As Ladder Life Insurance builds its brand, the insurance agency currently only offers online customers a limited-term life insurance portfolio.
You may have heard of Ladder Life because of its speedy online application process popularized by there massive online advertising budget.
Younger healthy applicants looking for an easy application process may find Ladder Life Insurance the perfect agency to secure coverage for their families.
We encourage shoppers to read our extensive Ladder Life Review before hastily purchasing any of their financial products.
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About Ladder Life
So, is ladder life insurance a legitimate company? Yes, Ladder Life is undoubtedly a legitimate FinTech company recently formed in 2015.
Is Ladder life an insurance company?
No, like other FinTech companies like Bestow Life and Ethos Life, the Ladder Life Insurance Company is actually considered a licensed insurance agency and third-party administrator.
Ladder Life has created an online platform that allows you to quickly apply for life insurance with the promise of a speedy approval time.
Ladder Financial will handle all insurance company interactions and paperwork to make the application process more manageable.
Ladder life insurance policies are available in all 50 states and are sold through its three partner life insurance companies.
Policies in most states are marketed through both Allianz Life Insurance Company of North America and Fidelity Security Life Insurance Company.
While its insurance policies issued in New York are sold through the Allianz Life Insurance Company of New York.
So, these are the insurance companies that will provide coverage if you decide to purchase a policy.
Ladder Life Financial Ratings
Ladder Life Financial RatingsDo you want to know more about the financial ratings of life insurance companies that Ladder Financial uses for coverage?
Not a problem!
Allianz Life Insurance has received A+ (Superior) financial strength ratings from AM Best.
While Fidelity Security Life Insurance Company has an adequate financial rating securing an A (Excellent) rating from AM Best.
Ladder Term Life Insurance
Ladder Term Life InsuranceThe term coverage limits range from $100,000 to $8 million and are available to applicants aged 20 to 60.
All of their level term life insurance is guaranteed not to change for the entire term length of your selected policy. Policies are available with 10,15, 20, 25, and 30-year term durations.
Ladder Life is trendy for younger time-crunched buyers but does not offer a 40-year term length that is popular with many millennials.
Their policies are unique because their term coverage is only available to a maximum covered age of 70.
You can initially buy term coverage between the ages of 20 to 60 for term periods ranging from 10 to 30 years. But, applicants may not choose a term that provides coverage beyond age 70.
Suppose you only need your coverage extended briefly after your initial term expires. In that case, Ladder Life allows you to renew your policy annually for up to five years.
Ladder Life does not offer any policy riders that most insurance companies commonly provide.
The company’s name, Ladder Life Insurance, is a clever play on words. It refers to laddering, which allows policyholders to adjust their coverage as needed – all within one insurance contract!
Coincidentally, Ladder term life insurance policies offer the unique ability to adjust your death benefit as your financial needs change.
- Increase your death benefit. You can apply to increase your policy’s death benefit if your needs become more significant.
- Decrease your death benefit: You can reduce your policy’s face value if you need less life insurance coverage.
However, for many years, professional life insurance agents have regularly used a life insurance laddering strategy to customize coverage for their clients.
How Life Insurance Laddering Works
Life is unpredictable, so it’s best not to count on one policy for the whole ride and instead have two different policies that can be staggered according to evolving needs or circumstances.
You can create a life insurance ladder with any insurance company. So, don’t be afraid to customize your life insurance!
With a term life insurance ladder, you can save on the cost of your premiums by providing coverage for each major financial obligation.
Let’s assume you are a self-employed 50-year-old that owns a home and needs a $1 million life insurance policy.
Life insurance laddering saves money by purchasing two policies with different term lengths instead of one more expensive one.
- First, buy a $500,00 policy for twenty years to protect your income until you retire. This policy will only continue for twenty years until you reach retirement age.
- Then, buy another $500,000 term life policy for thirty years to cover a mortgage loan. The coverage will end when your mortgage balance is paid off in thirty years.
Life Insurance Laddering
| Term | Death Benefit | Premium |
| 20-year | $500,000 | $838 |
| 30-year | $500,000 | $1,506 |
| 30-year | $1,000,000 | $2,883 |
Two policies can let you cover your needs more accurately than any single policy at a cheaper cost than buying one term policy for thirty years.
Using a laddering strategy, you will save $539 a year during the first twenty years by staggering two policies.
After the 20-year term expires, you would save even more because you would no longer be paying $838 for the 20-year term policy.
Although laddering your policies may be a good way for older applicants to save money, it’s not the best fit for everyone.
If you are younger, the cost savings of layering policies is not as great, and you should only buy a 30-year term policy.
Applying for Ladder Insurance
Applying for Ladder InsuranceLadder Life insurance is undoubtedly not for everyone, but if you do not want to deal with an agent, they might be right up your alley.
What are the Ladder Life sweet spots?
We have found that they offer decent rates on death benefits under $250,000, but they are still not the most affordable in the marketplace.
They also offer substantial face amounts online without a medical exam, practically unheard of with today’s underwriting guidelines.
How does Ladder Life Insurance work?
