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<\/div>\nGet a Free Quote<\/a><\/div>\n
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- Easy to use online applications<\/li>\n
- No medical exams for up to $3M in coverage; just answer some health-related questions<\/li>\n
- Adjustable coverage<\/li>\n<\/ul>\n
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\n\nTable of Contents<\/h3>\n<\/div>\n
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- Introducing Ladder Insurance<\/a><\/li>\n
- How Ladder Term Life Insurance Works<\/a><\/li>\n
- Ladder Pricing<\/a><\/li>\n
- Ladder Maximum Coverage Limits<\/a><\/li>\n
- Ladder Coverage Eligibility<\/a><\/li>\n
- Ladder Application Process<\/a><\/li>\n
- Ladder Underwriting<\/a><\/li>\n
- Is Ladder Legit? <\/a><\/li>\n
- How We Evaluated Ladder Life Insurance<\/a><\/li>\n
- Is Ladder a Good Company? <\/a><\/li>\n<\/ul>\n<\/div>\n<\/div>\n
Introducing Ladder Insurance<\/h2>\n
![\"\"](\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\")
<\/figure>\nLadder is a California-based online life insurance services provider offering coverage through established life insurance companies<\/a>.<\/p>\n
Get Started with Ladder<\/a><\/p>\n
How Ladder Term Life Insurance Works<\/h2>\n
Ladder only offers term life insurance policies. Ladder\u2019s mission is to offer affordable policies with speed and ease. Term life insurance best fits that product type.<\/p>\n
When applying with Ladder, you should be aware the company does not offer policy riders. These optional additional coverage provisions provide more benefits but at a higher premium. That higher premium is the reason why Ladder doesn\u2019t offer them.<\/p>\n
\n\n<\/span><\/a><\/div>\n<\/div>\n\nLadder\u2019s most unique feature is that it allows you to increase or decrease your coverage as needed. <\/p>\n<\/div>\n<\/div>\n
Laddering Up\/Laddering Down<\/h3>\n
<\/figure>\nThe name Ladder hints at its most unique feature \u2013 the ability to increase or decrease your coverage as needed. The process is known as \u2018laddering up\u2019 or \u2018laddering down.\u2019 <\/p>\n
Existing policyholders can increase their death benefit amount as their needs change, subject to underwriting and approval. <\/p>\n
Conversely, if your coverage needs decline, you can reduce the death benefit. In short, Ladder puts you in charge of the policy\u2019s face amount and the premium you\u2019ll pay. You can request a change to your coverage by visiting the Ladder account page.<\/p>\n
Laddering your policy, up or down, is completely free. And you can ladder your policy as often as you like.\u00a0Naturally, the premium will increase if you ladder up the policy amount. And if you ladder down the death benefit, the premium will decrease.<\/p>\n
Term Length Options<\/h3>\n
Ladder offers terms ranging from 10 to 30 years<\/a>, the maximum term you can qualify for, regardless of age. That said, your age at the time of application may reduce the maximum term for which you qualify. The maximum issue age is 60. <\/p>\n
Ladder Pricing<\/h2>\n
Like all life insurance policies, Ladder policy premiums depend on a combination of factors. Those include your age at the time of application, health condition, occupation, hobbies and pastimes, and even geographic location.<\/p>\n
We requested information for a non-smoking 40-year-old male in excellent health with no family history<\/a> of major illnesses, and we received the following quotes for $1 million in coverage:<\/strong><\/p>\n
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- 10 years \u2013 $37.50 per month<\/li>\n<\/ul>\n
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- 15 years \u2013 $47.70 per month<\/li>\n<\/ul>\n
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- 20 years \u2013 $61.80 per month<\/li>\n<\/ul>\n
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- 25 years \u2013 $96.90 per month<\/li>\n<\/ul>\n
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- 30 years \u2013 $114.30 per month<\/li>\n<\/ul>\n
