How Prudential Makes Long-Term Planning Tool More Compelling with Customization

Megan Rafferty by on Apr 10, 2017

Prudential’s recently launched Your Life. Visualized. tool supports financial planning with a unique level of personalization. After prospects enter information about their families, financial statuses and long-term plans, the tool generates a personalized timeline that estimates the costs of future life events. For prospects focused on day-to-day expenditures, long-term planning seems abstract, making it difficult to prioritize the value of products like insurance or annuities. The new tool offers an unmatched level of customization, allowing prospects to add photos, schools and other personal information. Its specificity promotes better planning by making long-term goals more compelling.

Add Photos and Names

The tool includes unmatched options for additional customization. Prospects can rename life events—changing “New Baby,” for example, to include possible baby names—and illustrate them with photos. The option to add photos is particularly noteworthy because photos of loved ones can add emotional resonance to a financial plan, making the importance of good choices more urgent.

Your Life. Visualized. New Baby Section

Choose Cities and Schools

Prudential offers unusually precise estimates of future costs by incorporating information about cities and schools. When prospects select a state and city in which to live during retirement, they can view a custom estimate of monthly retirement costs based on that location. As with other planning calculators, the tool also uses information from Peterson’s College Database to estimate tuition costs based on which college prospects select.

Personalize Timeline

The tool results appear in a customizable timeline that illustrates future plans. Prospects can view their age during each life event, such as sending a child to college, and adjust factors such as retirement age or length of insurance coverage. Each life event includes a wealth of additional options accessible directly from the timeline, allowing prospects to modify individual factors within the context of a larger plan.

Your Life. Visualized. Timeline Family Security Section

Save results

With the option to save and edit results, the Visualized tool can function as a key part of continued planning rather than a one-time estimate. This option reflects the level of personalization available: after spending time importing photos, renaming events and adding detail to their plans, prospects may understandably wish to save their work. Creating an account offers the option to revisit the tool as needs change and ensures that the time prospects invest in planning is well spent. It also benefits Prudential, which captures contact information and detailed descriptions of prospects’ assets and goals.

Online tools and calculators can engage prospects and support clients in making sound financial decisions. In some related blog posts, we analyze plan health tools for insurance clients, an interactive video for life insurance prospects and a Retirement City game for retirement plan participants.