Don’t dismiss those hard earned reward points, pass them on!
Readers of this blog are likely power-users of their own loyalty programs. We work in the incentive, loyalty, or gift card industries; so we know how they work and we know how valuable these points are.. But did you know that they are valuable enough to pass along in your will? Although rules vary from program to program, many major airline rewards programs allow loyalty program participants to share their accrued points with fellow program members. That’s what is in it for YOU; what’s in it for YOUR Company’s loyalty program? “The biggest incentive is continued customer loyalty. By allowing these types of transfers, companies would either (1) gain new customers to make up for those they have lost or (2) cement customer loyalty to their programs by showing customers just how much they care about their continued business.” says
Payments.com in their article
Card and Airline Rewards: ‘Till Death Do Us Part (Or Not).
Check out the article for a list of airline and credit card programs that participate in passing along of rewards when you pass-on. If you are a loyalty program power user or you are administering a loyalty program, you’ll likely be interested in Gerry Beyer’s (Texas Tech University School of Law) insights from the new report,
“Rewards from the Grave,” which he co-authored with Mikela Bryant of the "Estate Planning and Community Property Law Journal."
