
Making life insurance accessible for all: Behind the Business with Everyday Life, Inc.

(Getty Images)
Making life insurance accessible for all
Headquartered in Boston, Everyday Life, Inc.’s mission is to simplify shopping for life insurance and make buying a policy easy and affordable for the average person. Everyday Life, also known as Everyday Life Insurance, was founded in 2018 by Jake Tamarkin, the company’s CEO, and Dipali Trivedi, the company’s CTO.
The idea to create Everyday Life Insurance came to Tamarkin when he purchased a life insurance policy. “The catalyst for all of this was when I personally went to go buy some life insurance for myself, and I found it excruciatingly difficult. I had a very clear idea on what I wanted and needed. And it seemed very straightforward to me. But the traditional brokers and insurance companies weren't really very helpful in making it happen. It ended up taking me over six months. It cost a lot more than what they had initially projected for me, and I felt like I was held hostage by their process the whole time. That was really a rude awakening for me. Having been involved in the industry for 20 years, it was quite embarrassing. I felt foolish that I had spent so much time in the industry at the highest levels of it and was completely blind to how painful it is for the people we're trying to serve to get their needs met,” said Tamarkin.
The seasoned insurance executive wondered—if purchasing life insurance was difficult for him, how do everyday people fare? “And when I started looking at it, it was quite disturbing to see that ownership of life insurance among households that make less than $100,000 has fallen by 25 percent in the last ten years. I couldn't believe that it wasn't a subject of bigger conversation in the industry.” Tamarkin realized that his insurance industry colleagues were also blind to this problem. “When I saw this problem in the market, I decided to solve it.”
While Tamarkin was in the early stages of planning what would become Everyday Life Insurance, he met Trivedi who has a deep technology background. Coincidentally, she experienced a similar situation when trying to purchase life insurance for her family. “We bonded over that and decided to start this company. We based all our actions on what we learned as consumers trying to buy life insurance. And so, we started building what we thought would be some helpful tools and started testing them in the market,” said Tamarkin.
Today, Everyday Life Insurance is a fully licensed insurance brokerage. The website features an “Ultimate Life Insurance Calculator,” which helps consumers make informed decisions about buying life insurance. Tamarkin shared more about the calculator. “We built a recommendation engine that lets consumers quickly and easily analyze their needs and get a recommendation for the right type of product, the underwriter to get it from, and an estimate of the cost. Anyone visiting our website can get that information in about three minutes without even providing any contact info. And if they want to move forward, then they can just buy the policy we recommended online through our platform, which takes just a few minutes more. So, the service we really provide is—in a world where there are thousands of life insurance products from over 700 life insurance companies, we've taken our market knowledge and our technical expertise to help consumers make quick sense out of that crazy landscape to find something that is suitable for their needs, and they'll actually get approved for, and they can actually afford.”
Also, Tamarkin said that Everyday Life Insurance is growing rapidly and believes the company will expand into other areas. “We see a lot more opportunity. There are 85 million households that the life insurance industry has ignored, so we haven't hit all of them yet, but our vision is to do that. So, we've got a lot more opportunity and a lot more work to do to get there. But in addition to that, what we're discovering is that a lot of these people have a lot of other financial services needs that have not been well met by the industry. And so, we see an opportunity to expand our range of services to start helping our customers in other ways too.”
For more information about Everyday Life, Inc., check out their BBB Business Profile. To learn more about BBB and read more stories like this, visit Behind the Business Stories with BBB in Eastern MA, ME, RI & VT.
Grow Your Business with BBB Membership & Business Solutions
As a matter of policy, BBB does not endorse any product, service or business.
Related News
Still Need Assistance?
Contact Your Local BBB
Your local Better Business Bureau can assist you with finding businesses you can trust. Start With Trust®.
Additional Resources
Let BBB help you resolve problems with a business
Research and report on scams and fraud using BBB Scam Tracker
Learn more about the value of BBB Accreditation