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"Is there an "elephant in the room" for Canadian life insurance?" - Wealth Professional

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October 8, 2020

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Latest PolicyMe Press from Wealth Professional

Is there an "elephant in the room" for Canadian life insurance?

Canadians are buying the wrong kind of life insurance even when working with advisors, according to a new report. Online insurance platform and advisor PolicyMe is sure to provoke robust response from the industry with its conclusion that many policies that have been sold to individuals despite being unsuitable. The report reveals that 49% of Canadians surveyed have bought permanent life insurance products which it says are normally only suitable for high-net-worth-individuals and possibly those aged 55 and over, when they should have bought term life products.

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About PolicyMe

PolicyMe is a digital insurance solution on a mission to make buying life, health, and critical illness insurance effortless. We’ve cut out the unnecessary steps, lowered costs, and built a straightforward way for Canadians to get covered without the hassle. We know insurance isn’t just about policies; it’s about people, not paperwork. That’s why we focus on giving honest advice, fair prices, and a process that actually makes sense. No upselling, no confusion—just reliable coverage designed with you in mind.

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General Inquiries: info@policyme.com

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