Insurance is a safety blanket. A means to financially safeguard loved ones after you’re gone. But have you considered how it impacts the environment?
Most people don’t. But the companies behind these policies spend billions — even in industries not known for being very environmentally friendly. The good news? You can make a difference. Your life insurance can go green, too.
Already have a policy? Here’s how to do it in a more eco-friendly way.
Change to an Insurer with Responsible Investments
Did you know that most insurance companies choose to invest in fossil fuels, deforestation, and other polluting industries? Not all, though. Some focus on ethical investments — that is, investing in renewable energy, sustainable businesses, social good, and so forth.
Returning to a new insurer may seem like a pain, but it can be easier than one might expect. Invest in companies that are transparent about their practices. Aim for insurers that have strong ESG (Environmental, Social, and Governance) Commitments. A few have sustainability reports online.
Not ready to switch? No problem. Reach out to your current insurer and inquire about their investment policies. If a demand for change is apparent, expect them to transition to greener practices.
Opt for Paperless Policies
Imagine all the paper waste that goes into insurance documentation. Policy contracts, renewal notices, claims forms — mountains of paperwork traded back and forth.
After all, most insurers are now providing digital policies. And if it does, going paperless is a simple, eco-conscious step.
It’s not merely about saving trees. Going digital means:
Less ink and printing waste.
Less carbon emitted from mail transportation.
Access to your documents is now faster, easier.
If you have your insurance saved, log into your insurer’s portal or call them up. Request to have all of the documents emailed to you. A little switch, but it all adds up!
Offset the Carbon Impact of Your Policy
Even if your insurance company isn’t fully green, you can take ownership of the issue. Carbon offset programs enable you to neutralize the environmental impact of your policy.
Here’s how:
Estimate the impact of your policy — Some organizations offer online tools that will help you estimate the carbon footprint of financial products.
Invest in carbon offsets – Help whip up reforestation, clean energy, or carbon capture projects.
Find insurers that provide offsets — A handful of insurers automatically incorporate carbon-neutral initiatives into their policies.
It’s like a balancing act. Your policy may be increasing emissions, but you can do your part to neutralize it.
Investing in Insurers Funding renewable energy
Insurance companies have a lot of money power. Their money transforms entire industries. The world could achieve sustainability more quickly if more of them invested in renewable energy.
You can help make that happen.
Choose insurers that:
Invest in solar and wind energy projects
Disinvest from coal and oil.
Collaborate with environment-friendly projects.
Some companies showcase their renewable energy investments. Others? Not so much. Do your research. Read their sustainability reports. When in doubt, ask questions. If enough people ask for better practices, the industry has to respond.
Support Sustainable Insurance Practices
Your voice matters. And one person asking questions might not change things—but thousands will.
Ways to advocate:
Speak with your insurer – Ask them about their sustainability commitments.
Advocate for green policies – Support insurance companies to implement sustainable underwriting policies.
Raise awareness — Share what you learn with your family and friends.
You don’t need to be an activist to have an impact. Simply being an aware policyholder helps nudge the industry in the right direction.”
Small Changes, Big Difference
Greening your life insurance doesn’t require an overhaul. Sometimes it is the littlest things you choose:
Moving over to a more sustainable insurer.
Going paperless.
Offsetting carbon footprints.
Supporting renewable energy.
Advocating for greener practices
And one policyholder is unlikely to change the world overnight. But thousands? Millions? That’s a movement. And that’s how real change happens.”
Your policy safeguards the future. So why not ensure that it protects the planet as well?