For agents sick of toting bundles of paperwork to every client meeting, LISA could be the answer. Short for Life Insurance Sales Application, LISA gives producers a digital version of a compliance-approved application, which the client can fill out and sign electronically. Users can also access sales training and presentation materials via the app.
LIMRA'S Ready-2-Retire
$499 yearly licensing fee
LIMRA's Ready-2-Retire app recently won a silver Horizon Interactive Award for educational mobile app, and that's not very surprising. The tool walks clients through the process of establishing a vision for retirement and setting up goals to achieve it — in about 15 minutes. When consumers finish, they're given a personal retirement plan that summarizes their desired retirement lifestyle, their level of preparedness, topics they need to review and next steps. It's a great start to working with an advisor. LIMRA promotes it as "an excellent lead-generation platform," and says a subscription to Ready-2-Retire "gives you a personalized Internet application. You'll get a personal URL that you can give your clients and prospects."
Human Life Value Calculator
Life insurance is often bought to cover immediate debt and sometimes lifetime priorities, like a child's college tuition. However, a client's actual worth includes all of that plus his or her potential earnings through retirement. This app from Minnesota Life can help agents determine their clients' "Human Life Value," their long-term economic worth based on what they can expect to earn in their lifetime. The agent feeds the calculator basic information, such as current income and debt, and the app determines a range of value for the client — with basic needs on the low end and total Human Life Value on the other. A slide bar allows clients to choose a desired amount of insurance coverage somewhere along that range. Results can also be emailed to clients and advisors.
LIFE Foundation Needs Calculator
Life Insurance Sales Application (LISA)
