You may be surprised by the variety of policies and insurers available if you’re thinking about purchasing life insurance. Here, we’ll examine Ladder Life Insurance to see if the review is a good fit for your family. Read on to learn more about the sorts of plans available from Ladder Life, what you’re likely to pay for coverage, and how you can get a quote.<\/p>
Ladder is a newbie to the life insurance industry. In 2017, it began selling plans in California, and since then it has spread across the country. Ladder, founded in 2014 and headquartered in Palo Alto, California, markets itself as a digital replacement for traditional term life insurance. The death benefit is flexible, which is unusual for term life insurance, and the company offers a risk-free 30-day trial period.<\/p>
The only type of insurance that Ladder sells is term life insurance; they do not provide permanent policies or any others. Ladder does not issue its own policies, unlike many of the other companies we examine. It sells insurance policies from a number of different companies, including Allianz Life Insurance Company of New York. AM Best has not assigned Ladder a rating for financial strength, although they have given Allianz Life Insurance Company of New York an A+ (Superior) rating.<\/p>
It offers 10- to 30-year term policies with death payouts up to $8 million for adults 20\u201360. All applicants must answer some health and lifestyle questions, but no medical exam is required for a $3 million or less policy. The company does not offer riders, policy upgrades, or auto or house insurance.<\/p>
Ladder permits policyholders to adjust (or “ladder”) their coverage up or down at any time, with no penalty for doing so and no restriction on how often you can adjust your benefits. However, a medical check may be necessary if you want to boost your death benefit to more than $3 million. Another feature unique to Ladder is their referral program, which will pay you $25 or $50 (depending on state regulations) for every person you recommend who applies for a policy, up to $1,000. Please be aware that citizens of the following states (Louisiana, Michigan, Mississippi, Montana, New Mexico, Washington, and West Virginia) are not eligible for this promotion.<\/p>