Last updated: July 21st, 2022
Reviewed by
Grant Desselle
Licensed Insurance Agent
Ladder is an insurance provider offering term life insurance products for people ages 20 to 60 years old and are permanent residents of the U.S. for at least two years. Founded in 2015, the company has its headquarters in California but has operations to cover all 50 U.S. states and Washington D.C.
In 2020, Ladder partnered with SoFi, a personal finance firm, and NetLaw, a legal document platform, to enable SoFi members to create wills free of charge. In October 2021, the company announced that it successfully raised $100 million in equity funding through a Series D funding round, effectively valuing Ladder at $900 million.
Many of the Ladder life insurance reviews online are positive, with policyholders saying that they like the straightforward and easy-to-use online platform. Those who left negative Ladder life insurance reviews did not like that they cannot add riders to their policies. Pricing starts at $5 per month.
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Ladder offers life insurance products online, and those interested may apply for coverage without needing to go through agents. Applicants are able to get instant coverage decisions within minutes after they apply. Policies are issued by Allianz Life Insurance Company of North America and Allianz Life Insurance Company of New York.
Ladder’s life insurance policies may be paid over 10, 15, 20, 25, and 30 years, depending on the applicant’s age. Applications for coverage worth lower than $3 million can be accomplished online without having to take a medical exam, and policyholders may opt to increase or decrease their coverage amounts online later on as their needs change.
Here are the pros and cons of having a Ladder life insurance policy to help you decide whether or not to apply.
Is Ladder life insurance good? There are no Google reviews on Ladder insurance but we found a mix of positive and negative reviews about its products from various online sources. Let’s take a look at what most people say below.
Those who gave positive Ladder life insurance reviews liked that they can easily upgrade or downgrade their coverage online as needed, while others said that not needing to undergo medical exams for coverage of up to $3 million is convenient. They also appreciate that policies may be canceled at any time without paying cancellation charges.
Those who gave negative Ladder life insurance reviews wished that the company offered riders to their policies, while others hoped that it extended coverage to beyond 70 years old.
Here are some FAQs about Ladder’s products and services.
Yes, it does. Ladder has a financial stability rating of A, Exceptional, from Demotech Inc., indicating its ability to pay. The company does not underwrite its own insurance policies but its partner, Allianz, has an AM Best rating of A+.
Yes, Ladder life insurance policies are available in all U.S. states.
No, it does not offer supplementary policies. Ladder providers term life insurance only, with no riders.
Yes, Ladder’s application and policy management capabilities are all online. It takes only around 5 minutes to apply via Ladder’s website, and applicants may receive an approval, a rejection, or a request for more information within minutes. Those who are asked to undergo medical testing, particularly for coverage applications going over $3 million, are sent a lab kit to their homes free of charge, in place of an in-person exam.
Ladder is a modern-day provider that is best for those who want a digital experience in obtaining and managing their life insurance plans.
Visit Ladder to get a free life insurance quote today or browse the Insurist website to learn more about other life insurance providers.
Brian is the founder and CEO of Insurist and carries Life, Health, and Property & Casualty licenses in all 50 U.S. states. Since 2013, Brian has been a member of Million Dollar Round Table, a designation for the top 1% of financial advisors worldwide. Brian has been featured in Yahoo! Finance, Money.com, Entrepreneur.com, Life Happens, Forbes, MSN, and Good Financial Cents. Brian’s goal is to show customers the best products, the quickest answers to their questions, and provide expert advice.
Grant's past experience includes work as a licensed sales agent for Hagerty Insurance. He has reviewed thousands of existing auto policies across the nation and issued hundreds of new ones on everything ranging from classic cars undergoing restoration to modern exotics and motorcycles.
