Lincoln National (LNC) Starts Grief Support for Group Life Clients

Core Insights - Lincoln National Corporation (LNC) has launched Empathy's grief support services for customers with Group Life insurance policies and their beneficiaries, aiming to provide comprehensive assistance during difficult times [1][4]. Company Initiatives - Beneficiaries must file a claim to access Empathy's services, which include on-demand assistance and personalized care plans tailored to their needs [2]. - A care manager will be assigned to help beneficiaries navigate emotional, legal, and financial challenges after the loss of a loved one [2][3]. - The personalized care plan will include actionable steps for managing probate and settling estates, as well as support for closing accounts and creating obituaries [3]. Strategic Implications - The initiative is designed to expedite claims settlement and provide support beyond financial aspects, enhancing LNC's Group Life offerings [4]. - By integrating these services, LNC aims to attract more customers to its life insurance policies, which could lead to increased premium revenue [4]. Market Context - The launch of these services is timely, as families often spend over a year settling affairs after a loss, dedicating an average of 20 hours per week to these tasks [5]. - According to a survey, 75% of beneficiaries face challenges with estate-related financial matters, impacting their work performance [5]. Performance Metrics - LNC's shares have increased by 15.1% year-to-date, outperforming the industry average growth of 12% [6]. - The company currently holds a Zacks Rank 3 (Hold) [7]. Competitor Analysis - CNO Financial Group, Brighthouse Financial, and Reinsurance Group of America are better-ranked stocks in the insurance sector, with CNO Financial holding a Zacks Rank 1 (Strong Buy) [8]. - CNO Financial's earnings have surpassed estimates in three of the last four quarters, with a consensus estimate indicating an 11% improvement for 2024 [9]. - Brighthouse Financial and Reinsurance Group have also shown positive earnings trends, with respective improvements of 27.7% and 8.2% for 2024 [10][11]. - Year-to-date stock performance shows CNO Financial and Reinsurance Group gaining 17.3% and 29.6%, while Brighthouse Financial has declined by 16.8% [12].