Typically, many people want to know the answer before they go through with applying for coverage.
Ladder prides itself on its quick, online application process.
All you have to do is head to their website on your desktop or mobile device and select ‘Apply Now’ on their homepage.
You’ll need to provide a tremendous amount of personal information to get a Ladder life insurance quote.
Some of the required information includes; full name, email, address, phone number, gender, birth date, height, and weight.
Then you will need to answer a multitude of health and lifestyle questions. These questions include employment, alcohol consumption, drug use, citizenship, and Social Security number.
The application process is completed online and promises to take around five minutes (plan on a much longer time frame).
If you have questions during your application, call the ladder life insurance phone number at 1-844-533-7206.
Many healthy applicants receive an approval decision within a few weeks without a medical exam.
However, you probably need to take either a saliva test or a medical exam before your application is approved if you have any medical conditions.
Ladder Life Insurance Quotes
Life insurance is a critical decision that should only make with extensive personal research.
With so many plans, it can seem like an overwhelming process for those who don’t know what type of policy they need.
Luckily there’s our life-changing insurance calculator!
We help healthy people, and those with many medical problems purchase life insurance electronically.
Whether you need term life or universal life insurance quotes, we have hundreds of companies within a mouse click.
Compare Ladder Life Insurance Quotes
- Select Duration
- Select Amount
- Press Get Quote
Ladder Life Insurance Review
Ladder Life Insurance ReviewLadder Life is a straightforward, no-nonsense company. Its online life insurance application is easy to use, and many customers particularly enjoy how quick it is to receive an underwriting decision.
This underwriting process is an excellent option for busy people that understand life insurance already.
It is not for applicants who don’t know what type of policy or coverage suits their needs or wish to speak with an insurance agent through the entire process.
They have a support team of licensed life insurance agents who do not work on commission.
They will try to answer any questions and help you get the right policy. However, almost all communication between applicants and the company will occur online.
You can chat online with a live agent whether you have questions about a new policy or need to change your existing policy.
We recommend reviewing the pros and cons of working with Ladder Life before purchasing.
THE PROS OF WORKING WITH Ladder Life
- Quick application process – Their technology makes their underwriting process fast, allowing users to get a quote within minutes without speaking to an agent, and no medical exam is often required.
- Ladder life insurance calculator – Offers an online life insurance calculator that allows you to estimate your coverage needs based on preliminary questions about your coverage goals.
- Significant online policies – You could potentially buy up to $8 million of coverage online.
THE CONS OF BUYING A Ladder POLICY
- Limited plan options – Only term life insurance is available. Universal and whole life insurance are neither available nor are term life conversions.
- Medical issues– Many people with common medical problems will not qualify for coverage with Ladder life insurance.
- No riders – Currently, they do not offer any riders that you can add to your life insurance policy.
- Price – Because Ladder often does not require a medical exam to receive coverage, their policy prices are above average.
- Age limitations – You can purchase term coverage between the ages of 20 to 60 for term periods ranging from 10 to 30 years. But, you may not choose a term that provides coverage beyond age 70.
Why Choose Affordable Life USA?
Why Choose Affordable Life UAnytime you’re shopping around for a life insurance policy, comparing rates with many carriers is essential.
The Ladder Life Insurance Company is a technology company in the life insurance business.
Ladder Life is set up to sell policies without human involvement in its sales process. They only offer customer service and some product help from non-commissioned licensed insurance agents.
They use algorithms to make underwriting decisions bypassing agents and underwriters to sell their term life insurance policies. Not everyone will qualify for a life insurance policy!
Plus, only term life insurance plans are offered by Ladder Financial. They do not provide cash-value policies such as universal or whole-life coverage.
Because of this, all current term policies cannot be converted into permanent coverage at the end of your term.
If you want convertible term life or coverage that will last the rest of your life, you should consider buying a policy from Affordable Life USA.
We can utilize insurers like Protective, Lincoln, Prudential, Pacific, and Transamerica to find the best rates in today’s marketplace.
Life insurance is a major financial decision, and we want you to have all the information possible before making an important choice.
That’s why our team of experts will answer any questions that might come up about your coverage.
With just one click on our handy life insurance calculator, users may choose affordable plans offered by hundreds of companies without speaking with an agent.
If you’re unsure what kind of coverage might be right for you or if it’s time to compare prices, call us today!
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Affordable Life USA is dedicated to providing comprehensive life insurance solutions to families and business owners throughout the United States.
For over thirty years, our agency has provided a platform for comparing hundreds of life insurance policies without the stress of high-pressure sales tactics.
Our experienced team of financial planners has helped thousands of clients obtain affordable coverage through our efficient online application process.
Our founder, Eric Van Haaften, expanded our consumer-centric sales model nationally by leveraging the influence of renowned publications such as Time, Newsweek, and The Wall Street Journal.
Eric acquired his love for quantitative analysis while getting his business degree from Ferris State University, which provided a solid foundation for his analytical approach to financial planning.
Eric Van Haaften, LUTCF
1-877-249-1358
