As a modern life insurance coverage agency, Haven Every day life is committed to hearing its customers, after which incorporating that feedback into its plans for future years. Case in point: Earlier this year, Haven Life asked people several key questions, which resulted in a deeper knowledge of what prospective customers need and wish to help foster a more meaningful relationship using their agency. Now, only seven months later, Haven Life features Plus, an innovative rider that gives policyholders access to additional benefits, just like a digital will and an online safe deposit box, free of charge.
More information about the new Plus offerings, combined with the learnings from this research, is below. So sit back, relax, and peruse these bits of information from the leading edge of insurance research.
The Plus rider is included within the Haven Term life policy issued by Massachusetts Mutual Life insurance coverage Company (MassMutual).
1 in 3 respondents doesn't have a death plan. Nearly half do not have a will in position.
Our study also discovered that, among those that do not have a will, getting one isn't a priority-nearly 80% of adults without a will don't have one because they hadn't gotten around into it yet, while another 13% stated they didn't understand how to get one.
So that's the not so good news (considering pretty much every adult should have a will). But, here's the good news: If you have put life insurance protection into place having a Haven Term policy, the new Haven Life Plus rider includes a digital will for you and your partner free of charge from Trust & Will. This easy, streamlined service also includes a healthcare power attorney and directives. If you're keeping score at home, yes, we simply used words like “easy” and “no cost” inside a paragraph about end-of-life planning.
More than 1 / 2 of those who have life insurance don't know the name of their life insurance coverage company
Considering these are the people responsible for assisting you financially protect your loved ones, it says a great deal that most policyholders cannot remember or don't choose to remember who their life insurance coverage is written with. With initiatives like Plus and in-depth blogs (not too unlike that one), Haven Life is aiming to bring new value and meaning to the agency and customer relationship.
More than 50% of respondents said they'd experience financial hardship if their spouse or partner died.
And this is the main reason why term life insurance may be worth it-it's an inexpensive, easier-than-ever way to take care of all your family members through whatever financial challenges lie ahead. (The proceeds of the policy might help pay for things like educational costs, a mortgage, and other financial needs.) And while employer-provided coverage is a superb work perk, it's likely insufficient for your requirements, most famously because if you depart or lose your job you'll no more have coverage. Fortunately, it's incredibly easy to apply for term life. Lucky you.
88% of adults keep important documents in a file cabinet, folder or not at all
Couple this with the fact that 37% of married couples do not know how you can access their partner/spouse's important email, financial or social accounts when they suddenly passed away. Or that only 12% of adults store important documents digitally while nearly 70% admit they could benefit from a better, more organized method to store and share important documents. We know this is a lot of percentages to process, however the top lines are this: Many people could use a simpler way to store and share their files, and digital files in particular.
The digital-first generation is just now getting to that age where end-of-life planning starts to seem important (typically, in your 30s, although it never hurts to begin planning earlier), and organizing files is simply one item on the long to-do list. And frankly, people still have a tendency to stuff important documents inside a folder or junk drawer and end up forgetting about them, even if that's precisely not what you should do.
These learnings led to Haven Life Plus including a secure, online safe deposit box for storing, managing and sharing your family's important documents through LifeSite. LifeSite gives you and your loved ones use of information anywhere, anytime – be it throughout an emergency or just while filling out paperwork in a doctor's office waiting room (everyone's favorite pastime). Normally, this service would cost you around $80 each year, but Haven Life Plus offers it free of charge throughout the amount of your term life insurance policy
At Haven Life, we like to also concentrate on researching one another. Growing together. Which, after financially protecting all your family members in case of your demise, is kind of what life insurance coverage is about. They at Haven Life appreciates outdoors, detailed feedback, and is grateful for the privilege of providing customers with reassurance. In the end, we're in this together-for a long time.
