Who Is Ladder Best Suited for?
Ladder is a good option for people ages 20 to 60 looking for affordable term life insurance. It is also an excellent choice for those who might want to change their coverage over time and potentially pay less on monthly premiums over time. Ladder offers flexibility, making it suitable for anyone who wants to periodically calibrate their insurance to their needs.
Ladder offers digital term life insurance, and you can apply online in as little as 5 minutes and receive an instant decision. At the moment, Ladder offers term life insurance with term lengths of 10, 15, 20, 25, or 30 years. You should also take into account that the maximum age limit for a Ladder policy is 60, which is a bit lower than what many other life insurance companies offer.
Ladder Features
Ladder stands out from other companies in the competitive insurance industry thanks to its flexible coverage. Through a process called ‘laddering,’ Ladder allows you to adjust your premiums on the go. The purpose is to help you save money. If your exigencies change and no longer require that much coverage, Ladder is flexible. You can lower your death benefit, thus lowering your monthly premiums. Conversely, if your needs grow, you can apply to increase your coverage.
Ladder offers term coverage in all 50 states.
Ladder Highlights
According to its website, Ladder’s fast application process can be completed in only 5 minutes from start to finish. This company puts the customer in control of their coverage. You can adjust your policy as your needs change. For example, once your kids grow up, you may not need as much coverage as before, and you can “ladder” your coverage down resulting in lower premiums. You can find all you need to know about it on the Ladder website. In the long-term, it can help you save substantial amounts on your monthly premiums. Another highlight is that you get a 61-day grace period if you cannot meet a payment deadline. Plus, There are no policy, cancellation, or processing fees, and you can cancel at any time.
How It Works – Application Process
The application process for Ladder is simple and only takes several minutes. It consists of three steps. First, you have to provide a few personal details so that the company’s software can analyze your needs based on your profile. You will then have the option to choose the amount of coverage you want and the insurance term length. Just like any other life insurance application process, this one also involves answering several questions about your finances, health, and lifestyle.
For coverage up to $3 million, the process doesn’t involve medical exams, you’ll just need to answer a few health questions as a part of the online application.
After applying, you won’t have to wait for hours or days; you’ll receive an instant decision.
After the platform analyzes your application, if you are approved, you will see a straightforward overview of the policy that’s best suited for you. This overview includes:
· The amount of coverage
· The insurance’s term
· The daily price you will pay for the insurance
If you get approved, all you have to activate your policy is make your first payment.
To be eligible for a Ladder policy, you have to be a US citizen, or you need to have received your US citizenship within the past two years.
Types of Policies and Terms
This company offers term life insurance. The minimum coverage you can get is $100,000. The maximum coverage can be as much as $8,000,000. The term lengths available are 10, 15, 20, 25, or 30 years. The policy can be renewed for one to five years. This can be a good decision as it will freeze your policy premiums during the renewal period.
What is Ladder’s Reputation?
Ladder has a 4.8/5 TrustScore of over 2,290 reviews on Trustpilot as of October 2022. Overall, Ladder provides a great value and a seamless experience for their customers.
Help and Support
Ladder offers reliable customer support via multiple channels. On the website, you will see the live chat window popping from the right-hand bottom corner. There is also a comprehensive help center where you can find details on various topics. You can also send a message.
The phone number to reach Ladder’s customer support is 844-533-7206. Each customer support person is a licensed life insurance agent.
Ladder at a Glance
Ladder is one of the fastest online life insurance services providers. While there are some companies that offer same-day approval, with Ladder, your application gets an instant decision. This term-life insurance agency offers a unique tool to help you adjust your premiums as your needs change. They provide generous coverage for people aged 20-60.
Physical Address
P.O. Box 456
Menlo Park
CA 94026
Disclaimer
This website contains information about various life insurance companies. It is designed to provide help and guidance. Different details included in our reviews, such as prices or insurance terms, may change over time. The information provided on this website does not constitute legal or professional advice, and our readers should not treat it as such.
Why We Chose Ladder
We chose Ladder because it is one of the fastest-growing online insurance agencies despite being relatively young. Ladder simplifies the life insurance application process with a form that only takes five minutes to complete. This company allows you to adjust your insurance to save money over time.
*While medical exams may not be required, certain health information is required as part of the application to determine eligibility for coverage.
Ladder Insurance Services, LLC (CA license # OK22568; AR license # 3000140372) distributes term life insurance products issued by multiple insurers – for further details see 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.