Even Staff

2020-09-08

What Does The Largest End-To-End Multi-Carrier All-Digital Online Life Insurance Flow Mean For Consumers?

LeapLife, powered by Even Financial, has the best end-to-end multi carrier all-digital online life insurance flow in the industry. Sounds impressive, but what does that really mean for you as a consumer? It means you can rest assured knowing you found the best life insurance policy to fit your personal health and lifestyle history at the best possible price- without having to spend hours researching. How is that possible? There are a few key components that go into making this statement a reality.

 

The Largest Network of Premium Life Insurance Carriers

 

First, LeapLife only works with life insurance carriers that are A- or better rated with AM Best for their financial strength. This means you will only find long-established carriers that have deep assets on our platform, so you know that they will be there to pay a benefit to your beneficiaries if something were to happen to you in the future. Not only are these the largest and strongest life insurance carriers in the country, but they also have the lowest prices. Sound too good to be true? It isn’t. The larger a life insurance company is, the higher their risk tolerance is. Thus, they are able to take on risk (writing you a policy) at a lower price than a lesser-rated company with lower assets. 

 

Search, Comparison, and Recommendation Engine

 

Second, LeapLife uses a recommendation engine to match you with the right life insurance carrier for your personal health and financial history. Every life insurance carrier has their own underwriting guide that they follow to determine the price you pay for your policy, and each carrier can possibly view the same health condition differently. There is no negotiating pricing for life insurance, it is a heavily regulated industry and the carriers are required to report their pricing and guidelines to the Department of Insurance in order to sell their policies to consumers. The best part about LeapLife’s platform is that by answering a few questions we do that matching for you in less than 60 seconds. Your age, build, gender, tobacco history, medical conditions, prescriptions, and financial history all make up the pieces of information a life insurance carrier uses to assess and determine your insurability. We eliminate the guesswork and find the right fit for you, and present you with personalized life insurance policy quotes quickly and easily.

 

Digital Approval + Full Agent Support When Needed

 

Third, if you find a quote you want to proceed with, applying is a breeze! It takes most people 10-15 minutes to finish. Depending on your health and the coverage amount chosen, you will be presented with an online application path or phone application path. Both paths have multiple life insurance carriers and options to choose from. Since life insurance is indeed something you have to qualify for, some people will walk away with a policy in their hands instantly and others will need a more traditional approval path that can take a few weeks to complete. No matter the path that is right for you, the LeapLife team will be with you every step of the way keeping you advised of the status of your approval and anything that is needed. 

 

These three components truly set LeapLife apart from the competition. The other digital end-to-end options available to consumers online today are only offering one product from one life insurance carrier. They are shoving you into one set of underwriting guidelines that may or may not fit your personal history, and this can result in a higher chance of being declined or possibly paying a higher price if you are indeed approved. There are also many places online where you can compare the prices of top-rated life insurance carriers, but no matter which carrier you choose—you’ll end up on the phone with an agent to apply, and aren’t offered a digital application option even if you qualify for it. Speed, convenience, personalized service, and peace of mind are all part of the value that LeapLife provides. Get a quote today and let us show you the LeapLife difference. We know life insurance isn’t fun, that’s why we made it easy and tailored just for you.

Disclaimer: The material provided on this site is not intended to provide legal, investment, or financial advice or to indicate the suitability of any Even Financial product or service to your unique circumstances. For specific advice about your unique circumstances, you may wish to consult a qualified professional. Any information or statistical data sourced by Even Financial through hyperlinks, from third-party websites, are provided for informational purposes only. While Even Financial finds these sources to be accurate, it does not endorse or guarantee any third-party content

