Shopping for the right life insurance company can be a daunting task.
Policygenius helps with just that… and more!
Policygenius can help you find the right type of life insurance (or several other types of insurance, in fact), from the right carrier, all in one place.
For many people, it is hard to tell which companies are trustworthy, and there are some online tools you can use to simplify the process.
This is where Policygenius excels.
With simplified policies and a streamlined application processes, you can easily purchase life insurance to suit your needs.
Our Policygenius Review
Policygenius is agency who allows you to compare a variety of quotes without having to visit each insurance company’s website or call their agents one-by-one.
Like a local broker, they shop your quotes from several major insurers to find who’s the best match, at the best rates.
This is especially great for someone who is completely unfamiliar with the overwhelming insurance world.
It’s as simple as entering in some basic information, your policy needs, and clicking submit!
Policygenius has a pretty basic mission statement:
To get people the insurance coverage they need and make them feel good about it.
Of course, this is an not an easy mission at all, since nobody really likes to buy insurance.
But they feel if they can make it more seamless, quicker, and even help you save on your insurance premiums, you’ll feel good about protecting your family. Period.
Is Policygenius Legit?
We get this question a lot, because most people in the hunt for insurance (especially life insurance, where they expect the policy to be in force for a very long time) are expecting to deal with the big industry giants who have been around for decades, or even centuries.
Household names like MetLife, Geico, and State Farm are who most might expect to place their business with, but the truth is, Policygenius, as young as they are, work with many of these major companies on your behalf.
A Brief History
Jennifer Fitzgerald and Francois de Lame, the founders of Policygenius, are a the brain children who started Policygenius.
With a team of engineers, programmers, finance and marketing gurus, and a nationwide business scope, they’ve become a giant themselves quite quickly.
Policygenius got its first big break back in 2014, when they first got $750,000 in seed money to spring board themselves into the market.
Since, they’ve gotten three additional rounds of funding, at $5,300,000, $15,000,000, and $30,000,000, respectively, in the following 3 years.
Definitely not your mom-and-pop broker shop!
How Does Policygenius Work, Exactly?
Technically speaking, Policygenius is an insurance aggregator, of sorts, where you can answer one questionnaire for the insurance product you need, and they do the work from there.
You’ve got a lot of options, too, like:
- Life Insurance
- Disability Insurance
- Renters Insurance
- Car Insurance
- Health Insurance (plus Vision)
- Long Term Care Insurance
- Homeowner’s Insurance
- Pet Insurance
They even have a few “exotic” insurance options, like:
- Travel Insurance
- Jewelry Insurance
- Identity Theft Insurance
These are types of policies your average carrier may not have.
Here are some of the reasons to use Policygenius when searching for an insurer who meets your needs:
It’s Simple to Use
Purchasing insurance can be overwhelming.
Fortunately, with their easy-to-use interface and simplified insurance business terminology, Policygenius makes the insurance buying process a breeze.
If there’s any piece of information you don’t understand, simply hover your mouse over it and you’ll get a clear explanation of the term or rating.
Moreover, Policygenius provides a comprehensive FAQ and guides for various types of insurance.
Plenty of Educational Content
Policygenius is committed to educating younger consumers about the value of having various types of insurance.
One way Policygenius achieves this is through their Insurance Checkup, a tool which helps you determine whether you are under insured.
The tool asks questions about your income, lifestyle, current insurance policies, net worth, and risk tolerance. Based on the answers you provide, it will advise you on the ideal insurance policies for you.
Policygenius is also exceptionally straightforward about the strengths and drawbacks of each insurance company, rating them on various factors, including the application process and customer service.
Something you should know, as well, as you always have the final say in your coverage; ask your Policygenius rep about the company they find for you, and they’re happy to help you discover everything you need about them.
If you don’t care for that one, they’ll move on down the list for you.
What Makes Policygenius Unique, Though?
What sets Policygenius apart from other insurance agencies is how they work with you to filter out all the noise and find the right coverage in a very simple, streamlined, simplified process.
One aspect which is difficult to deal with when getting quotes from your standard insurance agent is can be limited to a handful of companies (or even just one), knowledgeable in just one line of insurance, or unable to continue to assist you if you ever move.
None of these are a problem for Policygenius. Expect:
- An insurance partner for life – Policygenius will always be there to help you, for any product, no matter where you live in the U.S.
- A fair, un-biased experience – Policygenius wants you to get covered, period; you always have the final say in what coverage you buy.
- A knowledgeable resource – Policygenius is education-forward, through and through; they’ll help you not just buy, but understand exactly what you’re buying.
Another remarkable attribute of Policygenius is its user interface. It has been designed to deliver an exceptional user experience.
Not only is it attractive, but it’s also innovative and engaging. It’s not just an email you’re getting with a bunch of insurance quotes (though you do get instant quotes on their site).
Finally, when you’ve had the great experience and been educated as much as you require, Policygenius provides an application process where speaking with an agent is potentially optional.
You can complete the application process entirely online without any assistance from a sales agent, if you don’t need it.
Policygenius’ Application Process
The application process for Policygenius is quite comprehensive. But, that’s understandable when you are applying for something as critical as life insurance where lots of factors are at play.