We then requested a policy for a non-smoking 40-year-old female in excellent health with no family history of major illnesses, and we received the following quotes for $1 million in coverage:<\/strong><\/p>\n
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- 10 years \u2013 $35.40 per month<\/li>\n<\/ul>\n
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- 15 years \u2013 $46.80 per month<\/li>\n<\/ul>\n
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- 20 years \u2013 $52.50 per month<\/li>\n<\/ul>\n
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- 25 years \u2013 $77.10 per month<\/li>\n<\/ul>\n
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- 30 years \u2013 $88.50 per month<\/li>\n<\/ul>\n
The monthly premiums for men are slightly higher than for women, which is common throughout the life insurance industry. This owes to the fact that women statistically live longer than men by several years.<\/p>\n
The premium rate increases with the term of the policy because the longer the term, the greater the likelihood the company will ultimately pay the death benefit.<\/p>\n
Get Started with Ladder<\/a><\/p>\n
Ladder Maximum Coverage Limits<\/h2>\n
Ladder coverage limits range from a minimum of $100,000 to a maximum of $8 million.<\/p>\n
If you apply for $3 million or less, you won\u2019t have to take a medical exam, just answer health questions. Applicants applying for benefits greater than $3 million may need to submit to a medical exam.<\/p>\n
Policies offered through Ladder have a single death benefit payout, which is paid in a lump sum to the beneficiaries upon the death of the insured. <\/p>\n
Unlike some life insurance companies, there is no option to distribute benefits in installments or through any other payout method.<\/p>\n
As mentioned, Ladder does not offer common life insurance riders, so you won\u2019t have the ability to add provisions, such as a spousal rider<\/a>, an accelerated death benefit (living benefits), double indemnity (increased death benefit for death caused by an accident), or a conversion provision that enables you to convert the term policy to a permanent, whole life policy before the term expires.<\/p>\n
Ladder Coverage Eligibility<\/h2>\n
Ladder offers coverage for those between the ages of 20 and 60. If you are over 60, you\u2019ll need to make an application elsewhere. <\/p>\n
Each application is for a single individual, so there is no capability to apply jointly with your spouse or to add your children. Each person will need to complete a separate application.<\/p>\n
Policies are available only to US citizens and lawful permanent resident aliens who have lived in the US for at least two years. Ladder offers policies in all 50 states, as well as the District of Columbia.<\/p>\n
Ladder Application Process<\/h2>\n
The application process takes place online, which helps Ladder keep premiums low.<\/p>\n
You can apply for coverage in as little as 5 minutes. You will not be required to complete a medical exam for coverage up to $3 million. <\/p>\n
But for coverage above $3 million, the approval decision may be delayed several weeks.<\/p>\n
- 30 years \u2013 $88.50 per month<\/li>\n<\/ul>\n
- 25 years \u2013 $77.10 per month<\/li>\n<\/ul>\n
- 20 years \u2013 $52.50 per month<\/li>\n<\/ul>\n
- 15 years \u2013 $46.80 per month<\/li>\n<\/ul>\n
- 10 years \u2013 $35.40 per month<\/li>\n<\/ul>\n
- Your height and weight.<\/li>\n<\/ul>\n
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- The last time you used tobacco or nicotine products<\/a>.<\/li>\n<\/ul>\n
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- Your date of birth.<\/li>\n<\/ul>\n
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- Whether a biological parent or sibling has been diagnosed by a physician with diabetes<\/a>, cancer<\/a>, heart disease<\/a>, Huntington\u2019s Disease, or Lynch Syndrome before the age of 60?<\/li>\n<\/ul>\n
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- Your annual household income.<\/li>\n<\/ul>\n
