We love to talk about resilience, entrepreneurship, investing and growing wealthy. But what if life doesn’t go according to plan? What if your house or apartment gets swallowed by a fire? What if you get hurt and can’t work? What if you die young?

It’s not fun to think about, but risk management is every bit as important as investing and growing your income. The right Insurance products form the foundation for good risk management. But finding the right insurance used to be a huge hassle. Today, Policy Genius is working to make it easy for young adults to find excellent insurance products at rock bottom prices.

If you don’t know whether you have the right insurance products, I absolutely recommend Policy Genius as a top of the line independent insurance broker. Here’s what you need to know.

Try The Insurance Checkup

When you go to an insurance brokers website, you know they’re going to try to sell you insurance. To me, that’s okay. Most people are underinsured.

To prove that to yourself, consider using the Policy Genius Insurance Checkup. Policy Genius asks you about yourself and your insurance coverage. Then an algorithm determines if you may have need more insurance.

They address everything from car insurance to long term car insurance. Once you complete a 3 minute questionnaire, they recommend insurance products that you might need. Then they funnel you through to the quote process.

Easy to use Quote Process

If you know the type of insurance that you need to buy, Policy Genius’s quote process is quick and easy. They offer quotes on Life Insurance, Health Insurance, Disability Insurance, Pet Insurance, and Renters Insurance.

Each quote process starts with asking personal information (which is conveniently saved from the Insurance Checkup). Then they ask you questions about your coverage needs. If you’re not sure what you prefer, Policy Genius asks easy to understand questions. They break things down in understandable terms, so that you can adjust the insurance to fit your needs. They also keep track of the options that you’ve chosen.

Once you complete a 5 minute survey, Policy Genius will recommend insurance based on your stated preferences.

Disability Insurance

I was particularly impressed with the Disability Insurance quoting process. Disability insurance is difficult to understand, and most online brokers make the process opaque. With Policy Genius, I felt confident that I was getting the best product to meet my needs.

I also liked how I could see the price ranges change based on my options. Whether you have a tight budget or a lot of wiggle room, Policy Genius will find an insurance product that fits your need.

Health Insurance

I also liked that Policy Genius has more health insurance options than the health insurance marketplace, Healthcare.gov. If you don’t qualify for health insurance subsidies, I recommend checking out Policy Genius during open enrollment next year. You’ll see more options compared to healthcare.gov. This is because certain companies don’t qualify to offer plans on the exchange. However, the company’s plans still meet the minimum standards set out in the Affordable Care Act.

If you do qualify for health insurance subsidies, you can still use Policy Genius. The process is easier to use than healthcare.gov, but you’ll see the same options as you see on Healthcare.gov.

Level Term Life Insurance

The Life Insurance quoting process featured an easy to use calculator, and lots of clear questions. Policy Genius made the same recommendation in 5 minutes that my insurance agent made after 2 hours of questions. That’s impressive.

Drawbacks to Policy Genius

One drawback to Policy Genius is that they offer limited life insurance products. Specifically, they offer level term life insurance. This is an excellent product. Most people need some level term life insurance during their life.

However, it’s not necessarily the only type of life insurance worth considering. Young people may want to purchase annual renewable term life insurance. This type of insurance starts out really cheap and becomes more expensive as you get older. Your policy rate adjusts each year. Usually, you can convert the policy to whole life insurance if you want to. Unfortunately, Policy Genius doesn’t offer this type of insurance.

You also might not like the assumptions that Policy Genius makes for you. For example, they automatically recommend that you get disability insurance worth 60% of your take home pay. By knocking just $200 off the recommended number, I could save $40 per month. Be sure to play around with the interface.

Working with an online broker isn’t as personalized as working with a real person. You might save money, but you might not buy the right product. It’s a risk that you take when you choose your own insurance products.

Final Thoughts on Policy Genius

Protecting your income (with disability insurance), and your loved ones (with life insurance and pet insurance) may be the most important steps you can take. Policy Genius makes it easy to get covered.

Policy Genius isn’t perfect, but they make insurance easy enough.

You don’t have any excuse not to try out their services. Life doesn’t always go as planned. You need insurance, and probably more than you think. Check out Policy Genius, and get insured as soon as possible.

Have you tried Policy Genius?

Photo Credit: davidfranklinstudioworks

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