Quick Answer: Ladder Life Insurance offers affordable term life coverage from $100,000 to $8 million with a fully online application and no medical exam required for policies up to $3 million. The company’s standout feature is “laddering,” which lets you adjust your coverage up or down as your needs change. Policies are underwritten by A-rated carriers including Allianz and Fidelity Security Life.
If you’ve been researching life insurance online, you’ve probably come across Ladder. They’re one of several “insurtech” companies that have changed how people buy term life insurance.
Here’s the thing: buying life insurance used to mean sitting down with an agent, filling out stacks of paperwork, and scheduling a medical exam. Ladder has simplified that process considerably. But is their approach right for you?
After 30+ years helping clients find the right coverage, we’ve learned that the best insurance company depends entirely on your situation. Let’s break down what Ladder offers, where they excel, and where you might want to look elsewhere.
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Note: We’re not affiliated with Ladder. If you need to reach them directly, call (844) 533-7206 or visit LadderLife.com.
Who Is Ladder Life Insurance?
Ladder launched in 2017 as a digital-first life insurance company based in Palo Alto, California. Their mission was simple: make term life insurance faster, easier, and more affordable by cutting out the traditional agent model.
The company doesn’t actually underwrite policies themselves. Instead, your coverage comes from one of four established insurance carriers:
- Fidelity Security Life Insurance Company (A.M. Best: A)
- Allianz Life Insurance Company of North America (A.M. Best: A+)
- Amica Life Insurance Company (A.M. Best: A+)
- S.USA Life Insurance Company (A.M. Best: A-)
This is actually good news for policyholders. These carriers have decades of experience paying claims, so Ladder’s relatively young age isn’t a concern when it comes to financial stability.
What Does Ladder Offer?
Ladder keeps things simple. They sell one product: term life insurance. No whole life, no universal life, no annuities. Just term coverage.
Here’s what’s available:
- Coverage amounts: $100,000 to $8 million
- Term lengths: 10, 15, 20, 25, or 30 years
- Eligible ages: 20 to 60 years old
- Medical exam: Not required for coverage up to $3 million
One important detail: your available term length depends on your age. If you’re 55, for example, you can only get a 15-year term because Ladder won’t cover anyone past age 70. Keep this in mind when planning your coverage.
The “Laddering” Feature
This is what makes Ladder different from traditional term insurance. With most companies, once your policy is issued, your death benefit is locked in for the entire term. Need more coverage? You’ll have to buy a new policy. Need less? You’re stuck paying for coverage you don’t need.
Ladder lets you adjust your coverage amount whenever your circumstances change. Had another baby? You can increase your death benefit (subject to underwriting approval). Kids graduated and mortgage is paid off? You can reduce your coverage and lower your premium.
We’ve found this flexibility appeals to younger families whose insurance needs change frequently. It’s a genuine differentiator in the term life market.
Ladder Life Insurance Rates
Because Ladder doesn’t pay agent commissions, their rates tend to be competitive, especially for healthy applicants under 60.
Here are sample monthly rates for a healthy 35-year-old non-smoker with a 20-year term:
| Coverage Amount | Monthly Premium |
|---|---|
| $250,000 | $18-22 |
| $500,000 | $24-30 |
| $1,000,000 | $42-50 |
These are estimates based on current market rates. Your actual premium depends on your age, health, occupation, and other factors. Get a quote directly from Ladder for accurate pricing.
What Customers Say About Ladder
Customer feedback has been overwhelmingly positive. On Trustpilot, Ladder holds a 4.8 out of 5 star rating based on nearly 3,000 reviews. Most customers praise the simple application process and affordable rates.
The Better Business Bureau gives Ladder an A+ rating, and the company has received minimal complaints according to the National Association of Insurance Commissioners.
We’ve noticed the negative reviews typically come from applicants who were declined coverage due to health conditions or weight. Ladder’s underwriting can be strict, so if you have significant health issues, you may want to work with an independent agent who can shop multiple carriers.
Ladder Life Insurance Pros and Cons
What We Like About Ladder
Ladder does several things well. Their online platform is genuinely easy to use, and most applicants can get approved in minutes without scheduling a medical exam. The ability to adjust coverage up or down is unique in the term life market. And because policies are underwritten by established carriers, you’re not taking a risk on a startup’s financial stability.
What Concerns Us About Ladder
The limitations are real. Ladder only sells term life insurance, so if you want permanent coverage or cash value accumulation, you’ll need to look elsewhere. There are no riders available to customize your policy, including no accelerated death benefit rider. The term conversion option isn’t available, which matters if you think you might want permanent coverage later.
Customer service hours are also limited. You can only reach their team by phone Monday through Friday from 9 a.m. to noon Pacific Time. If you need help outside those hours, you’re limited to email.
And if you’re over 60, Ladder isn’t an option at all. The company doesn’t issue new policies to anyone past their 60th birthday.
Is Ladder Right for You?
Ladder works well for healthy people under 60 who want straightforward term coverage and prefer handling everything online. If you value convenience, competitive rates, and the flexibility to adjust your coverage, Ladder deserves a look.
Ladder probably isn’t right for you if you have health conditions that might require specialized underwriting, want permanent life insurance or cash value, need policy riders like accelerated death benefit, prefer working with a local agent, or are over 60 years old.
Frequently Asked Questions
Does Ladder offer whole life or permanent insurance?
No. Ladder only sells term life insurance. If you want coverage that builds cash value or lasts your entire lifetime, you’ll need to consider other options like indexed universal life or traditional whole life policies.
Can I convert my Ladder term policy to permanent insurance?
No. Ladder doesn’t offer a term conversion option. With many other carriers, you can convert your term policy to permanent coverage without new medical underwriting. This is an important consideration if your needs might change.
What happens when my Ladder policy expires?
You can renew for up to 5 years after your initial term ends, but your premium will increase significantly based on your age at renewal. If you’re over 60 when your term expires, your coverage ends and you won’t be able to get a new Ladder policy.
Does Ladder require a medical exam?
For coverage up to $3 million, no medical exam is required. You’ll answer health questions during the online application, and Ladder uses that information along with other data sources to make underwriting decisions. Coverage above $3 million requires an at-home health check.
Is Ladder legitimate?
Yes. While Ladder is a newer company, the policies are underwritten by established insurers with strong financial ratings. The underwriting carriers have been paying claims for decades.
Key Takeaways
- Best for: Healthy adults under 60 who want simple, affordable term coverage with an easy online process
- Coverage range: $100,000 to $8 million in term life insurance
- Standout feature: Ability to adjust coverage amounts up or down as needs change
- Limitations: No permanent insurance, no riders, no term conversion, limited customer service hours
- Financial backing: Policies underwritten by A-rated carriers including Allianz and Fidelity Security Life
Ready to explore your options? Whether Ladder fits your needs or you’d benefit from comparing multiple carriers, we’re happy to help you find the right coverage. After 30+ years in the industry, we’ve helped thousands of families protect what matters most.
