About Ladder Life
Ladder Life is a new life insurance start-up that offers the term life insurance policies online using modern technology.
The company is backed by giant financial institutions; Fidelity Security Life Insurance Company and Hannover Life Reassurance Company of America to issue policies.
In California, it got launched in January 2017 and within 200 days managed to issue $300,000,000 in coverage. At present, it is serving in 48 states and the District of Columbia.
When it got started?
The company Ladder Life came into existence in April 2015 by the efforts of Jamie Hale, Laura Hale, Jeff Merkel and Jack Dubie in Palo Alto, United States.
Its founders were keen to generate a new way of getting life insurance. By using out their previous experience in product management, finance, business development, and engineering they sorted out the way.
They worked on a basis of $16 trillion dollar life insurance gap in the United States with a motive to reach customers quicker.
In California, its division was launched in 2017 selling out
policies there until the end of that year but now it covers around 48 states in the United States.
Ladder Life company also has financial support from Fidelity Security Life Insurance Company which is in the market since 1969 and from Hannover Life Reassurance Company of America.
Company Ladder Life also received an honor in March 2018 for being among the top ten most innovative companies in Finance in Fast Company’s Most Innovative Companies for 2018.
What they offer in the market?
Ladder Life offers only term life insurance policies in the market. The coverage range is from $100K-$8M for term years of 10,15,20,25 and 30. The clients covered under the policy have an age range from 20-60 whereas medical exam depends.
The company is not in the business of permanent life insurance policies because these require cash value to cover you for entire life. With policies they have some features added for customers;
• One can apply online in about 20 minutes with instant decision.
• No medical exam for $1 million coverage.
• One can add or subtract coverage throughout the life of the policy.
Why they are so important?
The company is an easy solution for those busy people who prefer to buy life insurance online without the help of any agent.
It is concentrating on laddering strategy for life insurance to allow you to feel easy, flexible and convenient while looking for the policy online.
They have fast and easy options for your coverage with full control of premiums and death benefits.
Even on a competitive basis in market Ladder policies don’t require a medical exam and are only partially underwritten with cheaper price then Haven Life and Fabric.
They provide you with account that can be accessed any time even at your bed time.
References
https://www.ladderlife.com/about
https://techcrunch.com/2017/01/10/life-insurance-startup-ladder-launches-in-california/