Ladder Life Insurance Reviews

Ladder Life Insurance
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About Ladder Life Insurance

You shouldn’t have to put a dollar value on your life - but how much do you think your life is actually worth? If you are looking for life insurance, you may have been dismayed by the seemingly exorbitant cost of purchasing a good policy.

You don’t have to spend a fortune to get good life insurance - and Ladder Life Insurance is a new company that will show you why.

What is Ladder Life?

Ladder Life Insurance offers smart life insurance for the everyday person. Offering a simple online portal, Ladder Life allows you to purchase coverage and make changes to your policy with minimal hassle. You can increase or decrease your coverage online as your financial needs change over time, and you can even get a quick quote and apply quickly - without a medical and physical exam.

This company offers high-value term life insurance policies. Rates are competitive, namely if you are interested in a policy that is valued at over $1 million. Applications can be completed online, where you can also adjust and view every aspect involved in your life insurance via the convenient portal. While there are some people who need a medical and physical exam, this usually only takes a few weeks to complete. Otherwise, most decisions are made immediately.

There are several term life insurance policies available that are level term policies- this means that your premiums won’t fluctuate for the life of the policy. You can purchase policies with potential lengths of ten, fifteen, twenty, twenty-five, or even thirty years.

The application process is all online and usually only takes about 20 minutes. You’ll get approved, get rejected, or be asked for a physical exam by a medical practitioner - the latter of which can be completed either at work or home with no additional cost to you.

You can purchase a policy with face values ranging from $100,000 and $8 million. This is more coverage than you will ever be able to buy life insurance without needing to conduct a medical and physical exam. You can up the face value of your policy via the Ladder Up method. This is done online and is designed, for example, for when you have another child. You can also Ladder Down if you need life insurance.

With Ladder Life, you can even extend your coverage for a limited amount of time. You can annually re-up your policy for a period of five years but your premiums may increase.

Cost and Price Plans

As with all life insurance companies, your rates will vary depending on your personal circumstances the rates tend to be similar to those offered by other online insurances. That being said, they offer some of the best quotes for large life insurance policies, namely those over $1 million in value - they are also a good choice for people who don’t want a medical and physical exam.

Ladder only offers life insurance to individuals who are older than 20 and younger than 60 years of age. You can’t purchase coverage in New York State, but you can purchase policies in most other areas of the United States.

Competitors and Alternatives

Shopping for life insurance sure can be frustrating -but now, there are plenty of online life insurance companies to help make the process a little easier. Some of the most popular include Bestow, Esurance, and Haven Life.

Haven Life is one popular online insurer. While this is another accessible online provider of insurance, this company requires medical examinations in almost every case. Plus, users report that it tends to be more difficult to work with Haven Life in the online setting, namely if you need to update your policy.

Bestow is an online life science company offering short- and long-term plans. There are no doctor visits required, but only 2-year level term policies 10-year level term policies, and 20-year level term policies are available.

Esurance is another popular choice - you have probably already heard of this company's reputation for car insurance, but they also offer life insurance. You can get term life insurance, universal life insurance, or even whole life insurance. You will need to speak to a life insurance agent in order to complete the process - it unfortunately is not entirely online.

Is Ladder Life Insurance Good?

The company has received decent reviews from customers. It is easy to use and underwriting decisions are offered up more quickly than with other providers. This is a great feature to have for people who don’t have a ton of time and a comfortable managing their own business decisions online.

The downside of Ladder Life Insurance is that most communication needs to happen online. Although the company does have agents, you will need to be comfortable with online communication because all other methods of communication are unavailable. The company doesn't offer a lot of information regarding life insurance policies, so if you’re looking for more information about how you will be covered, you will need to do this research on your own.

Otherwise, Ladder Financial, as it is referred to by the BBB, has good ratings. Established in California in 2017, the company's policies are underwritten by Fidelity Security Life Insurance Company. Fidelity Security has an A- financial strength rating from A.M. Best, which is one of the most ideal ratings a life insurance company can have.

Customer Service

Need to get in touch with someone at Ladder Life Insurance regarding your whole life insurance policy? Are you interested in learning more about the policies available? The easiest way to contact a Ladder Life Insurance agent is to message them from Monday to Friday during the hours of 8 am to 5 pm.

The company also has live chat during business hours. Both of these communication options are available via the company’s website. There are also social media channels on Facebook, Instagram, Twitter, LinkedIn, and YouTube that post regular updates and educational information.

Where to Buy?

You can sign up for Ladder Life Insurance and apply for a policy by visiting the company’s website.

Is Ladder Life Worth It?

If you’re under the age of 60 and are seeking temporary life insurance coverage, Ladder Life Insurance is the way to go. Although there are some restrictions over who can apply and whether you will need a medical and physical exam, this company offers generally decent rates, namely if you are looking for a policy over $1 million. You can apply online and conduct all of your business entirely online as well, making it one of the more convenient life insurance providers in the country.

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