After raising $120 million in a Series C fundraising round led by Dai-ichi Life Insurance Company, the UK-based insurance company YuLife is poised for global expansion.

YuLife's life insurance product allows policyholders to do ordinary wellness activities to earn YuCoin, which they can use to purchase gifts for themselves, friends, and family, or to better the world by planting trees and donating to charity.

Over a third of YuLife clients interact with the company on a daily basis, compared to once a year for the average insurer, and 87 per cent of YuLife customers perceive an improvement in their health as a result of having YuLife as their insurer.

The organization now insures over $50 billion for more than 500,000 customers, ranging from small to major businesses.

It will use the funds to expand into new worldwide markets and expand its product line.

Sammy Rubin, CEO of YuLife, explains,

"Unusually for financial services, our offering generates a profound alignment of interests among the insurer, the business, and the individual.

We think that well-being must be holistic, and we are committed to establishing a worldwide financial services brand that can improve the lives of millions of people around the globe.