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- How many children do you have?<\/li>\n<\/ul>\n
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- Your remaining mortgage balance.<\/li>\n<\/ul>\n
Your answers to these and other questions will determine your eligibility for life insurance coverage, as well as the premium you\u2019ll pay for the policy.<\/p>\n
Get Started with Ladder<\/a><\/p>\n
Is Ladder Legit? <\/h2>\n
Ladder is a legitimate term life insurance services provider, offering policies in all 50 US states. The following information indicates its financial strength and how it\u2019s perceived within the insurance industry and by its customers.<\/p>\n
Financial Strength<\/h3>\n
Since Ladder is not the direct issuer of the policies it offers, the company is not rated for financial strength by A.M. Best<\/a>, the industry\u2019s most well-recognized insurance company rating agency.<\/p>\n
However, all of Ladder\u2019s carrier partners are highly rated.<\/p>\n
Third-Party Ratings<\/h3>\n
In addition to financial strength ratings by A.M. Best, we\u2019ve also considered the credit rating of Ladder\u2019s carrier partners. The credit rating indicates the company\u2019s ability to meet its financial obligations and continue operations as a going concern.<\/p>\n
The news here is as good as it is with the financial strength ratings.<\/p>\n
Customer Service Ratings<\/h3>\n
Perhaps the best indicator of Ladder\u2019s reputation as a life insurance services provider is to look at the ratings provided by the people who deal most closely with Ladder \u2013 its customers. <\/p>\n
Ladder has an Excellent Trustpilot score<\/a> of 4.8\/5, based on over 2,600 customer reviews. 89% of customers have assigned them a 5-star rating, and only 4% rated them three stars or fewer. <\/p>\n
\n<\/figure>\n<\/div>\nThe Better Business Bureau has an \u201cA+\u201d (highest) rating for Ladder Insurance Services, LLC<\/p>\n
How We Evaluated Ladder Life Insurance<\/h2>\n
We\u2019ve evaluated Ladder based on the policy terms offered, the dollar amount of the death benefits, and the premiums\u2019 cost. We\u2019ve also taken into account applicant eligibility, as well as the apparent underwriting criteria the company uses.<\/p>\n
We\u2019ve also considered third-party information about the company, including its financial strength and reputation. Finally, we considered factors that make Ladder Life unique regarding what niche they fill in the insurance industry.<\/p>\n
Get Started with Ladder<\/a><\/p>\n
Is Ladder a Good Company? <\/h2>\n
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- Your remaining mortgage balance.<\/li>\n<\/ul>\n
- How many children do you have?<\/li>\n<\/ul>\n
- Your annual household income.<\/li>\n<\/ul>\n
- Whether a biological parent or sibling has been diagnosed by a physician with diabetes<\/a>, cancer<\/a>, heart disease<\/a>, Huntington\u2019s Disease, or Lynch Syndrome before the age of 60?<\/li>\n<\/ul>\n
- Your date of birth.<\/li>\n<\/ul>\n
- The last time you used tobacco or nicotine products<\/a>.<\/li>\n<\/ul>\n
Ladder Underwriting<\/h2>\n
When completing the application, Ladder will request basic information, like your name and email address. <\/p>\n
In making the underwriting decision, they\u2019ll also request the following information:<\/strong><\/p>\n
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- 30 years \u2013 $114.30 per month<\/li>\n<\/ul>\n
- 25 years \u2013 $96.90 per month<\/li>\n<\/ul>\n
- 20 years \u2013 $61.80 per month<\/li>\n<\/ul>\n
- 15 years \u2013 $47.70 per month<\/li>\n<\/ul>\n
- 10 years \u2013 $37.50 per month<\/li>\n<\/ul>\n
![\"\"](\"https:\/\/envisionboise.com\/wp-content\/uploads\/2022\/11\/Screenshot-of-Ladder-homepage-1024x577-1.png\")
<\/figure>\n![\"laddering-up-screenshot\"](\"https:\/\/www.goodfinancialcents.com\/wp-content\/uploads\/2022\/11\/laddering-up-screenshot-1024x423.png\")
<\/figure>\n![\"\"](\"https:\/\/envisionboise.com\/wp-content\/uploads\/2022\/11\/Untitled-1.jpg\")
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