Lincoln Financial Launches New Tool, Helping Parents Prepare Earlier, With Personalized Guidance for Growing Families

Published 3 months ago via Business Wire

Lincoln’s new offering, part of its workplace benefits solutions, helps parents prepare for their parental and bonding leaves and support employers in their leave planning guidance.

Before a new baby or sibling arrives, parents want to know they have a parental leave plan in place that will support them as they savor precious moments, navigate surprises and learn how to juggle work with their new lives. Many parents begin planning four months ahead of their child’s due date to bring a clear plan into view1, and the vast majority — 90% of employees surveyed — value personalized, digital guidance to help them make the most of their workplace benefits – which are often particularly important during this time.2

To help parents and families prepare for this life-changing time, Lincoln Financial (NYSE: LNC) is launching new leave planning and education services with PERKY, a leader in digital planning technology. With PERKY’s user-friendly, digital tool, PERKY Leave, expecting, adoptive and fostering parents can receive personalized support to plan sooner and better understand their leave options.

Employers also benefit, as PERKY’s guidance helps educate employees and outlines their leave options quickly and efficiently — streamlining employers’ leave planning process and reducing the number of basic leave questions for their human resources teams. When parents have access to educational resources that help them understand their benefits, they’re often more satisfied with their employers’ offerings. Increased understanding of benefits can tie directly to employees’ satisfaction with their workplace benefits. More than 50% of employees surveyed who said they understood their benefits very or extremely well were also satisfied with them.3

“We understand how important it is for employers and employees to feel confident and prepared for key life events, particularly when adding a new member to the family,” said Kerry Brooks, Lincoln Financial’s Group Protection Head of Account Management. “We’re proud to offer a solution that supports employers in educating employees on leave benefits, while also ensuring their employees have a guided, hands-on experience so they can confidently plan for one of life’s biggest milestones.”

Through PERKY Leave, expecting parents can plan and manage parental and bonding leaves using the following features:

  • On-demand pre-claims information: Helps employees understand what benefits are available — such as job protection and income replacement — and the value of these benefits while planning their leave.
  • Self-serve planning: Makes it easy for employees to explore their options and map out their optimal leave plan.
  • Interactive calendar: Offers customized configuration including both company-offered family bonding leave benefits and state and federal protections.
  • Lincoln-specific action items for employees: Guides employees through pre-claim leave planning and claim filing.

Lincoln will continue to work and develop solutions with strategic partners to support specific customer needs and its broader employee base.

About Lincoln Financial

Lincoln Financial helps people to plan, protect and retire with confidence. As of December 31, 2023, approximately 17 million customers trust our guidance and solutions across four core businesses — annuities, life insurance, group protection, and retirement plan services. As of June 30, 2024, the company had $311 billion in end-of-period account balances, net of reinsurance. Headquartered in Radnor, Pa., Lincoln Financial is the marketing name for Lincoln National Corporation (NYSE: LNC) and its affiliates.

LCN-7011258-091224

1 PERKY Leave: https://www.perkytech.com/perky-leave/

2 Harnessing Growth and Seizing Opportunity: 2023 Workforce Benefits Study, LIMRA and EY, 2023.

3 2023 BEAT Study: Benefits and Employee Attitude Tracker, LIMRA.

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