When many people hear the term financial security, they think money. Some might even think about a boat for the summer, or that European vacation they’ve been eyeing. But there’s a piece of financial security that is often overlooked. That is the possibility of losing the family’s primary financial provider.
Preparing for that possibility is still an important part of being financially stable. Much like keeping a fire extinguisher around the house, you hope you never have to use it. But if you do, it can be a life saver.
That’s why having reliable life and health insurance is an important safety net that provides a family or individual a sense of financial well-being. At Franklin Madison, we have embraced this important step, and want to help you find just the right product for you and your consumer.
A recent study conducted by Life Happens showed that almost 2 in 3 Americans think that having life insurance is the key to taking care of their family’s financially. Even so, only 59% of Americans have life insurance coverage. Many of those without coverage have no plan to financially support their family should they die unexpectedly. Knowing this, in recent years many financial institutions have begun thinking of unconventional ways to help their clients reach financial wellness. Almost half of American families polled prefer an easier way to obtain life insurance, as opposed to traditional methods. Of the portion of the population that already have life insurance, 65% report enjoying life more knowing that their families are protected should they be taken before their time.
Franklin Madison is highly committed to providing quality insurance at a reasonable price with minimal hassle throughout the application process. Our goal is for our products to be easily accessible and obtainable, and we believe we have achieved this through our digital and traditional life insurance offerings. With our digital life insurance application process, applicants can apply for life insurance in 10 minutes or less. 99% of applicants require no additional medical testing. We believe that this increase in efficiency has done away with much of the red tape surrounding obtaining life insurance coverage, and thus aids in providing long-term financial security for those the consumer loves the most.
When a company of any kind can help the consumer achieve economic well-being, we believe it helps to create loyal customers. By prioritizing the customer’s needs first, you will set the stage for a long-term relationship. In short, if you do well by the consumer, then they will do well by you.
If you’d like to find out how smarter marketing can turn insurance products into loyal financial institution customers, check out our eBook on financial wellness. Or contact us today.