Lincoln Financial Group Expands Compassionate Care Services to Support Beneficiaries
Lincoln Financial Group (NYSE: LNC) has introduced new grief support services for Group Life insurance beneficiaries, going beyond the traditional claims process. The service, provided by Empathy, offers comprehensive support to help families navigate both logistical and emotional challenges following a loss. This includes assistance with estate settlement, will execution, and other administrative tasks that typically consume about 20 hours per week for families over a year.
The new service is automatically available to all Lincoln Group Life insurance customers and their beneficiaries. It provides on-demand, personalized support through a dedicated care manager, customized care plans, probate and estate settlement guidance, and various tools and resources to assist with tasks like closing accounts and creating obituaries.
The Lincoln Financial Group (NYSE: LNC) ha introdotto nuovi servizi di supporto per il lutto per i beneficiari dell'assicurazione vita di gruppo, andando oltre il tradizionale processo di richiesta. Il servizio, fornito da Empathy, offre un supporto completo per aiutare le famiglie ad affrontare le sfide sia logistiche che emotive dopo una perdita. Questo include assistenza per la liquidazione dell'eredità, l'esecuzione del testamento e altri compiti amministrativi che normalmente richiedono circa 20 ore a settimana per le famiglie nel corso di un anno.
Il nuovo servizio è disponibile automaticamente per tutti i clienti dell'assicurazione vita di gruppo Lincoln e i loro beneficiari. Fornisce supporto personalizzato e on-demand tramite un manager dedicato, piani di assistenza personalizzati, indicazioni per la successione e la liquidazione dell'eredità e vari strumenti e risorse per assistere in compiti come la chiusura dei conti e la creazione di necrologi.
Lincoln Financial Group (NYSE: LNC) ha introducido nuevos servicios de apoyo ante el duelo para beneficiarios del seguro de vida grupal, yendo más allá del proceso tradicional de reclamaciones. El servicio, proporcionado por Empathy, ofrece un apoyo integral para ayudar a las familias a navegar tanto los desafíos logísticos como emocionales tras una pérdida. Esto incluye asistencia con la liquidación de bienes, la ejecución de testamentos y otras tareas administrativas que normalmente consumen alrededor de 20 horas a la semana para las familias durante un año.
El nuevo servicio es disponible automáticamente para todos los clientes del seguro de vida grupal de Lincoln y sus beneficiarios. Proporciona apoyo personalizado y bajo demanda a través de un gestor de atención dedicado, planes de atención personalizados, orientación sobre sucesiones y liquidaciones de bienes, y diversas herramientas y recursos para ayudar con tareas como el cierre de cuentas y la creación de obituarios.
링컨 파이낸셜 그룹 (NYSE: LNC)은 그룹 생명 보험 수익자를 위한 새로운 애도 지원 서비스를 도입하여 전통적인 청구 과정을 넘어섰습니다. 이 서비스는 Empathy에 의해 제공되며, 상실 후 가족들이 물리적, 정서적 어려움을 극복할 수 있도록 포괄적인 지원을 제공합니다. 여기에는 약 20시간/week가 소요되는 유산 정산, 유언 집행 및 기타 행정 작업에 대한 지원이 포함됩니다.
이 새로운 서비스는 모든 링컨 그룹 생명 보험 고객과 그들의 수익자에게 자동으로 제공됩니다. 이는 전담 관리자를 통한 맞춤형 지원, 개인화된 관리 계획, 유산 및 재산 정산에 대한 안내, 그리고 계좌 정리 및 사망 기사를 작성하는 등 다양한 작업을 돕기 위한 도구 및 자원을 제공합니다.
Lincoln Financial Group (NYSE: LNC) a lancé de nouveaux services de soutien au deuil pour les bénéficiaires de l'assurance vie collective, dépassant ainsi le processus de déclaration traditionnel. Ce service, fourni par Empathy, offre un soutien complet pour aider les familles à naviguer à travers les défis logistiques et émotionnels suite à une perte. Cela inclut une assistance pour le règlement de la succession, l'exécution du testament et d'autres tâches administratives qui prennent généralement environ 20 heures par semaine aux familles sur une année.
Ce nouveau service est automatiquement disponible pour tous les clients de l'assurance vie collective de Lincoln et leurs bénéficiaires. Il fournit un soutien personnalisé à la demande par l'intermédiaire d'un gestionnaire de soins dédié, des plans de soins adaptés, des conseils sur la succession et le règlement des biens, ainsi que divers outils et ressources pour aider avec des tâches telles que la clôture de comptes et la rédaction d'avis de décès.
Die Lincoln Financial Group (NYSE: LNC) hat neue Trauerunterstützungsdienste für Begünstigte der Gruppenlebensversicherung eingeführt, die über den traditionellen Anspruchsprozess hinausgehen. Der von Empathy angebotene Service bietet umfassende Unterstützung, um Familien dabei zu helfen, sowohl logistische als auch emotionale Herausforderungen nach einem Verlust zu bewältigen. Dazu gehört Unterstützung bei der Erbschaftsregelung, der Testamentvollstreckung und anderen administrativen Aufgaben, die typischerweise etwa 20 Stunden pro Woche für Familien über ein Jahr hinweg in Anspruch nehmen.
