PolicyMe and Embark Collaborate to Enhance Financial Security for Canadian Families

PolicyMe, a leading digital insurance provider in Canada, has partnered with Embark, a Canadian education savings and planning company, to offer families an integrated approach to financial planning. This collaboration combines life insurance options with education savings plans like RESPs to provide comprehensive financial security for Canadian households. Embark clients gain access to PolicyMe's life insurance platform after opening RESP accounts, allowing parents to explore insurance coverage that safeguards their families against unforeseen financial hardships while planning for children's education. The partnership includes educational initiatives such as webinars and content aimed at enhancing financial literacy, particularly around life insurance and savings strategies. This focus on education supports families in making well-informed and balanced financial decisions. PolicyMe's platform offers digital-first, affordable life insurance solutions with near-instant quotes and coverage recommendations tailored for Canadian families. Embark manages a significant volume of education savings funds, with over $6 billion in assets under management and nearly 600,000 RESP accounts across Canada. Their mission is to simplify education savings planning while this joint effort with PolicyMe extends support for protecting family financial stability. The partnership reflects broader trends in digital transformation within the insurance and financial planning sectors, leveraging technology to provide accessible and user-friendly financial products. By integrating life insurance with education savings, this initiative responds to the need for holistic financial planning tools, helping families prepare for both expected expenses like education and unforeseen events. It also aligns with ongoing efforts to improve Canadians' financial literacy, an important factor in fostering resilient household finances amid economic uncertainties. This collaboration underscores an innovative approach in the Canadian financial services market, combining strengths from insurance and education savings sectors to better meet consumer needs digitally. It also signals potential growth areas for digital insurance providers focusing on family-centric financial products. Overall, PolicyMe and Embark's partnership aims to build a more secure and informed financial future for Canadian families.