Teachers Life introduces SmartLife product lineup and issuance platform
Teachers Life announced the availability of its digital-first SmartLife product lineup and instant issuance platform, a white-label solution that features simplified term life products powered by a digital insurance platform. In addition, Teachers Life has secured OTIP as its first distribution partner for the new SmartLife platform.
The SmartLife product lineup and instant issuance solution provides distribution partners with a suite of simplified renewable and non-renewable term life coverage offered in 10, 15, 20, 25, and 100-year terms with up to $1M in coverage. It also includes medical underwriting flow for applications that require more medical information. Distribution partners can also offer a self-serve or agent-assisted application process to ensure customers can access the right coverage and products that meet their individual needs and purchasing preferences.
“Teachers Life is offering a turnkey term life insurance distribution solution to make it easy for OTIP and other insurers to expand and modernize their insurance offerings without the risks associated with unproven partners. With more than 85 years of industry experience and reliability, Teachers Life is an easy choice for partners that want to get to market quickly with a proven, digital-first term life insurance solution.” – Kayte Fredrickson, President and CEO of Teachers Life.
OTIP, a longstanding partner of Teachers Life, is the first distributor to launch on Teachers Life’s new white-labeled solution.
“Adding the SmartLife product lineup and instant issuance platform from Teachers Life reflects our commitment at OTIP to delivering an outstanding insurance and service experience to the dedicated members of Ontario’s education community. Providing our members with simplified, digital-first term life products backed by Teachers Life enables us to confidently offer members more choice, convenience, and affordable life insurance options.” – Vic Medland, CEO of OTIP.
