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Most Flexible Life Insurance

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Most Flexible Life Insurance

A lifetime commitment can be made when purchasing life insurance. But it makes sense that you should be allowed to alter your life insurance coverage as well, given that your financial requirements could alter over time.

Using the web interface, you may always lower the amount of coverage you have with Ladder. Whether you pay off your mortgage, your children reach adulthood, or your household debt is paid off, you can easily cut your coverage (and premiums) with just a few clicks.

You can apply for more coverage if you subsequently determine that you genuinely require more protection, up to a maximum of $8,000,000. Because of this, Ladder is highly distinctive in the field of life insurance and a fantastic choice if you believe your demands may vary over time (in either direction).

Ladder offers policies with durations of 10, 15, 20, 25, and 30 years with coverage amounts ranging from $100,000 to $8,000,000. From beginning to end, coverage up to $3,000,000 is offered exclusively digitally. As long as your age is between 20 and 60, you are eligible to apply for a policy. Remember that the sum of your age and term duration cannot be greater than 70.

With its carrier partners, Allianz Life Insurance Company of North America and Allianz Life Insurance Company of New York insurer possessing an A+ (Superior) ratings affirmed September 2020 from AM Best, ladder term life insurance products are offered in all 50 states. Visit www.ambest.com1 to see the most recent rating.

Quick facts about Ladder:

  • Decrease or apply to increase as needed
  • Available in all 50 states
  • Up to $3,000,000 in coverage available 100% online and $8,000,000 in total coverage offered
  • Allianz Life Insurance Company of New York and Allianz Life Insurance Company of North America hold A+ (Superior) ratings from AM Best

Best For Price And Speed: Ethos

To make life insurance available to as many people as possible, Ethos offers a variety of policy types.

For applicants between the ages of 20 and 65, Ethos offers term plans with 10-, 15-, 20-, and 30-year options (depending on your age). Depending on what you qualify for, coverage amounts of up to $2 million are available. Seniors can also get whole life plans for up to $30k. Therefore, regardless of your medical history, if you’re between the ages of 66 and 85, you’re sure to get authorized in a couple of minutes.

The application procedure is totally online, cost-free, and takes only ten minutes to do. Their intelligent underwriting engine will suggest numerous personal coverage alternatives with adjustable term durations and coverage amounts based on your responses to a few simple questions. You only need to respond to a few health-related application questions; there is no need to schedule a medical exam or doctor’s appointment. Even the majority of consumers get same-day coverage.

Quick facts about Ethos:

  • No medical exams required (just a few health questions)
  • Most applicants enjoy same-day coverage
  • Coverage amounts up to $2 million available
  • Coverage available in 49 states and the District of Columbia (New York excluded)
  • Every policy comes with a 30-day free look period
  • No obligations to buy and no hidden fees
  • Policies underwritten by top carriers

Haven Life is rated as having the strongest finances and the best riders.

When purchasing life insurance, it’s crucial to choose a plan that can be altered to meet your unique requirements and give you years of worry-free living. You can complete both of those through Haven Life.

For you to create the coverage that best suits you, Haven Life offers a variety of rider alternatives. An available rider is a waiver of premium, which exempts the insured from premium payment in the event of total disability brought on by disease or injury (available in some states).

The next is an accelerated death benefit, which, in the event that the insured is found to have a terminal illness, enables them to receive a portion of their policy’s death benefit while still alive. A insurance can always be renewed at the conclusion of its term with guaranteed renewability, even if the insured gets sick.

Last but not least, Haven Life Plus is an add-on rider that provides the insured with access to a number of beneficial advantages and services, including as participation in Aaptiv, MinuteClinic, and LifeSite storage.

Candidates ages 18 to 64 may apply for term life insurance policies from Haven Life for coverage amounts up to $3,000,000 (only $1,000,000 if you’re 60 to 64). All plans are guaranteed by MassMutual, an AM Best A++ (Superior) rated insurer, and are available in all 50 states and the District of Columbia.

Quick facts about Haven Life:

  • Available in all 50 states and DC
  • Up to $3,000,000 in coverage offered
  • InstantTerm gives immediate coverage (up to $1,000,000) for qualified applicants age 59 and under
  • Multiple riders to choose from
  • A++ (Superior) rating from AM Best

Why Buying Term Life Insurance is Important

The majority of us already understand the crucial role life insurance plays in long-term financial planning, particularly if we have loved ones or assets we wish to protect. But do you know all the advantages of life insurance?

Let’s look at what term life insurance can actually do for the people you love and why it’s such a powerful investment.

