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Ladder Insurance Review

May 1, 2020
Insurance, Life Insurance
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own.

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At a glance

  • Offers term life insurance nationwide.
  • Customers apply for and manage policies directly online.
  • Many applicants can qualify without taking a medical exam.

» MORE: Compare life insurance quotes

Shopping for life insurance during the pandemic? Be aware that insurers may have changed their products and policy applications. For the latest information on how to cope with financial stress during this emergency, see NerdWallet’s financial guide to COVID-19.

Ladder is an insurance startup offering term life insurance to people ages 20 to 60. The company launched in California in January 2017 and has since expanded to all other states. In 2018 it announced a partnership with personal finance company SoFi to provide quotes to its users.

Ladder life insurance

2.5 NerdWallet rating

Ladder earned 2.5 stars out of 5 for overall performance. NerdWallet’s ratings are determined by our editorial team. The scoring formula takes into account complaint data from the National Association of Insurance Commissioners and financial strength ratings from A.M. Best.

Ladder promotes a streamlined experience, with policies sold and managed online without the use of agents, and instant coverage decisions that allow customers to get insured minutes after applying.   

Ladder lets customers decrease their coverage amount when their needs change. (You can also apply for more coverage as needed.)

Ladder policies are issued in New York by Allianz Life Insurance Company of New York and Fidelity Security Life Insurance Co in all other states and D.C. Fidelity isn’t included in NerdWallet’s rankings of life insurance companies because customer satisfaction ratings are unavailable. J.D. Power does not include the insurer in its annual U.S. Life Insurance Study, which measures customer satisfaction.

» MORE: The best life insurance companies

Consumer complaints: Fewer than the median

Fidelity Security drew no complaints to state regulators in 2019 and Allianz drew fewer than the median number of complaints in New York compared to other companies with similar market share, according to the latest data from the National Association of Insurance Commissioners.

Ladder life insurance details

Products offeredTerm life insurance
Term options10, 15, 20, 25 or 30 years
Age availability20 to 60, as of nearest birthday when applying
Medical exam required?Varies by applicant
Can be rejected?Yes
Available inAll states

Methodology: Life insurance ratings

NerdWallet’s life insurance ratings are based on weighted averages of complaint index scores from the National Association of Insurance Commissioners for individual life insurance, and financial strength ratings from A.M. Best, which indicate a company’s ability to pay future claims. To calculate each insurer’s rating, we adjusted the NAIC and A.M. Best 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.

Methodology: Insurer complaints

NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2016-2018. To assess how insurers compare to 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. Ratios are determined separately for auto, home (including renters and condo) and life insurance.