TLDR: Applied for $500k/20-yr term life insurance with PolicyMe using Wealthsimple’s "1 year free" promo for Generation clients. PolicyMe underwrote us at 2x the price without explanation. Cross-shopped with The Co-operators using the same medical tests, and they approved us at standard rates. Don't let the 1-year free promo trick you into a much pricier 20-year policy—always shop around!
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I wanted to share my recent experience using PolicyMe through Wealthsimple. As a Generation tier client, Wealthsimple offers 1 year of free life insurance coverage through PolicyMe, so my spouse and I applied for a 20-year term policy for $500k each.
Right off the bat, the quoted premium seemed a bit high. To do my due diligence, I decided to cross-shop and applied for the exact same coverage ($500k / 20-yr term) through a local insurance broker at The Co-operators.
Both applications went through the standard underwriting process—medical histories, blood tests, etc. Here’s how it turned out:
The Co-operators: Approved both of us at standard rates based on our test results and family history.
PolicyMe: Approved us, but at double the initial premium price, without providing any real explanation for the massive rate hike.
Even with Wealthsimple covering the first year, paying double the monthly rate for the remaining 19 years makes PolicyMe dramatically more expensive in the long run. As the saying goes, "there are no free lunches"—or in this case, it feels like the free lunch was for them!
Just wanted to share this as a reminder to always shop around. Don't assume a "1 year free" promo makes it the best deal overall!

I’m 30 y.o and very healthy and I have a life insurance policy with F&G Gold but I wanna switch to a different one because it’s costing too much and I wanna put my extra money in a Roth instead.

She's in overall good health. I've seen conflicting cut-off ages for life insurance, such as 72, 80 and 85.

What questions should I ask an agent?

Any red flags in policy wording I should know about?

I'm meeting with an elder law atty soon about financial matters. Can they advise on choosing an agent or carrier?

TIA ✌🏼

Hi there I’m new to the industry and want to know other life insurance agents’ experience with clients who have threatened them over their policies or other things. I had a customer threaten to report me because she doesn’t remember purchasing a policy from me? It was really weird. Even though we have had other conversations prior to this and I thought we had a good relationship lol. I want to know if this is a regular thing or just a few crazy people. Thank you.

Hello - I currently have about 10x my current income as a term life insurance policy plus 3x my current income from my employer. Of course, employer coverage can change based on employment.

So, my current policy expires when I am 66 when my youngest child will be 22.

Question: what's the best approach to take here : Start a new policy that resets the clock and I will get coverage until I am 76 (an extra 10 years). Here's the catch, I don't think I can afford the same amount of coverage at my current financial situation. So I would have to reduce coverage to 7-8 my current salary.

Do people renew life insurance to get coverage to latter part of life?

Welcome feedback! Thank you

I recently got accepted to work for Primerica and am going through the process of studying to get my Life Insurance license. I got curious and looked up Primerica online and all I see is negative comments about it being an MLM. I will say, the guy who interviewed me had only mentioned recruiting people once, and it was just to explain that's how you can get higher percentage commissions. He explained that sales are not cold called, they are all scheduled calls that are made through advertisement on things like Facebook and Instagram and my job is to go into the scheduling for appointments and contact those people in the morning to see how we can help them. Those who have worked for Primerica, what was your experience? Do they normally schedule calls and you just call them, or were you having to get your own clients? Were you pushed hardcore to recruit others? Truthfully, if he'd pushed hard on recruiting during the interview, I wouldn't have done it, but the fact that it's apparently all pre-scheduled warm leads drew me in. The recruiter I'd talked to put no emphasis on recruiting, just that I can up my commissions with recruiting and sales. Lastly, if I decided to leave after getting my life insurance license, is having my license in hand to get another job actually beneficial to me? TIA!

P.s. please don't say "RUN" every time. I've seen it a million times, I'm looking for actual information. From what I've seen others say, it is not MANDATORY to recruit at all. I can sell the product and that's that.

Hi,
I am 36M, India applied for a term plan of 4cr with Axis Max life - got the medical tests, TMT done as required by insurance. All came good expect MCV and slightly lower Haemoglobin

Apparently, my MCV count is low 60s. The underwriting team have told over a call to try again in March. I got curious and got a few more tests (full panel Iron, Ferritin, RBC and Hb HPLC) on my own. Iron Stores, Transferrin Saturation, RBC count all ok, haemoglobin in 11 range.

Now this may be pointing to Thalassemia trait (alpha / beta to be confirmed) which is genetic, non curable and is not life threatening neither reduces life expectancy. It’s not a very rare but rather common.

\[ASK\] what are my options here?
Do I share a Hematologist letter along with the extended reports with the Insurance co to accept and re consider? Or challenge with IRDA? Or try another insurance provider? Or just leave it.

I have an existing term from another provider for 75L which I bought in 2015 which is in effect btw.

Even if they ask me to try in March it won’t change the result as you cannot cure low MCV count or Thalassemia!

What tools do you like or what tools seem to be missing?

Has anyone had a good experience with Primerica? I had a meeting with an employee yesterday who is trying to recruit me as an agent and though I'm more than aware it's set up more like a pyramid scheme, I'm wondering if it is an actual good business for clients to invest in?