Remember: answering more questions is a good thing, since it helps you narrow down the perfect carrier, and can actually help you reduce your costs!
With life insurance from Policygenius, for example, you have to answer a wide range of medical questions.
Nonetheless, the application process should take you just 5-10 minutes to complete.
Here’s an outline of the Policygenius application process:
To begin with, you will need to answer some basic questions about your gender, age, social security number, and place of residence.
These are common questions you’ll have with anyone, and are a starting point for any insurance plan.
This information will also be used later in the process to find your driver’s record, medical information bureau record (for health history), or other database checks which might be required to facilitate the application.
Remember, if you have any questions, you can chat with a customer care agent throughout the entire process.
Nonetheless, the application is so simple you likely won’t need to seek additional assistance.
Family Health History
In the second step, you’ll need to answer several questions regarding your family’s health.
You may need to disclose which family members have had a medical problem and how old they were when they were diagnosed. The insurer wants to figure out what genetic health factors may affect you.
It also is limited to your immediate family, so don’t worry about cousins, grandparents, or your long long uncle who moved to Bermuda.
Remember, this kind of information is limited to items like life, health, and long term care. It won’t be necessary for auto, homeowner’s, or other types.
In the third section, you’ll need to answer questions regarding your health. You may have to clarify data on various medical conditions you have.
In the case you are a smoker, you’ll need to answer some follow-up questions about your smoking habits. What type of tobacco do you use, how often, and other closely related items.
Select Your Insurer
Once you’ve responded to all the questions, you will be directed to a page showing the average insurance plan according to your age and health conditions. You will have some options from which to choose.
You can then pick the insurer who best suits your needs.
Again, the entirety of this process should be just 5-10 minutes of your time.
Customer Service & Hours
You’re going to have an easy time finding plenty of information on the Policygenius website, which is, of course, a 24/7 availability.
They also have a Live Chat feature, email, and pretty regular business hours, including Sunday:
- Mon – Thrs from 9 a.m. to 11 p.m. EST
- Fri from 9 a.m. to 8 p.m. EST
- Saturday from 9 a.m. to 9 p.m. EST
- Sunday from 10 a.m. to 9 p.m. EST
They are rated an “A” by the Better Business Bureau, though there are just a handful of reviews.
What We Really Like About Policygenius
Policygenius is designed to make the process of purchasing life insurance easy. That is achieved through its wide range of features.
To begin with, the Policygenius provides a coverage calculator, which takes you through every step of your options.
This includes determining if life insurance is appropriate for you in the first place.
When you’ve confirmed you need insurance, Policygenius will help you compare different quotes and see why they’re different.
If you’re having a hard time shopping, the website offers a comprehensive library of valuable, easy-to-follow guides to get you going.
You’ll learn the various insurance “lingo” you’ll need to understand and know what to look for in an insurer.
Once you’ve submitted your application, Policygenius has a team of certified advisors who will review your paperwork.
They will handle all of the vital details for you, including:
- Scheduling a medical examination, if necessary
- Retrieving any necessary medical records or evaluations
- Getting the finalized costs from the insurer if you add riders or modify your coverage details
- Updating you on the application process and responding to all your queries
You should expect the process to be complete in a few weeks after you submit the application, or sooner, depending on the insurance company.
Policygenius is committed to keeping you informed along the way.
You will get advice tailored to your specific needs since Policygenius is not affiliated with a specific insurance company.
Moreover, Policygenius can help you shop around for a more affordable deal if your preferred insurer cannot approve you at your intended rate.
You can easily stay in touch throughout the process via email, phone, or text.
What We Don’t Like About Policygenius
Our one nitpick on Policygenius is simply the number of carriers they have in their quiver at this time. While it’s growing, there are some big hitters missing from their repertoire.
They may be offering some of the most competitive and popular insurance companies on the market, but there’s still room to do better for some people.
Smaller insurance companies tend to offer some of the most affordable rates for specific classes of consumers.
The Policygenius system doesn’t always provide the most accurate quotes for applicants with health conditions, either. Of course, this is getting really nit picky because it’s extremely difficult for any one entity to do this without a true expert on the line and reviewing underwriting guidelines.
Both of these could result in you getting a final quote which is much higher than what you expected since your conditions were not taken into account.
While Policygenius is a great choice for many (dare we say, most), there are other places you can go to get your insurance coverage where you might get a better product or price, depending on your needs.
Let’s say, for example, you needed coverage immediately, or at least in just a few days. If you’re not willing to wait several weeks for a traditionally underwritten product, we might suggest Haven Life or Ladder for super fast life insurance.
It really does depend on what type of insurance you need, too. While we can mainly speak to the life insurance side of things, since that is our core business here at BestLifeRates, it’s likely the same for other lines.
Is Policygenius Right For You?
If you are shopping for life insurance and don’t like the idea of visiting each insurance company or speaking with their agents, Policygenius can be of great help to you.
Shopping for life insurance through Policygenius is the easiest, smoothest, and most time-saving process you can find online.
The tool allows you to get dozens of quotes from several companies for all your insurance coverage needs, all in one place.
It also gives you the opportunity to self-complete, with access to certified advisors who can answer any questions you have.
In the end, Policygenius can help you get your ideal insurance company without much stress.
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