Digital technology has transformed nearly every industry. Many of these industries have already adapted their models to ensure future success. However, for life insurance advisors, the two primary ways of delivering policy documents – via paper or electronically – have remained the same for many years. 

A more expansive digital transformation has finally arrived for the life insurance industry. The new alternative? Digital legacy planning via file sharing and storage.  

Digital storage provides policyholders with a convenient, secure way to save and transmit important files for the future as well as other significant capabilities. Life insurance agents who embrace this new technology stand to reap significant rewards for their clients and their business.

Why digital planning is the future of life insurance

Nowadays, an advisor sending paper documents or PDF files via email is no longer enough. In today’s tech-driven world, clients want a more interactive experience where they can monitor their policies and confirm important documents are not lost. That’s why life insurance agents need to store and share insurance policies on a shared platform. Firstly, plans that are digitally stored on a shared platform are much easier for the client and advisor to locate. In addition, life insurance agents can help guide clients when needed.

When planning for the future, clients are likely willing to provide their loved ones with an extra level of comfort after their passing. When individuals digitally store important documents – such as a will, bank account information, or property records – they can allow others access to them any time before or after their passing. 

The time immediately after losing a loved one is extremely difficult. Placing every important document in one central location can drastically improve the processes that take place.  

Communication central

A proven benefit to the digital model is the constant line of communication between all parties. Advisors can share documents with clients at any time. Once reviewed, the documents can live on the platform forever. If clients choose, they can contact the advisor directly on the site. Additionally, any persons clients have allowed will have access to the documents. 

Legacy memory capsule 

The future of life insurance is not confined to wills and legal documents. As our lives become more scattered across various online platforms and devices, it’s hard to remember everything. Then, after a loved one’s passing, the family finds it difficult or even impossible to access important photos, videos, and sentimental documents. 

When that happens, these precious family memories are lost forever. 

With a digital legacy planning and storage platform, clients can save traditions, life lessons, and memories. Similar to a virtual scrapbook, the digital platform can serve as a hub for photos, recipes, and stories. These personal details are just as important to their legacy as their legal documents. Not to mention, your clients’ treasured memories are preserved and accessible to their families.

In 2020, our entire world “lives” online and is available via smartphone. So, why shouldn’t accessing the things that truly matter most be just as easy? Learn more about how a digital platform can preserve clients’ memories and build a stronger client-advisor relationship by visiting our blog, YOUR CLIENTS’ LEGACIES ARE MORE THAN NUMBERS.

Dan Pierson

Dan Pierson

Dan Pierson is an insurance industry veteran, having run several insurance businesses and eventually selling a nationally recognized life insurance general agency. Dan started LegacyShield to help other insurance advisors grow their practices by focusing on the consumer experience.

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