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Available in all 50 states, Ladder is a life insurance agency specializing in flexible term life insurance policies. Policyholders can purchase coverage anywhere from $100,000 to $8 million, with the option to adjust their coverage amount at any time during their term. If you’re a U.S. citizen (or a lawful permanent resident for at least two years) between the ages of 20 and 60 years, you can apply for a term life insurance policy through Ladder, with terms ranging from 10 to 30 years in 5-year increments.
We often recommend Ladder life insurance especially for younger Americans because of its affordability and adaptability. Policies offered through Ladder start at just $5/month*, likely making it easy to manage premiums within the monthly budget.
We also love Ladder because it’s possible to adjust your coverage amount while keeping your policy. As policyholder's financial realities change, they can apply to increase their coverage or decrease their coverage with just a few clicks online. A policyholder can "Ladder down" coverage when their kids graduate from college or they've paid off their mortgage, or "Ladder up" as they save for retirement, buy new property, or perhaps start a family.
| Pros | Cons |
|---|---|
| Policyholders can alter their coverage amount at any time. | Medical exams may be required for coverage over $3 million. |
| The majority of applicants can apply 100% online, with no medical exam required.** | No riders or other add-on options are available. |
| Policyholders can request a broad range of coverage, from $100,000 to $8 million. |
While life insurers sometimes offer multiple different policy options, which vary by type (e.g. term, whole) or perks, Ladder specializes in one policy type: individual term.
Individual Term Life Insurance is a contract in which an insurer, in exchange for a premium, guarantees payment (called the “death benefit”) to an insured’s selected beneficiaries (usually family members) when the insured dies. The contract only lasts for the length of the term: if the term ends before the insured’s death, the contract ends and there is no death benefit to pay to the beneficiaries.
Ladder offers term life insurance policies with terms that range from 10–30 years and can provide $100K–$8 million in coverage. Every policy is flexible, meaning customers can adjust coverage throughout the life of their policy. Pricing starts as low as $5/month* for term life insurance, but pricing will vary policyholder to policyholder.
At this time, Ladder does not allow multiple people to be insured under one policy. All applicants can only insure themselves, meaning they cannot sign up a friend or family member for coverage.
Life insurance through Ladder provides financial protection to a policyholder’s friends and family (called “beneficiaries”) in the event of the policyholder’s accidental or natural death. It does not provide coverage for the policyholder’s death by suicide in the first two years of the contract.
Situations involving fraud, misrepresentation, or crimes will be investigated and may result in a denial of coverage.
If you’re new to life insurance, Ladder offers a helpful variety of tools and modules to help you find the perfect coverage:
Ladder applicants must meet the following requirements:
Ladder has a customer rating of 4.8/5.0 on Trustpilot (as of 11/8/2022), which is considered “Excellent.”
Of the 2,322 reviews, many of the positive reviews cite the simplicity of applying and affordability of the product as the company’s best features.
Life insurance pricing varies greatly from person to person, as underwriters base an applicant’s personal features such as age, gender, BMI, smoking habits, location, and other factors.
As pricing varies from applicant to applicant, we recommend that interested readers get a free quote directly from Ladder’s website.
Most applicants can purchase a term life insurance policy from Ladder in about five minutes.
Applicants start by filling in some personal information to get a free quote. Applicants are asked to fill in their location, age, gender, BMI, smoking habits, preferred coverage amount, and other policy-relevant questions.
After receiving their quote, filling out the application is easy: the same customer information customers submit to get a quote will be pre-filled on the application. Most applicants who are approved hear back from Ladder instantly.
If accepted, customers can activate their coverage right away.
Applicants seeking $3 million in coverage may be required to get a medical exam.
How long has Ladder Life Insurance been around?
Ladder was founded in 2015 and began offering life insurance in 2017.
What type of life insurance does Ladder offer?
Ladder offers individual term life insurance with coverage amounts ranging from $100,000 to $8 million.
Is Ladder reputable?
Ladder has a 4.8/5 TrustScore on Trustpilot (as of 11/9/22). Ladder was also named to the 2022 CB Insights Insurtech 50 List of Most Innovative Insurtech Startups, which showcases the 50 most promising private insurtech companies across the globe.
We highly recommend Ladder to our readers, especially if those readers are in their 20s or 30s. Ladder’s mix of affordability, adaptability, and simplicity makes its policies great for people who expect their coverage needs to change over time. Customers can request a quote, apply for coverage, and, if approved, get accepted for coverage in as little as five minutes in a completely online process.
* $5/month price based on a 20 year old female with a preferred plus rating, 10 year term, and $100,000 in coverage. Actual prices may vary. Rate valid as of 10/15/22.
**While medical exams may not be required, certain health information is required as part of the application to determine eligibility for coverage.
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.
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