AXA Equitable Life Insurance Company has launched two new video calculators featuring financial consultants who help guide users through the process of determining how long their retirement savings may last or how much life insurance coverage they may need to protect their families' future.
The video calculators provide users with an interactive experience where they receive a sort of virtual consultation. In one calculator, financial consultant David Tornetto shows users how savings may grow until retirement and how withdrawals may impact savings during retirement, accompanied by an adjustable calculator which estimates savings. In the other caculator, financial consultant Char Granstra navigates users through a process to assess how much life insurance coverage they may need to replace their income.
"Our video calculators provide people with more than just a figure of how much money they might need for a particular life event," said Andrew McMahon, president of AXA Equitable Life Insurance Company in a statement. "These calculators, featuring real financial professionals, simulate what they can expect in an initial conversation with a financial consultant.
McMahon added that the videos may help prepare people for meeting with a financial professional face-to-face and make them more comfortable with the idea, hopefully encouraging them to take the next step and make an appointment.
In the videos, the financial consultants take users through a step-by-step process to determine how long their retirement savings may last or how much life insurance coverage they may need based on their life stage, current financial situation, and future goals. If a user has a question or needs more information about a particular term or topic, they can click on a button and the financial consultant explains the topic and provides guidance in greater detail.
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