NEW YORK, Sept. 15, 2020 /PRNewswire/ -- Policygenius, the nation's leading online insurance marketplace, announced today the offering of an innovative life insurance product from Lincoln Financial Group, Lincoln TermAccel®, which provides consumers with a new way to access life insurance conveniently and quickly. Lincoln Financial Group is a financial services leader known for helping Americans take charge of their financial lives. With this latest addition to its marketplace, Policygenius is continuing its rapid growth trajectory in 2020 and expanding its accelerated underwriting life insurance options, which enable eligible customers to secure life insurance without a medical exam.
"We've always been focused on helping people get financial protection right, and making the insurance purchasing process as easy and convenient as possible," Jennifer Fitzgerald, CEO and co-founder of Policygenius, said. "We're thrilled to launch this new life insurance offering from Lincoln Financial Group that incorporates a streamlined process, making it even simpler for American families to get the financial protection they need."
Lincoln TermAccel® offers life insurance protection for 10-, 15-, 20- or 30-year terms with coverage amounts from $100,000 to $1 million, so consumers have the flexibility of multiple options. With a streamlined, digital-first application process, eligible customers can secure coverage within just a few weeks without a medical exam.
Since its founding in 2014, Policygenius has grown rapidly to become the second-largest term life insurance broker in the U.S., and has helped more than 30 million people shop for insurance. Earlier this year, Policygenius announced the launch of Brighthouse SimplySelect, a new Brighthouse Financial term life insurance product currently available exclusively online through Policygenius. With today's launch of Lincoln TermAccel®, Policygenius is expanding access to accelerated underwriting life insurance at a time when taking an in-person medical exam is of concern to many, given social distancing guidelines.
No-exam life insurance options feature a fast and simple purchase process that doesn't require invasive testing. With the accelerated underwriting options available through Policygenius, eligible customers can secure coverage quickly, safely and at competitive prices — all without a medical exam.
"Especially with the uncertainty brought on by recent global events, we know how important it is for families to feel financially secure and taken care of," Fitzgerald said. "Today's launch is another milestone on our journey. As we look ahead, we're excited to continue our mission of helping people get financial protection right."
Policygenius has seen rapid growth in 2020, starting the year by announcing a $100 million Series D round in January. In addition to expanding its foothold in accelerated life insurance products, Policygenius recently announced its first mobile app and expansion into digital estate planning.
Policygenius is the nation's leading online insurance marketplace, with headquarters in New York City and Durham, North Carolina. We've helped more than 30 million people shop for all types of insurance like they shop for everything else — online — and have placed over $60 billion in coverage. Policygenius launched in 2014 and is one of the early insurtech pioneers. Policygenius launched wills and trusts through a new mobile app in 2020. Policygenius was named to Forbes' list of Best Startup Employers (2020), Crain's Fast 50 (2019) and Inc. Magazine's Best Workplaces (2018, 2019, 2020).
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