Nuula releases Term Life Insurance for small business owners, entrepreneurs

TORONTO, Aug. 4, 2022 /PRNewswire/ -- Nuula, a fintech company focused on providing small businesses the tools and the capital they need to succeed, today announced a new Term Life Insurance feature from an A-rated (Excellent) carrier, powered by Walnut. The term life insurance provides Canadian small business owners and entrepreneurs with coverage up to $1MM starting at just $10/month.

Nuula announced its launch in Canada in June, where it set out to revolutionize how Canadian small business owners monitor their business performance and access a range of financial products, including Wealth Management services from OneVest and a Corporate Credit Card from Caary Capital. Today's news expands Nuula's portfolio of small business financial tools as it builds the first super app for small business.

"Peace of mind for a small business owner not only includes the health of their business but of the long-term wellbeing of their family," said Mark Ruddock, CEO at Nuula. "To be the app that every small business owner wants to use, Nuula needs to serve the widest range of small business needs as possible. Providing world-class life insurance represents another step along that path."

"We are proud to again provide Nuula with a new integrated feature, adding to its growing list of products and services it provides to small business owners," said Derek Szeto, co-founder and CEO of Walnut. "With its new Term Life Insurance feature, small business owners can gain access to a reliable, A-rated carrier within minutes."

Starting today, Nuula users will be able to sign up for Term Life Insurance from RBC Life Insurance Company through Walnut in all provinces in Canada except Quebec, and New Brunswick.

Nuula is building the future of small business performance. Launched in 2021, Nuula is a financial services and technology company focused on serving the small to medium-sized business community. Nuula provides real-time data and analytics, allowing businesses to manage their finances, monitor their credit ratings and user reviews, and more. Nuula is an advocate of financial inclusivity and a proud partner to Kiva to create economic and social good. To learn more about Nuula, visit www.nuula.com.

Founded in 2020, Walnut is a Canadian and US insurtech that has built infrastructure to enable multiple lines of embedded insurance for brokers, employers, and financial services coupled with value added benefits from international brands. Walnut's platform makes insurance simple and convenient – creating greater accessibility for underserved audiences. Learn more about Walnut at www.gowalnut.com/businesses.

SOURCE Nuula