Providing Optimal Protection through the Life Planning Support Service (LiPSS)

When proposing protection products, Sony Life first asks customers about their lifestyles and future life plans. As each member of a family paints a picture of the life that he or she envisions for several years in the future, an image of the customer’s life and way of thinking begins to form. On the basis of the picture that a customer paints of his or her future, the best way to ongoing future protection also grows clearer.

However, life is long and ever-changing, and people require solid insurance coverage throughout their entire lives. Helping to bridge the gap between specific coverage and an uncertain future is our Life Planning Support Service (LiPSS) software.

This software plan allowances for contingencies so that the life plan of a customer’s family does not go awry even if the unexpected occurs, and clearly estimates the amount of coverage needed to offset economic risks given a customer’s future lifestyle. In short, LiPSS helps ensure high-quality products that offer peace of mind.

Life Planning

Eliciting Customers’ Dreams and Goals through Life Planning

The first step is to learn the life paths a customer and his or her family intend to follow, as well as their dreams and goals. When forecasting the future, we look at this picture as seen by every member of a family. In light of the goals for the future that a customer projects, we create a Life Plan Chart that maps out these dreams and goals on a time axis.

Life Plan Chart Considerations

Life Plan Simulation

Simulation of a Family’s Future Income and Expenses

Next, we look at the potential changes in a family’s income and expenses as they progress according to the life plan they have created. By comparing projected income and expenses on a yearly basis, we confirm whether the life plan is viable financially. By considering the balance between income and expenses and prioritizing expenditures, we prepare plans to set aside cash for school fees, advise customers of their leeway for purchasing a home and suggest the possible acceleration of mortgage payments.

Simulation of Household Finances if the Unexpected Occurs

Next, we run a trial calculation of a family’s hypothetical income and expenses in the event of the unexpected.
We take an overall look at such considerations as whether the family could maintain its life plan if it needed to rely on the income of the other spouse or a survivorship pension and determine potential cash excesses or shortfalls.

Insurance Planning

Consulting Services Based on Life Plans

Factors that must be considered are whether, in the case of untimely death, the bereaved family would be able to live comfortably according to their life plan or whether additional money would be needed. Based on the results of the customer’s life plan and these simulations, our insurance professionals—Lifeplanner sales employees and Partners—analyze and consider 11 financial needs^* from various angles before offering advice to the customer. If any upcoming economic risks are evident, we propose protection that is optimally tailored for each individual customer.