Ladder Life Insurance Review

Financial Rating
Our Rating




Prouducts sold


Get A Quote

Ladder Life is a digital insurance provider based in California. The company offers fully underwritten term life policies which provide you with substantial coverage at very reasonable rates.

In this Ladder Life review, we take a look at their innovative approach towards life insurance, its uniquely designed term life policy, and the pros and cons of choosing the company as the insurer to protect your loved ones.

About Ladder

Established in 2017, Ladder is one of the newest entrants to the US insurance market. The company’s tech savvy approach makes it extremely easier for you to buy life insurance coverage, as the whole process can be completed online.

Ladder’s instant approval process has become very popular within a short period of time. In fact, within the first 100 days of its inception, the company managed to issue life insurance policies worth $100 million.

The company’s founders say that they want to work towards bridging the gigantic life insurance coverage gap which exists in the country today. Data from LIMRA shows that there is a $16 trillion gap between the total amount of coverage needed for the US population and the existing amount of coverage. They recently partnered with SoFi to help bring life insurance to their over 500,000 members.

Ladder aims to do its part in closing this gap by offering competitive rates, making it easier to buy, and easier to customize. Ladder Life Insurance is backed by two major players in the insurance industry – Fidelity Security Life Insurance Company and Hannover Re.

Financial Strength

Ladder’s policies are underwritten and issued by Fidelity Security Life and reinsured by Hannover Re. So, let us take a look at the financial ratings of these two companies.

Fidelity Security Life

  • A.M. Best: A–

Hannover Re

  • A.M. Best: A+
  • Standard & Poor’s: AA–

These are excellent ratings, which indicate that both the insurer and the reinsurer are financially stable and are in a position to meet their commitments to all their customers.

Let us now move on to the next section this review, where we discuss the term policies offered by Ladder Life Insurance.

Term Life Insurance by Ladder

Ladder offers a dynamic term life insurance policy which is different from most other term life policies that you can find on the market today.

The key features include:
  • You have five different term lengths to choose from – 10, 15, 20, 25, or 30 years.
  • If you still need coverage at the end of the term, you have the option of renewing your policy on a yearly basis for up to five years.
  • It is a level premium policy which comes with a price-lock guarantee. What you pay in the first month of your coverage period is also what you will pay in the last month.
  • The face value of your policy could be anywhere from $100,000 to $8 million.
  • It is a dynamic policy, which means you can increase or decrease the coverage amount any time as your financial needs change.
  • You need to be a US citizen or a permanent resident between the ages of 20 and 60 in order to apply for the policy.
  • There is a 30-day ‘free look’ period, within which you can cancel your policy and get a full refund from the company.

The Application Process

First, you need to decide how much life insurance you need. Ladder Life Insurance’s website has a calculator which allows you to determine the coverage amount you need in a fairly accurate manner. Once you have a number, it will show you a life insurance quote and you can get started with the application process.

You are required to answer a number of questions related to your health condition, occupation, and lifestyle. Based on the answers you provide, there are three possibilities.

You Get Qualified

If you are young and healthy, you are likely to get qualified instantly. There is no need for a medical exam or even a phone interview. You can get the coverage you need within minutes.

You Are Asked to Undergo a Medical Exam

If you have any pre-existing conditions or if there are any anomalies in your health data, a medical exam might be necessary.

You can get it done at your home or office, depending on your convenience. The company will send a technician to your place at a time of your choosing.

The technician will measure your height, weight, pulse, and blood pressure, ask you a number of questions about your health condition, and collect samples of your blood and urine.

Once the company receives your test results, you will be notified of your status – whether you are approved or rejected.

You Get Declined

If you have several pre-existing conditions, have a family history of heart disease, stroke, cancer, and other such major illnesses, and lead an unhealthy lifestyle, you are likely to get declined right at the outset.

The Underwriting Process

Ladder uses intricately designed algorithms to underwrite life insurance policies. These algorithms are capable of analyzing large volumes of data in real time and determine the insurability of individuals who apply for a policy.

As a result, you can find out your status (approved, should undergo a medical exam, or declined) in a matter of few minutes. That is pretty close to an instant decision!

This is an unprecedented development in the life insurance industry. The traditional application process involves talking to an agent, comparing different types of policies, filling out pages and pages of forms, going through a phone interview, and undergoing a medical exam.

After doing all these things, you still have to wait for weeks to hear from the insurance company.

With Ladder Life Insurance, on the other hand, you can complete the whole process within minutes. The application process itself takes only about five minutes.

Once you answer all the questions, the algorithms analyze your personal and medical information in a lightning fast manner and instantly notify you of your approval status. If you are approved, you can get the life insurance coverage you need instantly.

Now, let us take a detailed look at the pros and cons of choosing Ladder as your insurance provider.


Online Application Process

Ladder Life Insurance’s application process can be completed online and you can get approved within minutes. Anyone who has ever applied for a policy with a traditional life insurance provider can tell you just how incredible this is. Instead of waiting for weeks, you can get the results in 10 minutes.

