Education industry-focused fraternal insurer Teachers Life has announced that it has entered a significant partnership with Greenstone.
A multinational provider of direct life, income protection, funeral, and pet insurance brands, Greenstone recently made its debut in the Canadian market. The manufacturing partnership allows Teachers Life to offer Greenstone’s new brand FiftyUp to its members.
Launched earlier this year, FiftyUp is a brand designed for Canadians over 50 years old. Its first product, FiftyUp Final Expenses Insurance, is a guaranteed acceptance product for individuals aged 20 to 80. It offers a lump sum payout of up to $25,000 to loved ones for any final expenses.
According to a release, by diversifying into new markets and entering into strategic partnerships such as Greenstone, Teachers Life is “well positioned” to continue its growth and better serve its members.
“There are a few compelling characteristics that make Greenstone an ideal partner for Teachers Life,” said Teachers Life president and CEO Kayte Fredrickson. “Like Teachers Life, Greenstone is focused on its communities, including its customers and teams, as well as continuous innovation in the service of providing financial protection to customers and their families. We are delighted to partner with them as they enter the Canadian market.”
Last September, nowly – the digital life insurance subsidiary of Teachers Life – announced the first recipients of its accelerator program for social entrepreneurs. The company provided a total of $50,000 of seed funding to six promising projects.
