Editor’s note: This press release first appeared here.
Everyday Life, an insurance platform on a mission to get life insurance to everyone who needs it, is partnering with Independent Financial Partners (IFP) to bring its innovative life insurance solution to IFP’s Institutional Services group network of community banks and their customers. The new insurance offering will support the banks’ initiatives to improve the financial health and resilience of their retail customers, forging deeper relationships with them.
There are an estimated 102 million uninsured and underinsured Americans, according to the insurance industry research firm, LIMRA. Up to now, insurers have been challenged to find ways to sell affordable policies to families with average incomes. Everyday Life is the first company to offer an end-to-end platform that saves customers money, time and hassle with personalized recommendations and life insurance plans that bank customers can purchase directly. The platform’s proprietary Predictive Protection technology is plug-and-play, making it simple for banks to offer expert financial planning services without adding personnel or licensed insurance agents. The Everyday Life platform will complement the service offering across the IFP network of banks and credit unions.
“Covid made many more Americans aware of the need for life insurance coverage, and more moderate income families want to protect their loved ones. The Everyday Life platform will enable community banks to lean into their mission to serve their people in the way in which they expect: seamless, digital experiences that are purpose-built to enhance their customers’ financial well-being,” says Jake Tamarkin, CEO, Everyday Life.
“Community banks are looking for ways to offer consumer-centric solutions that are delivered digitally, now that more customers are banking digitally. This partnership with Everyday Life helps banks remain relevant to their customers,” says Dan Overbey, Divisional President, Institutional Services, IFP. IFP is rolling out the Everyday Life offering now.
About Everyday Life
Everyday Life is a life insurance platform for people who want to be smart with their money and protect their families but think life insurance is too complicated, expensive and they don’t know who they can trust. Everyday Life is changing that paradigm by making it easy for every family to get exactly the right amount of coverage to fit every stage of their lives. Predictive Protection technology builds personalized policies that save people money by fitting the coverage to their lives and adjusting as needed over time. The company is on a mission to make life insurance accessible to everyone who needs it. Everyday Life was founded in Boston, Mass in 2018, and is backed American Enterprise Ventures, Financial Health Network, Global Insurance Accelerator and Techstars.
About Independent Financial Partners
Tampa-based Independent Financial Partners is an independent broker dealer, registered investment advisory firm and insurance agency. With a national footprint, IFP manages >$12.0 billion in client assets across retirement plans, securities, and advisory accounts.
IFP Institutional Services was formed to work with financial institutions and other financial aggregators to provide consulting, program administration, or distribution services. Today, the firm works to bring transparency and fair pricing to the financial institution channel through customized solutions, leading edge technology, recruiting and operational support.