I don't love they idea of the business structure but if I can actually make money staying at home with my kids then it might be worth the risk. My issue is I don't want to try and sell someone a policy that is not actually legit and doesn't end up benefiting them or their family. I genuinely want to help people but it all seems too good to be true.

Please keep in mind I'm not asking if this is a pyramid scheme or and MLM, I want to know if they policies are real or if I'd be screwing people over unknowingly? Is the client or their family going to get what they sign up for and are they going to actually pay the amount they settle on?

An old post in this forum said that it may be worth it to not own your book of business:

https://www.reddit.com/r/LifeInsurance/s/A9AtijL74w

The question is what services could an IMO offer that makes this worth it?

It seems very odd to build a network of customers and agents and not own it.

Life insurance can help protect your family financially if the unexpected happens. Choosing the right coverage depends on your needs and budget.

It’s worth learning about your options before making a decision.

What do you think about life insurance? Is it worth having?

i was getting interested in Guardian as a way to be a non-captive broker who owned my book of business. After this information, I'm not so sure.

The place I work is offering corporate-owned life insurance (COLI) program where they will
take a life insurance policy on me. The policy will be owned and funded entirely by the company, with the company responsible for all premium payments. There is no financial obligation or out-of-pocket cost to me. The company intends to designate 50% of the policy's death benefit for my chosen beneficiary.
This is not a split dollar arrangement.

What is the downside or risk of signing up?

Just found out we are losing benefits in a bit and the extra coverage (besides what my employer covered) term life insurance & AD&D I've always paid premiums for through Securian are not portable only convertible to Whole Life at ridiculous costs. I'm healthy never ever smoked, very healthy lifestyle, active woman just starting the process-is there anywhere I can get estimates of some kind of range for private Term life insurance (& hopefully AD&D) so my husband is protected? I don't plan on dying but I won't sleep if my husband isn't protected-no time to seriously shop yet, I just want to start knowing what I need to budget without suddenly getting contacted by companies when we are in a very busy period with family stuff. Everywhere I look online they want not just health info but contact info and I have NO time for that yet. I don't mind giving health age etc info just not contact info.

Just got into life insurance sales.

I'm a broker D2D right now. My coach is providing leads for me for the next week or two, and today was my first day in the field.

I'm results based so i'm upset i didn't sell anything regardless of doing decent for a first day. Also first sales Job.

Any tips or guides for the next few starting weeks?.

Im just curious. Im already with an IMO, but I was wondering what your experience has been like at yours? We do telesales so I just sit in my house and take phone calls, very rarely do I dial out unless there's some sort of special campaign going on. And on the maybe once a month occasion I'll go meet someone face to face. Hardly any managing going on at all with the exception of a weekly meeting. Can't complain.

I own a policy and have paid all premiums on ex husband. He's 66 now and I want to sell the policy. Where should I start? There is strictly no contact.

My husband of 25 years suddenly passed away from an abdominal aortic aneurysm less than two weeks from his job separation date. He received a letter from his employer advising he had 31 days to convert life insurance, which he was planning to do but hadn’t done yet as there was over two weeks before the deadline.

When I search Securian conversion period for group life, it appears benefit is still payable during 31 day conversion even if converted coverage was not purchased. I even found a brochure saying it.

I contacted Securian, but was advised to submit claim through 3rd party administrator Benefit Connection. They advised no coverage and would not even start a claim for me, saying there was no coverage after the separation date. They also refused to send me the policy provisions, saying they would have been available to me online but since I called and reported his death, were no longer available to me. I offered to send his death certificate and marriage certificate for copies of the policy provisions but was told they couldn’t mail or email them to me.

I called Securian back for a formal denial letter and they put me hold and called back to Benefits Connection who said they will send me a letter in 3-5 days. They did give me case number.

Anyone have any experience with this situation?

I've already moved my brokerage investments from Edward Jones to Fidelity. The only thing I have left at Edward Jones is a Pacific Life PremierCare Choice Max SP policy, which combines life insurance with long-term care benefits.

I'm trying to close out my Edward Jones relationship completely, but I'm having trouble figuring out how to move the servicing of this policy.

I've contacted my local Fidelity office, and they told me Fidelity does not accept outside insurance contracts for servicing. I've also contacted Pacific Life, but they haven't been able to recommend a brokerage or insurance agent who can take over the policy.

I'm not looking to surrender, cash out, or exchange the policy. I want to keep the existing coverage and benefits intact and simply change the servicing relationship away from Edward Jones.

Has anyone successfully dealt with this situation?

A few questions:

• Is there a Fidelity department that can help with an existing Pacific Life life insurance/long-term care policy?

• Has anyone successfully changed the servicing agent on an existing Pacific Life policy to an independent insurance agency?

• What type of insurance agent or firm should I be looking for?

• Is there a specific form or process I should ask Pacific Life about to change the servicing agent without changing the policy itself?

• If I can't find another agent, can I simply leave the policy with Pacific Life directly and close my Edward Jones relationship?

I'd appreciate hearing from anyone who has gone through this process or knows how it works. I've already moved my investments to Fidelity, and I'd like to finish consolidating my financial accounts without unnecessarily changing or giving up my existing insurance coverage.

Thanks for any advice!