Eleos Life, a UK-based InsurTech specialising in digital-first insurance solutions, has launched a new term life insurance product designed to make financial protection more accessible, affordable and relevant for today’s families.
The company has introduced the product in response to the UK’s significant life insurance gap, according to FF News.
According to the Financial Conduct Authority (FCA), just 28% of adults currently have life insurance, leaving the majority of households financially vulnerable to unexpected costs or the loss of a breadwinner.
Eleos Life aims to close this gap by embedding protection into apps and platforms that people already use, making life cover more visible and easier to obtain.
Founded with the goal of modernising the life insurance market, Eleos Life focuses on challenging traditional distribution models.
Instead of relying on mortgage providers or employers, the company partners with financial service brands, apps for renters, and gig economy platforms to offer embedded and white-labelled insurance solutions where protection is most needed.
The newly launched product provides fully digital and customisable cover that can be set up in minutes.
Customers can choose policy terms from five to 20 years, with cover amounts ranging from £5,000 to £250,000.
Prices start at £5 per month, and claims are paid out as a lump sum in the event of death or terminal illness. The application process requires as few as five questions, without phone calls, paperwork, or intrusive medical exams.
Beyond financial protection, Eleos Life differentiates itself by bundling wellness perks into its policies at no extra cost. These include access to GoGP, mental health counselling, and physiotherapy. Starting this month, UK policyholders will also benefit from two new perks: LiveSmart, a digital health assessment platform offering personalised wellbeing plans, and The Body Coach app, developed by fitness expert Joe Wicks, which delivers customised workout and meal plans.
These additions highlight Eleos Life’s commitment to holistic protection—supporting both financial resilience and everyday wellbeing.
Policyholders gain practical health tools, from tailored wellness reports and interactive dashboards to live workouts and seasonal meal plans, underscoring the company’s ambition to redefine what life insurance means in the digital age.
“Insurance adoption stays low because awareness is limited, renters often don’t see the value, and most policies don’t engage people since no one thinks they’ll die young. We launched Eleos Term Life to close these gaps: simple, transparent, and affordable protection, made relevant with health and lifestyle benefits you can use from day one, not just when the unexpected happens,” said Eleos Life CEO Kiruba Shankar Eswaran. “By working through embedded and white-labelled partners, we’re making life insurance more accessible and meaningful for today’s families.”
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