Empathy Collaboration with Voya Financial Brings Industry-First Legacy Planning to Millions
Empathy and Voya Financial have announced a groundbreaking collaboration to integrate Empathy LifeVault™ into Voya's benefits ecosystem. This marks the first financial institution implementation of LifeVault, offering an innovative legacy planning platform to policyholders and employees.
The partnership addresses a critical need revealed in Empathy's 'Grief Tax' report, which found that 2/3 of people lack access to essential documents after losing a loved one, extending estate settlement times up to 20 months. LifeVault will be available to Voya's Group Term Life Insurance and Lifetime Life Insurance enrollees, providing a secure digital platform for storing affairs, creating legal documents, and sharing essential information.
This initiative comes at a important time, as only 24% of U.S. adults report having a will, with an anticipated $84 trillion wealth transfer from baby boomers to younger generations expected over the next two decades. The collaboration aims to set new industry standards for legacy planning while expanding Empathy's services beyond bereavement care.
Empathy e Voya Financial hanno annunciato una collaborazione innovativa per integrare Empathy LifeVault™ nell'ecosistema dei benefit di Voya. Si tratta della prima implementazione di LifeVault in un'istituzione finanziaria, offrendo una piattaforma all'avanguardia per la pianificazione ereditaria a titolari di polizze e dipendenti.
La partnership risponde a un'esigenza cruciale evidenziata dal rapporto 'Grief Tax' di Empathy, che ha rilevato come 2 persone su 3 non abbiano accesso ai documenti essenziali dopo la perdita di una persona cara, allungando i tempi di liquidazione dell'eredità fino a 20 mesi. LifeVault sarà disponibile per gli iscritti alle polizze Group Term Life Insurance e Lifetime Life Insurance di Voya, offrendo una piattaforma digitale sicura per conservare pratiche, creare documenti legali e condividere informazioni fondamentali.
Questa iniziativa arriva in un momento importante, dato che solo il 24% degli adulti statunitensi dichiara di avere un testamento, con un trasferimento di ricchezza stimato in 84 trilioni di dollari dai baby boomer alle generazioni più giovani previsto nei prossimi vent'anni. La collaborazione punta a stabilire nuovi standard nel settore della pianificazione ereditaria, ampliando i servizi di Empathy oltre l'assistenza nel lutto.
Empathy y Voya Financial han anunciado una colaboración innovadora para integrar Empathy LifeVault™ en el ecosistema de beneficios de Voya. Esta es la primera implementación de LifeVault en una institución financiera, ofreciendo una plataforma innovadora de planificación patrimonial para asegurados y empleados.
La asociación responde a una necesidad crítica revelada en el informe 'Grief Tax' de Empathy, que encontró que 2 de cada 3 personas carecen de acceso a documentos esenciales tras la pérdida de un ser querido, extendiendo el tiempo de liquidación de herencias hasta 20 meses. LifeVault estará disponible para los inscritos en los seguros Group Term Life Insurance y Lifetime Life Insurance de Voya, proporcionando una plataforma digital segura para almacenar asuntos, crear documentos legales y compartir información esencial.
Esta iniciativa llega en un momento clave, ya que solo el 24% de los adultos estadounidenses reporta tener un testamento, con una transferencia de riqueza estimada en 84 billones de dólares de los baby boomers a las generaciones más jóvenes prevista en las próximas dos décadas. La colaboración busca establecer nuevos estándares en la planificación patrimonial, ampliando los servicios de Empathy más allá del cuidado en el duelo.
Empathy와 Voya Financial가 획기적인 협력을 발표하여 Empathy LifeVault™를 Voya의 복리후생 생태계에 통합합니다. 이는 금융 기관에서 LifeVault가 처음 도입되는 사례로, 보험 가입자와 직원들에게 혁신적인 유산 계획 플랫폼을 제공합니다.
이 파트너십은 Empathy의 'Grief Tax' 보고서에서 드러난 중요한 문제를 해결합니다. 이 보고서는 3명 중 2명이 사랑하는 사람을 잃은 후 필수 문서에 접근하지 못해 상속 절차가 최대 20개월까지 지연된다고 밝혔습니다. LifeVault는 Voya의 Group Term Life Insurance 및 Lifetime Life Insurance 가입자에게 제공되며, 중요한 서류를 안전하게 보관하고 법적 문서를 작성하며 필수 정보를 공유할 수 있는 디지털 플랫폼입니다.
