Ladder Life Insurance Review [2024] 

In a world where prices are rising 7% each year, it can feel hard to stay afloat. 

You might also worry about how your family would survive if something tragic happened to you.

Life insurance is one way to give your family financial protection, and getting covered is surprisingly easy.

With Ladder, a digital life insurance services provider, you can apply in just a few minutes and get coverage the very same day, if you qualify.

In this Ladder life insurance review, I’ll explain how it works – and help you decide if it’s worth it for you and your family.  

What is Ladder?

Ladder is a life insurance services company with flexible terms and a streamlined application process. 

There are a few things that set Ladder apart from most life insurance providers:

• You can apply for and manage your policy entirely online (for policies up to $3 million).
• You can get coverage within a few minutes of applying, if you qualify.
• You can apply to increase or decrease your coverage as you go.

All of this makes Ladder a great option for anyone who wants flexibility from their life insurance policy. You can apply today and get coverage right away, then update your policy as your needs and expectations change. 

Imagine, for example, that you want more coverage now so that your family could pay off your mortgage if you passed away. But in 10 years, when you’ve paid off that mortgage yourself, you could decrease the coverage – and decrease your monthly premium as a result.

Since it prioritizes flexibility, Ladder offers only term life insurance, not permanent or “whole life” insurance. That means you can only take out policies that last for a given period of time. 

So, if it’s permanent insurance you’re after, you’ll have to find a different provider. But if it’s the lower prices of term insurance you want, then Ladder is a fantastic (and flexible) option.  

How Does Ladder Work?

I’ve established that Ladder is a digital insurance services provider, so now it’s time for this Ladder life insurance review to describe the application process in detail. 

Ladder offers term life insurance with coverage from $100,000 – $8 million.

If you’re applying for $3 million or less in coverage, you won’t need to complete a medical exam, and you can complete the application process online, which includes some health-related questions. That’s the convenience that attracts people to Ladder!

If you want more than $3 million in coverage, you’ll need to do a “health check.”  But don’t worry, it still won’t be some overly-intrusive process. It’s free, and “you can even do it yourself from” home. 

Getting life insurance through Ladder is a simple three-step process:

• Step 1: Complete your application. Head to the official Ladder website and click “Get my price.” From there, you’ll have to answer some basic questions and provide information about your medical history. 
• Step 2: Receive instant approval. You should see your options immediately– which is an awesome time-saver (if you qualify).
• Step 3: Activate your policy. Take a look at your policy details, and then accept them and submit your first payment to get immediate coverage. 

Once your coverage starts, you can cancel within 30 days and get a full refund. And even after 30 days, you can still cancel without any cancellation fees. You just won’t get a refund on the premiums you’ve already paid. 

All policies through Ladder are term life insurance, and coverage can last between 10 and 30 years. When the term is up, you’ll stop making payments and your coverage will end. 

Is Ladder Legit?

Ladder is totally legit. This isn’t some rinky-dink outfit, but a company with over 100 employees and headquarters in Palo Alto, California. 

Even though Ladder was just founded in 2015, it’s already provided more than $67 billion in life insurance coverage. 

Ladder distributes term life insurance products that are issued by multiple highly rated insurers.

Is Ladder Safe? 

Ladder is completely safe to use. 

Why am I so sure? 

Because Ladder’s customers consistently praise the company online. I think that’s a pretty good sign that they’re not getting scammed or swindled!

On Trustpilot, users give Ladder an average of 4.8 stars. That’s an amazing rating! 

I also can’t find any bad press about Ladder online. Sometimes, a quick internet search about a company unearths all sorts of horrors (class action lawsuits, a toxic culture, all that fun stuff), but not with Ladder!

So, it’s safe to say that Ladder is a company you can trust. 

Pros and Cons of Ladder

Ladder is a great choice for lots of people, but it’s not the best in every single category. That’s why I’ve laid out the pros and cons to consider. 

Pros

• You can receive same-day coverage. And if you’re applying for $3 million or less in coverage, you won’t even have to complete a health check.

• Lower prices. With its digital structure and commitment to term policies (as opposed to whole-life policies), Ladder’s premiums are generally reasonable. For example, a healthy 30-year-old male could get $1 million in coverage for a 10-year term for just $30 per month.

