Ladder Life Insurance Review

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Instant. Simple. Smart.

Ladder, a digital life insurance platform, was founded in order to offer next-generation life insurance to consumers – with a focus on speed, ease, and intelligence.

And, there’s never been a better time for life insurance companies to be internet-based.

Almost 1 in 3 purchased or attempted to purchase life insurance online.

Ladder is here to provide that exact experience.

Ladder Key Points

  • Offers term life insurance
  • Completely online application
  • Medical exam is not required for up to $3 million in coverage
  • Manage policy digitally

Here, you will find the important aspects of Ladder – including their products, application process, and frequently asked questions – so that you have a comprehensive understanding of the company.

Table Of Contents

  1. Overview
  2. Policy Details
  3. Application
  4. FAQs
  5. Partnerships
  6. Investors
  7. Summary

Our Ladder Life Insurance Review: Key Features

LadderLife logo red and white

Headquartered in Palo Alto, California, Ladder was founded in 2015.

Fairly new to the block, in 2017, Ladder first introduced their products to California.

Today, Ladder is available in all 50 states and the District of Columbia.

As a life insurance startup, Ladder offers term life insurance via a direct-to-consumer sales process. They do not employ commissioned agents and their products are sold completely online.

Ladder has partnered with Allianz Life Insurance Company of New York to issue the policies in New York. Allianze Life Insurance Company of North America issues policies in all other states and the District of Columbia. Policies are reinsured thorugh multiple reinsurers. – Ladder

Policies through Ladder are reinsured by multiple reinsurers, including Hannover Life Reassurance Company of America and PartnerRe.

Ladder’s Mission

Their goal is ambitiousclose the approximately $12 trillion life insurance coverage gap in the United States.

Ladder’s approach to closing the gap is clear-cut – remove the traditional red tape associated with purchasing a life insurance policy:

  • No need to schedule an appointment with an agent
  • No paperwork
  • Coverage is available at your fingertips if you qualify

In fact, 60% of Ladder’s customers use their smartphones to apply for coverage (no computer necessary).

Impressively, in the first 200 days after launching, Ladder wrote over $300 million in coverage.

Term Life Insurance

Ladder only sells term life insurance.

Keep in mind, term life policies provide coverage for a specific period of time, typically when you need it most. For example, you may only need financial protection during your working years.

Ladder’s life insurance is available in the following term lengths:

Face amounts range from $100,000, up to $8,000,000.

Click here to use their calculator to see how much you need.

Highly qualified applicants will be able to get through the process the fastest, while others may need to offer additional details in order to get approved.

Ladder guarantees no medical exams for up to $3 million in coverage. You just have to answer a few questions as part of the online application.

Life insurance is a fundamentally great product for families and communities. – Jamie Hale, co-founder, CEO, Ladder

For many families, term life insurance is a great fit. Term policies are the most common form of coverage sold because they typically provide a large face amount at an affordable rate.

Ladder’s Application Process

Your application will be completely digital.

Steps in a nutshell

  1. Select a face amount and term length.
  2. Answer a series of health and lifestyle questions online.
  3. Receive an instant decision.

Steps in detail

Ladder’s comprehensive application process is intuitive and user-friendly.

Plan to answer the following questions, in this order.

1. Determine how much life insurance you need and for how long

Select a coverage amount from $100,000 to $8,000,000.

Determine your appropriate term length – 10, 15, 20, 25, or 30 year term.

2. Respond to questions about who you are

In order for Ladder to determine if you qualify for coverage, they will need to gain an understanding of who you are through a series of questions.

Ladder has digitized the entire process, and you are able to answer all application questions online.

Depending on your health and lifestyle, the process usually only takes minutes.

In cases where the underwriting process provides enough information for Ladder to make an immediate approval decision, you will not be required to complete the exam and coverage can begin as soon as you make your first payment.

If you have experienced health complications, participate in extreme sports, or have other lifestyle factors, your application will take longer because you will need to provide specific information pertaining to those topics.

Like most life insurance applications, be ready to provide some of the more basic information, including:

In addition to these, you may be asked about any hazardous hobbies or activities you’re involved in, medications or prescriptions you take (or have in the past), or any other information they would need to make an informed decision.

Next, you will review your application, agree or edit, and apply an electronic signature.

3. Obtain your application decision

Based on your application, you will receive one of three decisions within seconds.

  1. You are approved
  2. You will need to complete additional underwriting steps
  3. You are declined

Frequently Asked Questions

Do I qualify for a Ladder insurance policy?

