REVIEW & COMPARE Ladder LIFE INSURANCE | Pros & Cons | FAQs

​Ladderlife.com —an insurtech startup, founded in 2015— offers policies issued by Fidelity Security Life Insurance Company.  Fidelity Security Life Insurance Company has an Excellent (A-) rating for financial strength from A.M. Best.  

***Ladder only sells policies issued by one company***

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WHAT DOES LadderLife.com OFFER?

• Competitive level 10, 15, 20, 25, and 30 year term life insurance policies from $100,000 to $8,000,000 for people ages 20-60 years old.
• Ladder offers significantly more life insurance coverage than you can buy without a medical exam compared to other companies.  Some applicants will receive an immediate decision.  Some applicants may need to take a medical exam before receiving an approval.
• Ability to increase or decrease coverage online as your financial needs change .  "Ladder up" means the policy holder can increase their policy’s face value or extend the length of the term.   The added coverage is priced separately, so the policy holder will receive a different cost for the higher amount of coverage and/or longer term.  "Ladder down" means the policy holder can reduce their policy’s face value if they need less life insurance.  Premiums will decrease proportionately to the reduction in the policy’s face value.

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PROs & CONs of LadderLife.com

PROS

• High-value term life insurance policies
• An easy to use online life insurance application and management system.
• Fast underwriting decisions.  LadderLife’s application takes around 20 minutes to complete.  Once complete, the applicant will either receive an approval, a rejection, or a request for a medical exam.
• Ability to increase or decrease coverage online as your financial needs change.

CONS

• Only represents one life insurance company. The policies are issued by Fidelity Security Life, but Ladder controls the underwriting and risk analysis.
• Not eligible if older than age 60.
• Only term life insurance policies.  No permanent life insurance
• No riders or supplementary coverage
• Most communication with the company happens online.  They do have a live chat option (with actual people) as well as a phone number posted to call in. That said, the applicant could go through without having to communicate with anyone, but Ladders team is available to help or answer questions if anything comes up. They're salaried, not commissioned, so their role is help, not sell. 

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Frequently Asked Questions about LadderLife.com

1. Are Ladder’s rates competitive.
   YES.  Ladder’s term life insurance rates aren’t the lowest available, but they are consistently better than average when compared to those of the top insurers.  In addition, Ladder’s applicants may qualify for more coverage without a medical exam and pay significantly lower premiums verses a typical no exam policy. 
   
   
2. Does Ladder have good customer service?
   IT APPEARS SO, YES.  Ladder's website portal appears to be very efficient in handling the life insurance application / underwriting process.  While an applicant could go through without having to communicate with anyone, there is a team available (a live chat option, as well as a phone number posted to call in) to help answer questions, if anything comes up.  They're salaried —not commissioned— so their role is help, not sell. 
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3. Are there any customer complaints about Ladder?
   YES & NO.  Check the reviews on Trustpilot.
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4. Is Ladder’s direct-to-consumer online platform a good, safe, and reliable place to buy life insurance?
   YES...  But, in fairness —as with all insurtech startups— it may be 'too soon to tell'.  Based on the "backing" (i.e. the reputation of Fidelity Security Life Insurance Company), we can only assume Ladder's platform is safe and that their offerings are reliable.

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more Frequently Asked Questions

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—Related Reading--

LADDER LIFE INSURANCE IN THE NEWS

Ladder Launches Ladder For Advisors To Further Streamline Consumer Access To Life Insurance
Financial Advisors Get Access to a Customized Toolkit and Detailed Dashboard Making It Easy to Further Engage Their Clients

https://www.prnewswire.com/news-releases/ladder-launches-ladder-for-advisors-to-further-streamline-consumer-access-to-life-insurance-300785795.html

Ladder To Unveil Latest Innovations At InsureTech Connect
CEO Jamie Hale Speaking at the World's Largest Gathering of Insurance Leaders and Innovators

https://www.prnewswire.com/news-releases/ladder-to-unveil-latest-innovations-at-insuretech-connect-300709454.html

Ladder And SoFi Partner To Power A New Approach To Life Insurance
The Financial Industry's New Guard Joining Forces To Drive True Innovation

https://www.prnewswire.com/news-releases/ladder-and-sofi-partner-to-power-a-new-approach-to-life-insurance-300681915.html

Ladder is Partnering to Power a New Approach to Life Insurance
Ladder and SoFi are teaming up to fundamentally change how people access and manage life insurance over time

https://medium.com/ladderlife/ladder-is-partnering-to-power-a-new-approach-to-life-insurance-85195cca6a59

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$1 MILLION
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$500,000
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$250,000
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$100,000
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