Bestow, a life insurance technology firm, has formed a partnership with Equitable to launch a new digital term life insurance cover.

The new offering, called “Term-in-10”, leverages Bestow’s technology and is available through Equitable’s network of financial professionals.

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Customers can get in touch with Equitable’s financial professionals to get specific life insurance offerings and apply for it online. Once approved, the coverage begins immediately.

Bestow noted that the new offering does not require a medical exam and offers coverage of up to $1m in 10, 15 and 20-year term lengths.

Bestow co-founder and CEO Melbourne O’Banion said: “As one of the most respected life insurers in the industry, Equitable is the ideal first enterprise carrier partner for us at Bestow. We came together because of our joint commitment to build innovative solutions that expand access to financial protection. We’re excited to deliver our unique product expertise and platform to Equitable Advisors, Financial Professionals and customers.”

The tie-up allows insurance carriers like Equitable Financial Life Insurance to leverage Bestow’s enterprise offering to develop and launch life insurance solutions.

Equitable Advisors chairman Dave Karr said: “There are substantial advantages to using a financial professional and life insurance agent who understands the specific requirements each client needs to protect their family and provide them with a comprehensive financial strategy. We’re excited about the relationship with Bestow as it allows us to provide a better more efficient experience for our current and prospective clients.”