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Policygenius life insurance review 2021

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Calculate the coverage you need, compare 13 companies and buy a policy — all on one site.

finder.com's rating: 3.5 / 5

★★★★★

  • Get a quote if… you want to compare quotes from multiple providers.
  • Choose a different provider if… you’re looking for tailored results one might receive from a single, dedicated insurer.

18 to 85

Issue Age

$50,000 to $10,000,000

Coverage

Depends on provider and policy

Medical Exam Required

Details

Policies Term, Whole, Universal, Quality of Life, Variable
Coverage maximum $10,000,000
Term lengths 10, 15, 20, 25, 30 years
Medical exam required Depends on provider and policy
Available states All 50 states
Issue age 18 - 85 years old

Pros

  • Allows you to compare several policies you could be eligible for using a two-minute quote form
  • Offers a calculator that lets you get an idea of just how much life insurance you need
  • Guides you through the application process with its customer support team
  • No need to give up identifying information to get a quote

Cons

  • Online quotes aren’t always available for all providers
  • The methodology behind which companies are suggested isn’t clearly provided
  • It’s not clear which types of life insurance the quotes are for outside of the basic term and whole life
Riders Accelerated death benefit rider
Accidental death benefit rider
Child rider
Critical illness benefit rider
Guaranteed insurability rider
Long-term-care rider
Return-of-premium rider
Spouse rider
Term insurance rider
Waiver-of-premium rider

Expert review

Rhys Subitch

Review by


Rhys Subitch is a writer and editor at Finder who tackles topics across the site. With half a decade of experience researching, editing and writing for a Fortune 500 company, university and several independent publications, Rhys brings readers the most up-to-date and curated info on all things finance.

Expert review

When you’re looking to compare and apply for life insurance all at once, Policygenius may be a good solution. The number of insurance providers it works with are limited though, and you may not find the tailored results you’re looking for.

What life insurance policies does Policygenius offer?

Policygenius doesn’t provide coverage directly. The insurance providers it partners with each offer different levels and types of insurance.

Though not directly listed as available, Policygenius gives a general comparison of the following types of life insurance:

  • Term life. Most policies cover you from 10, 20 or 30 years. Once the coverage ends, your premiums can increase depending on the provider. Outliving the policy means no you won’t see a payout.
  • Return of premium term life. If you outlive your policy, you’ll be paid back the premiums that you’ve paid over the years.
  • Whole life. Premiums are typically higher than a term policy, but coverage is permanent as long as you stay on top of your payments. Policies can also gain cash value.
  • 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 brings you the ability to change your premiums from universal to the subaccounts of variable life.
  • Accelerated life. This type of policy can be purchased in just a few weeks, without having to take a medical exam.

What riders can I add to my life insurance?

You can add riders to your policy, at a cost, and some insurers offer more than others. Here are a few riders you may want to look for:

  • Accelerated death benefit rider. A terminal illness diagnosis that gives you less than 12 months to live, slightly more in some states, could get you access to some or all of your benefit.
  • Accidental death benefit rider. An additional amount is paid if your death is caused by an accident.
  • Child rider. Generally small amounts of coverage for your children — adopted, step or biological — can be bought using this rider.
  • Critical illness benefit rider. Pays out a lump sum benefit if you suffer a critical illness, such as a stroke.
  • Guaranteed insurability rider. Allows you to purchase additional insurance at specified dates without having to take a medical exam.
  • Long-term-care rider. Allows you to pull money from your death benefit to cover care expenses if you’re diagnosed as chronically ill.
  • Return-of-premium rider. Reimburses you for any premiums paid if you outlive the term of your policy.
  • Spouse rider. Pays out a death benefit if your spouse dies.
  • Term insurance rider. Adds additional insurance to your permanent policy for a specified amount of time.
  • Waiver-of-premium rider. If you become disabled or have to move to an assisted-living facility, you could be relieved of your premium payment.

What factors affect my rate with Policygenius?

Each insurance provider has its own standards and criteria used to underwrite policies. For example, some insurers may consider a DUI or DWI more serious than others.

