Ladder is revolutionizing the life insurance industry with its online and efficient approval process for term life insurance. The name “Ladder,” refers to its flexible insurance policy that allows policyholders to easily increase or decrease their coverage level to adapt to their needs. With Ladder, customers who qualify can get covered within minutes, unlike traditional insurance providers that require an in-person consultation.

Ladder works with multiple underwriters for their life insurance policies offered in different US states. US residents aged 20 to 60 years old can apply for coverage through the website and receive a decision asap. Ladder’s policies are designed with flexibility in mind, allowing users to easily increase or decrease their coverage amount online, with just a few clicks.

However, the lack of customization options may not be suitable for those seeking more tailored coverage. Additionally, individuals in good health who are willing to undergo a medical screening may find better pricing for term coverage elsewhere.

Ladder’s primary product offering is term life insurance, which is highly customizable to suit individual needs. If the policyholder passes away during the term, benefits will be paid out to beneficiaries in a lump sum, with some exceptions such as suicide.

Ladder offers a range of term lengths, including 10, 15, 20, 25, or 30 years, and coverage can extend up to age 70. Ladder policies with coverage up to $3 million do not require a medical exam. If the policyholder passes away within the term, their beneficiaries will get the death benefit. It’s important to note that there is no payout if the policy ends and the policyholder passes away. Furthermore, unlike permanent policies, term life policies do not have a cash value component which also contributes to their affordability.

Insurance riders are additional features that enable policyholders to tailor their coverage to their specific needs. Commonly offered by life insurance companies, riders can provide coverage for children, offer accelerated death benefits in certain scenarios, or waive premiums in the event of disability. However, if you’re looking to personalize your coverage with riders, Ladder may not be the best option for you. While Ladder offers an adjustable term policy, the company does not offer any riders.

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To initiate the application process for Ladder’s term life insurance, simply indicate your desired coverage amount and term length. Next, you’ll need to answer a few questions about your health, financial status, and activities. After reviewing your answers, you can hit “Submit” to complete your application.

Ladder Life has a straightforward three-step process for filing claims. The first step is to notify them by sending an email to claimhelp@ladderlife.com to initiate the claims process. The second step involves providing details about the policy and the policyholder, which may require completing various forms. The third and final step is to wait for the claim to be processed, at which point a representative from Ladder Life will reach out to you with further information.

Ladder provides multiple customer support options. Their live chat feature is available during business hours, while phone support is accessible on weekdays from 8 a.m. to 5 p.m. PT by calling 1-844-533-7206. Alternatively, customers can email Ladder’s customer support team at help@ladderlife.com anytime.

No policy Fees, Cancel Anytime

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While Ladder Life may fit some customers, it offers limited options for insurance products. The company only provides term life policies without any additional rider options. Nevertheless, the companies that underwrite Ladder Life policies have excellent ratings. Ladder also offers the convenience of a digital platform to its policyholders. If you’re looking for a term life policy and prioritize digital policy management, Ladder Life may be an ideal choice.