Ladder life insurance review: Great for 60 & under
Ladder offers term life insurance for people up to age 60 for up to $8 million in coverage, including a no-medical-exam option for up to $3 million in coverage.
By
Logan SachonLogan SachonSenior Managing Editor, Life Insurance & ResearchLogan Sachon is a former senior managing editor of life insurance and research at Policygenius. As a journalist, her work has appeared in The Guardian, Business Insider, CNN Money, BuzzFeed, Money Under 30, VICE, New York Magazine, and elsewhere.
Edited by
Julia KaganJulia KaganContributing EditorJulia Kagan is a contributing editor at Policygenius, where she specializes in life insurance. Previously, Julia was the senior personal finance editor at Investopedia for nearly a decade, a vice president and editorial director at Consumer Reports, the editor of Psychology Today, and the vice president of content at Zagat Surveys.
Our proprietary ratings methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the “Ratings methodology” section for more details.
4.4
AM Best rating
AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).
A
Cost
Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).
NA
The bottom line
Ladder offers term life insurance with an online application for coverage amounts between $100,000 and $8 million, with coverage of up to $3 million available without a medical exam. But you have to be age 60 or under to apply, and no riders are available.
Note: Ladder products are not available through the policycentral marketplace.
No medical exam required for coverage amounts under $3 million
Online-only application
Cons
Only available to people age 60 and under
No riders available
Basic coverages offered
Term life insurance: Ladder offers term life insurance to people age 20 to 60 for coverage amounts between $100,000 and $8 million, and for term lengths of 10, 15, 20, 25, and 30 years. Coverage up to $3 million is available without a medical exam.
Ladder does not have a price rating, as we were unable to obtain a quote for Standard rates for a 20-year term policy with $1 million in coverage, the sample policy we use in our price rating scale.
Customer experience
5.0/5
Our customer experience scale uses data from the National Association of Insurance Commissioners (NAIC) complaint index. Fidelity Security Life Insurance, the company that underwrites policies for Ladder, has a score of 0.25 which means it receives far fewer complaints than expected for a company of its size. (The expected number would be 1.0.)
Transparency
4.1/5
Our transparency rating scale measures how easily shoppers and policyholders can find information about an insurer on its website. Ladder gets points for having clear contact information, a support hub, and live chat. It also gets points for having policy details posted. But it loses points for not having average rates clearly posted outside of its quoting tool.
Financial strength
3.8/5
Our financial strength rating is a weighted combination of three industry-leading metrics to measure a company’s financial health: AM Best, Standard & Poor’s, and Moody’s. Fidelity Security Life Insurance, the company that underwrites policies for Ladder, has an A rating from AM Best, and is not rated by Standard & Poor’s or Moody’s.
A closer look at Ladder
Who is Ladder best for?
Ladder is best for young adults with few or no health conditions who want to get coverage without a medical exam.
What makes Ladder unique?
Ladder is unique in that it only offers term life insurance (while most insurance companies also offer additional types of life insurance). Also, while many companies let you personalize your coverage with riders, Ladder does not — not even an accelerated death benefit rider, which is commonly included at no extra cost with most term life policies.
Ladder is also unique in that it lets you lower your coverage, or apply to increase your coverage, whenever you want. (Many companies have restrictions on when and how often you can change your coverage amount.)
Who should consider a different life insurance company?
People over age 60 will not be able to find coverage with Ladder. However, they still have lots of other options. A good place to start is our list of the best life insurance companies for seniors.
Ladder life insurance rates
Ladder does not publish its life insurance rates.
Ladder’s history, reputation, and social responsibility
Ladder was founded in 2015 in Palo Alto, California, and sold its first life insurance policies in 2017. By 2020, it offered life insurance to people in all 50 states. [1]
Ladder issues policies from Fidelity Security Life Insurance Company. (In New York, its policies are issued by Allianz Life Insurance Company of New York.) [2]
Ladder plants a tree for every policy it places. In 2022, Ladder was named one of the top places to work in the Bay Area by Fortune and Great Place to Work. [3]
Ladder in the news
In January 2023, Ladder partnered with AmeriSave Mortgage Corporation to offer life insurance to its customers. (Coverager)
In September 2022, Geico started sending its life insurance leads in certain states, including CA, NY, and IL, to Ladder. (Coverager)
Ladder vs. other life insurance companies
Compare Ladder to similar life insurance companies using the table below.
Ladder is a startup life insurance company that sells policies underwritten by Fidelity Security Life Insurance Company and Allianz Life Insurance Company of New York.
Who owns Ladder life insurance?
Ladder is a privately-held company.
How do I contact Ladder?
To contact Ladder, including the claims support team, call 844-533-7206 or visit the Ladder website.
References
policycentral uses external sources, including government data, industry studies, and reputable news organizations to supplement proprietary marketplace data and internal expertise. Learn more about how we use and vet external sources as part of oureditorial standards.
Logan Sachon is a former senior managing editor of life insurance and research at Policygenius. As a journalist, her work has appeared in The Guardian, Business Insider, CNN Money, BuzzFeed, Money Under 30, VICE, New York Magazine, and elsewhere.
Julia Kagan is a contributing editor at Policygenius, where she specializes in life insurance. Previously, Julia was the senior personal finance editor at Investopedia for nearly a decade, a vice president and editorial director at Consumer Reports, the editor of Psychology Today, and the vice president of content at Zagat Surveys.
