Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate life insurance products to write unbiased product reviews.
Ladder offers no-frills life insurance policies attractive to budget-conscious shoppers. The company highlights its laddering approach. You'll be able to adjust the face value of your policy whenever you like.
Business Insider compared Ladder Life Insurance against the best life insurance companies and found it to be a convenient option for term life insurance up to a certain age, with its entirely digital no-medical exam option and instant approval.
Ladder Life Insurance Review
Ladder is a life insurance company known for its policy flexibility. You can adjust your death benefit anytime through its proprietary tool called laddering, and your insurance premiums will change accordingly. However, Ladder doesn't offer any riders.
It's important to note that Ladder doesn't underwrite its policies. Instead, it partners with larger insurance companies, like Allianz and Fidelity, to issue cheap term life insurance policies. Ladder's service is available nationwide, including in the District of Columbia.
Ladder has some of the most affordable life insurance rates. It offers great coverage for younger applicants, but terms start waning for older applicants, starting at 40 years old. Ladder only offers 10-year terms for people 60 years old. Consider looking elsewhere if you're older than 40, want permanent coverage, or want protective insurance riders.
Ladder Life Insurance Pros and Cons
Ladder Life Insurance Pros
- Online claims form
- Lower-than-average premiums
- Up to $3 million in coverage with no medical exam required
- Adjustable death benefits and premiums
Ladder Life Insurance Cons
- Ladder doesn't underwrite its own policies
- No available riders
Ladder Life Insurance Plans and Coverage
Ladder only offers term life insurance, which doesn't provide lifelong coverage to build cash value or policy conversion. You would have to start over with a different company to get a permanent life insurance policy. So what do you need to know about Ladder policies?
Ladder Term Life Insurance
Ladder's term life insurance offers coverage from 10 to 30 years in increments of five. You can purchase a policy with a face value of $100,000 to $3 million with no medical exam required. Remember, even no medical exam policies may still factor in medical questionnaires and records.
However, you'll have to complete a medical exam if you need more coverage (up to $8 million). Applicants ages 20 to 60 may qualify for coverage, but the available terms decrease as you age.
Applicants between 41 and 50 are only eligible for up to 25 years of coverage. Applicants between 51 and 60 can purchase up to 15-year terms. Applicants who are 60 can only purchase a 10-year policy. Ladder doesn't offer policies for people older than 60.
Ladder's key feature is its eponymous laddering feature, which allows you to adjust coverage and, in turn, your premiums. For example, if you become the only breadwinner in your family, you may need a higher death benefit. On the other hand, you may lose your job and can't afford your current premiums. You can decrease your death benefit to lower your premiums. There's no limit to the number of times you can use this feature.
Additional Coverage Options from Ladder
At this time, Ladder's website specifies it does not offer life insurance riders. Its site says, "We do not offer riders because we believe that riders complicate life insurance and do not provide a significant benefit for their added cost."
Ladder Life Insurance Cost
We pulled numbers from Ladder's quoting tool based on a 20-year term policy with a $500,000 face value and a preferred plus rating. As illustrated in the table below, Ladder's rates for shoppers under the age of 45 are lower than the industry average. For a more comprehensive breakdown of average premiums, check out our guide on the average cost of life insurance.
| Age | Sex | Ladder quote (monthly) | Industry average (monthly) |
| 20 | Male | $20.70 | $30 |
Female | $17.10 | $23 | |
| 30 | Male | $20.70 | $29 |
Female | $18 | $23 | |
| 40 | Male | $30 | $43 |
Female | $26.10 | $35 | |
| 50 | Male | $85.50 | $102 |
Female | $63.60 | $78 | |
| 60 | Male | $126* | $269 |
Female | $85.50* | $194 |
*Quotes are for a 10-year term policy, as that is the max term available to 60-year-olds.
How to File a Claim with Ladder Life Insurance
You can file a claim with Ladder online or by emailing claimhelp@ladderlife.com. The team will then ask you to complete several forms and provide the required documents. For additional assistance, you can contact Ladder's support team via phone and email during its hours of operation from 8 a.m. to 5 p.m. Pacific Time. You can also access its online chat through the help center.
- Phone: (844) 533-7206
- Email: claimhelp@ladderlife.com
- Mailing address: Ladder Financial Inc., 100 Forest Ave, Palo Alto, CA 94301
Ladder Life Insurance Customer Reviews and Ratings
Ladder has glowing customer reviews, receiving an average of 4.9 stars out of five on its Trustpilot page. Customers spoke highly of its online application, particularly about how quick and streamlined the process was. Representatives were also polite and knowledgeable. Furthermore, applicants appreciated how transparent the process was, with many ending up paying the rate they were quoted online.
