Walnut Insurance Launches the First Digital Term Life Insurance Membership for Millennials

Walnut Insurance, an technology company that is building a new era of transparency and accessibility around insurance, is offering the first life insurance membership with additional wellness subscriptions that are specifically designed to serve younger Canadians. In addition to offering individuals the ability to lock in competitive rates for 10-20 years, the membership provides embedded subscriptions that holistically protect Canadians’ wellbeing mentally, physically, and digitally through world-class businesses like Headspace, ClassPass and Dashlane. The membership approach flips the traditional life insurance model by providing a new level of ease and immediate value. This new model is specifically designed to engage younger demographics who may benefit from acquiring life insurance earlier, but are currently underserved in the market. Walnut’s membership provides consumers: Accessibility

• Digital-first platform
• Coverage with no medical exam required in most cases
• Quick and simple digital application that can be done within minutes

Value & Transparency

• Flexible pricing plans
• Ability to lock in a competitive price
• Distribution model designed specifically to serve younger Canadians
• Digital access to a collection of subscriptions at an accessible price
• Licensed agent available to answer any questions

“Traditionally, life insurance is thought of as being too expensive, hard to understand, and while offering future security to one's loved ones, it doesn’t provide any tangible value day-to-day,” said Derek Szeto, co-founder and CEO of Walnut. “We saw an incredible opportunity to not only change the way Canadians value life insurance, but to reach younger consumers that are not currently represented in the market. By taking a holistic approach to protecting one's wellbeing, life insurance becomes a part of a larger cohesive offering that provides tremendous immediate value - it’s a no-brainer for consumers.” Walnut’s technology platform has enabled a new era of insurance in Canada that is quick, simple and takes a holistic approach to one's wellbeing. Walnut currently offers memberships for cyber protection and term life insurance. In addition to their consumer platform, Walnut also provides API accessible insurance products through embedded solutions for brokers, employers, and other financial platforms and services.