From Uninsurable to Protected: How One Mom's Story is Changing Banking

"Wait. This has personal relevance to me. I'm a double-amputee cancer survivor and single mom. I cannot buy life insurance anywhere. Are you saying that I can get some life insurance for my family with this?" 

This comment, shared during Wysh research with customers and partners about financial protection needs, didn't just provide market feedback – it changed the trajectory of a company and sparked a movement for financial inclusion. 

Wysh, a new digital insurance company, had been researching how to make financial protection more accessible to Americans*. A survey explored interest in a revolutionary concept: life insurance that would come automatically with a savings account, available to anyone under 65, regardless of health history. 

"That mother's comment hit us hard," says Alex Matjanec, CEO of Wysh. "We were exploring market opportunities, but her words transformed this from a business initiative into a moral imperative. Here was someone doing everything right – working, saving, raising her family – but the traditional system had no place for her." 

The research led Wysh to create Life Benefit, an innovative solution that embeds life insurance protection directly into bank accounts. It works simply: when you save money, you automatically get life insurance equal to a percentage of your savings, up to $20,000. No medical exams. No health questions. No rejections based on pre-existing conditions. 

But for Wysh, Life Benefit was just the beginning. "As we saw the impact of embedded protection, we realized we had a bigger responsibility," explains Matjanec. "We needed to create systemic change in how the financial system serves everyone." 

That vision takes shape with the launch of the National Alliance for Financial Literacy and Inclusion (NAFLI), an independent nonprofit with Wysh as its founding partner. While Wysh continues innovating embedded insurance products, NAFLI will tackle broader challenges of financial inclusion through education, partnerships, and advocacy. 

“It's hard to ignore the numbers,” shares Amanda Estiverne-Colas, board member at NAFLI. “Over 106 million Americans lack adequate financial protection and security. These statistics represent real families, each just one unexpected event away from financial hardship. 

Jim Perry, a veteran banking innovation expert and NAFLI board member, sees a critical opportunity for change. "For too long, basic financial protection has been out of reach for many. Through NAFLI, we're working to ensure every family has access to the tools they need to build a secure future." 

NAFLI's immediate focus is partnering with financial institutions to help them offer resources, support, and innovative embedded solutions to help them better serve their communities. 

"What started with one mother's powerful comment has grown into a movement," reflects Matjanec. "Through Life Benefit, Wysh proved that accessible financial protection is possible. Now, through NAFLI, we're working to make it universal." 

For the mother whose comment sparked this revolution, and millions like her who've been turned away from traditional insurance, NAFLI's launch represents hope. Her story is a reminder that sometimes the most powerful innovations come not from market research, but from hearing and responding to the real, human needs that often go unspoken. 

To learn more about bringing inclusive financial protection to your community, visit www.nafli.org 

*Wysh Life and Health Insurance Company. Life Benefit Market Surveys. 1,141 participants total. Conducted April 20th, 2023