Meanwhile Launches First Fully Bitcoin-Based Life Insurance Carrier

Bitcoin-based life insurance — Bermuda-based firm Meanwhile has become the world’s first fully licensed life insurance carrier to operate entirely on the Bitcoin standard, holding its capital and paying out policies in the cryptocurrency.

Danny Baer, Head of Revenue & Investments at Meanwhile, explained the model in an interview with Bitcoin Magazine. The company holds its entire regulatory capital in Bitcoin and issues policies denominated in BTC, meaning a policyholder paying a 10 bitcoin premium could see a beneficiary receive 15 or 20 bitcoin tax-free upon a claim.

Baer argued that traditional insurers, burdened by legacy systems and fiat currency exposure, cannot compete with this Bitcoin-native structure. The model’s long-term liability horizon, spanning decades, positions life insurers as a source of “permanent capital” for the broader Bitcoin economy, he said.

The venture has attracted backing from notable investors including Apollo, Bain Capital Crypto, Northwestern Mutual, and OpenAI CEO Sam Altman. Meanwhile secured its operating license from the Bermuda Monetary Authority, pioneering a new asset class within the $20 trillion global life insurance industry.