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Ladder

Ladder

Digital term life insurance provider

About

Ladder Life provides term life insurance through a digital platform aimed at individuals looking for an easy and efficient way to secure coverage. Customers can apply for up to $3 million in coverage without needing medical exams or extensive paperwork, making the process straightforward and accessible. For those seeking higher coverage amounts, a simple at-home health check may be required. This digital-first approach not only streamlines the application process but also helps lower costs, allowing Ladder Life to offer more affordable premiums compared to traditional life insurance providers. Additionally, Ladder Life features a coverage calculator to assist customers in determining their insurance needs, typically suggesting coverage that is ten times their salary to cover major expenses like mortgages and education. The goal of Ladder Life is to make life insurance more accessible and affordable for everyone.

Company Stage

Series D

Employees

51-200

Industries

Financial Services

Total Funding

$194M

Headquarters

N/A

Founded

2015


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Simplify's Take

What believers are saying

  • Ladder's integration with Envestnet | MoneyGuide empowers financial advisors to seamlessly offer digital term life insurance, potentially increasing market penetration.
  • The partnership with AmeriSave Mortgage Corporation provides a significant opportunity to cross-sell life insurance to mortgage customers, enhancing revenue streams.
  • Ladder's digital model and streamlined processes can attract tech-savvy customers looking for hassle-free insurance solutions, driving customer acquisition and retention.

What critics are saying

  • The reliance on digital platforms may alienate older or less tech-savvy customers who prefer traditional methods of purchasing insurance.
  • Intense competition in the digital life insurance space from both startups and established insurers could pressure Ladder to continuously innovate and reduce margins.

What makes Ladder unique

  • Ladder Life's digital-first approach eliminates the need for medical exams for coverage up to $3 million, streamlining the application process and reducing costs.
  • The ability to 'ladder' coverage, allowing policyholders to adjust their coverage as needed, offers a unique flexibility not commonly found in traditional life insurance policies.
  • Partnerships with organizations like WEA Member Benefits and AmeriSave Mortgage Corporation extend Ladder's reach into niche markets, enhancing its competitive edge.

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Growth & Insights
Headcount

6 month growth

-3%

1 year growth

-13%

2 year growth

-21%

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