이 이니셔티브는 미국 성인 중 단 24%만이 유언장을 가지고 있다고 보고된 중요한 시점에 이루어졌으며, 앞으로 20년간 베이비붐 세대에서 젊은 세대로 약 84조 달러의 부의 이전이 예상됩니다. 이번 협력은 유산 계획 분야에서 새로운 산업 표준을 세우고 Empathy의 서비스를 애도 지원을 넘어 확장하는 것을 목표로 합니다.
Empathy et Voya Financial ont annoncé une collaboration révolutionnaire visant à intégrer Empathy LifeVault™ dans l'écosystème des avantages sociaux de Voya. Il s'agit de la première mise en œuvre de LifeVault dans une institution financière, offrant une plateforme innovante de planification successorale aux assurés et employés.
Ce partenariat répond à un besoin crucial révélé dans le rapport 'Grief Tax' d'Empathy, qui a montré que 2 personnes sur 3 n'ont pas accès aux documents essentiels après la perte d'un proche, prolongeant les délais de règlement des successions jusqu'à 20 mois. LifeVault sera accessible aux souscripteurs des assurances Group Term Life Insurance et Lifetime Life Insurance de Voya, offrant une plateforme numérique sécurisée pour stocker ses affaires, créer des documents légaux et partager des informations essentielles.
Cette initiative intervient à un moment clé, alors que seuls 24 % des adultes américains déclarent posséder un testament, avec un transfert de richesse estimé à 84 000 milliards de dollars des baby-boomers vers les générations plus jeunes prévu au cours des deux prochaines décennies. Cette collaboration vise à établir de nouvelles normes dans la planification successorale tout en élargissant les services d'Empathy au-delà de l'accompagnement du deuil.
Empathy und Voya Financial haben eine bahnbrechende Zusammenarbeit bekannt gegeben, um Empathy LifeVault™ in Voyas Benefit-Ökosystem zu integrieren. Dies ist die erste Implementierung von LifeVault bei einer Finanzinstitution und bietet eine innovative Nachlassplanungsplattform für Versicherungsnehmer und Mitarbeiter.
Die Partnerschaft adressiert ein wesentliches Problem, das im 'Grief Tax'-Bericht von Empathy aufgezeigt wurde: Zwei Drittel der Menschen haben nach dem Verlust eines Angehörigen keinen Zugang zu wichtigen Dokumenten, was die Abwicklung von Nachlässen um bis zu 20 Monate verlängert. LifeVault wird für Teilnehmer der Group Term Life Insurance und Lifetime Life Insurance von Voya verfügbar sein und eine sichere digitale Plattform zum Aufbewahren von Angelegenheiten, Erstellen rechtlicher Dokumente und Teilen wichtiger Informationen bieten.
Diese Initiative kommt zu einem wichtigen Zeitpunkt, da nur 24 % der US-Erwachsenen angeben, ein Testament zu besitzen, und in den nächsten zwei Jahrzehnten eine Vermögensübertragung von geschätzten 84 Billionen US-Dollar von den Babyboomern auf jüngere Generationen erwartet wird. Die Zusammenarbeit zielt darauf ab, neue Branchenstandards in der Nachlassplanung zu setzen und Empathys Dienstleistungen über die Trauerbetreuung hinaus auszubauen.
- First-mover advantage as Voya becomes the first financial institution to implement LifeVault
- Strategic expansion of Voya's insurance product offerings with value-added services
- Positions Voya to capture part of the upcoming $84 trillion wealth transfer market
- None.
Insights
Voya Financial's strategic partnership with Empathy to integrate LifeVault™ into its benefits ecosystem represents a calculated expansion into the growing digital legacy planning space. As the first financial institution to implement this solution, Voya positions itself at the forefront of an emerging category within financial wellness services.
