Policygenius (2024)

FAQs

Is Policygenius reliable? ›

Over 30 million people have shopped for insurance with Policygenius. And the company has helped consumers purchase over $90 billion in coverage so far. Policygenius has an average 4.8 out of a 5-star rating scale through Trustpilot based on over 2,000 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.

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.

A common rule of thumb is at least 6% of your gross income plus 1% for each dependent. A stay-at-home parent should get enough life insurance to cover the costs incurred by the family if anything should happen to them.

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.

For example, applicants might lie about their age, income, weight, medical conditions, family medical history or occupation. It's also relatively common for applicants to lie about their alcohol or drug use.

Why do most life insurance agents quit? ›

Failure to work hard is one of the top reasons people in this industry want to call it quits. While it's true that this job isn't easy, it's also true that it can be very rewarding when you allow it to be. As an insurance agent, you have daily opportunities to change your clients' lives for the better.

Slower process than some competitors.

For a digital brand, Policygenius moves at an analog pace. It can take days to get the full scope of your quotes, and it averages five to six weeks to get approval.

It means that Zander is the only company Dave and the entire Ramsey team recommend for term life insurance. Why? Because Zander has faithfully served our fans for two decades and will do whatever it takes to help you win. They offer the coverage you need and nothing you don't.

Do not subtract other amounts that may be withheld or automatically deducted, like health insurance or retirement contributions. Those will become part of your budget. The 50-30-20 rule recommends putting 50% of your money toward needs, 30% toward wants, and 20% toward savings.

If you multiply an annual salary of $50,000 by 10, for instance, you'd opt for $500,000 in coverage. Some recommend adding an additional $100,000 in coverage per child above the 10x amount.

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.