Insurtech platform Policygenius continues rapid growth with launch of a new, convenient life insurance option with no medical exam and suite of living benefits
NEW YORK, April 6, 2022 /PRNewswire/ — Policygenius, the nation’s leading tech-enabled platform for insurance shopping and fulfillment, announced today the new offering of an innovative life insurance product from Foresters Financial. The product, Foresters Your Termprovides 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.
“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 members1 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.
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 trillion 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.
Policygenius transforms the insurance journey for today’s consumer, providing a one-stop platform where customers can compare options from top insurance carriers, get unbiased expert advice, buy policies, and manage their insurance portfolio, in one seamless, integrated experience. Our proprietary technology platform integrates with the leading life, disability, and home and auto insurance carriers and delivers an exceptional digital experience for both consumers and insurance carriers. Since 2014, our content, digital tools, and experts have served as a resource for millions of people on their insurance journey, and we have sold more than $160 trillion in coverage.
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About Foresters Financial
Foresters Financial is redefining the life insurance and individual savings industry across the US, Canada and UK by enriching the lives, communities, and overall well-being of its members. Agents and members alike appreciate the turnkey-decisioned product offerings and end-to-end digitized processes that make it easy to get life insurance without traditional medical exams. Dedicated to its members’ well-being, Foresters offers a suite of member benefits and is redefining the conventional life insurance model, bringing improved financial security and overall wellness to everyday North American families. Foresters Financial is the trade name for The Independent Order of Foresters, the oldest non-denominational fraternal benefit society. For 21 straight years, The Independent Order of Foresters has received an “A” (Excellent) rating from AM Best2.
For more information:
Associate Director of Media Relations, Policygenius
Senior 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 Term: ICC16-TERM-ANB-US01 or TERM-ANB-XX01-2016;
1 Foresters members are insured under a life or health insurance certificate, or annuitants under an annuity certificate, issued by The Independent Order of Foresters, or social fraternal members. Foresters Financial member benefits are non-contractual, subject to benefit specific eligibility requirements, definitions and limitations and may be changed or canceled without notice or are no longer available.
2 The AM Best rating assigned 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 any 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 have, on balance, excellent balance sheet strength, operating performance and business profile when compared to the standards established by AM Best Company . AM Best assigns ratings from A++ to F, A++ and A+ being superior ratings and A and A- being excellent ratings. See ambest.com for our latest rating.