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HAVEN LIFE
Haven Life’s All-Digital Life Insurance Application Experience Launches on Even Financial’s Leading Life Insurance Search Engine
Even features the industry’s largest multi-carrier, all-digital life insurance marketplace New York, New York – August 16, 2021 – Even Financial (“Even”), the leading search, comparison, and recommendation engine for financial services, has announced the launch of Haven Term and Haven Simple on its life insurance marketplace platform. Leveraging machine learning and advanced data science, Even solves a significant pain point in financial services customer acquisition by seamlessly bridging financial institutions and channel partners via its industry-leading API and embeddable solutions.   With the addition of Haven Term and Haven Simple, Even has further expanded its extensive network of premium life insurance offerings, strengthening its position as the industry’s largest multi-carrier, all-digital life insurance marketplace. Haven Life, which offers Haven Term and Haven Simple, and is backed and wholly owned by Massachusetts Mutual Life Insurance Company (MassMutual), is known for its customer-centric approach and for its commitment to making life insurance more affordable and accessible. Haven Life’s term life insurance offerings will be available on Even properties and via its wholly owned subsidiary LeapLife.   “In these uncertain times, the majority of U.S. adults want the financial security of high-quality life insurance, but are often dissuaded by the complex application process and need to complete an in-person medical exam,” said Phill Rosen, Founder and CEO of Even Financial. “Haven Life’s groundbreaking, all-digital application experience brings tremendous accessibility and peace-of-mind to consumers. We’re thrilled to welcome them to the Even platform.”   The launch of Haven Term and Haven Simple on the Even platform enables consumers to get matched with medically underwritten term life insurance policies that they can apply for and, if approved, purchase instantly online. While most Haven Term applicants will need to take a medical exam, Haven Simple applicants do not. Haven Life’s offerings expand the variety of life insurance options already available to consumers through Even’s API.   “Haven Life is committed to meeting life insurance customers wherever they are — and often, it's where they are managing the rest of their financial life," said Wade Seward, Head of Distribution Strategy at Haven Life. "On the heels of introducing even more affordable pricing for the Haven Term product, our partnership with Even Financial allows us to marry that affordability with greater accessibility to offer comprehensive financial protection to shared clients with ease and efficiency.”    Even entered the life insurance industry in 2020 through its acquisition of LeapLife, a leading insurtech and licenced life insurance agency. Since that acquisition, Even has worked with its large network of channel partners to make the process of getting personalized life insurance fast, easy, and accessible for consumers. In addition to Haven Term and Haven Simple, products offered by leading insurance companies including Lincoln Financial Group, Pacific Life, and Mutual of Omaha are available through LeapLife, Even’s life insurance platform. Companies such as TransUnion and Lantern by SoFi rely on Even’s embedded finance marketplaces to power 100% digital personalized life insurance policy quotes for their customers, with live agent support.   Even has continued its rapid growth trajectory in 2021 by reaching over $3 billion in consumer credit issued through its API and expanding its platform to over 800 partners. Earlier this year, Even was named one of “America’s Best Startup Employers'' by Forbes for 2021 and placed in the Top 50 of the 2020 Deloitte Technology Fast 500, which recognizes the fastest growing tech companies in the world.   About Even Financial   Founded in 2014, Even Financial is a B2B fintech company that is transforming the way financial institutions find and connect with consumers. As the leading search, comparison, and recommendation engine for financial services, Even seamlessly bridges financial institutions (such as SoFi) and channel partners (such as TransUnion) via its simple yet robust API and embeddable solutions. Even turns any consumer touchpoint into a comprehensive financial services marketplace with full compliance and security at scale. The company is backed by leading financial services firms and VCs, including American Express Ventures, Canaan Partners, Citi Ventures, Fidelity’s F-Prime Capital, Greatpoint Ventures, Goldman Sachs, LendingClub, and MassMutual Ventures. Learn more at www.evenfinancial.com.   About Haven Life Insurance Agency   Haven Life Insurance Agency, LLC (Haven Life) is re-thinking how people financially protect the ones they love. Haven Life is committed to delivering exceptional products, delightful purchasing experiences, and meaningful moments of service to the modern life insurance customer. Haven Term is a Term Life Insurance Policy (ICC21 Haven Term in certain states, including NC) issued by C.M. Life Insurance Company (C.M. Life), Enfield, CT 06082. In New York (DTC-NY), and California (DTC-CA), and other states, it is issued by Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111-0001.    Policy and rider form numbers and features may vary by state and may not be available in all states. Haven Term is available through Haven Life Insurance Agency, LLC (Haven Life), whose agency license number in California is OK71922 and in Arkansas, 100139527. Both Haven Life and C.M. Life are wholly owned subsidiaries of MassMutual.   Please note that issuing the policy or paying its benefits depends on the applicant’s insurability, based on their answers to the health questions in the application, and their truthfulness.   MassMutual and its subsidiaries C.M. Life Insurance Company and MML Bay State Life Insurance Company are rated by A.M. Best Company as A++ (Superior; Top category of 15). The rating is as of June 1, 2021 and is subject to change. MassMutual has received different ratings from other rating agencies.   Media Contact media@evenfinancial.com    
YAHOO! FINANCE
Yahoo! Finance: Even Financial Reaches $3 Billion In Credit Issued Milestone
Even has surpassed a significant threshold in credit issued, having now facilitated over $3 billion in consumer credit as of July 2021. The milestone is significant in the financial services industry, as Even has also expanded its platform to over 800 partners.    Click below to read more at Yahoo! Finance.
PYMNTS
PYMNTS: Even Launches Embedded Finance App on Salesforce
Now, financial advisors and other businesses will have a way to leverage Even’s platform for their clients. ‘Financial Products for Salesforce’ - Powered by Even, a plug-and-play app available on the Salesforce AppExchange, matches consumers with real-time, personalized financial product offers.   Click below to read more at PYMNTS.com.