Minneapolis, MN (PRWEB) February 18, 2009
21st Services, a leading longevity analysis firm and a provider of life expectancy evaluations to the life settlements industry, is introducing its product to a new market: clients of financial planners.
21st Services has created a special, branded version of its life expectancy product for the financial planning market. The product is called the Customized Longevity Planning Report or CLPR. It is newly available in an online version called the eCLPR.
The Customized Longevity Planning Report, based on a review of the client's medical, personal and family history, displays their longevity curve compared to a standard mortality curve. The curve shows the client's median/average life expectancy, the projected maximum lifespan and the probability of living to various ages in between. Also included in the report is a discussion of potential improvements and how much they could extend life expectancy. (A sample copy of the Customized Longevity Planning Report is at http://www.21stServices.com/fp)
Jeanne Bailey, 21st Services' Chief Marketing Officer, said, "In almost 11 years of developing life expectancy evaluations for senior clients, we have created a unique and powerful system to do the assessments and create the reports and amassed an incredible database. We have also gained deep insight into senior health issues and their impact on longevity. We have honed these skills in the life settlement market, where investors have a critical need to know a policyholder's life expectancy.
"We see plenty of room to grow in our original market, life settlements," Ms. Bailey said. "But our expertise can benefit other markets as well. A natural extension is into the financial planning arena."
She continued, "We know that a primary financial concern for consumers, particularly Baby Boomers and retirees, is making sure their money will last as long as they do. We can offer planners, for the first time, a way to get a truly scientific estimate of how long, in each client's individual case, that needs to be."
Ms. Bailey said planners who have used 21st Services' life expectancy product find that it helps them tailor a plan much more closely to a client's needs. It can also help planners demonstrate to clients the logic of their recommendations. And, having the life expectancy evaluation on file helps a planner show that he/she made every attempt to provide a suitable plan for the client.
eCLPR Adds Online Convenience, Reduces Cost
In February 2009, an online version of the Customized Longevity Planning Report, called the eCLPR, is making its debut on 21st Services' completely updated website, http://www.21stServices.com. The online evaluation is based on a carefully structured questionnaire designed to elicit from the client information about their health and lifestyle that have a bearing on longevity. The result of the evaluation - the completed CLPR - is available for download moments after the questionnaire is finished.
Ms. Bailey said, "Our life expectancy evaluations are typically based on a review of the client's medical records. That option is still very much available for CLPR customers. But side-by-side tests have shown that the CLPRs based on medical, health and lifestyle information reported by the clients themselves are very close to the CLPRs based on our traditional medical records review. And the cost is significantly lower." 21st Services is introducing the eCLPR at $60.
Unveiled at Financial Planner Conferences
In 2008, 21st Services introduced the longevity analysis concept and the Customized Longevity Planning Report to financial planners at meetings of the Financial Planning Association (FPA) in Fort Lauderdale, the Society of Financial Service Professionals (FSP) in Las Vegas, and the National Association of Personal Financial Advisors (NAPFA) in Denver. "We were very pleased with the response - at the workshops and in the halls at the conferences," said Ms. Bailey. "It's a new concept, but planners quickly see how it can fit in their practices."
Well-known author and lecturer, attorney Stephan R. Leimberg made a 21st-Services-sponsored presentation on life expectancy analyses and planning at the NAPFA conference in Denver. He became familiar with 21st Services while he was researching life expectancy analyses for his upcoming book, The Tools and Techniques of Life Settlement Planning. He has become an enthusiastic proponent of using the concept in virtually all forms of planning: financial, estate, employee benefit, retirement, charitable giving and divorce planning. An article by Mr. Leimberg in the September 2008 issue of The Estate Planning Journal informed planners about the importance of life expectancy analyses, the companies that offer them, and how they can be used in planning.
Jeffrey B. Kelvin, nationally known SEC attorney, made a 21st-Services-sponsored presentation at the Financial Service Forum of the Society of FSP in November. His focus was life expectancy evaluations as an aid to creating more suitable plans for consumers, helping planners discharge their fiduciary responsibility to their clients. Mr. Kelvin is an author and the president of Financial Planners Assistance Corporation, which advises planners on compliance issues.
For information about 21st Services' marketing through financial planners and about its Customized Longevity Planning Report and eCLPR, go to http://www.21stServices.com.