LAS VEGAS, Oct. 2, 2018 /PRNewswire/ -- Ladder, the company reinventing life insurance to be instant, simple and smart for today's consumers, has announced the launch of Ladder @ Work: a program that will enable forward-thinking companies to offer affordable, portable life insurance benefits to their teams, with LadderLifeTM individual term life insurance.* With Ladder @ Work, companies can offer employees term life insurance coverage that they can take with them and adjust over time. As workplaces continue to evolve and progressive employers evolve their compensation and benefits philosophies, Ladder's fully-digital, consumer-centric approach to life insurance is a natural fit.
"At Ladder we firmly believe in empowering employees to build a solid foundation for their finances - and we're not alone," said Jeff Merkel, Ladder co-founder and head of business development. "After receiving numerous inquiries from like-minded companies who are interested in offering LadderLife insurance to their employees, we built a program to enable these employers to redefine what it means to 'benefit' their team members."
Ladder @ Work extends Ladder's instant, simple and smart life insurance platform to companies who are interested in diversifying their employee benefits package. Ladder has built proprietary technology from the ground up, enabling the company to create new solutions that meet the needs of other innovative companies and their employees. Ladder @ Work provides participating companies with a simple platform that makes it easy to get their workplace set up and to make adjustments over time, giving employees access to all of Ladder's digital tools.
While many companies offer life insurance as part of their benefits plans, company-sponsored life insurance coverage, alone, is often not enough to adequately cover the employee and their loved ones in the event of a tragedy. Furthermore, this coverage is typically not portable, meaning: employees don't get to take it with them over time, as they change jobs. Traditional, fixed, company-sponsored group life insurance can lead people to think they have coverage in perpetuity when, in actuality, they may be underinsured or completely uninsured between jobs. Because life insurance premiums may increase as people grow older, applying for individual life insurance coverage outside of what may or may not be offered through an employer can be more costly later in life.
Ladder understands that reinventing life insurance involves much more than simply making the process digital - it requires introducing a new approach that meets the needs of today's consumers. With this in mind, the Ladder team has redesigned and given careful thought to every element involved in helping customers get their life insurance in place: from the insurance product design and pricing to marketing, risk assessment, user experience, and now - with the introduction of Ladder @ Work - company-offered benefits programs.
Employers who are interested in learning more about introducing Ladder @ Work to their company can visit www.ladderlife.com/work.
*LadderLife individual term life insurance policies are issued by Fidelity Security Life Insurance Company and are available in all states including the District of Columbia, except NY.
Ladder is life insurance built to be instant, simple, and smart. Founded in 2015, Ladder has designed a digital-first life insurance platform to serve today's financially savvy consumer. Ladder has raised a total of $54M in funding from investors, including RRE Ventures, Canaan Partners, and Lightspeed Venture Partners. For more information visit: www.ladderlife.com/about.
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