• You can apply to change your coverage in the middle of the term. And thanks to Ladder’s user-friendly digital interface, you can do it right through your online Ladder account!

Cons 

• No permanent or whole-life insurance. With Ladder, term life insurance is your only option. 

• No riders. You can’t tack on extra provisions to your life insurance policy. The simplicity can be nice, but it also limits your options. 

• Strict age-related restrictions. You can’t take out a policy if you’re over 60, and your term can’t go past your 70th birthday. 

Ladder Reviews

Ladder has 4.8 stars on Trustpilot, which means the vast majority of users are leaving positive reviews.

In a 5-star Ladder life insurance review, someone said Ladder made “buying peace of mind peaceful.” High praise and poetic, too!

Another Ladder customer agreed, saying the entire process of getting life insurance took less than 10 minutes.

And while Ladder does get negative reviews, most of them seem to focus on frustrations about the life insurance process itself, not on Ladder as a company. 

In a 1-star Ladder life insurance review, someone said they were deeply offended that Ladder offered their husband more coverage than her. I can see how that might hurt, but life insurance companies have to be fact-based and non-sentimental when offering coverage. Otherwise, they’d go out of business!

Ladder Reviews Reddit

On Reddit, someone recently asked if there was any reason not to choose Ladder life insurance when it was the cheapest option available to them.

A user responded by saying there was no reason not to choose Ladder. They also pointed out that it’s not just the provider that matters, but also the “partner” companies that underwrite the insurance. 

And another user stepped in to say that the companies that Ladder partners with are reputable and highly rated.

Ladder Review BBB

Ladder is accredited by the Better Business Bureau (BBB) and gets an A+ grade. That means Ladder has established a record of transparency.

At the time of this article’s publication, the BBB shows that Ladder has received 0 consumer complaints – literally zero! 

So, this is a company that treats its customers right. 

Is Ladder Worth It?

Ladder is definitely worth it for anyone who wants flexible and affordable term life insurance. You can apply in a matter of minutes, and – unless you’re looking for more than $3 million in college – you won’t even need to do a medical check. That’s some serious convenience! 

And then there’s the chance to change your coverage over time. Let’s say you want lots of coverage now when your kids are young, but you’d like to lower your premiums as they get older. With Ladder, you can apply to do that!

Of course, there are some people who should pass on Ladder for life insurance. If you want permanent or whole life insurance, Ladder simply doesn’t offer what you’re looking for. And if you’re over 60 or want a policy that will last into your 70s, Ladder won’t give you coverage. 

But for people ages 20-60 who want term life insurance for the sake of protecting their loved ones, Ladder is a wonderful option. 

Commonly Asked Questions About Ladder

What are Alternatives to Ladder?

Alternatives to Ladder life insurance include:

• Ethos (read full Ethos life insurance review here)
• Haven Life (read full Haven Life insurance review here)
• Walnut (read full Walnut life insurance review here)
• Everyday Life (read full Everyday Life insurance review here)
• Fabric (read full Fabric life insurance review here)

Is Ladder a Scam?

Ladder is a reputable life insurance services provider, and it definitely isn’t a scam. Want proof? The company gets an A+ from the Better Business Bureau and has 4.8 stars on Trustpilot. It also works with reputable partner companies to underwrite policies. 

What is The Catch With Ladder? 

There is no “catch” with Ladder, but it is worth noting that the company only offers term life insurance. So, if you want permanent or whole-life coverage, you’ll have to find a different provider. Ethos is one option, and it also operates entirely online. 

Is Ladder Good for Term Life Insurance?

Ladder is a great choice for term life insurance. Not only does the application process often take less than 10 minutes, but you can also apply to adjust your coverage as your circumstances change. That’s a level of flexibility not all life insurance companies offer.

What Kind of Insurance is Ladder?

Ladder offers term life insurance, meaning coverage lasts only for a predetermined number of years. Terms available from Ladder run from 10 to 30 years, and anyone between the ages of 20 and 60 can apply. 

Who Issues Ladder Life Insurance? 

Ladder distributes term life insurance products issued by multiple highly rated insurers. For details, go to ladderlife.com. All insurance products are governed by the terms set forth in the applicable insurance policy.  Each insurer has financial responsibility for its own products.