Policygenius (2024)

FAQs

Is Policygenius reliable? ›

Policygenius customer reviews typically praise the company's quick application process, communication and cost. It also has an A- Better Business Bureau (BBB) rating with a 4.69/5 customer rating based on 155 reviews.

Policygenius does not engage in any sharing of personal information that you can limit. Questions? Call 1-855-695-2255 or email privacy@policygenius.com.

Because policyholders can outlive their policies, there's a chance that the death benefit will never be paid out. In fact, a study done by Penn State University indicates that 99 percent of all term policies never pay out a death benefit.

When you apply, life insurance companies will gather detailed information about you to determine the best type of policy for your needs. This information also helps them make decisions about rates and coverage options.

Suze Orman recommends that generally most people should get a 20 year term life insurance policy at 20 times your annual income. What does that mean? That means if you're 30 years old and you make $50,000 a year you should get a million dollar 20 year term life insurance policy.

In 2023, Policygenius was acquired by Zinnia, an insurance technology and digital services company.

How does Policygenius make money? We're an independent insurance broker, so we get paid a commission by insurance companies for each sale. Insurance commissions are already built into the price of an insurance policy, so you're not paying any extra for working with us to buy a policy.

Policygenius itself is free to use, as it makes its money through commissions from the insurance companies for each sale. Those commissions are already included in the price of the insurance policy, so you're not paying any extra for using Policygenius.

Another reason companies are able keep term life premiums lower is that premiums are almost never refunded. This is normally the case even if you cancel your policy. So in most cases you shouldn't expect any money back after your term expires.

What is the cash value of a $10,000 life insurance policy? ›

The $10,000 refers to the face value of the policy, otherwise known as the death benefit, and does not represent the cash value of life insurance policy. A $10,000 term life insurance policy has no cash value.

About 100 million Americans are either without life insurance or inadequately insured, acknowledging their need for additional coverage, according to data from LIMRA. A record high of 30% of consumers have indicated their intention to buy life insurance in the upcoming year, also according to LIMRA data.

LYING ABOUT DRUG USE OR TOBACCO & ALCOHOL USE

An applicant for life insurance must disclose lifestyle habits, good and bad, including use of alcohol or use of tobacco. A life insurance applicant must also disclose illicit drug use.

Insurance agents succeed when they prioritize their customers' needs over their own profits. The most commonly cited reason insurance agents fail is that they fail to listen to their customers and take the time to find the best product to suit their needs.

They can include engaging in risky hobbies and behaviors like skydiving; having a history of DUIs or speeding tickets; having a dangerous job like roofing; having a criminal record or a less than ideal financial history; being a smoker; and failing a drug test.

Policygenius Reviews FAQs

Policygenius has an overall rating of 3.4 out of 5, based on over 218 reviews left anonymously by employees. 57% of employees would recommend working at Policygenius to a friend and 34% have a positive outlook for the business. This rating has decreased by 1% over the last 12 months.

Policygenius is an independent insurance broker and marketplace. This means it isn't locked into offering insurance from only one insurance company and its aggregation tool lists several different policies from a range of providers.