Advisors using Envestnet | MoneyGuide
will now have the ability to offer clients digital term life
insurance via a fast & seamless digital experience
BERWYN,
Pa., Jan. 24, 2024 /PRNewswire/ -- Today
at the T3 Technology Conference, Ladder, the insurtech offering
digital, flexible life insurance in minutes announced an
integration with Envestnet | MoneyGuide, a leading financial
planning software company serving over 107,000 financial advisors.
This will empower more financial advisors with the capabilities to
provide clients with term life insurance issued by reputable
insurers.
With this partnership, financial advisors utilizing Envestnet I
MoneyGuide Elite's Advanced Lifetime Protection tool will be able
to offer their clients digital, convenient, and affordable term
life insurance. Financial advisors will be able to estimate
clients' coverage needs, generate a quote, and send clients a link
to apply—all from within the Envestnet | MoneyGuide platform.
MoneyGuide's Advanced Lifetime Protection tool is designed to
illustrate how a clients' protection needs can change over
time. This tool may help advisors identify an opportunity to
improve a client's probability of successfully achieving the goals
in their client's financial plan.
"Life insurance is a critical piece of a comprehensive financial
plan," says Mike Izakov, Head of
Financial Institution Partnerships at Ladder. "We believe
MoneyGuide has the most robust planning tool in the industry, and
we're excited to make it even easier for advisors to get clients
the coverage their plans call for."
With Ladder's industry-leading digital capabilities and
proprietary flexible coverage (i.e. "laddering"), advisors using
Envestnet | MoneyGuide will be able to utilize a visualization
showcasing how a strategically laddered Ladder policy may save
clients up to 40%* over a 30-year term compared to traditional term
coverage.
"Envestnet's generational research shows that a surprising 50%
of Baby Boomers are not formally organizing their long-term
finances," said Rose Palazzo, Group
President of Envestnet Financial Planning. "Through our
partnership with Ladder, our advisors are better equipped to help
their clients take action on organizing their financial plans,
including the important step of seeking to secure their financial
futures through life insurance coverage. Ladder provides our
advisors with digital access to term life insurance
products, with an integration built right into our protection
planning solution."
Ladder offers term life insurance for coverage between
$100,000 and $8 million, for terms ranging from 10 to 30
years. There are no medical exams required for coverage up to
$3 million, just questions about an
applicant's health are asked. The pricing is fully underwritten and
backed by reputable carriers. Ladder offers a variety of
partnership and compensation models to meet the needs of fee-based
and insurance-licensed financial advisors.
For more information, visit moneyguidepro.com and
ladderlife.com/advisors.
About Ladder
Ladder is the first full-stack, digital
life insurance company offering flexible online term coverage in
minutes that can save policyholders up to 40%* by adjusting their
coverage as their life changes. Ladder uses real-time underwriting
to make life insurance as accessible, affordable, and beloved as it
should be. The company is headquartered in Palo Alto, CA, and offers coverage up to
$8M with no hidden fees.
*Savings in premium compared with the same customer
maintaining their full coverage amount for the policy term. Savings
attained by decreasing coverage every three years over the policy's
full term on a $1.4M, 20-year policy.
Not all prices will reduce proportionally.
Ladder Insurance Services, LLC (CA license # OK22568; AR
license # 3000140372) distributes term life insurance products
issued by multiple insurers – for further details
see ladderlife.com. All insurance products
are governed by the terms set forth in the applicable insurance
policy. Each insurer has financial responsibility for its own
products. 240123-3345459
ABOUT ENVESTNET
Envestnet is transforming the way financial advice is delivered
through an ecosystem of technology, solutions, and intelligence. By
establishing the connections between people's daily financial
decisions and long-term financial goals, Envestnet empowers them to
make better sense of their finances and live an Intelligent
Financial Life™. With more than $5.4 trillion in platform
assets—more than 107,000 advisors, 16 of the 20 largest U.S. banks,
48 of the 50 largest wealth management and brokerage firms, more
than 500 of the largest RIAs, and thousands of companies, depend on
Envestnet technology and services to help drive better outcomes for
their businesses and for their clients. Data as of 9/30/2023.
Envestnet refers to the family of operating subsidiaries of the
public holding company, Envestnet, Inc. (NYSE: ENV).
For more information, please visit www.envestnet.com,
and follow us on LinkedIn and X
(@ENVintel).
Ladder and Envestnet | MoneyGuide are separate and unaffiliated
firms. This material should not be construed as a recommendation or
endorsement of any particular product, service, individual or firm.
Envestnet | MoneyGuide is not a licensed insurance agency and as
such, does not sell or make any recommendations related to the
purchase of the insurance products referred to in this press
release Insurance products are only sold or recommended by
insurance licensed financial professionals or through a third-party
intermediary licensed as an insurance agency.
Media Contact:
Laura Simpson
envestnetpr@jconnelly.com
(973) 713-8834
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SOURCE Envestnet