Policygenius Life Insurance Review

No insurance products are directly sold or provided by Policygenius because the company is an insurance broker. It is possible to get a sense of what a typical fee could be based on the insurers they work with. Let’s take a look at Policygenius Life Insurance Reviews to learn more.

Pros and Cons of Policygenius Life Insurance

Policygenius Life Insurance Review - Policygenius Life Insurance Logo

Pros

  • It is possible to compare a wide range of insurance policies in only two minutes by filling out a simple form.
  • You may use a calculator to figure out how much life insurance coverage you need.
  • The application process is made easier for you by customer support representatives.
  • You do not need to provide any personal information in order to receive a quote.

Cons

  • Online quotes aren’t available from every service provider.
  • There is no explanation of how the suggested companies were selected.
  • Besides term and whole life insurance, it’s not apparent which other types of insurance are covered by the quotes.

What affects my rate with Policygenius life insurance?

Insurance underwriting standards and criteria are influenced by a variety of factors, including health difficulties, DUIs, and hobbies. Your premium will be calculated by an insurance broker, such as Policygenius, based on your “risk profile” and the insurer to which you’ve been assigned.

  • Personal medical history. Your insurance premiums will go up if you have a serious medical condition, such as diabetes, heart disease, or cancer.
  • The family has a history of health issues. Nothing you can do can enhance the health of your family members. Perhaps you can find a company that doesn’t put as much emphasis on it. Investigators may still look at your other medical and lifestyle information.
  • The only thing that counts is that you’re happy and healthy in general. If you’re overweight or have high cholesterol, your insurance premiums might be affected by these medical conditions. A decreased risk profile may be possible if you can address your difficulties with medication, therapy, or another kind of treatment.
  • Tobacco or alcohol use is prohibited. As a result, the frequency with which it is used and when it was last used are taken into account. Even if you just smoke a few times a year, your insurance prices might skyrocket.
  • Driving and criminal offense convictions. The number of convictions you’ve got and the length of time since your last one are taken into account when determining your risk.

How to get a quote from Policygenius life insurance

The following are the steps to follow:

  1. Find Policygenius and choose “Life” as your choice.
  2. It will next ask for personal information such as gender, birth date and location (zip code or country of residence), and the fact if you’re married. Afterwards, just click Next.
  3. After that, you’ll be asked about your general well-being. Once you’ve answered the questions, click on Get My Quotes. If you answered yes to any of the treatment or medication-related questions, the following page will ask you for further information. That screen will appear if you click Next.
  4. When you’ve completed all of the health-related questions and provided your email address, your progress will be stored. Afterwards, you’ll be able to review and edit your quotation.
  5. To proceed, simply click the Next button. If you’re happy with the coverage options, choose an insurance company. Once you reach that stage, you have a wide range of options. If you need help, there is a live chat option on the website.
  6. Choosing a provider and a policy from the drop-down menu will begin the application process. Afterwards, Policygenius will assist you in filling out the paperwork.
  7. Once you’ve submitted your application and received approval, it’s time to set up an online account with the provider so you can make the most of your insurance. You may check your insurance online to ensure that payments are made on schedule.

Which life insurance companies does Policygenius work with?

In the United States, there are numerous life insurance providers that collaborate with Policygenius:

  • AIG
  • Legal & General (formerly Banner Life)
  • Brighthouse
  • Guardian Life
  • John Hancock
  • Lincoln Financial
  • Mass Mutual
  • Mutual of Omaha
  • Pacific Life
  • Principal
  • Protective
  • Prudential
  • SBLI
  • Transamerica

What types of life insurance coverage does Policygenius offer?

There are no insurance products that Policygenius sells or offers for sale. The insurers with whom it collaborates provide a wide range of coverage choices, including:

  • Term life. Between 10 and thirty years is the typical length of time for which insurance policies are available. Depending on the insurance company, your premiums may rise after your policy ends. If you live longer than the policy’s term, you will not get a payout.
  • Premium term life insurance is making a comeback. You’ll get your premiums back if you live past the expiration date of your policy.
  • For the rest of my days. Permanent coverage, which is more expensive than a short-term policy, is worth it if you keep up with your payments. Convertible policies may be worth more than non-convertible ones.
  • Existence in all places and times. At any moment throughout the policy’s term, you are able to make modifications to your premium amount. If you cut back on spending and take out loans from your cash value, you can lower your premiums.
  • The length of time that something exists is arbitrary. With this long-term approach, subaccount investments and dividends are feasible.
  • The length of time that the universe will last is variable. With universal life insurance and variable life sub-accounts, you may alter your premiums whenever necessary.
  • Life expectancy has been extended by a factor of two. These policies don’t need a medical exam and may be obtained within weeks.

What riders can I add to my Policygenius life insurance policy?

There is a fee associated with the addition of rider options to your policy. Insurers may charge extra for these alternatives depending on which company they are with. The following riders may be of interest:

  • Accelerated death benefits riders. If you’ve been diagnosed with a terminal illness and given less than 12 months to live (or even longer in some countries), you may be eligible for part or all of your benefits.
  • Accidental death benefit rider. In the event that your death was caused by an accident, you will get further compensation.
  • Riders who are under the age of 18. Adopted stepchildren or biological children can be covered by this rider, which lets you buy a limited amount of coverage for them.
  • Life-threatening disease compensates the rider. When a serious disease occurs, such as a stroke, it pays a lump payment.
  • Rider that ensures you’ll be covered by insurance. Supplemental insurance can be purchased without a medical exam in some instances.
  • Long-term-care rider. If you have been diagnosed as chronically ill, your death benefit may be used to pay for medical expenses.
  • The premium rider is coming back. Any premiums paid will be reimbursed if you live past the policy’s end date.
  • The rider’s spouse. Death benefits are available in the event that your spouse passes away.
  • Rider for long-term care insurance. Extend the coverage of your permanent policy for a predetermined length of time
  • Rider waiving the right to a higher price. You may not have to pay your premium if you become incapacitated or need to relocate into an assisted-living facility.

Policygenius life insurance reviews and complaints

Business practices and customer service have been given an A+ rating by the BBB. Customers give the broker a 4.68 out of 5 rating, which is rather high for an insurance-related service. In the past three years, just seven complaints have been made with the BBB, showing a high level of consumer satisfaction.

TrustPilot consumers have rated Policygenius’s customer service at 4.7 out of 5 stars based on almost 2,000 reviews.

Checkout our review of Pacific Life Insurance Review for another insurance review.