Developed by LegacyShield in collaboration with SBLI, LegacyLife offers much more than traditional life insurance benefits
LegacyShield has expanded its offering of legacy planning and protecting families with the introduction of LegacyLife, a permanent life insurance product developed in collaboration with The Savings Bank Mutual Life Insurance Company of Massachusetts (SBLI).
LegacyLife features guaranteed death benefit, guaranteed cash value, and a return of premium level term rider. The new policy is also claimed to match traditional life insurance benefits while providing significant flexibility and much more.
Depending on the applicant’s age and coverage amount, LegacyLife policies may not need medical exam and are typically issued within five business days.
LegacyShield developed LegacyLife to consolidate pieces of estate planning
LegacyShield claims to have originally developed the product as a way to connect all pieces of estate planning into one, centralised and convenient digital location.
LegacyShield founder and CEO Michael Babikian said: “LegacyShield is committed to helping insurance and financial organizations protect more families through its digital distribution strategy.
“I’m very proud to bring LegacyLife to the market as part of our digital distribution strategy. As word spreads of the unique design and unparalleled protection it brings, we are confident that families will be happy they trusted us with their most lasting possession: their legacy.”
The product is preloaded with LegacyShield’s Life’s Mission Control tools allowing for estate planning essentials such as the ability to create a will, power of attorney, advance directives and HIPAA authorisation.
Individual financial legacies can be bundled into one convenient place, eliminating the need for multiple access accounts, password and separate webpages. Whether it is banking, retirement, credit cards, power of attorney, deed and ownership information, or a last will and testament, they can be brought under one umbrella in an easy-to-manage, secure location.
Life’s Mission Control also features a series of controls and protocols consolidating all accounts and information, from banking accounts to social media.
The vault offered by LegacyShield can store important client documents safely in one central location. This allows the designated heirs and executors to access the documents now or at a predetermined time in the future.
LegacyShield founder and chief marketing officer Dan Pierson said: “LegacyLife is so much more than just life insurance. As a former agent and distributor, LegacyLife is the type of product that would not only differentiate me from the competition, but also provides a uniquely flexible and comprehensive solution to more completely protect families.
“But as excited as I am to speak about LegacyLife, I am far more excited to watch new clients experience it. They’ll quickly learn just how integral it becomes to their overall planning.”