death, terminal illness, and transportation benefits, designed to cover final expenses: funeral costs, small estate debts, or unexpected costs for a surviving spouse.

The unified journey is one step toward PolicyMe’s broader vision of creating a more intuitive insurance experience, one that grows with each customer across the insurance products they need, from a single policy to a complete picture of their household's protection.

About PolicyMe

PolicyMe is Canada’s leading digital-first life insurance platform, offering straightforward and affordable financial protection for families from coast to coast. Its product suite now spans life, critical illness, and health & dental insurance. To date, the platform has helped over 47,000 Canadians secure more than $15 billion in coverage. The company also offers B2B2C solutions, partnering with organizations to provide seamless digital insurance options. Founded by a team of insurance experts and technology entrepreneurs, PolicyMe is committed to making insurance more accessible. The company operates with a remote-first culture, attracting top talent from across Canada. To learn more, visit www.policyme.com.

^{1 Based on a comparison between fully-underwritten and guaranteed issue term-to-100 life insurance products across multiple insurers, with $50,000 in coverage for a 65-year-old non-smoking woman.
2 PolicyMe guaranteed issue life insurance does not build cash value, provide investment-linked features, allow policy loans, or permit the policy to be used as collateral for a loan.
3 PolicyMe Life Insurance Gap Study, 2025. Available at policyme.com/blog/life-insurance-gap-study.}