No Upselling

Many insurance companies use commissioned agents to sell their policies. The commission for a permanent life policy is typically higher compared to a term life policy.

So, they invariably employ the upselling strategy – convincing the customer to buy a whole life policy even if he or she only needs coverage for a specific time period. As a result, customers end up paying more for coverage that they do not even need.

Ladder Life Insurance, on the other hand, does not use commissioned agents to sell its policies. The company only employs licensed insurance professionals who are paid a monthly salary. So, you can be sure that they have your best interests at heart while making policy recommendations for you.

No Exam Policy

Ladder Life Insurance allows qualified individuals to buy life insurance coverage without undergoing medical exams. If you are young, healthy, do not have a family history of serious diseases and disorders, and do not have any high-risk hobbies, you are likely to get approved instantly.

The best part is that Ladder offers as much as $8 million in coverage for qualified individuals. While there are insurance companies which allow you to buy life insurance coverage without going through any exams, the coverage amount is usually capped at $1 million.

With Ladder, you can buy an $8 million term life policy without going through any phone interview, in-person interview, or medical exams, which is quite amazing to say the least.

Simple and Uncomplicated Product

One of the many advantages of a pure term life policy, like the one offered by Ladder, is that it allows you to safeguard your financial interests when you need it the most.

If you are in your 30’s and do not have any health problems, you can get a substantial amount of coverage at very cheap rates. A 30-year, $1 million term life policy is likely to cost you only around $60 a month.

The insurance rates are, on average, 3 to 10 times lesser than what you pay for a whole life policy. What is even better is that the premium does not increase for any reason.

Dynamic Term Life Policy

This is one of the biggest advantages of buying a policy from Ladder. Unlike most other insurance companies, Ladder does not offer a level death benefit policy.

Instead, it offers a dynamic term life policy, which allows you to ladder up (increase the death benefit) or ladder down (decrease the death benefit) any time you want. A policy that you can adjust depending on your life insurance needs!

Let us say you are a recently married 30-year-old man who lives in a one-bedroom apartment with your wife.

Instead of buying a 30-year, $1 million policy which covers all your current and future financial obligations, you can buy a 30-year term, $250,000 policy which is sufficient to replace your income for a particular period of time in the event of your death.

After the birth of your first child, you can add $200,000 to your coverage for 20 years. After you move from your apartment to a larger home, you can add another $500,000 to your coverage for 20 years, which should be sufficient to pay off your mortgage.

Similarly, as your financial obligations reduce over time, you can ladder down your coverage. When you pay off your mortgage, when your children go off to college, or when you move into a smaller home, you can reduce your coverage amount accordingly.

This is an excellent strategy which can save you thousands of dollars over time.

Free Look Period

Ladder Life Insurance has a 30-day free look period, within which you can cancel your policy – for any reason – and get your money back.


Strict Eligibility Criteria

You need to be between the ages of 20 and 60 in order to apply for a policy with Ladder Life Insurance. This is quite a narrow range, especially when you consider the fact that there are companies which offer term life policies for people aged 75 and older.

Moreover, Ladder also has a rule that your current age and your policy’s term length, when added together, should not exceed 70 years. For instance, if you are 50, you cannot apply for a 30-year policy, as the total (50+30 = 80) exceeds 70.

In the table given below, we have listed the term length you are eligible to apply for based on your age.

Age Maximum Term Length
60 10 Year
55 15 Year
50 20 Year
45 25 Year
40 30 Year

This rule further restricts an already narrow range of age. So, if you are in your 50’s and need 20 to 30 years of coverage, Ladder Life Insurance is not the right choice for you.

No Riders

Ladder does not offer any riders with its term life policy, which is a big downside. Competitors such as Haven Life and Ethos both offer policy riders.

No Permanent Life Policies

Ladder, as mentioned above, only offers term life policies. It is not the right choice for those who are need a whole life or universal life policy.

Final Thoughts on Ladder Life Insurance

Ladder is a very good choice for those who are young, healthy, and are in need of a term life policy. If you are in your 50’s or 60’s and have pre-existing conditions, it might be a salient idea for you to look for companies which do not have entry barriers for people like you and have lenient underwriting guidelines.

Similarly, if you need lifelong coverage, you can check out our list of the best whole life insurance companies.

About NoExam.com

NoExam.com has a team of experts who can answer all your questions on life insurance and help you find a life insurance policy which is best suited for your income level and financial needs.

If you have any questions regarding Ladder Life or any other insurance company, get in touch with us today. We know this arena and we have a long line of satisfied customers.

Jonathan Holloway
April 8, 2019
Jonathan is a licensed life insurance agent at NoExam.com that writes about insurance, personal finance, lifestyle, and sports. See our pages on term life insurance, life insurance rates and life insurance companies for more.
Disclaimer: We make every attempt to make sure our information is up to date, but since things change often it is best to double check the data. This review is an opinion. Clicking on links may result in NoExam.com being compensated.