Determining Your Needs

How much life insurance do I need?

Big picture: consider how much financial support you’d like to provide for your beneficiaries and how much debt you have. Then, subtract your savings and existing life insurance. The best way to answer this question for your personal situation is to take a few minutes to fill out our Calculator.
Remember, with Ladder you have flexibility. If you get more coverage than you need, you can decrease it anytime (with no fees or penalties). On the other hand, if your needs grow, you can apply to layer on more coverage.

What length term is right for me?

There are a few factors to consider when determining the length of your term. Start out by looking at when your mortgage term ends, when your last child will graduate from college, and when your partner plans to retire. It generally makes sense for your term to last through these events.
You’ll also want to consider your own savings. If you’re a person who saves quite a bit each month, you may need insurance for a shorter term, as you’ll sooner rely on your savings instead.
Lastly, the price of your insurance can be a consideration. Longer terms are a bit more expensive per month than shorter terms, which could affect the decision you make.

How much will my life insurance cost?

Your monthly payment is determined based upon your personal situation, taking into account your age, sex, health, family medical history, and other factors. In addition, your monthly payment also depends very much on the length of your term and amount of your desired coverage.
Our customers are often pleasantly surprised when they see their monthly price. You can get a ballpark quote in seconds. Want to take a step further to see what your actual monthly price would be? Fill out an application. There’s no obligation to accept an offer—the choice to proceed is always up to you.

I already have life insurance with my employer - isn’t that enough?

Oftentimes not. Many people are surprised to learn that the life insurance included as part of their benefits package is only one or two times their salary.
Visit our Calculator to understand your needs. We find most people need far more than 1-2x salary. Not only is life insurance through an employer often not enough, it generally doesn’t move with you, if you change jobs.

Do people who stay-at-home need life insurance, too?

It’s a good idea. Those who stay-at-home provide all kinds of unpaid work to keep a household running. If something were to happen to a stay-at-home partner, it can be expensive to hire external help for things like child care, driving, cooking, cleaning, and managing household finances. It’s a wise decision to insure both adults in your household, regardless of whether they bring in income.

How often should I revisit my insurance needs?

Life is dynamic. As your needs change, so, too, should your coverage. For instance, if you have another child, purchase a home, or incur new debt, you might apply for more life insurance to cover these things. On the other hand, if you pay off your mortgage, a child graduates from college, or you’re able to save a large amount of money, you might decrease your coverage.
By and large, it’s a good idea to check in with yourself on a quarterly or annual basis and adjust your coverage accordingly.

Is there someone who can answer a few questions I have?

Absolutely. Everyone on our support team is licensed and happy to help with your questions. Reach out any time at