Policygenius, Brighthouse Financial Collaborate on Consumer-Friendly Term Life Product

Brighthouse SimplySelect features a convenient application process and streamlined underwriting that may result in coverage within 24 hours.

(Image source: Policygenius homepage.)

Brighthouse Financial, Inc. (Charlotte, N.C.) one of the largest providers of annuities and life insurance in the U.S., with $219 billion in total assets, and Policygenius, a New York-based online insurance marketplace providing customized insurance purchasing advice and individual insurance policy sales, have announced the launch of Brighthouse SimplySelect, a new term life insurance product available online through Policygenius.

Conor Murphy, COO, Brightthouse Financial.

Brighthouse SimplySelect features what a joint announcement characterizes as 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.

“Brighthouse SimplySelect offers busy people a quick and convenient way to provide the financial security for their families that term life insurance gives,” comments Conor Murphy, COO, Brighthouse Financial. “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, which the companies say gives 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.

Jennifer Fitzgerald, CEO and co-founder, Policygenius.

Faster Underwriting Decision

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, which the companies say significantly speeds up the underwriting process and enables 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,” comments Jennifer Fitzgerald, CEO and co-founder of Policygenius. “We are excited for this relationship with Brighthouse Financial to launch Brighthouse SimplySelect to help even more families get life insurance right.”

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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