A few factors are constant across the board. While they may be weighted differently, here are some of the qualities that are assessed when determining your risk profile:

  • Recent bouts with a serious illness. You may want to wait to apply if you’ve recently gotten past a serious illness or medical condition. Providers have different standards of what recent is — one could say a few months while another says five years — so make sure you consult with the insurer or an agent.
  • Family health history. There’s not much you can do about your family’s health. One option is to search for a provider that doesn’t consider it as heavily. Still, your other health and lifestyle information may still be scrutinized.
  • Your health criteria. Weight, cholesterol, psychiatric diagnoses and serious medical conditions can also affect your premiums. Your risk profile may not be rated as high if you can manage conditions with medication, therapy or other treatment.
  • Tobacco or alcohol use. Frequency and when you last used often impacts how heavily these are weighted. It should be noted that even occasional tobacco use can result in much higher premiums.
  • Driving or criminal convictions. The frequency of the convictions and the time since the last one are considered when evaluating your risk under these criteria.

How does Policygenius compare?

Name Product Issue age Minimum Coverage Maximum Coverage Term Lengths Medical Exam Required
Sproutt
18 - 100 years old
$50,000
$10,000,000
5, 10, 15, 20, 25 and 30 years
No
This life insurance broker combines technology and the human touch to match you with a policy tailored to your needs.
Ladder
20 - 60 years old
$100,000
$8,000,000
10, 15, 20, 25 or 30 years
Depends on policy
Term life insurance with no policy fees and a simple application process that can get you approved for coverage instantly.
Fabric
21 - 60 years old
$100,000
$5,000,000
10, 15, or 20 years
Depends on policy
Get affordable term life insurance with accelerated underwriting or no-exam coverage up to $1,000,000. Available in all states except CA, NY and MT.
Policygenius
18 - 85 years old
$50,000
$10,000,000
10, 15, 20, 25, 30 years
Depends on provider and policy
Compare affordable quotes from 12+ A-rated life insurance companies side-by-side.
Bestow
21 - 54 years old
$50,000
$1,000,000
10 or 20 years
No
Affordable 10- and 20-year term life insurance policies with instant quotes and no medical exams.
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Compare up to 4 providers

Policygenius reviews and complaints

On TrustPilot, customers rave about Policygenius’ customer service and the simple, straightforward process. Over at the Better Business Bureau, Policygenius receives high ratings and is accredited by the organization, and Policygenius promptly addresses all reviews with low star ratings.

BBB accredited Yes
BBB rating A-
out of 115 customer reviews
Trustpilot score 4.8 out of 1781 customer reviews
Customer reviews verified as of 06 November 2020
Get quotes from Policygenius

How do I get a quote for Policygenius life insurance?

  1. Go to Policygenius’ homepage and click the Life button.
  2. From there you’ll provide some personal information, including your gender, birthdate, ZIP code, citizenship and whether you are married. Then click Next.
  3. You’ll then be asked some general health questions. After answering, click Get My Quotes. If you answered yes to any of the treatment- and medication-related questions, click Next, and you’ll be taken to another screen where you can provide further details.
  4. After completing all of the health-related questions, you’ll be asked to provide your email address so you can save your progress. You will then be able to view your quote, which you can further customize.
  5. If you’re happy with the policy options, click Next: Pick An Insurer. From there you will be presented with options from multiple providers. If you need help making a selection, there is live chat help available from the page.
  6. To continue with a provider and start the application process, click continue next to your desired provider and policy. Policygenius will then guide you through the application process.
  7. Once you’ve completed the application and are approved, register your online account with the provider to take full advantage of your policy. There you can manage your policy and possibly set up auto-pay to ensure payments are made on time.

Which companies can I get quotes from?

Policygenius works with some of the top brands, including:

  • AIG
  • Banner
  • Brighthouse
  • Guardian Life
  • John Hancock
  • Lincoln Financial
  • Mass Mutual
  • Mutual of Omaha
  • Pacific Life
  • Principal
  • Protective
  • Prudential
  • SBLI
  • Transamerica

Frequently asked questions

Life insurance ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

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.

Learn more about our methodology here.

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