Insurtech Policygenius Platform Continues Rapid Growth with Launch of New Convenient Life Insurance Option with No Medical Exam and Living Benefits Suite
NEW YORK, April 6, 2022 /PRNewswire/ — Policygenius, the nation’s leading technology platform for insurance research and execution, today announced the new offering of an innovative life insurance product from Foresters Financial. The product, Foresters Your termoffers consumers a new way to access life insurance in an affordable, fast and convenient way, enabling many applicants to make an underwriting decision in less than 24 hours.
With this latest addition to its market, Policygenius continues its rapid growth trajectory and expands its exclusive offerings of accelerated underwriting life insurance options, which allow eligible customers to obtain life insurance without a medical exam.
“Our mission is to simplify access to financial protection, and we have achieved this through our proprietary technology and excellent customer service,” Jennifer Fitzgerald, CEO and co-founder of Policygenius, said. “We’re proud to expand our product line with this life insurance offering from Foresters Financial so we can help more people get the insurance they need as easily as possible.” The Policygenius platform offers the widest selection of accelerated underwriting life insurance on the market, including exclusive offers from Foresters Financial and Brighthouse Financial. »
Foresters Financial is an international financial services provider that offers life insurance, retirement and savings solutions that help families achieve their long-term financial goals. Foresters Your term provides life insurance protection for terms of 10, 15, 20, 25 or 30 years with coverage amounts of $100,000 for $1 million, giving consumers the ability to find the right coverage for their needs. With a streamlined, digital application process, eligible customers can quickly and easily obtain no-medical life insurance coverage in as little as one week. Insurability is dependent upon answers to medical and other application questions as well as underwriting research and review.
Foresters Financial will have a unique position with Policygenius as it is the only fraternal life insurer represented on its platform. Policyholders of Foresters are called members1 because they join the Independent Order of Foresters with the purchase of an insurance policy. Members enjoy various benefits for the welfare of the community through the income of the organization. Benefits include scholarships, community grants, online legal services and a recently launched state-of-the-art wellness engagement app, Foresters Go.
To apply, consumers visit the Policygenius website to answer a few questions before completing their application over the phone with an authorized Policygenius agent. This dramatically speeds up the underwriting process and allows consumers to receive a decision faster than is typically possible with traditional underwriting.
“We traditionally help families through independent agents, and we’re excited to join Policygenius’ platform to help consumers who prefer to shop online,” matt bermann, chairman of Foresters Financial US, said. “Too many people are underinsured in United States. It’s important to be able to offer them other ways to buy life insurance so they can protect themselves and their families.”
Since its inception in 2014, Policygenius has grown rapidly to help millions of people buy insurance and sell more than $160 billion In front page. No-exam life insurance options feature a quick and easy buying process that doesn’t require invasive testing. With today’s launch of Foresters Your Term, Policygenius is expanding access to great, accelerated underwriting life insurance products for all client demographics.
Policygenius is transforming the insurance journey of today’s consumer, providing a single platform where customers can compare options from top insurers, get unbiased expert advice, buy policies and manage their insurance portfolio. insurance, in an integrated and transparent experience. Our proprietary technology platform integrates with leading life, disability, home and auto insurers and delivers an exceptional digital experience for consumers and insurers. Since 2014, our content, digital tools and experts have served as a resource to millions of people on their insurance journey, and we’ve sold more than $160 billion In front page.
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About Foresters Financial
Foresters Financial is redefining the life insurance and personal savings industry around the world we, Canada and UK by enriching the lives, communities and general well-being of its members. Agents and members appreciate turnkey product offerings and end-to-end digitized processes that make it easier to get life insurance without traditional medical exams. Dedicated to the well-being of its members, Foresters offers a range of member benefits and redefines the conventional life insurance model, bringing improved financial security and overall well-being to everyday North American families. Foresters Financial is the trading name of The Independent Order of Foresters, the oldest non-denominational fraternal benefit society. For 21 consecutive years, the Independent Order of Foresters received an “A” (Excellent) rating from AM Best2.
For more information:
Brooke NiemeyerAssociate Director of Media Relations, Policygenius
Catherine PerrierSenior Manager, Communications, Foresters Financial
Foresters Financial, Foresters, Helping Is Who We Are, Foresters Care, Foresters Go and the Foresters Go logo are trade names and/or trademarks of The Independent Order of Foresters (a fraternal benefit society, 789 Don Mills Road, Toronto, ON, Canada M3C 1T9) and its subsidiaries.
Foresters Your mandate: ICC16-TERM-ANB-US01 or TERM-ANB-XX01-2016;
1 Foresters members are insured under a certificate of life or health insurance, or annuitants under a certificate of annuity, issued by the Independent Order of Foresters, or social fraternal members. Benefits offered to members of Foresters Financial are non-binding, subject to specific benefit eligibility criteria, definitions and limitations and may be changed or canceled without notice or are no longer available.
2 the AM Best rating awarded on July 29, 2021 reflects the overall strength and claims-paying ability of The Independent Order of Foresters (IOF) but does not apply to the performance of non-IOF issued products. An “A” (Excellent) rating is assigned to companies that have a strong ability to meet their ongoing obligations to policyholders and that, overall, have excellent balance sheet strength, operational performance and business profile by compared to the standards established by AM Best Company. AM Best assigns grades from A++ to F, with A++ and A+ being superior grades and A and A- being excellent grades. See ambest.com for our latest review.
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