nowly Launches Expanded Insurance Offerings and Enhanced Consumer Experience with SmartLife Product Lineup
TORONTO, May 04, 2023 (GLOBE NEWSWIRE) — nowly, the digital-first and purpose-driven Canadian life insurance brand, today announced the availability of its SmartLife Product Lineup. These expanded and streamlined offerings are specifically designed to meet the needs of Canadians, providing up to $1 million in coverage for terms of 10 to 100 years.
nowly, a division of Teachers Life, launched in early 2022 to provide Canadian consumers with instant issue life insurance products, valued-added health and wellness benefits, and an innovative social give-back program, Press Start. The new SmartLife Product Lineup represents an evolution of the nowly insurance offering and features a suite of instant issue and simplified underwriting renewable and non-renewable term life coverage offered in 10, 15, 20, 25-year terms with up to $1M in coverage. These new and enhanced insurance products also include a seamless medical underwriting flow for applications that require more medical information.
All nowly products are now powered by a new, award-winning digital insurance platform from ManageMy. The platform features a best-in-breed hybrid agent-assisted experience from point-of-sale to post-sale through nowly’s state-of-the-art member portal. Moreover, the entire ecosystem can be white labeled for distribution partners who need a turnkey life insurance product offering backed by Teachers Life and its 80 years of industry experience and reliability.
“nowly is about helping our fellow Canadians live their best lives now, with simplified life insurance offerings, as well as value-add health and wellness benefits and a social give-back program” said Kayte Fredrickson, President and CEO of nowly and Teachers Life. “The launch of our SmartLife Product Lineup and innovative new technology platform underscores our commitment to the Canadian market and creates a foundation from which we can continue to expand and grow.”
nowly is a new way of thinking about insurance, offering Canadians affordable and accessible insurance on an innovative and streamlined platform, instantly. Backed by over 80 years of industry experience, nowly customers are also members of Teachers Life, a leading fraternal insurer with a mandate to give back to its Members. nowly customers are also eligible for healthy living benefits powered by global leader Virgin Pulse and an annual 50-dollar Living Healthy rebate on any health and wellness app or membership. nowly and its customers are also committed to investing in lasting social impact through its pioneering give back program called Press Start. nowly is a trademark of Teachers Life Insurance Society (Fraternal) “Teachers Life”. Find out more at www.nowly.ca.