Ladder offers flexible term life insurance, the simplest and typically most affordable type of life insurance. It provides a lump sum benefit to your beneficiary if you pass away during a certain period of time, called the “term.” Depending on your age, the term can be 10, 15, 20, 25, or 30 years.
Additionally, Ladder makes it easy to adjust your coverage amount over time. With just a few clicks, you can easily lower your coverage and lower your monthly cost. You can increase your coverage by applying for a new policy.
There are other types of life insurance products out there, such as whole life insurance. These policies offer lifelong coverage, but the cost is usually substantially higher than term insurance. Ladder doesn’t offer whole life insurance because we believe that for most families, it makes more sense to get affordable coverage that protects them during the years they need it the most. Our life insurance guide includes more information on the difference between term and whole life insurance.