Wysh Introduces High-Yield Savings Accounts with No-Cost Life Insurance to Support Underserved Communities

Wysh, a leading innovator in financial protection, has partnered with Helix by Q2 to offer a groundbreaking product that combines high-yield savings accounts with embedded micro life insurance. This initiative aims to provide insurance protection at no cost to underserved communities in the United States.

The new product, called Savings+, offers a competitive 4.00 percent Annual Percentage Yield rate and unlocks up to $10,000 in no-cost life insurance. Unlike traditional life insurance policies, Savings+ does not require medical underwriting, and there are no minimums, fees, or lock-ins. Account holders can enjoy the peace of mind that comes with knowing their beneficiaries will receive an additional 10 percent of the life insurance value on top of their savings account balance as a life insurance payout.

Alex Matjanec, the founder of Wysh, expressed his excitement about the launch of Savings+, stating that it expands financial protection to historically underserved individuals and communities. He emphasized that Savings+ is not just an account but a symbol of their commitment to providing financial security for all Americans. Matjanec also expressed gratitude for the partnership with Helix by Q2, which enables Wysh to bring this innovative product to the market.

Helix, a cloud-native core purpose-built for embedded finance, powers Wysh’s new life savings account. With over 14 million users nationwide, Helix offers a comprehensive suite of banking services, making it easier for innovative companies like Wysh to embed personalized financial experiences within everyday applications.

Ahon Sarkar, the general manager of Helix by Q2, highlighted their mission to serve the underserved and praised Wysh for making financial products accessible to everyone. Sarkar believes that Savings+ will be a game changer for account holders who cannot afford life insurance or seek extra security for their beneficiaries.

To learn more about Savings+, interested individuals can visit www.wysh.com/savings. For additional information on Helix’s empowering solutions for brands, fintechs, and financial institutions, visit helix.q2.com.

Wysh is dedicated to making financial protection products more accessible and is the marketing name for Wysh Life and Health Insurance Company (WLHIC) and Wysh Financial, LLC (WF). WLHIC underwrites the insurance products, while WF offers the savings products. It is important to note that WF is a financial technology company and not a bank, with banking services provided by nbkc bank, Member FDIC.

In summary, Wysh’s collaboration with Helix by Q2 brings forth a unique offering that combines high-yield savings accounts with no-cost life insurance. This initiative aims to provide financial protection to underprivileged Americans and redefine the meaning of financial security.