Ladder vs State Farm

While State Farm has a wider variety of policy types than Ladder, State Farm is not FDIC insured. However, State Farm also claims high financial strength ratings. More information on financial strength ratings is only available by contacting a State Farm Agent directly. 

Ladder’s life insurance policies are issued by a life insurance company with high financial strength ratings and insured by another company with its own high financial strength ratings. Even though Ladder only offers term life insurance policies, policyholders can be confident in Ladder’s ability to pay its claims.
Ladder logo verified_user
#33 Ladder
4.0 Overall Score
0
starstarstarstarstar
(0)
State Farm logo
#18 State Farm
4.9 Overall Score
4.5
starstarstarstarstar_half
(8)

Overview

Ladder

State Farm

Financial Strength
Financial Strength
Not Applicable
A++ (A.M. Best)
Term Policies
Term Policies
Yes
Yes
Whole Policies
Whole Policies
No
Yes
Universal Policies
Universal Policies
No
Yes
Final Expense Policies
Final Expense Policies
No
Yes
Time In Business
Time In Business
5 Years
98 Years

Ratings

Ladder

State Farm

Overall Score
Overall Score
4.0 of 10
4.9 of 10
Review Score
Review Score
0.0
starstarstarstarstar
4.5
starstarstarstarstar_half
Value for Money
Value for Money
0.0
starstarstarstarstar
4.4
starstarstarstarstar_half
Quality of Product or Service
Quality of Product or Service
0.0
starstarstarstarstar
4.5
starstarstarstarstar_half
Customer Service
Customer Service
0.0
starstarstarstarstar
4.5
starstarstarstarstar_half
Company Trustworthiness
Company Trustworthiness
0.0
starstarstarstarstar
4.5
starstarstarstarstar_half
Likely to Recommend
Likely to Recommend
0.0 of 10
9.0 of 10

Reviews

Ladder

State Farm

Number of Reviews
Number of Reviews
0
8
Review Breakdown
Review Breakdown
0.0
starstarstarstarstar
5 star
0%
4 star
0%
3 star
0%
2 star
0%
1 star
0%
4.5
starstarstarstarstar_half
5 star
63%
4 star
25%
3 star
13%
2 star
0%
1 star
0%

Reviews for Ladder

Helpful Favorable Review

None Available

Helpful Critical Review

None Available

Reviews for State Farm

Helpful Favorable Review

starstarstarstarstar

Kaitlyn Rios

September 30th, 2020 Ogden, UT DETAILS arrow_drop_down
Value for your money
starstarstarstarstar
Quality of product or service
starstarstarstarstar
Customer service
starstarstarstarstar
Company trustworthiness
starstarstarstarstar

State Farm has been an excellent source for my extra life insurance policy. Great low rates and comprehensive coverage to avoid financial issues should something tragic happen. They have insurance experts that ask all the right questions.


Helpful Critical Review

None Available

The Final Word

Ladder’s term life insurance policies have adjustable coverage, which means that policyholders can adjust coverage throughout the term of the policy by applying for more or instantly decreasing coverage.

Ladder also has a quick application and decision process. Most people will not have to have a medical exam for underwriting, though it is required in some cases. Its agents are also salaried, so there is no upselling, which is a nice feature for clients.

State Farm offers term, whole, universal, variable universal life insurance policies. It also offers group life insurance policies that employers can offer their employers. These offerings make State Farm advantageous for employers and those interested in a permanent life insurance policy. While State Farm is a trusted company, offers more options, and claims high financial strength ratings, it is not FDIC insured. 

In contrast, Ladder’s life insurance policies are issued through Fidelity Life Insurance Company. This company has high financial ratings. The policies are also insured through Hannover Life Reassurance Company of America, which has high financial ratings itself.

Ladder is a good choice, especially if you want to buy term life insurance.

top choice

State Farm
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