Policygenius partners with Brighthouse Financial to launch a faster, simpler way to access term life insurance

We wrote about Policygenius back in January after the Brooklyn, New York-based insurtech startup closed $100 million in Series D funding to grow its online insurance marketplace. Since then, the company has been busy working behind the scene on a new product that will support consumers who want to secure life insurance but are worried about taking a medical exam due to the COVID-19 outbreak.

Interest in getting life insurance has surged broadly due to the pandemic, but with social distancing guidelines in place, many consumers are concerned about taking the medical exam involved in applying.

Today, Policygenius announced it has partnered with Fortune 500 life insurance provider Brighthouse Financial to create a new life insurance product that addresses this need. Dubbed Brighthouse SimplySelectSM, the new product is a new term life insurance product available online through Policygenius.

Brighthouse SimplySelect features a fast and simple purchase process that doesn’t require invasive testing, allowing an underwriting decision within 24 hours for most applicants. This collaboration between Policygenius and Brighthouse Financial provides a way for consumers to easily secure the life insurance coverage they need from two companies dedicated to helping improve the life insurance-buying experience.

This partnership is yet another example of the insurance industry — both carriers and digital marketplaces like Policygenius — moving quickly to respond to changes in consumer preference. Now, consumers can receive comprehensive coverage in as little as three to four days, with zero in-person testing or lab work involved. The purchase process is designed to be quick, simple and affordable — aimed at helping families get financial protection right.

“Brighthouse SimplySelect offers busy people a quick and convenient way to provide the financial security for their families that term life insurance gives,” Conor Murphy, chief operating officer, Brighthouse Financial, said. “We are delighted to be working with Policygenius, an industry leader in providing a seamless and easy insurance-purchasing experience.”

Brighthouse SimplySelect offers life insurance protection with guaranteed coverage for 10, 20, or 30 years, giving consumers a choice in planning how to provide for loved ones should the unexpected happen. The product also provides guaranteed level premiums, which can help make financial planning more predictable.

To apply, consumers visit the Policygenius website to answer a few questions and then work with a licensed Policygenius agent to complete the application by telephone. There are no required medical exams, and consumers aren’t asked to undergo lab work, significantly speeding up the underwriting process and enabling consumers to get a decision faster than is typically possible with a traditional underwriting process.

“We know it’s important for families to get the financial protection they need,” Jennifer Fitzgerald, CEO and co-founder of Policygenius, said. “We are excited for this relationship with Brighthouse Financial to launch Brighthouse SimplySelect to help even more families get life insurance right.”

Policygenius was founded in 2014 by two former McKinsey consultants, Francois de Lame and Jennifer Fitzgerald. The duo saw a gap in the insurance industry and dedicated themselves to shifting the industry online and into the hands of the consumer. Through its highly tailored Insurance Checkup™, users can discover their coverage gaps and review solutions for their exact needs. The company provides the only place online to shop for life, long-term disability, renters and pet insurance through its highly accurate quoting engines that offer side-by-side comparisons of tailored policies.

Policygenius has helped more than 30 million people shop for insurance and is one of the largest term life insurance brokers in the United States. It is the leading destination for online comparison and buying of all types of insurance, including life, home, auto and disability insurance.