Life insurance company Brighthouse Financial has formed a partnership with online insurance marketplace Policygenius to support the launch of its new term life insurance product.
The deal will see Brighthouse SimplySelect available through the Policygenius platform.
The new product from Brighthouse offers a simple purchase that doesn’t necessitate invasive testing and can reach an underwriting decision within 24 hours.
Brighthouse SimplySelect offers life insurance with a guaranteed coverage for 10,20 or 30 years, giving consumers the choice in planning how to provide for loved ones after death. It also offers guaranteed level premiums, which can make financial planning more predictable.
Based in the US, Policygenius is an online marketplace which helps consumers to find the best insurance products for them. The company has issued a total of $45bn in life coverage to date.
Users can use the platform to compare life, home, auto, disability and renters insurance.
Brighthouse Financial chief operating officer Conor Murphy said, “Brighthouse SimplySelect offers busy people a quick and convenient way to provide the financial security for their families that term life insurance gives.
“We are delighted to be working with Policygenius, an industry leader in providing a seamless and easy insurance-purchasing experience.”
Earlier in the year, Policygenius closed a $100m Series D round to support its goal of launching new products and hiring more staff.
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