Amplify Life Insurance teams up with EMC Life to unveil Prosper IUL, a permanent life insurance product and platform designed for digital-first consumers and agents

Associated Press

09-04-2025

SAN FRANCISCO, April 9, 2025 /PRNewswire/ -- Amplify Life Insurance, a leading digital platform revolutionizing wealth-building through permanent life insurance, and EMC Life, a provider of life insurance, have announced the launch of Prosper IUL ('Prosper'), an Indexed Universal Life (IUL) product designed to meet the needs of today's digital-first consumers.
Prosper reimagines how permanent life insurance is purchased where consumers can apply, qualify, and activate their IUL policy in as little as ten minutes. Through Prosper's end-to-end digital onboarding system, qualifying applicants receive an instant acceptance decision. The entire process takes place within a single, fully automated, consumer- and agent-friendly platform.
By simplifying and modernizing the purchasing experience, Prosper ensures that everyday consumers can access a wealth building life insurance vehicle that's often used by the high-net-worth segments and large institutions.
Amplify's mission is to help modern, digital-first customers address gaps in their financial planning, protect their families, and build multi-generational wealth. Delivered through a streamlined and engaging experience, Amplify's platform brings permanent life products to the younger mass-affluent market. By adding Prosper to its platform, Amplify is able to accelerate this mission by offering consumers options tailored to their preference—whether individuals choose to build their own plan or work with a licensed agent. This platform expansion also enables Amplify to provide ongoing value at key moments throughout a policyholder's lifetime. Prosper is the first IUL of Amplify's proprietary suite of products specifically designed to address diverse customer needs and use cases.
'We're thrilled to launch Prosper, in partnership with EMC Life. It expands our platform and product offerings, and enables us to better serve customers seeking long-term financial protection while setting the foundation for delivering ongoing value to them and their families,' said Lu Ma, Chief Operating and Strategy Officer for Amplify.
'Through our partnership with Amplify, a digital life insurance agency, we're offering a groundbreaking product and superior experience for customers,' said Paul Rivard, EVP – Chief Growth Strategy and Innovation Officer for EMC Life. 'This collaboration supports our mission to improve lives. Together, we've raised industry standards and created a solution that truly impacts people. We're excited to see the Prosper product fulfill consumer needs and our partnership grow.'
This launch represents more than just a new product, it's a strategic alignment between Amplify and EMC Life to drive innovation. This partnership underscores a commitment to delivering next-generation financial products that empower individuals to build wealth and secure their financial future through digital and hassle-free experiences. The collaboration between these two companies reflects a shared goal: to simplify purchase journeys, modernize customer experiences, and deliver insurance solutions that create real value for today's consumers.
About Amplify Life Insurance
Amplify is the first digital permanent life insurance platform offering customers direct access to products where you access tax-efficient investment returns and obtain lifelong protection. It's founded by serial entrepreneurs with industry and technology expertise looking to modernize the $1.1T permanent life insurance industry. Amplify provides an educational journey, product recommendation and quoting, and real-time pre-underwriting to help customers learn about plans and customize a policy for their needs. Launched in 2020, Amplify aims to help customers achieve health and financial wellness. Based in the San Francisco Bay Area, Amplify is open to all 50 states and has served thousands of customers.
About EMC Life
Based in Des Moines, Iowa, EMC Life is an affiliate of EMC Insurance. EMC Life offers quality life insurance products for the individual and workplace markets through independent agents and distribution partners.