There are two primary requirements you must meet in order to purchase a Ladder policy.

Resident Status

You must be a United States citizen or a (lawful) permanent resident, living in the U.S. for more than two years.

Age Requirements

Ladder only offers life insurance to those between the ages of 20 and 60.

In addition, available term lengths depend on your age. From age 20 to 40, you have access to the full suite of term lengths.

Here’s how it breaks down thereafter:

Ladder Life Maximum Term Lengths

AgeMaximum Term Length
40 years old30 year term
45 years old25 year term
50 years old20 year term
55 years old15 year term
60 years old10 year term
Get Your Rates Quote Now

Subject to change. Age restrictions for Ladder Life term lengths.

In addition, Ladder will need to evaluate your application answers to determine if you qualify. Generally speaking, the healthier you are, the more likely you are to be approved for affordable coverage.

What is direct-to-consumer?

Ladder uses a direct-to-consumer business model. This means they issue life insurance policies directly to the consumer, and they do not employ commissioned agents.

Some of us prefer to buy directly online and skip the process of working with an agent.

Their customer experience representatives are, however, licensed to sell life insurance, so if you have questions, they’re qualified and knowledgeable enough to assist you.

Does Ladder only offer term life insurance?


Term life insurance is the most popular form of coverage. Why? Highly affordable, term coverage provides the most bang for your buck.

Term coverage allows you to secure protection for a specific period of time, say 20 years, when your beneficiaries need financial safeguarding.

However, for some, term life insurance may not be the best option. In this case, you will need to evaluate other life insurance companies.

Common scenarios in which term life insurance is not a good fit:

  1. Need for permanent protection
  2. Inability to qualify for term life insurance

Why do I have to answer so many questions about my health and lifestyle?

Life insurance companies absorb risk in exchange for life insurance protection.

In order to maintain financial strength, carriers will need to understand just how much risk they are absorbing with each applicant.

Because Ladder only offers traditional term policies, their application questions are comprehensive.

The good news – even though it’s somewhat unenjoyable, the process of answering those questions usually allows you to secure affordable premium rates – if you qualify.

Can I skip the medical exam?

Often, but not always.

Ladder guarantees no medical exams for up to $3 million in coverage. As part of the online application, you will need to answer health questions. If you’re applying for more than $3 million in coverage, you may be required to take a medical exam and determinations are made on a case-by-case basis.

For many applicants, it’s possible Ladder will offer life insurance without nurses, needles, or liquid samples.

Like many life insurance carriers, Ladder realizes many of us would prefer to buy life insurance without a physical examination.

And thankfully, no exam life insurance is becoming more common through advancements in technology and databases.

Note – during your application process, if you’re looking for more than $3 million in coverage, you may be required to undergo a medical exam.

Will my premiums remain level?

Yes, for whatever duration you choose.

Known as level term life insurance, it’s the most common form of term coverage.

Ladder calls it its, “price lock guarantee”. Your premiums will remain the same for the duration of your policy, regardless of whether or not your health changes, as long as you don’t seek to decrease your coverage or apply for additional coverage.

Can I increase or decrease my policy’s face amount?

Yes, and this is a pretty unique feature to Ladder in how it is executed.

Increase face amount: Ladder Up

In order to increase the amount of life insurance you have through Ladder, you will need to apply for more coverage and will be priced separately.

However, you are able to keep your existing policy in place.

The amount you can increase up to is $8,000,000 and you’ll be able to simply click to add from your online account. We found this to be particularly easy, since you don’t even have to re-enter most of your information.

Decrease face amount: Ladder Down

At any time, you have the ability to decrease your face amount without any fees.

Decreasing your face amount is accomplished entirely online, as well, and you have the ability to lower your coverage amount to as low as $100,000 if you wish.

Of course, if you do so, your premiums will drop in proportion to your new amount of coverage.

Are riders available?

No, which we find to be a bit of a drawback.

Riders are unavailable through Ladder. This is important to know.

Riders are benefits to your life insurance contract, in addition to the death benefit. They can make all the difference during a difficult time.

Consider the following common riders that other top carriers do offer:

  • Accelerated death benefit – Should you become critically, chronically or terminally ill, this rider will accelerate a portion of your death benefit.
  • Accidental death benefit – If you die in a qualifying accident, an additional death benefit amount is paid to your beneficiary.
  • Waiver of premium – If you are diagnosed with a qualifying disability, your premiums can be waived and your policy will remain in force.

