LIFE INSURANCE NEEDS CALCULATOR

OVERVIEW

While doing competitive research, the UX Product Designer and I found that a lot of our competitors offered some kind of life insurance needs calculator. I collaborated with our lead agent in order to fully understand how they help customers figure out how much life insurance they may need.

I worked with the UX Product Designer to create an online calculator experience that was easy to navigate and thorough, but still felt personal. I made sure the language was very simple, conversational, and non-invasive (which is important when talking about financial matters).

The marketing team planned to promote the calculator via social ads, so I paired with the web designer and developer to create a landing page for the calculator. The content of the landing page focuses on the value of the calculator and how to use it.

THE USER PROBLEMS

  • Users often underestimate how much life insurance they may need
  • Users coming to the site don't have a way to calculate how much life insurance they may need

THE CHALLENGES

  • Ensuring the language was in compliance with legal regulation
  • Avoiding non-compliant language, such as "we recommend"
  • Limiting the number of questions so there was minimal friction for users
  • Ensuring the back-end calculations were populating accurate answers

THE PROCESS

I started by talking with our lead agent. I asked her to walk me through a typical conversation with a customer who calls the call center. She told me the questions she typically asks to help customers figure out how much life insurance they may need. I also looked at life insurance studies from LIMRA to figure out what’s usually recommended.

I took these insights to create the calculator in Excel, and then I consulted with the lead agent again to make sure it was in alignment with the customer experience in the call center.

The audience for this brand was millennial women, particularly moms, so I kept the tone very colloquial and conversational. I wanted the calculator to feel like the user was talking to her best friend who has figured out adulting.

Excel calculator

After reviewing with the lead agent and compliance, the next step was to collaborate with the UX Product Designer to create a wireframe of the user flow of the calculator.

Calculator wireframe

THE FINISHED PRODUCT

Explore the InVision prototype of the finished calculator, as well as the final landing page where the calculator lived. 

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