Der neue Dienst ist automatisch verfügbar für alle Kunden der Lincoln Gruppenlebensversicherung und deren Begünstigte. Er bietet auf Anfrage persönliche Unterstützung durch einen speziellen Betreuer, maßgeschneiderte Pflegepläne, Anleitung zur Nachlassregelung und verschiedene Werkzeuge und Ressourcen zur Unterstützung bei Aufgaben wie Kontoschließungen und der Erstellung von Nachrufen.
- Expansion of services beyond financial support for beneficiaries
- Automatic inclusion of grief support services for all Group Life insurance customers
- Personalized support through dedicated care managers
- Assistance with complex tasks like estate settlement and probate
- None.
Insights
Lincoln Financial Group's expansion of compassionate care services for Group Life insurance beneficiaries is a strategic move that could potentially enhance their competitive position in the insurance market. While this initiative doesn't directly impact the company's immediate financial performance, it could lead to increased customer satisfaction and loyalty in the long term. This, in turn, may result in improved retention rates and possibly attract new customers, indirectly contributing to revenue growth.
The partnership with Empathy to provide these services demonstrates Lincoln's commitment to value-added offerings, which could differentiate them in a competitive insurance landscape. From an investor's perspective, this move signals the company's focus on customer-centric innovation and potential for market share growth in the Group Life insurance segment. However, the financial impact of this initiative may take time to materialize and should be monitored over the coming quarters.
Lincoln Financial's expansion of compassionate care services addresses a critical gap in the insurance industry. By offering support beyond the traditional claims process, they're tackling the often-overlooked logistical and emotional challenges faced by beneficiaries. This holistic approach aligns with growing industry trends towards comprehensive client care and could set a new standard in the sector.
The statistics provided - such as families spending an average of 20 hours per week for over a year resolving affairs - highlight the significant burden on beneficiaries. By offering services to alleviate this, Lincoln is not only improving customer experience but also potentially reducing the workload on their own claims department. This could lead to operational efficiencies and cost savings in the long run, while simultaneously enhancing their brand reputation in the competitive Group Life insurance market.
Lincoln Financial's new offering taps into a growing market need for comprehensive support services in the insurance sector. With
From a market perspective, this move positions Lincoln as an innovator in customer care, potentially giving them an edge in attracting and retaining both corporate clients and end-users. The partnership with Empathy also demonstrates Lincoln's ability to leverage external expertise to enhance their offerings. As the insurance market continues to evolve, companies that can provide such value-added services may see improved customer satisfaction scores and potentially higher market share in the long term.
Group Life insurance beneficiaries will receive on-demand, personalized support through a dedicated care team.
On average, it can take families more than a year to resolve their loved one's affairs, spending 20 hours per week on these tasks.1 Three out of four beneficiaries also struggle with estate-related financial matters, and nearly half of beneficiaries say their work performance was negatively affected by their loss.2
To help make this process smoother, Lincoln now offers services from Empathy, providing beneficiaries with on-demand, personalized support to assist with the administrative, emotional, legal and financial challenges that can come after losing a loved one. These services are now automatically available to all customers who have purchased Lincoln Group Life insurance through the workplace, and to the beneficiaries of their policies.
“We are committed to being there for our customers and their families, especially when they need us most,” said Heather Deichler, Lincoln's Group Protection Head of Product and Underwriting. “We want to help our beneficiaries resolve their claim quickly, support them beyond the financial component, and provide ongoing assistance through their loss. We’re proud to offer this concierge-level service so that they can get the support they need during these incredibly difficult times.”
Empathy’s services will be offered to beneficiaries of Group Life policies when they make their claim. They are provided with on-demand support and personalized plans on a variety of topics with benefits that include:
- Dedicated care manager: A dedicated care manager who is matched with the beneficiary to guide them through all the challenges of loss.
- Personalized care plan: Actionable steps and clear guidance to help get all the necessary things done, fully customized to meet each family’s specific needs.
- Probate and estate settlement guidance: Step-by-step assistance navigating the legal process of probate and handling the ins and outs of settling a loved one’s estate.
- Tools and resources: Help with closing accounts, assistance creating an obituary and supportive resources created with world-renowned experts to help beneficiaries through the complex process of grief.
Lincoln is committed to providing this additional layer of care to ensure that people navigating loss can focus on the things that matter most.
About Lincoln Financial Group
Lincoln Financial Group helps people to plan, protect and retire with confidence. As of December 31, 2023, approximately 17 million customers trust our guidance and solutions across four core businesses – annuities, life insurance, group protection, and retirement plan services. As of June 30, 2024, the company had
LCN-6891538-081324
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1Empathy Cost of Dying Report, 2022-2024
2Empathy User Survey
View source version on businesswire.com: https://www.businesswire.com/news/home/20240821121815/en/
Lincoln Financial Group
Julianne Mattera
Julianne.Mattera@lfg.com
267-418-0346
Source: Lincoln Financial Group
FAQ
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