Fintech unicorn SoFi announced on Thursday it is expanding its partnership with life insurance platform Ladder to include estate planning. SoFi reported that through the partnership expansion, its members may now have the ability to draft their will for free and can also access legal services and more complex estate planning needs, which includes setting up a living trust and establishing power of attorney for an additional cost.
SoFi also revealed that due to the uncertain times caused by the COVID-19 pandemic, it is continuing to be committed to helping its members manage their financial needs for every stage of their lives.
“While it may seem like a stressful task, creating a will offers reassurances that your assets will be handled according to your wishes. With the addition of an estate planning member benefit, SoFi and Ladder hope to bring members confidence as they prepare for their family’s future.”
SoFi then noted that the partnership with Ladder is powered by online legal document platform NetLaw to provide a way for SoFi members to obtain estate planning documents that may be used to draft a will for free. SoFi members may access this benefit from the SoFi Protect life insurance page. SoFi added:
“SoFi members will also have the ability to store documents in a secure online document vault and make unlimited revisions to their will. Those members who wish to obtain legal services or have more complex estate-planning needs, like setting up a trust or power of attorney, will be able to assemble those services and documents as well, for an additional cost.”
SoFi members may also apply for life insurance coverage through Ladder that has competitive pricing, is quick to set up, and easy to understand. Members are able to get access to flexible coverage that ranges from $100,000 to $8 million and 10 to 30 years, with the option to adjust at any time.