September 2016 – Life Events Education

Life insurance is of varying importance to prospects depending on their stage in life. As prospects navigate through events like marriage, career changes and childbirth, it is imperative that firms educate them on the accompanying financial planning decisions that come with each of these major motivations for life insurance protection. Framing educational information through life events allows firms to offer the necessary context so that prospects can ascertain how life insurance fits into their personal financial plans. This report analyzes the life events education provided on the public sites of 8 Life Insurance Monitor firms, with a close examination of the extent and type of resources offered. We also take into account how firms market their life events with life insurance product specifics.

Life Insurance Monitor firms use a broad range of life events to illustrate the need for life insurance. We found the most popular life events covered by firms were marriage, children and loss of a loved one, each of which were addressed by 88% of firms. The vast majority of firms devote dedicated pages to each of these life events, with additional educational resources that vary and can include videos, brochures, guides and access to a life insurance needs calculator. Firms generally take advantage of the opportunity to present life insurance as a solution, but only half of firms provide links to product pages for specific information and even fewer provide direct product recommendations. Firms ought to take advantage of life events sections to educate prospects on their financial planning needs and equip prospects with information on how life insurance forms an integral part of their plan at that particular stage.