nowly

Nowly is a direct-to-consumer life insurance carrier operating as a wholly-owned digital brand of Teachers Life Insurance Society, a Canadian fraternal insurer founded in 1939. Launched in April 2022, nowly targets Canadian consumers with simplified term life insurance products delivered through a fully digital platform that requires no medical exam for approved applicants. Coverage amounts reach up to CAD 1,000,000 across renewable and non-renewable term options (10, 15, 20, 25, and 100-year terms), with premiums starting from CAD 1.25/week for eligible applicants.

The platform is built for speed and accessibility, combining instant online application, simplified underwriting, and a 30-day money-back guarantee. Nowly operates a white-label distribution platform called SmartLife, enabling distribution partners such as OTIP (Ontario Teachers' Insurance Plan) to offer members digital life insurance products. Integration partnerships with ManageMy and Breathe Life extend the member wellness ecosystem.

Nowly operates on Teachers Life's capital and balance sheet, with no separate venture funding. The parent company (Teachers Life) is the largest insurer for education workers in Canada and has operated for over 80 years. Nowly supplements its insurance products with member benefits under the Flourish+ program, including an annual CAD 100 healthy living rebate, scholarships, and access to Virgin Pulse health programs.