Nuula deepens focus on term life insurance

Nuula , an app for businesses, is now offering term life insurance products from several carriers via Engine by MoneyLion (Even Financial) , the subsidiary of MoneyLion as of last year. Through the Nuula app, users will now be able to shop, compare and buy term life Insurance, with policies up to $5 million in coverage and terms of 10-40 years.

The policies in Nuula’s new Term Life Insurance feature are generated and serviced by LeapLife , an insurtech platform and licensed life insurance agency, that is owned and operated by Even.

“While small business owners and entrepreneurs are investing in their business, they also need to more easily invest in themselves and in the security of their loved ones. Adding Term Life Insurance further expands the range of services we are delivering to meet the diverse needs of today’s small business owner.” – Mark Ruddock, CEO at Nuula.

“Policyholders want a simpler way to shop around, compare policies and prices, and find a policy that is right for them. By partnering with Even, Nuula’s small businesses are provided with a curated network of carriers rated A- and above by AM Best, world-class customer support and a search feature that matches people with the right policies and lowest available prices when and where they need it.” – Andrew Naoum, SVP of Sales at Even.

The news follows the launch of a personal loan search feature aimed towards early-stage small businesses, powered by Even.

Bottom Line: Bad news for Walnut Insurance.