Eleos Life has introduced a game-changing digital-first term life insurance product in the United Kingdom, aiming to make financial protection more simple, accessible, and affordable for all. In an effort to close the life insurance gap, Eleos is targeting a wide range of individuals, particularly those who have traditionally lacked access to personal insurance.
Addressing the Life Insurance Gap in the UK
According to the Financial Conduct Authority (FCA), only 28% of UK adults have life insurance, leaving a large portion of the population without financial protection, particularly in the event of unexpected expenses or the loss of a primary earner. This gap is especially concerning for families who don’t have a clear plan for handling such life-altering situations.
Eleos aims to change this by integrating life insurance directly into apps and platforms that people already use regularly. The company recognizes that personal insurance adoption is low in the UK, with many people only exposed to life insurance through mortgage or employment benefits. Eleos is challenging traditional insurance distribution by embedding its product into everyday financial services, such as apps for renters or gig workers, where insurance is most needed.
Eleos’ Unique Digital Life Insurance Offering
Unlike traditional insurance policies, which often come with lengthy paperwork and convoluted processes, Eleos offers a fully digital and customizable life insurance policy. Here are the key features of the new product:
Affordable Protection: Coverage starts at just £5 per month, making it accessible to a broad audience.
Flexible Terms: Policyholders can choose policy terms ranging from 5 to 20 years, with coverage amounts from £5,000 to £250,000.
Straightforward Coverage: The policy pays a lump sum in the event of death or terminal illness (with diagnosis of ≤12 months to live).
Fast Application: The process requires as few as five questions, all completed digitally within minutes—no phone calls or paperwork involved.
Wellness Perks for Immediate Value
What sets Eleos Life Insurance apart from traditional life policies is the added value it provides immediately—even before a claim is made. In addition to standard life cover, Eleos includes wellness perks at no extra charge. These include:
GoGP: Access to general practitioner (GP) services for convenient medical consultations.
Mental Health Counselling: Support for mental well-being, addressing one of the most pressing health concerns today.
Physiotherapy: Physical therapy services to help maintain or recover health.
New Wellness Features for UK Policyholders
Starting this month, Eleos has introduced two exciting new perks for UK policyholders:
LiveSmart: A wellness program designed to improve physical and mental well-being through expert guidance and resources.
The Body Coach App: Access to fitness plans and health tracking from one of the UK’s top fitness experts, helping users maintain an active and healthy lifestyle.
Empowering Brands and Individuals
For individuals, Eleos provides an easy-to-use, fully digital life insurance experience with affordable pricing and flexible coverage options. For brands, Eleos offers a new revenue stream by partnering with companies to embed its life insurance product into existing services. Whether it’s for renters, gig workers, or other segments, Eleos aims to make financial protection more accessible to those who need it most.
By combining affordable insurance with wellness perks, Eleos is transforming the way life insurance is delivered, providing not just protection in case of death but also ongoing value through wellness support.
A Modern Approach to Life Insurance
Eleos’ innovative approach to life insurance marks a shift towards digital-first, user-friendly insurance solutions that integrate seamlessly into the digital lives of modern consumers. With its focus on accessibility, flexibility, and additional wellness benefits, Eleos is setting a new standard for how life insurance should be experienced in the UK.
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