Maintaining and growing your client base is always on your mind as a life insurance advisor – and it’s on our minds at LegacyShield too. That’s why a component of our insurance connectivity platform is designed to help you build stronger client relationships and dramatically increase your referrals while cutting out fruitless prospecting tactics.

But how exactly does LegacyShield work for advisors, and what does the referral process look like? Senior Account Executive Krystal Lockwood answers some of the common questions that advisors have about LegacyShield and its referral capabilities.


Q. Can you briefly explain what LegacyShield is?

A. At its core, LegacyShield is a secure digital file sharing and storage platform that life insurance advisors use to connect their insurance businesses to their clients. Advisors can securely send files and documents to their clients, gain valuable insights, and do many other things to simplify and make their business more effective. Meanwhile, their clients can upload important documents, such as life insurance policies, bank account information, and even family photos and memories, on a private portal. This portal can then be shared with clients’ beneficiaries at the time of their choosing.


LegacyShield provides advisors with extended client connectivity and clients with peace of mind knowing their information, their plans, and their legacy get to the right people at the right time.

Q. What are the key benefits of LegacyShield for advisors?


A. In my experience implementing LegacyShield for a number of life insurance advisors, I would say there are several major benefits.


1. Peace of mind. We see LegacyShield as “closing the loop” for life insurance advisors. When you connect your LegacyShield account to your client, you know all the work you put into setting up that client’s life insurance policy, financial planning, etc., won’t be lost. You have the peace of mind that your clients’ legacies will be passed on to their loved ones. This is a win-win because clients are more completely protected, and advisors are much more likely to work with their clients’ next of kin. You can read about overcoming losing your clients’ family as clients by reading our blog Break the Rule of 66.

2. Differentiation. Life insurance is an increasingly competitive market, and a secure, digital platform is a major differentiator that can set you apart from the competition. The platform gives clients greater organization and control over their legacy while also facilitating communication and collaboration between clients and advisors. The result is that advisors can further solidify and deepen relationships with their clients, ultimately benefiting both parties.

3. Referral generation. Most advisors struggle with gaining referrals and, in particular, multigenerational referrals. Families are an incredibly important referral source; the stickier an advisor is with an entire family, the less likely children or grandchildren are to leave. With LegacyShield, advisors can find more life insurance prospects and maximize their multigenerational connections.

Q. Can you explain how LegacyShield generates referrals for advisors?


A. Yes! What’s great about LegacyShield is that advisors can gain more referrals without the extensive time and resources that we traditionally associate with lead generation.


It works like this: Clients add “team members” to their LegacyShield account. These are the people – usually spouses, children, or close family and friends – designated to receive the clients’ information. When clients provide “roles” in their accounts to these loved ones, they automatically receive an account with LegacyShield.


The LegacyShield advisor is then connected to that team member and receives their contact information. The advisor can reach out to the connected prospect to uncover opportunities.


What’s unique about LegacyShield is that it acts as a viral referral marketing machine. One referral can lead to dozens and even hundreds over time. For example, a client adds her sister as a team member on her account, then the sister creates her own account and shares it with her husband, then he creates an account and shares it with his parents, then his parents create accounts and share them with their other children.


Now, your “referral machine” is up and running, giving you a steady stream of prospects.


Q. How many referrals does each LegacyShield client provide?


A. Most clients add between 8 and 20 people to their Legacy team. That means you gain an average of 8 to 20 referrals for each client you add to LegacyShield.


Q. What does the implementation process look like with LegacyShield?


A. Our team takes a hands-on approach when implementing a LegacyShield platform for advisors. We start with an onboarding meeting where we learn about your current business strategy and how LegacyShield will best fit within it. Our goal is to then roll out the solution as seamlessly as possible.


It’s important to trust the process with LegacyShield. Once implementation is complete, your platform will begin to grow and become a more powerful tool for your business over time. With our world becoming increasingly digital, investing in a secure online platform will lead to a sustainable, successful business now and for many years to come.


Interested in learning more about LegacyShield and its referral generation capabilities? Click here to schedule an advisor demo.

Krystal Lockwood

Written by Krystal Lockwood

Krystal has spent her entire career advising executives on how to grow their businesses with modern sales techniques and software solutions. As LegacyShield's Vice President of Sales, Krystal works with insurance and financial professionals to build their business and provide relevant value-added services to their practices.