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3 Big New Life Marketing Moves: Ethos, MassMutual, Foresters

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Ethos Technologies, a web-based life insurance broker, has formed a relationship that could help it do more business with financial institutions.

(Related: Robert Downey Jr., Jay Z, Durant Back Life Insurance Startup)

Franklin Madison Group LLC, a company that markets financial services to financial institutions, said earlier this week that it has agreed to offer the Ethos term life insurance program to its 3,500 financial institution clients.

Franklin Madison cited Ethos use of an automated system that lets consumers apply for life insurance in 10 minutes, with 99% not having to go through any additional medical testing.

Ethos has raised about $46 million in funding from a group of investors that includes Sequoia Capital, Accel, GV, Stanford University and Arrive.

In other life insurance marketing news:

LifeScore Labs, a Boston-based risk-scoring subsidary of Massachusetts Mutual Life Insurance Company, has introduced a risk-scoring tool for consumers: the MyLifeScore360 system.

The systems asks consumers to answer 10 questions about characteristics such as age, height, weight and smoking-status. The system then signs a consumer risk score ranging from 1 to 100.

The new system is a version of a system LifeScore Labs began offering to life insurers in 2018.

Consumers can use the new system free of charge. LifeScore Labs says it will give the users “the option to explore products aligned to their needs.”

LifeScore Labs says it plans to add a disability insurance scoring system and an accelerated mortality risk model sometime this year.

Foresters Financial put out a national press release on Business Wire to support Life Happens’ “Insure Your Love” life insurance awareness campaign.

The campaign ties the idea of protecting loved ones’ financial security to Valentine’s Day.

The company cited a survey indicating that 78% of Americans agree that protecting loved ones gainst financial risk is a way to show those loved ones that you care.

“This February, be sure to Insure Your Love by giving your family the gift of life insurance,” the company told consumers.

— Read Swiss Re to Use MassMutual Risk Scoring Tool, on ThinkAdvisor.

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