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Ladder Life Insurance

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Ladder Life Insurance

Updated: May. 31, 2018

Ranked 4th of 10 life insurance with a Quid Score of 81.

Buy Now Leave a Review

Ladder Life Insurance

Ranked 4th of 10 life insurance with a Quid Score of 81.

Product Details

Product Details

Ranks 4th overall.

Other Information
  • Online Quote: Yes
  • Other Features: Policyholders can increase or decrease a policy's face value through the online My Account page
  • Smoking Policy: N/A
  • Customer Service System: Mostly online, but agents are available by phone/email.
  • Medical Exam Requirement: Depends on individual; if so, a travelling technician comes directly to customer
  • Other Financial Services: No
  • Online Portal/Smartphone App: Online portal
  • Other Life Insurance Policies: No
  • Age Requirement at Time of Application: 20-60
Policy Information
  • Term Options: Yes - 10, 15, 20, 25, or 30 years
  • Annual Premium: MALE: $165.96 - $283.56, FEMALE: $147.48 - $239.76 (based on monthly quote)
  • Face Value Policy: $100,000 - $8,000,000
  • Payment Frequency: Monthly
  • Fixed or Fluctuating Premium: Fixed
  • Riders/Supplementary Coverage: No
Key Product Information
  • Online Quote: Yes
  • Term Options: Yes - 10, 15, 20, 25, or 30 years
  • Annual Premium: MALE: $165.96 - $283.56, FEMALE: $147.48 - $239.76 (based on monthly quote)
  • Face Value Policy: $100,000 - $8,000,000
  • Fixed or Fluctuating Premium: Fixed

Expert Rating: 79%

Ranks 7th among competitors.

Expert Rating: 79%

Ranks 7th among competitors.

Experts like the convenience that Ladder Life offers through its simple online signup process and the ability to edit coverage through the online portal. The company offers some of the best values for plans that exceed $1 million in coverage. Plans don’t offer riders or supplementary coverage options. While the online process is streamlined, it can be difficult to contact an agent for support. Ladder Life is only available in select states.

Full Expert Breakdown
  • Premium Rates - Average
  • Agent Responsiveness - Below Average
  • 24-Hour Telephone Support - N/A
  • Standout Incentive - Online process
  • Financial Strength - Above average
  • Policy Options - Average
Notable Positives
  • Can edit plan coverage online
  • Fast application decision
  • Medical exam usually not necessary
  • Backed by Fidelity
  • Great value for plans with coverage over $1 million
Notable Negatives
  • Age limit is 60
  • No riders or supplementary coverage
  • Only available in select states
  • Live agents can be difficult to contact through customer service
Full Expert Breakdown
  • Premium Rates - Average
  • Agent Responsiveness - Below Average
  • 24-Hour Telephone Support - N/A
  • Standout Incentive - Online process
  • Financial Strength - Above average
  • Policy Options - Average

Customer Rating: 82%

Ranks 2nd among competitors.

Customer Rating: 82%

Ranks 2nd among competitors.

Customers like the simple, efficient online signup and approval process. The ability to adjust coverage online through an account is also very easy. There can be a disconnect between Ladder Life and the technicians the company uses for medical exams, which makes coordinating appointments difficult. Some customers note that its website lacks detailed information on plans.

Ideal for people:

Those with no prior medical history who want a fast online sign-up process without pressure from brokers and need coverage amounts over $1 million.

Not ideal for people:

Those with a medical history of illness may find it more difficult to get approved for a policy. Those who prefer a broker to walk them through policies my not like this primarily online experience.

Notable Pros:
  • Efficient
  • Simple signup process
  • No pressure from brokers
  • Can adjust coverage online
Notable Cons:
  • Can be out of touch with technicians sent to homes
  • Company can send too many emails/texts
  • Website doesn’t provide enough information
  • More difficult for those with a medical record to be approved
Sources:
Sources:

Brand Score: 54%

Ranks 10th among competitors.

Brand Score: 54%

Ranks 10th among competitors.

Ladder Life offers instant, fully underwritten online life insurance products that adapt to the evolving coverage needs and finances of policy holders. As of mid-2018, it operates in California and Texas, with plans to go nationwide by the end of the year.

Heritage - 2/5

Ladder Life was founded in 2015 in Menlo Park, CA. The company’s policies are backed by Fidelity Security Life Insurance Company and Hannover Life Reassurance Company of America. The startup has 4 major investors: Cannan Partners, Lightspeed, NYCA, and 8 Partners.

Innovation - 4/5

The company says that potential customers can complete the streamlined application process in 5 minutes. The website offers a blog and is fully mobile-enabled. Ladder Life is integrated with the Alexa and Google Assistant platforms, so users can ask “talk to Ladder Life” and get their life insurance questions answered.

Reliability - 2/5

Customers can access policy support over the phone, by submitting an online form, or by viewing the website FAQs.

Social Good - 3/5

In 2018, Ladder partnered with the Sheryl Sandberg & Dave Goldberg Family Foundation/Lean In to support American women pursuing financial equality and security.

Relevance - 2/5

As of mid-2018, Ladder Life has a relatively small following on social media. On Facebook, Instagram and Twitter, it updates followers with new business developments, recent awards it's received, and philanthropic engagements.

Retail: Best Price $261.66

Ranks 7th in value among competitors.

Retail: Best Price $261.66

Ranks 7th in value among competitors.

Customers who apply for an insurance quote online are required to fill out personal information and important health details. Those who wish to purchase a plan are asked more questions before receiving a real rate and an approval decision.

Best Purchase Options
Ladder Life - $261.66
Best Purchase Option
Ladder Life - $261.66

Ranked by Quiddity

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