Ladder
Bottom line: This company issues instant life insurance policies nationwide, but if you need permanent coverage you’ll need to look elsewhere.- Quick online application.
- Most applicants won't need a medical exam.
- Coverage limits up to $8 million.
- No riders available, though this is common among insurtechs.
Why trust NerdWallet
1,413 life insurance rates sets collected.
441 life insurers analyzed by our team of experts.
185 policies assessed.
Dive deeper: Ratings methodology for life insurance.
NerdWallet's life insurance content, including ratings and recommendations, is overseen by a team of writers and editors who specialize in life insurance. We follow strict editorial guidelines to ensure the content on our site is accurate and fair so you can make financial decisions with confidence and choose the products that work best for you.
About Ladder life insurance
Ladder earned 4.5 stars out of 5 for overall performance. Founded in 2015, Ladder sells term life insurance online, with a fully digital application process. The company operates in all states, and offers a generous amount of coverage without a medical exam. However, it draws a high volume of consumer complaints and doesn’t offer permanent life insurance options.
Depending on where you live and other factors, Ladder’s policies may be issued by Ladder Life Insurance Company or one of its partners: Allianz Life Insurance Company, Amica Life Insurance Company, Prudential, TruStage, S.USA Life Insurance Company or Fidelity Security Life Insurance Company. Ladder's star rating reflects complaints and financial strength data for all of these issuers but considers the consumer experience on Ladder's site only, since that’s where the company's potential customers get quotes.
Pros
- Quick online application.
- Most applicants won’t need a medical exam.
- Coverage limits up to $8 million.
Cons
- No riders available, though this is common among insurtechs.
» MORE: Compare life insurance quotes
Ladder life insurance policies
Term life insurance. People ages 20 to 60 can apply for Ladder’s term life insurance online, with most policies issued within minutes. You can buy $100,000 to $3 million in coverage without a life insurance medical exam — you'll just need to answer a series of health questions — or up to $8 million with an exam. The instant life insurance policy is offered in term lengths of 10, 15, 20, 25 and 30 years.
Ladder stands out for its flexibility. You can adjust your coverage amount at any time, and the insurer will adjust your premium to match. For example, if you decrease your coverage from $1 million to $750,000, your next premium will be 25% cheaper.
» MORE: Average life insurance rates
Ladder customer complaints and satisfaction
Over three years, Ladder's policy issuers combined have drawn fewer than the expected number of complaints to state regulators for companies of their size, according to a NerdWallet analysis of data from the National Association of Insurance Commissioners.
» MORE: Best life insurance companies
How Ladder compares to other insurers
Ladder | Lemonade | Ethos | |
|---|---|---|---|
Star rating | |||
Financial strength | Exceptional. | Exceptional. | Strong. |
NAIC complaints | Fewer than expected. | Fewer than expected. | Fewer than expected. |
Policy types offered | Term & no-exam. | Term & no-exam. | Term, permanent & no-exam. |
Read full reviews |
What Reddit users say about Ladder
Reddit is an online forum where users share their thoughts in “threads” on various topics. The popular site includes plenty of discussion on financial subjects like life insurance, so we sifted through Reddit forums to get a pulse check on how users feel about insurers. People post anonymously, so we cannot confirm their individual experiences or circumstances.
Comments on Reddit about Ladder life insurance are mixed. Several people note how affordable the premiums are and how easy the application process is. Others point out that Ladder’s policies are underwritten by other companies, so you should check their financial strength ratings before committing. Negative experiences shared on Reddit include people being denied by Ladder or having their final approved rate end up higher than the initial quote.
Questions from Reddit: Our experts answer
Why did Ladder deny my life insurance application?
Life insurance companies like Ladder might deny your application for a variety of reasons, including criminal convictions, certain medical conditions, drug or alcohol abuse, or a high-risk occupation. If you’re denied by one company, shop around to see if others might approve your application. A life insurance broker or agent can help.
Why is my Ladder life insurance quote so cheap (or expensive)?
Setting your premium is part of the life insurance underwriting process, and each carrier does it a little differently. Some companies might charge more than others if you’re a tobacco user, for instance, or you have a pre-existing medical condition. That’s why it’s important to get several life insurance quotes to make sure you’ve found the best price for your particular circumstances.
What it’s like to apply for a policy with Ladder
You can access Ladder’s application process directly from the homepage. You’ll go through a series of short screens asking for your contact info as well as basic details like your sex at birth, height, weight and frequency of nicotine use.