Because Ladder is not an insurance underwriter, it lacks ratings from third-party agencies. However, Allianz, which underwrites Ladder's life insurance policies, has an A+ rating in financial stability from AM Best.
Compare Ladder Life Insurance
Learn more about how Ladder stacks up against the competition.
Ladder Life Insurance vs. Bestow Life Insurance
Bestow and Ladder only sell term life insurance. Bestow offers instant approval with terms similar to Ladder. However, Ladder offers lower premiums and higher potential death benefits. Ladder also allows you to adjust coverage and premiums, which is not a service that Bestow advertises.
Ladder | Bestow | |
Financial strength (AM Best) | A+ (Superior)* | A+ (Superior) |
Customer satisfaction (JD Power) | Not Ranked | Not Ranked |
Term lengths | 10, 15, 20, 25, and 30 | 2, 10, 20 |
Coverage amounts | $100K-$8M | $50K-$1M |
Age limits | 20-60 | 21-60 |
No medical exam options? | Yes | Yes |
*Ladder does not have an AM Best rating, as it does not underwrite its own insurance policies. The AM Best rating provided is from Allianz, which is one of Ladder's underwriters.
Read our Bestow life insurance review.
Ladder Life Insurance vs. Ethos Life Insurance
While Ladder is cheaper, those looking for an all-inclusive life insurance company may prefer Ethos. Ethos offers a broader array of coverage options, up to $10 million. You can also apply for coverage from 18 to 75 years old, unlike Ladder, where coverage qualification ends at 60.
Ethos also offers the ability to convert to a whole life insurance policy without a medical exam. Coverage will drop while premiums rise at this point. However, it guarantees coverage as long as you keep up with payments. Policyholders can also add critical illness, child term, premium waivers, and an endowment benefit rider to Ethos policies.
Ladder | Ethos | |
Financial strength (AM Best) | A+ (Superior) | A+ (Superior) |
Customer satisfaction (JD Power) | Not Ranked | Not Ranked |
Term lengths | 10, 15, 20, 25, and 30 | 10, 15, 20, and 30 |
Coverage amounts | $100K-$8M | $25K-$10M |
Age limits | 20-60 | 18-75 |
No medical exam options? | Yes | Yes |
*Ladder does not have an AM Best rating, as it does not underwrite its own insurance policies. The AM Best rating provided is from Allianz, which is one of Ladder's underwriters.
Read our Ethos life insurance review.
Ladder Life Insurance FAQ
Ladder offers term life insurance that lasts between 10 to 30 years, offering coverage from $100,000 to $8 million. Ladder's life insurance does not require a medical exam.
Yes, you can decrease your Ladder life insurance coverage — specifically your death benefit — for a lower premium, and vice versa.
No, Ladder doesn't offer whole life insurance. It only offers term life insurance policies with up to 30 years of coverage.
Why You Should Trust Us: How We Reviewed Ladder Life Insurance
Our insurance rating methodology helps us compare companies objectively to help consumers make informed decisions. We look at factors including:
- Cost of a policy: Underwriting will determine your premiums based on your perceived risk level. However, we do our due diligence to find affordable rates and the best value. To do so, we compare a company's cost with the average industry rate ($40 to $56 per month) and with its competitors. We also assess the impact of demographic factors (age, health classification, etc.) on premiums.
- Company offerings: We look at the variety of products a company offers, including the availability of short-term and long-term policies and supplemental riders. Shoppers with more complex financial needs may value access to universal life policies or the option to convert to a permanent plan. Those who only need basic coverage may like the simplicity of companies offering only term life insurance.
- Policy customization: We look at a company's term length options and range of coverage amounts. Shoppers with unique circumstances may need more coverage or longer term lengths (several companies offer up to 40 years of term life coverage). The availability of riders also enhances a policy by providing extra protection.
- Financial strength: Financial stability indicates how consistently a company can deliver on its financial commitments during unstable economic conditions like a recession. We used AM Best, an industry-renowned credit rating agency, to determine an insurance firm's financial health. Companies receive grades from A++ (Superior) to F (not financially stable). If a company earns under a B, its financial strength is questionable. The company may not be around to pay your death benefit claim.
- Customer service: Using JD Power's life insurance customer satisfaction survey, we called out companies known for top-tier customer support. JD Power surveyed over 5,000 participants who ranked providers based on service from the purchasing to the claims process. JD Power distributed points out of 1,000 to each firm. Providers scoring over 774 points demonstrated superior customer service.
- Exclusions: Insurance providers may exclude applicants to minimize risk. Some companies will increase rates or disqualify life insurance buyers with pre-existing conditions, smokers, or older applicants. Our review highlights where applicants may encounter disqualification or higher premiums based on the provider's exclusions.
Read more about how Business Insider rates life insurance.
