Ladder Life Insurance Assessment – Unique Features of Term Life Insurance

Ladder is the place to go if you want a quick and affordable life insurance policy. The online application is quick and easy. You can be approved within minutes. According to Ladder many applications can be approved without the need for a medical examination.

This Ladder review will tell you what they have to offer in terms of insurance policies, their key features, who’s eligible and how much it costs.GET A FREE QUOTE

  • Online applications that are easy to use
  • Answer some health questions to get up to $3M of coverage without a medical exam
  • Adjustable Coverage

Ladder Insurance: A New Concept

Ladder, based in California, offers coverage through well-established life insurance companies. Ladder was founded in 2015 and launched by 2017. Its insurance partners are Allianz Life Insurance Company New York Fidelity Security Life Insurance Company (r) and Ladder Life Insurance Company.

If you need help, licensed insurance professionals are available to assist.

Ladder Term Life Insurance: How it Works

Ladder offers only term life insurance. Ladder’s goal is to provide affordable policies quickly and easily. This product type is best suited to term life insurance.

Ladder does not provide policy riders. These additional coverage options provide greater benefits, but come with a higher price. Ladder does not offer these optional additional coverage provisions because of the higher premium.

Ladder is unique in that you can increase or decrease the coverage of your ladder as required.

Laddering up/Laddering down

Ladder’s name hints at the most unique feature of this product – you can increase or decrease coverage as required. This process is called ‘laddering’ up or ‘laddering’ down. Existing policyholders may increase their death benefits as their needs evolve, subject to approval and underwriting.

If your needs for coverage decline, you may reduce the death benefits. Ladder Life lets you choose the face value of your policy and the premiums you pay. Visit the Ladder Account page to request a coverage change.

It is free to ladder your policy up or down. You can ladder your policy however many times you want. The premium will naturally increase if the amount of the policy is increased. If you reduce the death benefit then the premium will be reduced.

Choose your term length

The maximum period you are eligible for is 30 years. Depending on your age when you apply, the maximum period for which you are eligible may be reduced. The maximum age for issuance is 60.

Ladder uses an easy calculation to determine the maximum policy term. The sum of your current age and the term length cannot exceed 70. If you are 40 years old, your longest term will be 30 years. (40+30=70). If you are 50 years old, the longest period is 20 (50+20=70).

The underwriting of ladder policies is based on the nearest birthday. If you are 45 in four month, then your age is 45 and not 44.

The policy can be renewed for up to five years following the term of guaranteed level premiums. This is the way term life insurance renews. The new premium is based on age.

Ladder Pricing

The Ladder policy’s premiums are determined by a number of factors, just like all other life insurance policies. These include your age, occupation, hobbies, and geographic location.

The following quotes were received for coverage of $1 million for a 40-year-old non-smoker in good health, with no history of serious illnesses in the family.

  • Ten years – $37.50 a month
  • 15 Years – $46.70 per month
  • Monthly payment: $61.80 for 20 years
  • 25 Years – $96.90 Per Month
  • Monthly payment of $114.30 for 30 years

The following quotes were received for coverage of $1 million for a 40-year-old non-smoking female with excellent health and no history of serious illnesses in the family:

  • Ten years – $34.40 per month
  • 15 Years – $46.60 per month
  • Monthly payment of $52.50 for 20 years
  • 25 Years – $77.10 Per Month
  • Monthly payment of $88.50 for 30 years

It is common for the monthly premiums to be slightly higher for men than women in the life insurance business. The reason for this is that women live statistically longer than men.

The premium increases as the term of the insurance policy lengthens, because the more time the company has to pay out the death benefit, the higher the rate.

Ladder Maximum Coverage Limits

Laddercoverage limitations range from a minimal $100,000 to a maximal $8 million (upto $3 million in CA). You will not have to undergo a medical examination if you are applying for less than $3 million. If you are applying for more than $3 million in benefits, you may be required to undergo a medical examination.

Ladder policies offer a single payout of death benefits, which are paid to beneficiaries in one lump sum upon the death the insured. There is no option for benefits to be distributed in installments, unlike some other life insurance companies.

Ladder doesn’t offer the usual life insurance riders. You won’t be able to add provisions such as an spousal policy, accelerated death benefits (living benefits), a double indemnity provision (increased benefit in the event of an accident) or a conversion clause that allows you to convert a term policy into a permanent whole life policy prior to the expiration date.

