As more consumers look for financial advisors who can provide comprehensive, tech-enabled services, offering estate planning is quickly shifting from “nice-to-have” to “must-have.” Advisors who incorporate services like LifeLegacy not only stand out but also position themselves as true fiduciaries who care about their clients’ total financial picture.
Financial advisors affiliated with broker-dealers, IMOs, FMOs and other marketing organizations are always on the lookout for tools that provide a competitive edge. In today’s digital age, technology not only streamlines operations (think the elimination of “not in good order” (NIGO) applications), but also enhances the overall client experience, leading to deeper relationships and greater lifetime value.
Why should financial advisors offer an online estate planning suite to clients? Here are a few key reasons to consider offering this valuable tool from LifeLegacy:
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64% of all Americans think having a will is important, but only 32% actually have up-to-date documents in place. This gap represents tens of millions of people with good intentions who have not acted to protect their families from the potential confusion, heartache, and turmoil that inevitably occurs when wills, beneficiary designations, and a rudimentary listing of financial and other accounts are not in place. Can American companies and organizations take steps to help close the gap?
Employers are increasingly looking for holistic benefits to attract and retain talent. Including estate planning as part of an employee benefits package is a logical next step. It’s a highly relevant offering that aligns with employees’ long-term financial wellness goals. Online estate planning platforms can partner with benefits brokers and large companies to provide scalable solutions that make estate planning accessible to millions of workers.
LinkedIn Twitter Facebook The demand for accessible and affordable estate planning has never been greater. With an aging population and an estimated $84 trillion wealth
Fraternal life insurers have long been champions of serving specific communities with tailored insurance products and services. Rooted in a tradition of mutual support and shared values, these not-for-profit organizations are uniquely positioned to further deepen their relationships with members by addressing broader financial security needs. One essential service that complements the mission of fraternals is estate planning, including a will, advance health directive and financial power of attorney. Simple online estate planning platforms like LifeLegacy offer fraternal insurers an opportunity to provide a meaningful complementary service that dovetails perfectly with the protection of life insurance and annuity product while fostering loyalty and engagement.
In today’s digital age, nonprofits are increasingly turning to innovative solutions to ensure their long-term financial stability. According to the 2024 Nonprofit Digital Investments report sponsored by NTEN and Heller Consulting, “Fundraising and Financial Stability” is a significant area of higher focus for 66% of nonprofits.
Despite technological advancements like automated underwriting and attractive user experience (UX) platforms, life insurance products, especially term products, are still perceived as commodities by agents and luxuries by consumers, particularly during inflationary times. To overcome these variables, more effectively reach the mass market and make the sales and purchase of life insurance more compelling, life insurers should add complementary products that enhance the overall value proposition to agents and consumers. One smart choice is bundling life insurance with online estate planning. Let’s explore how life insurers can benefit from this strategy, backed by statistics on the current state of Americans’ life insurance and estate planning coverage.
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