Important: Ladder is no longer accepting new applications
Ladder Life was acquired by Allstate in 2024 and no longer offers new policies under the Ladder brand. Existing policyholders continue to be served under Allstate ownership. For new applications with similar features (instant decision, no medical exam, fully digital), consider Ethos Life or Banner Life OPTerm Direct.
Quick answer
Ladder Life was acquired by Allstate in 2024 and no longer offers new policies under the Ladder brand. Ladder was a digital life insurance brokerage founded in 2017 known for its flexible "laddering" feature that let policyholders adjust coverage up or down over time. Existing Ladder policies remain in force. New applicants seeking similar instant-issue term coverage should look at Ethos Life or Banner Life OPTerm Direct.
Ladder is an insurance services provider offering term life insurance products for people ages 20 to 60 years old and are permanent residents of the U.S. for at least two years. Founded in 2015, the company has its headquarters in California but has operations to cover all 50 U.S. states and Washington D.C.
In 2020, Ladder partnered with SoFi, a personal finance firm, and NetLaw, a legal document platform, to enable SoFi members to create wills free of charge. In October 2021, the company announced that it successfully raised $100 million in equity funding through a Series D funding round, effectively valuing Ladder at $900 million.
Many of the Ladder life insurance reviews online are positive, with policyholders saying that they like the straightforward and easy-to-use online platform. Those who left negative Ladder life insurance reviews did not like that they cannot add riders to their policies. Pricing starts at $5 per month.
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Coverage Options
Ladder offers life insurance products online, and those interested may apply for coverage without needing to go through agents. Applicants are able to get instant coverage decisions within minutes after they apply. Policies are issued by multiple insurers.
Policy term lengths available through Ladder are 10, 15, 20, 25, and 30 years, depending on the applicant’s age. Applications for coverage up to $3 million can be accomplished online without having to take a medical exam ((just health questions are asked as part of the online application), and policyholders may opt to adjust their coverage amounts online later on as their needs change.
Pros and Cons of Ladder
Here are the pros and cons of having an insurance policy through Ladder to help you decide whether or not to apply.
Pros
- Quick and easy online application process
- High coverage limit with no medical exam (up to $3 million)
- Adjust coverage online anytime and as often as you wish,
as your needs change - Option to extend coverage after the initial term expires
- Option to renew your policy every year for up to 5 years
- Has a free mobile app for convenience
Cons
- Available only to people ages 20 to 60 years
- Cannot choose a term that provides coverage beyond 70 years old
- Offers term life insurance policies only; no riders to customize coverage
Ladder Reviews & Ratings
Is Ladder life insurance good? We found a mix of positive and negative reviews about its products from various online sources. Let’s take a look at what most people say below.
Positive Ladder Reviews
Those who gave positive Ladder life insurance reviews liked that they can easily adjust their coverage online as needed, while others said that not needing to undergo medical exams for coverage of up to $3 million is convenient. They also appreciate that policies may be canceled at any time without paying cancellation charges.
Negative Ladder Reviews
Those who gave negative Ladder life insurance reviews wished that the company offered riders to their policies, while others hoped that it extended coverage to beyond 70 years old.
Frequently Asked Questions
Is Ladder Life still in business?
No. Ladder Life was acquired by Allstate in 2024 and no longer offers new policies under the Ladder brand. Existing Ladder policies remain in force and continue to be administered, now under Allstate ownership. If you are looking to apply for new digital instant-issue term coverage, you need to choose a different carrier.
What happened to Ladder Life?
Allstate acquired Ladder Life in 2024 as part of Allstate's broader strategy to expand its life insurance and digital direct-to-consumer offerings. After the acquisition, Allstate retired the Ladder brand for new applications. The technology platform and underwriting expertise that Ladder developed are being integrated into Allstate's broader life insurance operations rather than continuing as a separately-branded subsidiary.
What was special about Ladder Life?
Ladder's flagship feature was "laddering" - the ability to adjust your term life insurance coverage up or down over time without re-underwriting. This was unique in the U.S. market. As your financial obligations changed (mortgage paid off, kids became independent), you could ladder down coverage to reduce premium; as obligations grew, you could ladder up subject to underwriting. The flexibility was particularly attractive to younger applicants with evolving needs.
What happened to existing Ladder policies?
Existing Ladder Life policies remain in full force after the Allstate acquisition. Policyholders should expect a transition of customer service and policy administration to Allstate over the months following the acquisition. The death benefit, premium, policy terms, and laddering feature on existing policies are unchanged. If you have an existing Ladder policy, no action is required - your coverage continues.
How do I file a claim on a Ladder Life policy?
After the Allstate acquisition, claims processing for Ladder policies transitioned to Allstate or its life insurance subsidiary. Beneficiaries should contact Allstate at 1-800-255-7828 or visit Allstate.com/claims to begin the process, or refer to the customer service number on your policy documents. Required documentation includes the certified death certificate, the policy number, and the beneficiary's ID. Claims are typically paid within 14 to 30 days.
What is the best alternative to Ladder Life?
The closest alternatives to Ladder Life's digital-first model are: (1) Ethos Life - underwritten by Legal & General America, instant decisions up to $2,000,000 for ages 20-65, (2) Banner Life OPTerm Direct - $1,000,000 no-exam coverage with rapid digital underwriting, (3) Fabric by Gerber Life - integrated digital application with instant decisions and wills/savings tools. None of these offer the laddering feature, but all provide fast digital-first term life coverage.
Can I still get a quote from Ladder Life?
No. Ladder Life no longer offers new applications under the Ladder brand after the 2024 Allstate acquisition. If you visit Ladder.com, you may be redirected to information about the acquisition or to Allstate's life insurance products. For a new digital-first term policy, request a quote from Ethos Life or our broader instant-issue carriers.
Who underwrote Ladder Life policies?
Ladder Life policies were underwritten by Allianz Life Insurance Company of North America (an A+ rated subsidiary of Allianz SE) and Fidelity Security Life Insurance Company before the Allstate acquisition. The financial backing of these A+ rated underwriters means existing Ladder policies remain fully secure. Post-acquisition, new policies (if Allstate eventually relaunches under a different brand) would likely be underwritten by Allstate Life Insurance Company.
Did Ladder offer no-medical-exam life insurance?
Yes. When active, Ladder Life offered no-medical-exam term life with instant underwriting decisions for most healthy applicants ages 20-60. Coverage limits ranged from $100,000 to $3,000,000 depending on underwriting class and age. The accelerated underwriting used prescription history, MIB records, and motor vehicle records combined with health questionnaire responses.
What is the difference between Ladder and Ethos?
Both Ladder Life (before its 2024 acquisition) and Ethos Life are/were digital life insurance brokerages offering fully online applications with instant underwriting decisions. The key differences: (1) Ladder was unique in its "laddering" feature allowing coverage adjustment without re-underwriting; Ethos does not offer this. (2) Ladder was underwritten by Allianz Life; Ethos is primarily underwritten by Legal & General America (Banner Life parent). (3) Ladder is no longer accepting new applications; Ethos remains fully active as of 2024.
