Ladder, Bestow and the direct-to-consumer term brands: what clients compare you against

Clients shopping term online will see the direct-to-consumer brands before they see you. Knowing what those offer makes you the advisor instead of the competitor.

What they generally offer. Online application, quick decision on qualifying cases, no exam for many applicants, coverage that can be adjusted in some cases. Policies are issued by partner insurance carriers, which is worth explaining to clients who ask "who actually pays the claim."

Where they win. Speed and convenience for a healthy applicant who knows what they want.

Where an agent wins. Clients with anything on the health history that an algorithm declines or rates hard; fully underwritten pricing at preferred classes; laddering and conversion planning; riders; and someone to call when the claim happens. Most of your clients need at least one of those.

How to handle the comparison. Don't dismiss the online quote. Ask what it was and for what face amount. Run your comparison. Often the fully underwritten quote is close or better, and the agent adds the planning the website can't.

Platform note. Some of these brands also run agent channels; if you're contracted, the online quote the client saw may be a product you can write.

Keep current. These companies change products and business models frequently. Verify before you describe one to a client.

What's your line when a client says they got a cheaper quote online?