Insurtech platform Policygenius continues rapid growth with launch of a new, convenient life insurance option with no medical exam and suite of living benefits
Policygenius, the nation’s leading tech-enabled platform for insurance shopping and fulfillment, announced the new offering of an innovative life insurance product from Foresters Financial. The product, Foresters Your Term, provides consumers with a new way to access life insurance affordably, quickly, and conveniently, enabling an underwriting decision in less than 24 hours for many applicants.
With this latest addition to its marketplace, Policygenius continues its rapid growth trajectory and expands its exclusive offerings of accelerated underwriting life insurance options, which enable eligible customers to secure life insurance without a medical exam.
Latest Fintech News: ComplyAdvantage Releases New Anti-Money Laundering Essentials Guide For Startups
“Our mission is to simplify access to financial protection, and we’ve achieved that through our proprietary technology and superb customer service,” Jennifer Fitzgerald, CEO and co-founder of Policygenius, said. “We’re proud to expand our product shelf with this life insurance offering from Foresters Financial so we can help more people get the insurance they need as conveniently as possible.” The Policygenius platform features the widest selection of accelerated underwriting life insurance in the market, including exclusive offerings from Foresters Financial and Brighthouse Financial.”
Foresters Financial is an international financial services provider, offering life insurance, retirement, and savings solutions that help families achieve their long-term financial goals. Foresters Your Term offers life insurance protection for 10-, 15-, 20-, 25-, or 30-year terms with coverage amounts from $100,000 to $1 million, giving consumers the flexibility to find the right coverage for their needs. With a streamlined, digital-first application process, eligible customers can quickly and easily secure life insurance coverage without a medical exam, in as little as a week. Insurability depends on answers to medical and other application questions and underwriting searches and review.
Foresters Financial will have unique standing with Policygenius as it is the only fraternal life insurer represented on its platform. Foresters’ insureds are known as members because they join The Independent Order of Foresters with the purchase of an insurance policy. Members enjoy various benefits with an eye toward community well-being through the organization’s earnings. Benefits include scholarships, community grants, on-line legal services, and a recently launched, state-of-the-art wellness engagement app, Foresters Go.
Latest Fintech News: Gaviti Raises $9 Million in Series A
To apply, consumers visit the Policygenius website to answer a few questions before completing their application by telephone with a licensed Policygenius agent. This significantly accelerates the underwriting process and enables consumers to receive a decision faster than is typically possible with traditional underwriting.
“We traditionally help families through independent agents, and we are excited to join Policygenius’ platform to help those consumers who would rather buy online,” Matt Berman, President of Foresters Financial US, said. “Too many people are underinsured in the United States. It’s important to be able to give them alternative ways to buy life insurance so they can protect themselves and their families.”
Since its founding in 2014, Policygenius has grown rapidly to help millions of people shop for insurance and sell more than $160 billion in coverage. No-exam life insurance options feature a fast and simple purchase process that doesn’t require invasive testing. With today’s launch of Foresters Your Term, Policygenius is expanding access to excellent accelerated underwriting life insurance products for all customer demographics.
Latest Fintech News: Raistone Teams Up with Mastercard to Accelerate Working Capital Payments for SMB
[To share your insights with us, please write to sghosh@martechseries.com]