It can replace your income. Whether you are the sole breadwinner in your home or earn alongside your spouse, the loss of your income would likely put a serious strain on your family. With a term life insurance policy, you can replace that income for a determined number of years to help with financial protection for your loved ones.

It protects your estate. After your death, creditors will happily line up for their share of your assets. Whether you have a mortgage, credit card debt, co-signed student loans, or even auto loans, a term life insurance policy can help protect your estate so that your family can keep what you have worked hard to earn.

It can provide for the future. You can use term life insurance proceeds to provide for any number of future plans, such as your children’s college tuition, weddings, or the down payment on their first homes. You may even want to use term life insurance to fund a special endowment, scholarship, or even as a source of generational wealth.

It can cover costly final expenses. These days, the average funeral can easily cost $12,000 or more*. Between that and potential medical expenses, term life insurance proceeds can save your family from these hefty bills.

Term vs Whole Life

If you’ve been shopping around for life insurance coverage, you may have come across both term and whole life coverage options. So why would you choose term life over whole life, and what are the advantages of this specific life insurance product?

  • Term life insurance is more affordable. Term life insurance is usually a fraction of the cost of whole life insurance. For example, $50,000 of death benefit for a term life policy offered by Ladder starts at $4.95 a month.
  • Term life insurance is flexible. Need to increase your coverage because you got married, had children, or bought a home (or all three)? Term life insurance can be increased or cancelled to meet specific needs.
  • Term life insurance doesn’t have to last forever. Many people purchase life insurance to protect their families while the kids are young, or to cover their mortgage until the family home is paid off. Over time, though, the kids grow up and the house gets paid off, sometimes eliminating the need for life insurance coverage. With term life, you can buy a policy that protects you for as long as you need it, and ends when you don’t.

There are also benefits to whole life, such as those who are looking for a policy that builds cash value. Explore Ethos’ products for comparing term and whole life policies, especially for over 50.

When to Buy Life Insurance

Most of us have decades’ worth of exciting plans in mind. Unfortunately, death can sometimes come unexpectedly, making it important to buy life insurance when you hit certain milestones.

Wondering if this is the right time to spring for a new term life policy? Here is when you should consider buying coverage.

Buy while you’re young. The earlier you buy a life insurance policy, the less you’ll typically pay for coverage. That’s because your age, health, and pre-existing conditions all play a role in not just the price you pay, but whether you’re approved for coverage to begin with.

By locking in lower rates while you’re young, you can save hundreds — or even thousands — on life insurance premiums. And if you need more coverage later down the line, you can always add more or purchase a new policy.

Buy if you have others to provide for. If others rely on you for support (financial or otherwise), life insurance makes sense.

Buy if you have debt. Rather than leaving your loved ones holding the bag for certain debts, you can use life insurance proceeds as financial protection. Your coverage can pay off the mortgage on the family home, wipe out shared credit card debt, or even eliminate those student loans that your parents co-signed for years ago.

Benefits of Online Life Insurance

Life insurance looks very different today than it did 30, 20, or even 10 years ago. Rather than walking into an insurance agent’s office, you can buy a term life policy online in minutes, even if it’s at 2am.

There are many benefits to the online life insurance trend, too.

  • Because the application process is 100% online — avoiding costly office overhead and in-person interviews — many insurtech companies are able to offer lower premiums to consumers.
  • Applicants can answer questions, provide documentation, and submit applications in minutes, turning a process that used to take weeks or months into one that can often take minutes.
  • Online life insurance platforms with established names in industry are popular. National Family, launched in 2016, backed by Prudential.
  • Online life insurers offer immediate coverage without medical exams using advanced algorithms.

Of course, everyone’s experience will be different and can depend on a number of personal factors. However, the insurtech of today has made the life insurance-buying experience easier and faster than ever for nearly all consumers.


Can I still buy life insurance during a pandemic?

With the novel coronavirus affecting the entire world, it might seem like life insurance companies would stop writing new policies. The exact opposite is true, however! You can absolutely still buy term life insurance right now (even during a pandemic).


How quickly can I get life insurance coverage?

Approved life insurance policy in minutes based on health history, age, and factors. Ladder, Haven Life, Ethos approve without medical exam, quick response.

Will life insurance cover a COVID-19 related death?

Pandemic-related illnesses, medical concerns, travel may impact life insurance coverage; check policy details.

Is the coronavirus affecting the price of life insurance?

As of yet, term life insurance premiums seem to be holding steady even with the global impacts of the coronavirus. Low prices remain for now, subject to pandemic outcomes.

* Funeral costs – source:

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