Ladder vs State Farm

Alice Stevens
Alice Stevens | Senior Editor
State Farm has a wider variety of policy types than Ladder. 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 reinsured by other companies with their 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
#38 Ladder Insufficient Reviews
0.0
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(0)
State Farm logo
#9 State Farm
8.2 Overall Score
4.5
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(12)

Overview

Ladder

A.M. Best Financial Strength Rating

N/A

Policy Types

Term

Type of Underwriting Offered

Full

Purchase Process

Online

Time in Business

6 Years

State Farm

N/A

Term, Whole, Universal

Full, No Exam

Work with Agent or Advisor

99 Years

Ratings

Ladder

Overall Score
1.5 of 10
Review Score
0.0
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Value for Money
0.0
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Quality of Product or Service
0.0
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Company Trustworthiness
0.0
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Likely to Recommend
0.0 of 10

State Farm

8.2 of 10
4.5
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4.5
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4.5
star star star star star_half
4.6
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9.3 of 10

Reviews

Ladder

Number of Reviews
0
Review Breakdown
0.0
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State Farm

12
4.5
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5 star
67%
4 star
17%
3 star
17%
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

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Review Source

star star star star star

Jmarsh Macomb, MI

State Farm has been a local company in the small town I grew up in and employs local community members, thus, my family has trusted them to draft up life insurance policies to cover the unforeseeable future. We take comfort in the small town experience run by a major company. We have always been well respected and have never had any issues with State Farm. I have been a satisfied customer investing in life insurance, rental insurance, and car insurance.

3 months ago

Helpful Critical Review

None Available

The Final Word

Term life insurance policies offered by Ladder 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. People applying for up to $3,000,000 in coverage will not have to have a medical exam for underwriting. However, they'll need to answer health questions as part of the application. A medical exam may be required for applicants seeking more than $3,000,000 in coverage. 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.

In contrast, Ladder’s life insurance policies are issued through Allianz Life Insurance Company of North America and Allianz Life Insurance Company of New York. These companies have all received high financial ratings.* The policies are also reinsured through multiple reinsurers, that have high financial ratings.

Ladder is a good choice, especially if you want to buy term life insurance.
 
*Allianz Life Insurance Company of New York and Allianz Life Insurance Company of North America have been rated A+ (Superior) – affirmed October 2021 based on an analysis of financial position and operating performance, by A.M. Best Company, an independent analyst of the insurance industry. For the latest rating, access www.ambest.com.

Ladder Insurance Services, LLC (CA license # 0K22568; AR license # 3000140372) offers term life insurance policies: (i) in New York, on behalf of Allianz Life Insurance Company of New York, New York, NY (policy form # MN-26); and (ii) in all other states and the District of Columbia on behalf of Allianz Life Insurance Company of North America, Minneapolis, MN (policy form # ICC20P-AZ100 and # P-AZ100). Only Allianz Life Insurance Company of New York is authorized to issue life insurance in the state of New York. Insurance policy prices, coverages, features, terms, benefits, exclusions, limitations and available discounts vary between these insurers and are subject to qualifications. Each insurer is solely responsible for any claims and has financial responsibility for its own products.

Top Choice

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State Farm

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