We pulled 2023 sample rates using the Policygenius online quote tool. Policygenius is an insurance broker, so it doesn’t actually sell policies.
However, it does offer average quotes based on the insurance companies it partners with. These are estimated monthly premiums for a $500,000, 20-year term life policy for a man and woman in great health. Your rate may vary based on your policy, age and health.
Rates are provided by Policygenius and valid as of March 2023.
What life insurance companies does Policygenius work with?
Policygenius partners with most major life insurance companies in the US, including:
Legal & General (formerly Banner Life)
Mutual of Omaha
How to get a quote from Policygenius
Use the Policygenius widget and follow four steps:
Enter your personal information, including your age, gender and ZIP code.
Choose your desired policy length and coverage amount.
Review monthly estimates based on different health categories.
Select Compare quotes to be redirected to the Policygenius website.
Once you land on the Policygenius website, follow the steps to provide additional details and forms for a more precise estimate.
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What types of coverage does Policygenius offer?
Policygenius is a life insurance marketplace and doesn’t sell policies directly. Instead, it matches you to two primary types of life insurance from top providers.
Term life. Most policies cover you for 10, 20 or 30 years. Once coverage ends, your premiums can increase depending on the provider. Outliving the policy means you won’t see a payout.
Whole life. Premiums are typically higher than a term policy, but coverage is permanent if you stay on top of your payments. Policies can also gain cash value.
While Policygenius only matches you with term life and whole life insurance, its partners sometimes offer other types of coverage, which may include:
Return-of-premium term life. If you outlive your policy, the insurer pays back the premiums you’ve paid over the years.
Universal life. A type of whole life that gives you the option to change your premium throughout the life of your policy. Lowering premiums and borrowing from the cash value can decrease the value of the payout.
Variable life. This type of permanent policy allows you to invest your payments in subaccounts, allowing you to earn dividends.
Variable universal life. A combination that allows you to change your premiums from universal to the subaccounts of variable life.
Accelerated life. You can purchase this type of policy in just a few weeks without a medical exam.
You can add riders to your policy for a fee, depending on the insurer you’re matched with. Common riders include:
Accelerated death benefit rider. Allows you access to some or all of your benefit in the event you’re diagnosed with a terminal illness.
Accidental death benefit rider. Pays an additional amount if your death is caused by an accident.
Each insurer has its own underwriting standards and criteria, but these are some of the most common factors considered by life insurance companies when calculating rates.
Age. As you get older, your risk of developing major health conditions rises — and so does your policy’s premium.
Gender. The average life expectancy is 73.2 for men and 79.1 for women, according to the CDC. Because of this disparity, men tend to pay more for life insurance.
Overall health. Weight, cholesterol and serious medical conditions can also affect your premiums. However, your risk may be negated if you manage your conditions with medication, therapy or other treatment.
Occupation and high-risk hobbies. People who work or play in conditions with life-threatening hazards, like skydiving or roofing, usually pay more to offset the risk.
Tobacco or alcohol use. Frequency and when you last used often affects how heavily these are weighted. Even occasional tobacco use can mean higher premiums.
Policygenius life insurance reviews and complaints
Policygenius boasts mostly strong customer reviews. As of March 2023, more than 90% of users on Trustpilot rate the site as 5 stars, while less than 2% rate it as 1 star.
Customers compliment the easy-to-use interface and the service team’s expansive knowledge of life insurance. The few complaints primarily claim excessive emails and calls after declining a policy.
Policygenius is accredited by the Better Business Bureau (BBB). Fifteen customers have lodged complaints against it in the last three years, which is low for a business of its size.
AM Best financial rating
4.71/5 out of 202 customer reviews
4.8/5 out of 4,148 customer reviews
Customer reviews verified as of
12 March 2023
Compare life insurance companies
Wondering how Policygenius stacks up to other insurers? Explore life insurance companies’ perks and benefits, and select view rates to get a quote.
How accurate are the quotes on Policygenius? Policygenius says that more than 80% of the policies sold are within $10 of the online quote.
How does Policygenius protect my data? Policygenius collects and uses personally identifiable information (PII) to optimize its services to you, offer tailored products and service, and help underwrite and provide accurate insurance quotes and policies.
This information is stored using encryption mechanisms, including HTTPS and SSL protocols, and TLS encryption standard or better.
What other types of insurance does Policygenius sell? A selection of other insurance types is available for comparison on Policygenius, including:
Our experts analyze life insurance companies to help you to find the strongest possible policy and premium for your family’s needs. We assess their financial strength, customer satisfaction, policy features and riders. We then give each insurer a score between one and five stars that reflects their offering and reputation in the industry.
Rhys Subitch is a personal finance editor at Bankrate and former loans editor at Finder, specializing in consumer and business lending. Rhys has nearly a decade of experience researching, editing, and writing for startups, Fortune 500 companies, universities and websites. They hold a BA in sociology and a certificate of editing from the University of Washington.
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