Ladder is an innovative life insurance company that offers term life insurance policies with coverage amounts that can be adjusted throughout the length of the term. The ability to make coverage adjustments to your term life policy makes Ladder stand out as an insurer.

Coverage can be decreased at any time. Policyholders can also apply to increase their insurance coverage. Changes in the death benefit amount also affect the monthly insurance premium. This adjustable strategy can make it easier for people to have affordable life insurance and save money by just paying for the amount of coverage they need as their life changes.

Ladder's term life policies are issued by Fidelity Security Life Insurance Company located in Kansas City, Missouri.

Interested individuals can apply and be approved for a LadderLife™ policy online. Some applicants will be asked to have a medical exam as part of the approval process and underwriting, which makes the application and approval process longer for some customers.

Those looking for a flexible and affordable term life insurance plan should consider LadderLife™ insurance coverage. Learn more details by reading our Ladder life insurance review.

The Good

  • Quick Online Application and Approval Process
  • Adjustable Term Coverage
  • Reliable Term Life Policies
  • Licensed Insurance Professionals

Quick Online Application and Approval Process

Consumers can apply for a Ladder term life insurance policy using a quick online application. Some applicants are required to undergo a medical exam as part of the approval and medical underwriting process.

The exam is free and can be scheduled at each applicant's convenience.

The simple and convenient life insurance application process is a positive aspect of Ladder.

Adjustable Term Coverage

Ladder stands out from other life insurers for the level of flexibility incorporated into its term insurance plans.

With a LadderLife™ policy, policyholders can instantly decrease or apply to increase coverage as their needs change. For example, if you pay off your student loans, mortgage, or your financial obligations change, this flexibility allows you to raise or lower your coverage. The coverage is the death benefit amount Ladder pays to the policy beneficiaries if the insured were to pass away during the term.

Increasing coverage will also increase the monthly life insurance premiums. Lowering coverage decreases the monthly premium that policyholders pay.

Ladder also offers a 30-day, money-back guarantee.

When purchasing a term life insurance policy from Ladder, customers can choose a length of 10, 15, 20, 25, or 30 years.

LadderLife™ policies can be purchased by U.S. citizens or permanent residents who have been in the country for at least two years. Applicants must also be between ages 20 and 60.

Coverage through a LadderLife™ policy ends at the end of the term length selected. However, Ladder does not provide life insurance coverage past age 70.

Reliable Term Life Policies

Ladder's policies are issued by Fidelity Security Life insurance Company, which has a high financial strength rating. This high rating indicates a company's financial stability and future ability to meet claims obligations.

Ladder's policies are also insured by Hannover Life Reassurance Company of America. This company also has high financial strength ratings.

Even though there are other insurance companies with more industry experience, Ladder is a trustworthy insurance carrier because Ladder's insurance policies are issued by a financial strong company and insured by another financially strong company.

Licensed Insurance Professionals

Ladder pays its licensed insurance representatives salaries, not commission. Customers can be confident that they will receive high quality customer service and will not be talked into a more expensive policy when working with a Ladder representative to buy life insurance.

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The Bad

  • No Permanent Life Insurance
  • No Replacement Life Insurance
  • No Riders

No Permanent Life Insurance

While some life insurers offer multiple life insurance policies —both permanent and term — Ladder only offers term life insurance. Ladder does not offer permanent life insurance policies. 

Unlike term life policies, permanent life insurance policies remain in effect for your lifetime as long as you pay you pay the premiums. 

Permanent policies also accrue cash value that you can use while living. Whole life insurance policies accrue cash value at a set rate. Universal policies have more flexibility in investment choices. 

Customers looking for a whole life policy or universal life policy will need to consider companies.

Ladder also does not offer final expense insurance. Final expense insurance or burial insurance is designed to only provide coverage for final expenses.

However, Ladder is an excellent choice if you're interested in term life insurance.

No Replacement Life Insurance

Ladder only takes applications from applicants who are not looking to cancel and replace an existing policy and people looking for supplemental life insurance coverage.

If you're planning to cancel your current policy and replace it with a new term policy, Ladder is not an option for you.

No Riders

Many life insurance companies offer riders that provide additional coverage or flexibility at an additional cost. Ladder does not offer riders with its life insurance policies. If you're interested in an insurance policy with riders, you'll need to consider another life insurance carrier.

The Bottom Line

Although there are pros and cons with Ladder life insurance, the pros outweigh the cons for those buying a term life insurance policy. Customers can choose the length of the term and adjust coverage throughout the term.

This flexibility allows clients to adjust the benefit and premiums of their insurance policy as their financial situation changes. This flexibility makes a Ladder term life policy stand out from other term insurance coverage offered by other insurers.

While Ladder does not offer riders with its policies, the level of flexibility within its term policies is hard to find elsewhere.

If you're interested in riders or considering other coverage options, you may want to look at another insurer.

Buying life insurance from Ladder involves an easy application process and underwriting process, which also makes it a good option for those seeking to buy life insurance quickly. Customers looking for a great term life insurance policy will find affordable coverage and flexibility with LadderLife™.

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