Octopus Legacy has partnered with Shepherds Friendly to launch its new life-insurance proposition aimed at addressing the widespread lack of estate planning in the UK.
According to recent data published by the estate planner, more than half of adults (54%) have no life insurance, including 43% of people who have both children and a property.
Among those under 35, that figure rises to more than two-thirds (68%).
“Partnering with Octopus Legacy to develop its new life-insurance proposition has been a genuinely rewarding experience.
“We’re excited to see it brought to life by a team that truly puts people first,” said Dan Simpson, chief innovation officer at Shepherds Friendly.
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To ensure transparency in disclosure, Octopus Legacy has focused on clear questions and conversational phrasing throughout the application journey.
Innovative technology renders the process seamless and user-friendly, removing traditional barriers to insurance such as medical examinations and lengthy paperwork.
Customers can also choose to add on Life Insurance Plus to access Octopus Legacy’s estate planning services as well as its bereavement concierge.
Sam Grice, CEO of Octopus Legacy, added: “Life insurance feels complex or distant, so we wanted to make it quick, simple and human.
“With its member-first approach, Shepherds Friendly turned out to be the ideal partner to help us design something centred on customers’ needs.
“Policies can be set up online in minutes, giving people immediate peace of mind, and access to our bereavement concierge service means customers can support their families financially and also practically and emotionally.”