Ladder offers term life insurance through a streamlined process. It provides flexible options that can change as you do.
If you’re looking for flexible term life insurance allowing you to apply to add or reduce coverage whenever you need it, Ladder may be the ideal life insurance option for you.
In this guide, we’ll cover everything you need to know about life insurance: how to buy it, what it covers, and why you should consider Ladder.
Ladder policies are issued through Allianz Life of New York in New York and Allianz Life Insurance Company of North America in all other states and DC. They offer customized life insurance options for individuals ages 20 to 60.
Thanks to its focus on technology, Ladder eliminates the need for finding and vetting an insurance broker. Simply fill out the online application and begin the process of getting life insurance.
If you’re unsure about how much coverage you need, Ladder provides a handy calculator that allows you to determine the amount of life insurance you need right now. As your needs change, such as the birth of new children or paying off your mortgage, you can easily adjust your coverage down or apply for more.
You determine exactly how much coverage you need to purchase. No salespeople or brokers trying to upsell you, though you do have the opportunity to work with a licensed non-commissioned insurance professional for more assistance.
Use Ladder’s calculator to determine how much coverage you need, entering information such as your current mortgage balance, number and ages of any children, any other outstanding debts, predicted educational expenses, and annual projected living expenses of your family.
Choose your coverage term, from 10 to 30 years. Enter your gender, height and weight, whether you use tobacco, and your birthdate, as well as other demographic information. Answer questions about your family history and any potentially dangerous activities such as hang gliding, then submit your application.
As your life changes and your circumstances shift, you can apply to “ladder up” or “ladder down” your coverage, making Ladder unique in the industry.
Has your child recently graduated college, so you no longer need to factor educational expenses into your life insurance policy?
Ladder down your coverage and save money each month. Did you move into a newer, more expensive home and now owe more on your mortgage? Ladder up by applying for more coverage so your family won’t have to worry about those bills in case something happens to you.
With Ladder, the policyholder is in control of the process and coverage amount every step of the way. All Ladder’s customer support people are licensed, salaried employees, so you don’t have to worry about someone trying to sell you more coverage just to make a bigger commission.
If you die during the term of your life insurance, the policy payout will be Ladder pays out the amount of coverage you purchased. There is a provision for death by suicide within the first two years under which a claim will not be paid out.
The money can be used to help cover your mortgage and other outstanding debts, pay for your children’s college expenses, and provide for your family’s daily living expenses. Your life insurance policy will be paid out to your beneficiaries in one lump sum and isn’t considered taxable income.
When you purchase a life insurance policy through Ladder, the owner and the insured are the same, if you are that person, the coverage is based on you and it will only pay the beneficiaries you select in the event of your death.
Life insurance is a good product for anyone to consider, especially:
Ladder is available for purchase to consumers in all 50 states.You can move from Maine to Montana and take your coverage with you!
Ladder’s insurance premiums are dependent upon a variety of factors, including your age, coverage needs, overall health, risk factors, and even your activities.
Like any term life insurance policy, the death benefit that is paid out can be used to cover your debts, living expenses, education costs, or anything else your family may need. The money can be used for anything.
You can elect to calculate the coverage of your life insurance to provide for:
Life insurance is paid out to beneficiaries in a lump sum and is not considered taxable income, so you don’t have to worry about your loved ones being taxed on money intended to provide for their needs for years to come.
Now that you’ve got a fair idea of what Ladder is and what makes it different, here are some pros and cons of choosing this fairly new addition to the life insurance industry:
Ladder doesn’t offer discounts on coverage; however, the ability to adjust your coverage amount down allows you to save money.
Trust is an important factor in choosing a life insurance company. We’ve checked around to see what Ladder users are saying about their experience, and the reviews are overwhelmingly positive.
Ladder has a 4.8/5 trust rating over 1,580 reviews on Trustpilot, with many of the reviews looking similar to these:
“The process was seamless, easy and very intuitive. As someone who travels a good amount for work and has a busy life, not having to schedule and deal with medical examiners and to have immediate coverage through a highly rated company is the best.” - Joshua
“It was a really fast, really easy process. I did not have to speak with anyone. I was approved instantly, without needing a physical or lab work. I had life insurance approved and my policy PDF in hand 5 minutes after I decided to apply. This was truly spectacular.” - Mike
Applying for term life insurance through Ladder is a fast, easy process you can do with your laptop or smartphone.
Ladder does not support applying over the phone, but does have licensed professionals available to answer questions, if needed.
If the insured has passed away, filing a claim for life insurance benefits is easy for the beneficiary.
P.O. Box 456, Menlo Park, CA 94026
Customer service: (855) 543-3944
No. Ladder only offers term life insurance.
Ladder is unique in the life insurance industry in that coverage is adjustable at any time without any penalties or fees. As your life circumstances change, you can change your coverage to meet your needs.
A fast, easy online application with decisions in minutes sets Ladder apart from the industry. You can fill out the application in the morning and be covered by the afternoon.
The quick decisions and adjustable coverage make Ladder a top choice for young people looking to get insurance to cover their growing families now but who don’t want to pay large premiums for years to come.
If you need to talk with someone at Ladder, you can call (855) 543-3944 Monday through Friday, 8 a.m. to 5 p.m. PST or utilize the online chat option on www.ladderlife.com.
All of Ladder’s policies are individually underwritten in real-time, and you can receive a decision and potentially coverage within a few seconds of your application, if approved.
Because Ladder’s policies are individually underwritten, gathering all the necessary information up front prevents the back-and-forth that can lengthen the decision process. Ladder uses this information to verify the identity of each person applying for insurance.
Health checks are not required for coverage up to $3M. For coverage above $3M, that decision is made on a case-by-case basis. If you’re required to get a health check to secure coverage, you will be notified.
No. There are no fees or penalties for adjusting your coverage amount or canceling coverage entirely. However, applying for more coverage may result in additional monthly premium.
No, Ladder only offers straight term life insurance policies. Child riders, Accelerated Death benefits, and other riders or add-ons are not available through Ladder.
Ladder Insurance Services, LLC (Cal. license # 0K22568; Ark. license # 3000140372) offers term life insurance policies: (i) in New York, on behalf of Allianz Life Insurance Company of New York, New York, NY (policy form # MN-26); and (ii) in all other states and the District of Columbia on behalf of Allianz Life Insurance Company of North America, Minneapolis, MN (policy form # ICC20P-AZ100 and # P-AZ100). Only Allianz Life Insurance Company of New York is authorized to issue life insurance in the state of New York. Insurance policy prices, coverages, features, terms, benefits, exclusions, limitations and available discounts vary among these insurers and are subject to qualifications. Each insurer is solely responsible for any claims and has financial responsibility for its own products.