Ladder Life Insurance Review

Good

Easy online application process. Instant decision on coverage
Change coverage (and payment) as often as you need
Coverage ranges from $100,000 to $8 million
Coverage up to $3 million - 100% online. No medical exam or in-home lab kits required
No policy fees and the ability to cancel coverage anytime
No hassle customer service as they're non-commissioned licensed agents
Monthly payments on existing coverage guaranteed never to increase
Example: Pricing starts at $4.95/month for $100K in coverage for a 10 year term for a 20 year old female in good health with a preferred plus rating

Bad

Ladder offers simple, straightforward, and affordable term life insurance to customers. Ladder offers guaranteed level term life insurance coverage ranging from $100,000 to $8 million for 10, 15, 20, 25 and 30 year terms, during which, monthly payments are guaranteed never to increase for the customer. Applications are conducted purely online and optimized for any device – anywhere, anytime. What’s unique is the ability for users to change (or ladder) their policy coverage. Policyholders can apply to increase or automatically decrease their coverage in a matter of clicks. A reduction in the coverage amount results in a proportional decrease in their monthly premiums. This is useful when for example you pay off your mortgage and need less coverage. Or you have a second child and need more coverage. This ability to dynamically change the monthly premiums (by decreasing your coverage) you pay enables you to save money over the lifetime of the policy while still having the protection you need for that period in your life. Pay for what you need only.

Ladder is for people who want life insurance that offers great value for money, simplicity and a streamlined process. Gone are commissioned agents, poorly performing cash values, policy fees, surrender charges, confusing riders, paperwork, office hours, complexity and hassle. Ladder offers life insurance coverage to U.S. citizens or lawful permanent residents who have lived in the U.S. for more than 2 years. Applicants must be between the ages of 20 and 60 as of their nearest birthday. Coverage is non-convertible, individual guaranteed level term life insurance, renewable for 5 years after the guaranteed level term, up to age 75.

About the company

Ladder is a fast growing company simplifying the life insurance market…with billions already in coverage. Ladder has partnered with Allianz Life Insurance Company of North America to issue policies in all states except New York. In New York, Ladder has partnered with Allianz Life Insurance Company of New York.
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