Nuula, a fintech company focused on providing small businesses the tools and the capital they need to succeed, today announced a new Term Life Insurance feature that provides small business owners and entrepreneurs with coverage options from a network of top carriers, powered by Even Financial (“Even”), a leading embedded finance marketplace platform, and independent subsidiary of MoneyLion Inc. (“MoneyLion”) (NYSE: ML). Through the Nuula app, users will now be able to shop, compare and buy Term Life Insurance, with policies up to $5MM in coverage and terms of 10-40 years.
The policies in Nuula’s new Term Life Insurance feature are generated and serviced by LeapLife, an insurtech platform and licensed life insurance agency, that is owned and operated by Even.
“While small business owners and entrepreneurs are investing in their business, they also need to more easily invest in themselves and in the security of their loved ones,” said Mark Ruddock, CEO at Nuula. “Adding Term Life Insurance further expands the range of services we are delivering to meet the diverse needs of today’s small business owner.”
“Policyholders want a simpler way to shop around, compare policies and prices, and find a policy that is right for them,” said Andrew Naoum, SVP of Sales at Even. “By partnering with Even, Nuula’s small businesses are provided with a curated network of carriers rated A- and above by AM Best, world-class customer support and a search feature that matches people with the right policies and lowest available prices when and where they need it.”
Today’s news follows the launch of a new personal loan search feature aimed towards early-stage small businesses, powered by Even.