Before you move forward in buying coverage, know whether or not riders, and which ones, if any, make sense for you.

What’s good about Ladder?

Ladder is doing a number of things right.

  1. Instant. You can secure coverage in a matter of minutes if approved.
  2. Simple. The entire application process is completed online. No paper, no appointments, and no inconveniences.
  3. Smart. Through the use of data and technology, Ladder is a next-generation life insurance offering.
  4. No policy fees. You are never charged fees for your policy. (Many carriers have annual fees.)
  5. Competitive rates. Ladder’s term rates are often affordable and competitively priced.
  6. Money back guarantee. Ladder will refund your money within the first 30 days if you are not satisfied.

What concerns should I have about Ladder?

Before applying, there are some important details you should know.

  1. One company. Ladder only sells policies from Allianz Life Insurance Company of New York and Allianz Life Insurance Company of North America. You will not receive multiple quotes from multiple carriers.
  2. No riders. Riders are unavailable. You may want a rider, or two, to make the most of your policy.
  3. Age restrictions. You must be between 20 – 60 years old to qualify.
  4. Only term. You are only able to buy term life insurance. For some, whole life insurance makes more sense.
  5. No independent agent. An independent agent sits on the same side of the table as you. They can shop multiple carriers to help you find the best rate.

Does Ladder have strong ratings?

Yes. Well, sort of.

Keep in mind, life insurance policies through Ladder are issued by Allianz Life Insurance Company of New York and Allianz Life Insurance Company of North America. And, policies are reinsured through multiple reinsurers.

Allianz Life Insurance Company of New York and Allianz Life Insurance Company of North America are both rated highly by independent financial credit-rating organizations, like A.M Best.


Impressively, Ladder has secured partnerships with top-notch, tech-savvy companies and products.

Ladder and SoFi

SoFi, a highly-rated personal finance company, has specifically partnered with Ladder to offer term life insurance.

You can apply for instant fully-underwritten term coverage on SoFi’s website (which you can do right here, as well).

In addition to term life policies, SoFi offers financial solutions for:

  • Student loan refinancing
  • Medical resident refinancing
  • Dental resident refinancing
  • Mortgages
  • Mortgage refinancing
  • Personal loans
  • Investments
  • Banking
  • Federal ParentPLUS refinancing

Ladder and Google Home

Google Home, a hands-free Google assistant, allows you to, “get answers, play songs, tackle your day, enjoy your entertainment and control your smart home with just your voice”.

Now, you can initiate a conversation with Google Home about life insurance, powered by Ladder.

Simply say, “Okay, Google. Tell me about Ladder.”

Google Home will guide you through a series of questions pertaining to your life insurance needs.

By the end of your conversation, you can receive an estimation of your life insurance needs, including face amount, term length, and a premium quote.

Ladder and Alexa

Alexa is Amazon’s version of a voice-controlled virtual assistant. You can, “play music, read the news, check the weather, set alarms, control compatible smart home devices, and more”.

Just like Google Home, Ladder is accessible on Alexa.

To start, say, “Alexa, launch Ladder.”

Your dialogue with Alexa will provide you with a ballpark figure on the best term life insurance policy to fit your needs, including costs, all from Ladder.


To date, Ladder has raised a remarkable $194 million in funding.

Ladder’s financial backing allows the company to focus on growth, including expanding its team of marketers and engineers.

The list of investors is impressive, including a number of venture capital firms and companies in the insurance industry:

Final Thoughts

We believe Ladder can make a difference in how life insurance is purchased today. While the product itself isn’t revolutionary, the buying experience is.

As Americans increasingly value their time and convenience in making a purchase, there are few carriers who are providing such an excellent experience when compared to Ladder.

Haven Life is is likely their nearest competitor, as are Principal and several others, but Ladder may have one of the fastest processes among all of them.

The lack of an agent as an intermediary is great for some, but not all, so we’re neutral on this point. For young, healthy applicants, though, we see this as a huge bonus.

Company Summary

Company Name (and Subsidiaries)Ladder Financial Inc.
Company RatingsA.M. Best (N/A)
Fitch (N/A)
Moody’s Investors Services (N/A)
Standard &Poor’s (N/A)
Comdex (N/A)
Headquarters (Address, Phone, Web)P.O. Box 456
Menlo Park, CA 94026
Phone: (855) 543-3944
Policy Types AvailableTerm