June 2016 – Life Events Education

Firms need to provide clients with a full picture of their financial planning needs. By framing education through life events such as career changes, marriage, having children and emergency planning, firms ensure that prospects and clients gain the necessary context to understand their changing financial needs. Through educational resources focused on key life events, clients can ascertain the impact of these life changes on financial planning. In this report, we analyze the life events education provided by 12 Annuity Monitor firms, with an emphasis on the extent and type of resources provided. We also closely examine how firms market their life events with product recommendations and context that illustrate the importance of financial planning.

Overall, firms adequately use life events to frame educational content and look at a broad array of moments. Inheritance is the most popular life event, addressed by 83% of firms. Other commonly addressed life events include new jobs, having children, college planning, general saving/budgeting and emergency planning. While all firms analyzed in this report offer some life event content through educational articles, firms stand out for offering pages dedicated to each specific event that are enhanced with embedded videos, tools, downloadable resources and, most importantly, access to product solutions. Although 58% of firms mention product types in the context of life events, only 33% promote annuities. Framing the need for an annuity within a life event and then offering prospects access to learn about annuity products is an important marketing opportunity that should not be overlooked.