Ladder is a digital-first term life insurance company that lets you adjust your coverage as often as you want and at no extra charge. That can be a game-changer as you cross life milestones and your needs change.
We like that Ladder has affordable coverage for healthy younger adults and a streamlined online application that often lets you skip the medical exam.
Ladder only offers term life insurance, however, so it’s not for everyone. And it’s only available to people between 20 and 60 years old, so it’s not a good fit if you’re a senior.
Ladder Life Insurance
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Cost
The best way to estimate your costs is to request a quote
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Online quote for term policy
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Policy highlights
Digital-first life Ladder offers no-exam term life insurance with up to $3 million in coverage. Policyholders can adjust coverage and premiums for free as needs change.
Pros
- No-exam term life with coverage up to $3 million
- Online application process
- Can adjust premiums and coverage for free as needs change
Cons
- No riders
- No permanent life insurance
- Enrollment age limit is 60 years old
Ladder life insurance review
Ladder life insurance pros and cons
Pros
- Intuitive website
- No medical exam for policies under $3 million
- Coverage starts $5 per month
- Policies underwritten by highly rated insurance companies
Cons
- Only offers term life insurance
- Not available after age 60
- No riders for customization
Types of Ladder life insurance
Term life insurance
Ladder offers term life policies to adults ages 20 to 60 with terms of 10, 15, 20, 25 or 30 years and a death benefit of between $100,000 to $8 million. There is no medical exam If you are buying less than $3 million in coverage.
There are term and age restrictions: The length of your term plus your current age cannot exceed 70 years.
| Term | Maximum age |
|---|---|
| 30 years | 40 |
| 25 years | 45 |
| 20 years | 50 |
| 15 years | 55 |
| 10 years | 60 |
Ladder’s standout feature is the ability to increase or decrease your coverage as your needs change. You can adjust coverage as many times as you want for free, whether you’re getting married, having a child or just paid off the mortgage.
Since Ladder only sells term life, you can’t convert your plan into a permanent policy, a feature many other providers offer.
Ladder life insurance riders
Ladder customer service
It wasn’t ranked in J.D. Power’s 2024 U.S. Individual Life Insurance Study but it receives considerably fewer complaints than other life insurance providers, according to the National Association of Insurance Commissioners, and earned and A+ from the Better Business Bureau.
Ladder has an intuitive website and you can get rate quotes, apply and get approved for a term life policy completely online.
Customer service is only available by phone weekdays from 9 a.m. to noon PT, which can be frustrating if you need additional help. There’s no online chat feature, either, although you can email customer support.
Other types of Ladder insurance
Unlike many providers, Ladder doesn’t sell other types of insurance. While that means it’s laser-focused on life insurance, it also means there’s no bundling discount and you can’t keep all your policies with one company.
How does Ladder compare to other life insurance?
| Available policies | Term life coverage | Available terms | Age limit | Medical exam for term life | |
| Ladder | Term | $100,000 to $8 million | 10, 15, 20, 25 or 30 years | 60 | Not for policies under $3 million |
| Ethos | Term, guaranteed-issue whole life | $20,000 to $2 million | 10, 15, 20 or 30 years | 65 for term life, 85 for whole life | No |
| Nationwide | Term, whole, universal, final expense | $250,000 to $1.5 million | 10 or 20 years | 55 for Life Essential | No |
Ladder vs Ethos
Ladder also issues policies in all 50 states, while Ethos is not licensed in New York.
Ethos Life Insurance
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Cost
The best way to estimate your costs is to request a quote
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Online quote for term policy
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Policy highlights
Ethos offers term and permanent policies from top providers like Ameritas, TruStage, Mutual of Omaha, CMFG and Legal & General America. Will and estate planning tools included with most policies.
Pros
- No medical exam
- Guaranteed acceptance option
- Instant coverage
- 100% online application
Cons
- Limited customization
- Whole life policies only available to adults 66 to 85
- Not available in New York
Neither company is a standout for endorsements but, while Ladder doesn’t have any riders, Ethos does offer an accelerated death benefit.
While Ladder only issues term life, Ethos also offers guaranteed whole life policies for up to $30,000 that can pay for a funeral and other end-of-life expenses.
It’s also more friendly to seniors, with age limits of 65 for term life and 85 for whole life.
Ladder vs. Nationwide
Nationwide is one of the largest life insurance providers in the U.S., with a variety of term, whole life and universal life policies. The Nationwide Life Essentials plan is the closest to Ladder’s offerings, with low rates, online approval and no-medical-exam options.
Nationwide Life Insurance
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Cost
The best way to estimate your costs is to request a quote
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Online quote for term policy
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Policy highlights
Nationwide offers 13 term, whole and universal life policies, with no-exam term life plans offering coverage up to $1.5 million.
Pros
- Chronic, critical and terminal Illness riders included in most policies
- Long-term care insurance rider is available
Cons
- Not all policies available in all states
- Age limit for term life is 70 years old
Life Essentials caps out at $1.5 million and only has terms of 10 or 20 years, while Ladder has no-exam term policies for as much as $3 million available in terms of 10, 15, 20, 25 and 30 years. And while Life Essentials is only available to applicants 55 and younger, Ladder has slightly more wiggle room with a age limit of 60.
In either case, though, you’re sacrificing customization for simplicity and affordability: Neither Ladder nor Nationwide Life Essentials offer any riders.
Ladder markets itself as allowing policyholders to adjust coverage up or down as many times as they like with no fee or exam. Changing your coverage on a Nationwide Life Essentials policy may be more involved.
How do I buy life insurance from Ladder?
You can buy life insurance from Ladder online, getting rate quotes, filling out the application and receiving approval all through its easy-to-use digital platform. (Policies under $3 million don’t require a medical exam).
You can work with a Ladder agent over the phone at 844-533-7206, but customer service is only available Mondays to Fridays from 9 a.m. to 12 p.m. PT.
Is Ladder Life Insurance right for me?
It’s also a winner for convenience, with a digital application and no medical exam for policies up to $3 million.
If you think you might want to convert to a permanent life insurance policy eventually, want options for customization or prefer to work with agents over the phone or in person, you might want to keep shopping for the right provider.
FAQs
Who underwrites Ladder’s life insurance policies?
Ladder is underwritten by Amica, Allianz Fidelity Security and S.USA Life Insurance Company.
Does Ladder require a medical exam?
Ladder doesn’t require a medical exam for policies up to $3 million. Ladder’s maximum coverage limit is $8 million, however, and policies with higher limits may require an exam.
What is the age limit for a Ladder life insurance policy?
Term life insurance is available from Ladder to applicants between the ages of 20 and 60.
Does Ladder sell whole life insurance?
Ladder only issues term life policies. That means there’s no option to convert to a permanent life insurance policy later
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At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every insurance review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of insurance products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.
Our methodology
When reviewing life insurance companies, CNBC Select uses a variety of criteria, including the types of policies, availability, rates and terms, the number of riders, medical exam requirements, the availability of online quotes and overall customer satisfaction.Â
In addition, we also considered J.D. Power’s life insurance customer satisfaction ratings, financial strength ratings from A.M. Best, Better Business Bureau scores and scoring on the National Association of Insurance Commissioners’ complaint index.
Life insurance rates may come from various sources, including the provider and state insurance departments.
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Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