Ladder Coverage Eligibility

Ladder provides coverage to those aged between 20 and 60. You will need to apply elsewhere if you are older than 60. There is no way to submit a joint application with your spouse, or add your children. Each individual will have to submit a separate application.Only US citizens or lawful permanent residents who have resided in the US for a minimum of two years are eligible to purchase policies. Ladder provides policies in all fifty states and the District of Columbia.

The Ladder Application Process

Ladder keeps premiums low by allowing the application to be completed online.

In as little as five minutes, you can apply for insurance. For coverage of up to $3,000,000, you will not need to undergo a medical examination.

The approval of coverage exceeding $3 million may take several weeks.

Ladder Underwriting

Ladder asks for basic information like your email address and name when you fill out the application. When making an underwriting decision, Ladder will also ask for the following information.

  1. Height and weight
  2. When was the last time you smoked or used nicotine?
  3. Date of Birth
  4. What if a biological sibling or parent has been diagnosed with diabetes, cancer or heart disease before 60 years of age?
  5. Your household income
  6. How many children do you have?
  7. The remaining balance of your mortgage

You’ll be able to determine if you qualify for life insurance by answering these questions, and also the premium that you will pay.

Is Ladder Legit?

Ladder life offers term life insurance policies in all fifty states of the United States. This information shows its financial strength, and how its customers and the insurance industry perceive it.

Financial Strength

A.M. does not rate Ladder’s financial strength because it is not directly issuing the policies. Best is the most widely recognized rating agency for insurance companies.

The ratings of two Ladder issuing companies can be summarized as follows:

  • Allianz Life Insurance Company of New York A+*
  • Fidelity Security Life Insurance Company A* (Excellent).

A.M. Best has rated each company “A” or better, so it is likely that they will have the financial ability to pay out the death benefit if needed.

Ladder Life Insurance Company is Ladder’s third issuing entity. Demotech, Inc. has awarded Ladder Life Insurance Company a Financial stability rating(r) of A. This is a leading indicator for financial stability, and provides an objective baseline to future solvency. Visit to verify the most recent FSRs.

Third-Party Ratings

We have also taken into account the credit ratings of each of the three companies behind Ladder. Credit rating is a measure of the company’s financial strength and ability to continue operating as a business.Financial strength ratings are also good news. Below is a table that shows two companies’ credit ratings from two major corporate rating agencies.

Insurance Company / Rating ServiceMoody’sStandard & Poor
Allianz Life Insurance Company of New YorkA1 (5 out of 21 ratings)AA (third out of 21 ratings)
Fidelity Security Life Insurance Company (r)N/AN/A

Customer Service Ratings

Ladder is rated as an excellent life insurance provider by its customers. Ladder’s Excellent trustpilot score is 4.8/5 based on nearly 2400 customer reviews. Only 5% of customers gave them less than five stars. 89% have given them a five-star rating.

The Better Business Bureau did not have a rating on Ladder. The BBB gives Fidelity Security Life Insurance Company (r) an “A+”, the highest rating. This agency has been accredited by the BBB since 1990. Allianz Life Insurance Company of New York does not have a BBB rating, possibly because it is an affiliate.

How we evaluated ladder life insurance

Ladder has been evaluated based on its policy terms, the amount of death benefits and the cost of premiums. We also considered the applicant’s eligibility as well as apparent underwriting criteria used by the company.

We also looked at information from third parties, such as the financial strength of the company and its reputation. We also looked at factors that made Ladder life unique in terms of the niche they fill within the insurance industry.

The pros and cons of ladders

Ladder has many positive features, but lacks some important ones that people are looking for when they shop for life insurance. It depends on what you are looking for in a policy. We’ve listed the pros and cons of Ladder.


  • Affordable term life insurance
  • Fill out your application in its entirety online
  • You may not need to have a medical examination if you are in good health
  • Maximum coverage of $8M
  • You can change your insurance coverage by moving the ladder up or down.
  • Ladder Life receives an excellent Trustpilot rating


  • Offers only term life insurance
  • Your policy does not include insurance riders.

Is Ladder A Good Company?

Ladderis a leading online provider of term life insurance. They don’t have as many options (term only, no riders) as some other providers but they do offer straightforward coverage at a reasonable price. The entire application process can be completed online. If you are in good health, a medical examination is not required.

Ladder has a strong customer rating and is partnered with top insurance companies. Ladder also offers Ladder Up/Down, which is a great feature.

Ladder will not be for you if you do not meet the qualifying criteria. For example, if your age is over 60 and you want whole or universal life insurance or specialized coverage through insurance riders.

If you are in good health and meet Ladder’s age requirements, this is one of the best options for term life insurance. This is what most American adults require.

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