Life insurance technology company Bestow has partnered with Equitable, a financial services company, to launch a digital term life insurance offering.
Powered by Bestow’s platform, the offering Term-in-10 was designed for Equitable to combine the best of digital distribution paired with the tailored support of a financial professional. It is solely available through Equitable Advisors Financial Professionals who are agents of Equitable Network — providing a digital solution to existing customers and leveraging technology to reach and serve the next generation of customers.
Existing and prospective Equitable customers work with a financial professional to determine their specific life insurance needs and then apply for a term life insurance policy entirely online. If approved, coverage begins immediately.
Term-in-10 does not require a medical exam and is available in robust coverage amount up to $1m and for 10, 15 and 20-year term lengths.
Hector Martinez, head of the life insurance business at Equitable, said the pandemic prompted interest in new protection solutions and the way Americans shop for these products as people shifted their attention to focussing on their holistic well-being.
“The partnership with Bestow is another important step in our strategy to help financial professionals serve the needs of their clients with innovative and tailored solutions designed with today’s consumer in mind.â€
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