New insurance coverage providing, nowly, goals to disrupt the trade with a digital-first strategy and purpose-driven initiative

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Academics Life launches new model, shaking up the sector with a ‘reside now-ly’ angle; offering instantaneous protection, instantaneous well being & wellness advantages, and a dedication to giving again via a free social-preneur assist program, Press Begin.

TORONTO, Feb. 14, 2022 /CNW/ – Launching at this time, nowly provides Canadians* instantaneous life insurance coverage they will profit from now, offering world-leading well being & wellness advantages via a premium digital-delivery platform, together with a steadfast dedication to its group. Backed by Academics Life, with over 80 years of trade expertise and reliability, nowly goals to disrupt the life insurance coverage house with a digital-first providing and a sturdy give again program, supporting social-preneurs in Canada who’re dedicated to creating constructive social change.

Launching throughout Canada at this time, nowly is a brand new model, providing reasonably priced and dependable life insurance coverage time period protection inside minutes. (CNW Group/nowly)

In response to latest knowledge, 40 per cent1 of Canadians haven’t any life insurance coverage. Moreover, whereas 64 per cent2 of Canadians consider life insurance coverage is likely one of the most necessary varieties, practically 80 per cent3 are dramatically underinsured. These protection gaps, particularly amongst millennials, largely exist as a result of customers do not feel they perceive life insurance coverage (70 per cent4) and/or really feel the method is simply too tough and gradual (67 per cent4). That is the place nowly is available in.

“The main target for nowly is straightforward: to make life insurance coverage straightforward and accessible to Canadians via modern know-how,” says Martha Turner Osborne, Chief Advertising and marketing & Gross sales Officer of Academics Life. “At nowly, we’re all about ‘dwelling nowly’ – which suggests getting instantaneous protection, instantaneous advantages and being a member of an insurance coverage firm that provides again, now.”

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By way of its digital-first platform, members obtain world-class instantaneous on-line protection with charges as little as 5 {dollars} per 30 days and protection of as much as $1,000,000, with no medical exams. When you grow to be a member, you might be invited to register for nowly’s buyer portal iOS/Android app, nowly Insurance coverage: My Advantages, the place you’ll be able to entry member advantages, coverage paperwork and on-demand assist. The web site provides a best-in-class UX. nowly has partnered with main insurtech platforms ManageMy and Breathe Life to construct a better of breed digital ecosystem for its members. Upon signing up, members earn instantaneous wholesome dwelling advantages together with complimentary entry to a world-leading Digital Well being & Wellness Program powered by Virgin Pulse, a 50-dollar annual rebate in direction of well being and wellness bills/memberships (e.g. Peloton, Calm, meditation courses, and so on.), and are actively supporting the model’s social give again program, Press Begin.

“nowly is a contemporary insurance coverage supplier with an enormous coronary heart – we’re passionately dedicated to investing in people who find themselves the innovators of tomorrow,” says Turner Osborne. “Our social give again program, Press Begin, connects, helps and empowers entrepreneurs, with a deal with social points and/or sustainability, to get began or take their enterprise to the subsequent stage and produce about radical options, now.”

Press Begin Hub, this system’s enterprise instruments and assets portal, is offered without cost to all Canadians and supplies curated assist for established and early-stage entrepreneurs. Press Begin Co-Lab, coming this spring, is this system’s occasion collection that may carry collectively lecturers, thought leaders and the Press Begin group to collaborate on discovering options to main social challenges.

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The way it works: Merely head to nowly.ca, and start filling out a web-based utility, which features a fast quote and a wants evaluation to make sure you’re getting the precise protection for your loved ones. Must you require additional help you’ll be able to request a gathering with a licensed gross sales agent proper from the applying, out there to reply any questions you want all through the method. The web utility requires no medical, and from day one it is possible for you to to buy time period life on the preliminary level of sale. nowly provides phrases 10, 15, 20 and 25 to all Canadians (excludes Quebec day one*) ages 18-60. Upon signing up, members obtain complimentary instantaneous protection and entry to a Digital Well being & Wellness Program powered by Virgin Pulse together with a 50-dollar wholesome dwelling annual rebate. nowly provides a 30-day money-back cancellation coverage. You may cancel at any time all through the time period of your coverage.

For extra info or to join instantaneous protection go to www.nowly.ca, and obtain the nowly Insurance coverage: My Advantages app to entry your member portal.

Observe @nowlyinsurance on Instagram, Fb, LinkedIn and Twitter for the most recent.

Footnotes:
*Quebec companies to be launched at a later date.

  1. Ernst & Younger, EY International Insurance coverage Outlook, March 16, 2021

  2. Coverage Advisor, State of the Nation: Life Insurance coverage Tendencies 2020: Pandemic Checkup, December 16, 2020

  3. Coverage Advisor, State of the Nation: Life Insurance coverage Tendencies 2019, October 29, 2019

  4. IBM, Why aren’t Millennials shopping for life insurance coverage? March 2, 2020

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About nowly

nowly is a brand new mind-set about insurance coverage, providing Canadians reasonably priced and accessible insurance coverage on an modern and streamlined platform, immediately. Backed by over 80 years of trade expertise, nowly members will obtain instantaneous protection and world class well being and wellness advantages. As a nowly member, you might be eligible for wholesome dwelling advantages powered by world chief Virgin Pulse and an annual 50-dollar Dwelling Wholesome rebate on any well being and wellness app or membership. You may really feel assured understanding you might be becoming a member of an organization dedicated to investing in lasting social influence via their new, modern give again program referred to as Press Begin. nowly is a trademark of Academics Life Insurance coverage Society (Fraternal) “Academics Life”. Discover out extra at www.nowly.ca.

About Academics Life

Academics Life is a fraternal insurer with a mandate to present again to our Members. Since 2010, via innovation, they have been in a position to considerably streamline their course of to generate greater than $3.6 million for reinvestment again to the group and their Members together with investing greater than $450,000 in scholarships and bursaries for the households of policyholders. Devoted to those that work in training, these awards are a flagship program of the insurance coverage firm’s fraternal mandate. Discover out extra at www.teacherslife.com.

nowly logo (CNW Group/nowly)

nowly emblem (CNW Group/nowly)

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