Life Insurance Firms Are Not Feeling the Love

by on Feb 14, 2018

February, when love is foremost on many Americans’ minds thanks to Valentine’s Day, is the ideal time to associate life insurance with love. Recent research reveals that 41% of Americans own no life insurance, while 39% wish their spouse or partner would purchase more, indicating a clear opportunity for life insurance providers. Surprisingly, out of the nine advisor sites that industry research service Life Insurance Monitor tracks, only three currently take advantage of this opportunity.

Helpfully, industry organization Life Happens creates and coordinates an Insure Your Love campaign every February to promote life insurance as a purchase made out of love to protect family members and loved ones. The organization crafts a suite of resources that includes videos, social media graphics, emails, flyers and logos. The downloadable materials highlight the deep bonds between family members and discuss the importance of helping and protecting them, making life insurance a logical purchase since it protects loved ones in the event of a tragedy. Life insurance providers can easily leverage these ready-made resources on their advisor sites and should encourage advisors to use them in discussions with clients and prospects.

Below is a summary of the three tracked firms currently promoting Insure Your Love and related materials:

  • Principal updated its advisor site homepage banner to promote new Insure Your Love marketing materials. The banner leads to a dedicated Insure Your Love page that organizes the materials by resource type. Principal stands out for offering the full suite of materials created by Life Happens. The firm also promotes the new materials in an article added to the advisor site News page.

Principal Advisor Site Homepage Insure Your Love Promotional Banner Image

  • John Hancock debuted an advisor site Insure Your Love page that displays images advisors can download for use on social media.

John Hancock Advisor Site Insure Your Love Page (Truncated)

  • While AXA fails to incorporate Insure Your Love materials on its advisor site, the firm does get in the Valentine’s Day spirit marketing its new IUL Protect product. The product launch announcement features a pink color scheme with hearts and the slogan “More to love.”

AXA Advisor Site Homepage IUL Protect Promotional Banner