Eleos Life, a UK-based InsurTech focused on digital-first protection products, has rolled out a new term life insurance plan aimed at making cover more affordable, accessible and relevant for modern households.
The launch comes against the backdrop of the UK’s sizeable life insurance gap, according to FF News.
Figures from the Financial Conduct Authority (FCA) show that only 28% of UK adults hold life insurance, leaving the majority of families at risk should they face the loss of a main income earner or unexpected financial shocks.
Eleos Life’s strategy is to close that gap by embedding life cover into the apps and services people already use, rather than relying on traditional distribution channels such as mortgage brokers or workplace schemes.
Its partners include financial services brands, rental platforms and gig-economy apps, offering embedded and white-label insurance solutions directly where they are most relevant.
The new digital-first product can be arranged in just minutes. Customers are able to tailor policy terms between five and 20 years, with cover ranging from £5,000 up to £250,000. Premiums start from £5 per month, and claims pay out as a lump sum in cases of death or terminal illness.
The application requires as few as five questions, with no medical examinations, phone interviews or paperwork involved.
Eleos Life also differentiates itself by building additional wellbeing benefits into its cover. Existing perks include services such as GoGP, mental health counselling and physiotherapy.
From this month, two new extras are being added for UK customers: LiveSmart, a digital health platform offering personalised wellbeing plans, and The Body Coach app from Joe Wicks, providing tailored workouts and meal plans.
By blending financial protection with lifestyle support, the company aims to redefine what life insurance means in today’s digital landscape.
Policyholders gain access not only to cover, but also to practical health tools, from interactive dashboards and wellbeing reports to live workouts and seasonal nutrition guidance.
“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.”
