Lincoln National (LNC) Starts Grief Support for Group Life Clients
Lincoln National Corporation LNC introduced Empathy’s grief support services for its customers who have bought Lincoln Group Life insurance policies through their workplace and to the beneficiaries of these policies.
The beneficiaries need to claim a file to avail of Empathy’s services, post which they can receive on-demand assistance and personalized plans tailored to their specific needs. A care manager will be assigned to provide support and guidance through navigating administrative, emotional, legal and financial challenges following the death of a loved one.
A personalized care plan will be chalked out containing actionable steps and clear guidance to address each family's unique needs during this difficult time. Comprehensive assistance with the legal process of probate and managing the complexities of settling a loved one's estate will also stay in place. Additionally, assistance with closing accounts, creating an obituary and access to expert resources to help beneficiaries navigate the intricate journey of grief will also be provided as part of Empathy’s services.
Therefore, the ulterior motive of the recent move remains in quick settlement of claims and offer them support that goes beyond financial considerations. Making Empathy’s concierge-level services accessible reflects Lincon National’s sincere efforts to enhance its Group Life offerings. Integrating beneficial features as part of its plans is likely to lure more customers to opt for LNC’s life insurance policies. Needless to say, higher policy sales fetch increased premiums to insurers, which remain the most significant contributor to the top line.
The latest initiative of Lincoln National can also be termed as a time opportune one, considering the significant toll that the loss of a loved one can take on the physical and mental health of individuals. According to the Empathy Cost of Dying Report, families often spend more than a year settling their loved one's affairs, dedicating an average of 20 hours per week to these tasks. Per one of Empathy's survey, three out of four beneficiaries encounter challenges with estate-related financial matters and nearly half report that their work performance suffers as a result of their loved one’s loss.
LNC's Price Performance
Shares of Lincoln National have gained 15.1% year to date compared with the industry’s 12% growth.
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Zacks Rank & Key Picks
LNC currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the insurance space are CNO Financial Group, Inc. CNO, Brighthouse Financial, Inc. BHF and Reinsurance Group of America, Incorporated RGA. CNO Financial sports a Zacks Rank #1 (Strong Buy), and Brighthouse Financial and Reinsurance Group carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
CNO Financial’s earnings surpassed estimates in three of the last four quarters and missed the mark once, the average surprise being 21.21%. The Zacks Consensus Estimate for CNO’s 2024 earnings indicates an improvement of 11% from the year-ago reported figure. The consensus mark for CNO’s 2024 earnings has moved 12.1% north in the past 30 days.
The bottom line of Brighthouse Financial outpaced earnings estimates in three of the last four quarters and missed the mark once, the average surprise being 3.76%. The Zacks Consensus Estimate for BHF’s 2024 earnings indicates an improvement of 27.7% from the year-ago reported figure while the same for revenues implies growth of 3.7%. The consensus mark for BHF’s 2024 earnings has moved 12.5% north in the past 30 days.
Reinsurance Group’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 20.51%. The Zacks Consensus Estimate for RGA’s 2024 earnings indicates an improvement of 8.2% from the year-ago reported figure while the same for revenues implies growth of 14.1%. The consensus mark for RGA’s 2024 earnings has moved 1.8% north in the past 30 days.
Shares of CNO Financial and Reinsurance Group have gained 17.3% and 29.6%, respectively, year to date. However, the Brighthouse Financial stock has declined 16.8% in the same time frame.
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