Prudential set itself apart from other insurers by swiftly releasing an updated version of its existing white paper for same-sex couples after the landmark Obergefell v. Hodges Supreme Court decision legalizing same-sex marriage. Prudential provides a topical Financial Planning for LGBT Couples After U.S. v. Windsor and Obergefell v. Hodges (PDF) white paper addressing how the ruling affects financial decisions such as workplace benefits, healthcare, social security and taxes. The firm originally promoted its white paper in March 2014, and another updated version in January 2015.
The whitepaper is hosted on a dedicated Financial Planning for LGBT Couples After U.S. v. Windsor and Obergefell v. Hodges page, which contains an embedded video from last March and A Post-Windsor, Post-Obergefell Checklist (PDF). The checklist provides a summary of the white paper information for same-sex married couples. In addition to the white paper, Prudential provides a dedicated The LGBT Financial Experience page that highlights key findings from its LGBT Financial Experience 2012-2013 Research Study. This page also features a video and infographic related to the research, and illustrates the firm’s continued efforts to address LGBT clients and prospects.
Prudential Financial Planning for LGBT Couples After U.S. v. Windsor and Obergefell v. Hodges Page
Prudential is committed to engaging with multicultural consumers, women and millennials. When CI attended the LIMRA conference in March, our reps were able to hear Mark Hug, Chief Marketing Officer at Prudential Financial, speak to this issue. Hug emphasized the need for insurers to address these markets in order to stay relevant, and the importance of treating customers well. Insurers in particular have more information on their clients than most industries do, but often fail to use that information to endear themselves to their clients. Insurers, for example, can use these resources to provide their clients with relevant materials. It is important that insurers respond not only to legislative decisions in a timely manner, but also to demographic changes in the market. As same-sex marriage rates will grow, and the minority population in America is predicted to more than double by 2060 (US Census Bureau), insurers must continue to provide marketing and educational materials addressing these statistics in order to stay relevant.