The collaboration directly addresses documented market inefficiencies revealed in Empathy's research, where two-thirds of people lack access to essential documents following a loved one's death. By offering LifeVault to employees enrolled in Group Term Life and Lifetime Life Insurance policies, Voya enhances its value proposition beyond traditional coverage.
From a competitive standpoint, this move aligns with the broader industry shift toward comprehensive financial wellness solutions. With only 24% of U.S. adults having a will and an estimated $84 trillion wealth transfer approaching over the next two decades, Voya is targeting a substantial addressable market.
For Voya investors, this represents modest product differentiation rather than a transformative revenue opportunity. Without disclosed financial terms or implementation costs, the partnership likely represents incremental value enhancement to existing offerings rather than a material business catalyst. The offering may improve client retention and potentially attract new corporate clients seeking comprehensive benefits packages, but adoption rates for such services typically follow a gradual curve requiring customer education and awareness building.
Voya Financial integrates Empathy LifeVault™ into its benefits ecosystem, marking a major expansion for Empathy’s newest product and redefining the future of legacy planning
Through this collaboration, Empathy and Voya will be positioned to help people prepare their families ahead of loss. LifeVault will now be available to employees enrolled in Group Term Life Insurance and Lifetime Life Insurance and will serve as a useful tool as they work through and document important legacy decisions for themselves and for their families. LifeVault is designed to integrate with trusted financial institutions like Voya, providing families with a secure solution they can trust to hold on to critical information for years to come.
“This is a defining moment for Empathy and for the future of legacy planning," said Ron Gura, Co-Founder & CEO of Empathy. “What the Grief Tax uncovered is the very real impact a lack of preparation can have on the next generation. We built LifeVault so that everyone, no matter their financial situation, can take care of their families and proactively plan for the future. Voya’s decision to bring this to their vast network, including their own organization, speaks volumes about the growing demand for compassionate technology solutions that help families at every stage, before, during, and after loss.”
LifeVault offers an intuitive digital platform designed to comprehensively store affairs, quickly create legal documents like wills, healthcare directives, and power of attorney, and securely share essential information with loved ones. Through LifeVault, Voya will offer people a streamlined way to prepare for the future, ensuring that important, and often difficult decisions are documented, created and stored. In doing so, families can feel prepared in their legacy planning, no matter what stage of life they may be in.
"We are committed to supporting our policyholders and employees in meaningful ways, and that includes giving them resources to plan for all of life’s transitions,” said Maleiha Russell, VP, Life, Absence & Disability Product at Voya Financial. “Collaborating with Empathy allows us to provide more than just financial protections—we are offering proactive steps and peace of mind for families who want to be prepared for whatever the future holds. By combining our group insurance offerings with Empathy's human-centered technology, we are able to offer comprehensive support that truly makes a difference."
Despite the growing importance of estate and legacy planning, many Americans still do not have the necessary legal documents in place. In fact, only 241 percent of
With the anticipated success of LifeVault, Empathy is expanding beyond its initial focus on bereavement care, to be a trusted technology provider for helping financial institutions, life insurance carriers, employers, and families around the world prepare for their financial future. Empathy helps financial institutions and insurers expand their breadth of care services with technology that modernizes legacy planning and loss support making them more intuitive and accessible to all.
For more information about LifeVault and Empathy’s services, visit www.empathy.com.
About Empathy
Empathy is a leading technology company transforming the way people plan for and navigate life’s toughest moments. Available to over 40 million people across
About Voya Financial®
Voya Financial, Inc. (NYSE: VOYA) is a leading health, wealth and investment company with approximately 10,000 employees who are focused on achieving Voya’s aspirational vision: “Clearing your path to financial confidence and a more fulfilling life.” Through products, solutions and technologies, Voya helps its approximately 15.7 million individual, workplace and institutional clients become well planned, well invested and well protected. Benefitfocus, a Voya company and a leading benefits administration provider, extends the reach of Voya’s workplace benefits and savings offerings by engaging directly with approximately 11.9 million employees in the
Group Term Life Insurance is issued by ReliaStar Life Insurance Company (
View source version on businesswire.com: https://www.businesswire.com/news/home/20250416413421/en/
Source: Empathy
FAQ
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Which Voya insurance products will include access to Empathy LifeVault?
