NAICS Code 524298-18 - Insurance-Estate Planning

Marketing Level - NAICS 8-Digit

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Looking for more companies? See NAICS 524298 - All Other Insurance Related Activities - 3,539 companies, 77,299 emails.

NAICS Code 524298-18 Description (8-Digit)

Insurance-Estate Planning is a subdivision of the NAICS Code 524298 that involves providing insurance products and services to individuals and families for the purpose of estate planning. Estate planning is the process of arranging for the transfer of an individual's assets after their death in a way that minimizes taxes and maximizes the value of the estate for the beneficiaries. Insurance-Estate Planning companies offer a range of insurance products that can be used to achieve these goals, such as life insurance, annuities, and long-term care insurance. These products can be used to provide income for beneficiaries, pay off debts and taxes, and cover the costs of long-term care.

Parent Code - Official US Census

Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 524298 page

Tools

Tools commonly used in the Insurance-Estate Planning industry for day-to-day tasks and operations.

  • Estate planning software
  • Life insurance calculators
  • Annuity calculators
  • Long-term care insurance calculators
  • Trusts
  • Wills
  • Power of attorney forms
  • Health care directives
  • Life insurance policies
  • Annuity contracts
  • Long-term care insurance policies
  • Tax planning software
  • Financial planning software
  • Investment management software
  • Retirement planning software
  • Asset protection strategies
  • Charitable giving strategies
  • Business succession planning strategies

Industry Examples of Insurance-Estate Planning

Common products and services typical of NAICS Code 524298-18, illustrating the main business activities and contributions to the market.

  • Life insurance for estate planning
  • Annuities for estate planning
  • Long-term care insurance for estate planning
  • Trusts for estate planning
  • Wills for estate planning
  • Power of attorney for estate planning
  • Health care directives for estate planning
  • Estate planning for high net worth individuals
  • Estate planning for families with special needs
  • Estate planning for business owners

History

A concise historical narrative of NAICS Code 524298-18 covering global milestones and recent developments within the United States.

  • The Insurance-Estate Planning industry has a long history dating back to the early 20th century when life insurance policies were first used as a means of estate planning. In the 1920s, the industry saw significant growth as more people began to recognize the importance of estate planning and the role that life insurance policies could play in it. In the 1960s, the industry experienced another surge in growth as the introduction of new financial products, such as annuities and trusts, made estate planning more accessible to a wider range of consumers. In recent years, the industry has continued to evolve with the introduction of new technologies and the growing demand for personalized estate planning services. In the United States, the Insurance-Estate Planning industry has seen significant growth in recent years due to a number of factors. One of the key drivers of this growth has been the aging of the baby boomer generation, which has led to an increased demand for estate planning services. In addition, the industry has benefited from the growing popularity of online estate planning tools, which have made it easier and more affordable for consumers to create and manage their estate plans. Finally, the industry has also seen increased competition from non-traditional players such as financial advisors and online legal services, which have entered the market with new and innovative approaches to estate planning.