Ladder, the company that has built life insurance to be instant, simple and smart, today introduced Ladder for Advisors at the T3 Advisor Conference, the leading practice management and technology conference for independent and hybrid financial advisors.
Ladder for Advisors is a new solution that provides financial advisors with an efficient way to help their clients implement term life insurance as part of their ongoing financial planning. Life insurance is a critical component of a consumer’s overall financial plan, and advisors are relied upon to help people consider, understand and optimize their need for coverage over time.
Ladder for Advisors is designed for forward-thinking advisors who understand that life insurance is a critical component of their customers’ overall financial picture, but are frustrated with the traditional process that is typically slow and full of friction and products that lack flexibility. Not only does Ladder for Advisors provide these experts with a simple process for helping get their client’s life insurance but the solution also enables them to make life insurance an interactive component of a client’s overall financial plan. Ladder built life insurance to be dynamic so that people can easily decrease coverage at any time or apply for more, with no fees, to meet their changing needs. Now advisors can access the power of this capability to engage their clients and ensure the right amount of coverage is incorporated into their financial plan.
“Ladder for Advisors is aimed at helping financial advisors deepen their relationships with their clients by ensuring this important component of a holistic financial plan is addressed,” said Jeff Merkel, Ladder co-founder. “Ladder’s digital approach makes it easy to not only get life insurance in place instantly but to also be able to adjust it as needs change over time.”
With Ladder for Advisors, financial advisors will have access to a customized toolkit that makes it easy for them to share materials with their clients and for their clients to apply for an instant decision on fully underwritten term coverage — ranging from $100k to $8 million, from 10 to 30 years. Policies are issued by Fidelity Security Life Insurance Company.
In addition, advisors will have access to a dashboard that provides the visibility necessary to help ensure their clients have the right amount of coverage for their needs, at any given time. With this digital insight at their fingertips, advisors have a more comprehensive view of how life insurance is interacting with other pieces of a client’s overall financial plan.
“Life insurance has long been a fundamental pillar of family protection, and a key aspect of the comprehensive financial plan. But until now, financial advisors actually focused on advice and not product sales have had few ways to help their clients implement the life insurance they need,” said Michael Kitces, partner and director of wealth management at Pinnacle Advisory Group and co-founder of the XY Planning Network. “I’m excited by the rise of solutions like Ladder for Advisors, that gives independent fee-only advisors a way to help their clients implement the life insurance they need, with flexibility and transparency, and the digital experience our next-generation clients want and expect.”
Ladder for Advisors is yet another step in Ladder’s ongoing mission to ensure people have access to the life insurance coverage they need. When Ladder launched in 2017, the company recognized that building life insurance from the ground up was not simply about streamlining the process for consumers, it also meant extending the capability to easily manage coverage over time. Now, with the launch of Ladder for Advisors, partners in the financial planning space can facilitate life insurance consideration and coverage management for their valued clients.
Source: Company Press Release