Screenshot captured by our editorial team on January 28, 2025.
After about 10 screens of questions, we were prompted to enter our Social Security Number to get a quote. Previously, Ladder’s system offered a price estimate for a recommended term and coverage amount, which we could customize. We were even given the option to learn more about whole life insurance, which is available from a partner company. These features are no longer available as of late January 2025.
Screenshot captured by our editorial team on January 28, 2025.
How Ladder’s customer experience stacks up
Ladder’s site is sleek and mobile-friendly, and the online quotes system offers a quick cost estimate. (For a final quote, you’ll need to provide more in-depth information.) The site also features helpful guides and a calculator to figure out how much life insurance you need. The searchable FAQ section has details on Ladder’s policies, such as which riders are available (none) and which term lengths you might be eligible for.
Although Ladder encourages people to apply online, representatives are available. You can click on the “contact us” link in the site’s footer. On that page you’ll find a phone number, email and contact form. Note, however, that customer service is available for just three hours per day, Monday through Friday.
We called Ladder’s customer service line and were connected to a friendly representative within a minute. She was able to tell us the maximum amount of term life insurance available — $8 million with a medical exam, or up to $3 million without. When we asked about an accelerated death benefit rider, she accurately said that Ladder doesn’t offer any riders for its policies.
More about Ladder
Ladder has a partnership with personal finance company SoFi and legal document platform NetLaw, which allows SoFi members to create wills for free.
How to contact Ladder Life
Ladder Life can be reached by:
Phone: Call 844-533-7206 on weekdays from 9 a.m. to 12 p.m. PT.
Email: Send a message to help@ladderlife.com or fill out the form on Ladder's contact page.
Live chat: Not available.
- How we review life insurance companies
In our life insurance reviews, our editorial team considers the customer and the insurer. These are some of the factors we take into account:
Policies offered. There are many types of life insurance on the market, and they fall into three key categories:
Term life insurance offers temporary coverage and a guaranteed payout if the policyholder dies during the term.
Permanent life insurance typically lasts a lifetime and builds cash value that can be borrowed against in the future.
No-exam life insurance issues coverage without the need for a medical exam.
Financial strength. We use AM Best ratings to confirm an insurer’s long-term financial stability and ability to pay claims. For life insurance, NerdWallet typically recommends considering insurers with ratings of A- or higher. Here’s the breakdown:
Exceptional: A+, A++.
Strong: A-, A.
Moderate: B, B+.
Complaints. These ratings are based on complaints to state regulators relative to a company’s size, according to three years’ worth of data from the National Association of Insurance Commissioners. The best life insurance companies have fewer than the expected number of complaints.
Buy online. This indicates whether an insurer allows you to apply for and buy a policy completely online.
Dive deeper: Ratings methodology for life insurance
Life insurance buying guide
Before you start comparing companies, choose the type of life insurance you want, such as term or whole life. Decide which life insurance riders, if any, you want the policy to include. Calculate how much life insurance you need and how long you want the coverage to last. Check that the insurers you’re considering offer the coverage you’re looking for.
When comparing rates, be sure the quotes are for the same amount of coverage over the same period of time. It’s also important to make sure the policy’s medical requirements match your needs. For example, if you want to skip the life insurance medical exam but don’t mind answering health questions, confirm that the application process for each policy you're comparing aligns with that.
Price may not be the biggest driver behind your decision to buy. Look at the number of consumer complaints each company receives, as high numbers can be a red flag about the quality of service.
For more guidance, see our life insurance buying guide.
Life insurance ratings methodology
NerdWallet’s life insurance ratings are based on consumer experience, complaint index scores from the National Association of Insurance Commissioners for individual life insurance, and weighted averages of financial strength ratings, which indicate a company’s ability to pay future claims. Within the consumer experience category, we consider ease of communication and website transparency, which looks at the depth of policy details available online. To calculate each insurer’s rating, we adjusted the scores to a curved 5-point scale.
These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best rate for you. NerdWallet does not receive compensation for any reviews. Read our editorial guidelines.
Insurer complaints methodology
NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2021-2023. To assess how insurers compare with one another, the NAIC calculates a complaint index each year for each subsidiary, measuring its share of total complaints relative to its size, or share of total premiums in the industry. To evaluate a company’s complaint history, NerdWallet calculated a similar index for each insurer, weighted by market shares of each subsidiary, over the three-year period. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC. Ratios are determined separately for auto, home (including renters and condo) and life insurance.
