Footprint Connect

The missing link in employee wellbeing

Footprint Connect

What is Footprint Connect?

Footprint Connect is an employee benefit platform designed to improve the financial literacy of your employees in relation to Wills and estate planning. It also provides a unique product range of Wills and Will packages that cover probate and estate administration.

All Footprint products can be reached via our secure online environment. We have made the language and content of our site relatable and easy to understand, and of course, as we are digital, all information and online resources are available 24/7.

Footprint Connect is designed to plug into any existing wellness/employee benefit programme. From an administration perspective, the commitment is incredibly small. Just upload a CSV file monthly or yearly (the choice is yours) and our automated system does everything from invoicing, contacting and on-boarding employees, to acknowledging when they have left the programme and offering continuation options.

Footprint Connect:

Does not discriminate on age, gender or health. All our products are available to everyone.
Does not provide financial advice. But if you need some we can refer you to a professional.
Does not provide any insurance products, however we can refer you to someone who can.
Does not encourage the use of an online Will for complex situations. We ask a specific set of questions during registration to identify those with complex needs. If complexity is evident, we stop the process and provide the option to be referred through to our sister company, Perpetual Guardian, for a consultation. Less than 1% of those using the Footprint platform are considered complex.

If you would like a copy of the Footprint Connect standard contract and terms please contact us

Why include a Will as an employee benefit?

Wills and estate administration are key to protecting and supporting employees. Many employers are spending thousands of dollars on life insurance and KiwiSaver without realising the importance of coupling this with a Will.

Employee benefits such as life insurance and KiwiSaver are usually defined as a personal asset (belonging to one specific person, not a joint asset). Many people don’t realise when they pass away these assets are not immediately available to their loved ones. Additionally, if they pass away without a Will the time and cost to access these funds increase by an estimated 50%. To give that perspective, this could mean an estate administration fee upwards of $15,000 and over 12 months before any funds can go to beneficiaries.

Footprint Connect teaches your employees all the “need to know stuff” about Wills and estate administration, including how these work together with KiwiSaver and group life insurance. We also discuss the structure of bank accounts and what can be done to avoid losing access to funds if your spouse’s/partner’s estate is being administered.

Why is estate administration important?

A whopping 81% of people either don’t know or are unsure what estate administration is, yet at some point in time they will either directly or indirectly be impacted by it. It doesn’t matter if the selected executor is a professional, a friend or a family member, 100% of Wills require estate administration.

Estate administration involves settling debts, finding and contacting beneficiaries, closing accounts, completing tax returns, transferring or selling property, applying for probate - and much more.

The cost of estate administration

The average cost for estate administration in New Zealand is $10,000. The traditional way of charging for estate administration is either time and cost, or as a percentage of a person’s assets, which will then be charged against their estate. This amount varies, but presently sits around 2.5% on average. Assets can be many things including property, savings, investments, antiques and more - basically the higher the value and volume, the more you pay in fees.

Research Snapshot

In 2018, 1339 New Zealanders were surveyed about their knowledge on Wills and estate administration. In 2019, we conducted another survey focused on the full time employed. The combined information tells an interesting story.

View infographic

Benefits to Employers

Footprint Connect plugs into any existing wellbeing programme
It improves employee financial literacy
Includes learning labs that can be aligned to employee induction and wellness programmes
Contains exclusive pricing
Offers co-branded communication opportunities reminding employees of their benefit
Provides an easy on boarding process with minimum administration
Contributes to improved employee engagement, productivity, attraction, and retention
Demonstrates care and consideration for employees and their families

Benefits to Employees

Improves financial literacy
Puts a plan in place and provides peace of mind knowing loved ones will not endure unnecessary delays or additional costs
Gives access to immediate professional support in situations where estate administration has been included
Provides access to unique product packages not presently available anywhere else
Offers the ability to "top up" to other products, providing greater value and benefits
24/7 access to digital tools and resources
Option to continue with Footprint after leaving the employer
Spouse/partner discounts
A Bring Your Own (BYO) Will option is available to those who already have a Will. Depending on the product package selected, employees can still get a Footprint Will every year, with access to the digital vault, physical Will storage and estate administration servics

Learning Labs

New Zealand has a serious knowledge gap when it comes to Wills and estate administration. For this very reason we provide Learning Labs with all our Footprint Connect packages. Labs can be on site or at a convenient location nearby and can also be aligned to induction or wellness expos.

Our learning labs are designed to cover all the need to know stuff:

What is an asset?
What is an estate?
What can happen if you don't have a Will?
The role of an executor and what they do.
What is involved in estate administration, tasks and costs?
How a Will can impact KiwiSaver and group life insurance.
What to consider when it comes to personal and joint assets.
How appointing a guardian for your child is different from gaining custody.
Everything you need to consider when completing a Will.

What we offer

There are three different packages to select from, including an option where employees can choose to “top up” and contribute to the base subscription package (Will It) for increased estate administration benefits.

All three packages can be supported by optional (and recommended) Learning Labs.

Will Package
Will It Package
Single Will

An online Will
An annual online Will update
An estate administration package valued at $10,000
Access to a digital vault for storage
Physical storage of the original Will
Service support (by our team)
All Wills reviewed by a professional Will drafter

^$6^.50per person, per month

Register

Talk to us about your needs

We know everyone has different needs and expectations, talk to us about what’s right for you and we’ll make a plan together.

Footprint Connect is the missing link in your employee benefits programme and most financial literacy conversations.

Footprint Connect

The missing link in employee wellbeing