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Overview
Ladder Life is a digital-first life insurance provider that offers term life coverage. It lets customers apply online for up to $3 million without a medical exam; for higher amounts, a quick at-home health check may be required. Coverage lasts a fixed term of 10 to 30 years, after which it ends unless renewed. The company earns revenue from policy premiums. It also provides a coverage calculator, which commonly suggests coverage equal to about 10 times the user's salary to cover major expenses like a mortgage, debt, education, and emergencies. Ladder Life differentiates itself by a fully online, hassle-free application process that reduces costs, making term life insurance more affordable. Its goal is to make term life coverage accessible and straightforward for individuals seeking simple, affordable protection.
About Ladder
Industries
Fintech
Financial Services
Company Size
51-200
Company Stage
Series D
Total Funding
$196.1M
Headquarters
Palo Alto, California
Founded
2015
Simplify's Take
What believers are saying
- WEA Member Benefits partnership reaches PK-12 educators nationwide since June 2024.
- Envestnet MoneyGuide integration equips 107,000 advisors with seamless Ladder access.
- AmeriSave cross-sell targets mortgage borrowers with $18/month $500K coverage.
What critics are saying
- Bestow's AI approvals up to $1.5M erode Ladder's share in 6-12 months.
- Ethos diverts 20-30% of young family applicants via bundled tools in 12-18 months.
- California regulators mandate exams above $3M, halting no-exam sales in 12-24 months.
What makes Ladder unique
- Ladder's laddering feature enables real-time coverage adjustments without new underwriting.
- 100% digital application delivers instant decisions in under 5 minutes for up to $3M.
- Real-time underwriting eliminates medical exams, saving policyholders up to 40% on premiums.
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Funding
Total Funding
$196.1M
Below
Industry Average
Funded Over
7 Rounds
Lightspeed Venture PartnersIndustry standards
Benefits
Health Insurance
Dental Insurance
Vision Insurance
Unlimited Paid Time Off
Stock Options
401(k) Company Match
Commuter Benefits
Parental Leave
Home Office Stipend
Phone/Internet Stipend
Company Social Events
Growth & Insights and Company News
6 month growth
↑ 0%1 year growth
↑ 2%2 year growth
↑ 0%MADISON, Wis., June 11, 2024 /PRNewswire/ -- WEA Member Benefits , the Wisconsin-based company that provides personal insurance and retirement and investment programs to promote the financial well-being of public school employees and their families, has partnered with Ladder to offer term life insurance policies to those employed at PK-12 public schools nationwide.As a result of the partnership, PK-12 public school employees and their families can purchase a low-cost term life insurance policy via an easy, online application process through the website at weabenefits.com/lifeinsurance.WEA Member Benefits and Ladder partner to offer online term life insurance to PK-12 public school employees nationwide. Post thisPolicies through Ladder offer the unique opportunity for individuals to "ladder" (adjust their coverage) when needed. Policies provide coverage between $100,000 to $8 million for terms ranging from 10-30 years."Public school employees work very hard and deserve to have access to convenient and affordable life insurance protection to insure they have the coverage needed to protect their loved ones' financial security," said Dave Kijek, WEA Member Benefits President and CEO. "Partnering with Ladder provides just that. Through their on-line application and underwriting, most educators can get coverage in less than 15 minutes."Life insurance is an important part of a family's financial stability and well-being. Especially with the rising cost of living, if a family is dependent on an individual's income, the family would likely struggle if that person were to pass away
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Advisors using Envestnet | MoneyGuide will now have the ability to offer clients digital term life insurance via a fast & seamless digital experienceBERWYN, Pa., Jan. 24, 2024 /PRNewswire/ -- Today at the T3 Technology Conference, Ladder, the insurtech offering digital, flexible life insurance in minutes announced an integration with Envestnet | MoneyGuide , a leading financial planning software company serving over 107,000 financial advisors. This will empower more financial advisors with the capabilities to provide clients with term life insurance issued by reputable insurers.With this partnership, financial advisors utilizing Envestnet I MoneyGuide Elite's Advanced Lifetime Protection tool will be able to offer their clients digital, convenient, and affordable term life insurance. Financial advisors will be able to estimate clients' coverage needs, generate a quote, and send clients a link to apply—all from within the Envestnet | MoneyGuide platform.MoneyGuide's Advanced Lifetime Protection tool is designed to illustrate how a clients' protection needs can change over time. This tool may help advisors identify an opportunity to improve a client's probability of successfully achieving the goals in their client's financial plan."Life insurance is a critical piece of a comprehensive financial plan," says Mike Izakov, Head of Financial Institution Partnerships at Ladder. "We believe MoneyGuide has the most robust planning tool in the industry, and we're excited to make it even easier for advisors to get clients the coverage their plans call for."With Ladder's industry-leading digital capabilities and proprietary flexible coverage (i.e
MoneyGuide is also announcing an integration with Ladder which allows advisors to access digital term life insurance for their clients.
VC firm Thomvest Ventures has closed a new $250 million fund that will be deployed into startups operating in the areas of fintech, proptech, cybersecurity, and cloud and AI infrastructure. The firm plans to invest in approximately 25 to 30 companies. Check sizes will be $5-$15 million for early stage and $7-$25 million for later stage ventures. Thomvest Ventures has backed several insurance startups including
Ladder is Hiring for 5 Jobs on Simplify!
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About Ladder
Industries
Fintech
Financial Services
Company Size
51-200
Company Stage
Series D
Total Funding
$196.1M
Headquarters
Palo Alto, California
Founded
2015
Ladder is Hiring for 5 Jobs on Simplify!
Find jobs on Simplify and start your career today