Haven Life vs Ladder Life Insurance
Haven Life vs. Ladder Life Insurance: Which Online Insurer Offers the Best Value?
With the rise of online-first life insurance providers, Haven Life and Ladder Life have emerged as leading contenders for people seeking fast, affordable term life insurance without the paperwork. Both promise an intuitive digital experience, no agent pressure, and competitive pricing. But which one delivers the best combination of value, ease, and reliability?
Let’s break it down.
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Company Overviews
Haven Life
Haven Life is a digital life insurance agency backed by MassMutual, one of the oldest and most respected insurers in the U.S. It launched in 2015 and focuses on fully underwritten and simplified issue term life policies with instant decisions for qualified applicants.
Ladder Life
Ladder Life launched in 2017 with a focus on flexibility and affordability. It’s reinsured by Fidelity Security Life Insurance Company and Allianz Life Insurance Company of New York. Ladder’s standout feature is the ability to “ladder” your coverage up or down as your needs change—all online.
Financial Strength & Ratings
| Rating Agency | Haven Life (MassMutual) | Ladder Life (Reinsurers: Fidelity & Allianz) |
|---|---|---|
| AM Best | A++ (Superior) | A (Fidelity), A+ (Allianz) |
| Moody’s | Aa3 | N/A |
| Standard & Poor’s | AA+ | A+ |
| Fitch | AA+ | Not Rated |
Verdict: Haven Life has stronger backing through MassMutual, offering greater long-term financial security. Ladder is strong, but uses multiple reinsurance partners with varying strength levels.
Policy Types Offered
| Policy Type | Haven Life | Ladder Life |
|---|---|---|
| Term Life Insurance | ✅ Yes (up to 30 years) | ✅ Yes (up to 30 years) |
| Whole Life Insurance | ❌ Not offered | ❌ Not offered |
| Final Expense | ❌ Not offered | ❌ Not offered |
| No Medical Exam | ✅ Haven Simple (up to $500k) | ✅ For some qualified applicants |
Coverage Options & Flexibility
Haven Life:
- Offers 10–30 year terms with up to $3 million in coverage.
- Haven Simple offers no-medical-exam coverage up to $500,000.
- Policy changes post-issuance are limited compared to Ladder.
Ladder Life:
- Offers term life from $100,000 to $8 million.
- Unique feature: ladder your coverage up/down online as needs change.
- Monthly billing is flexible and there are no policy fees.
Underwriting & Application Process
Haven Life:
- Instant decision for many applicants under 60.
- Full underwriting may be required for higher coverage.
- Haven Simple product allows no medical exam for up to $500k.
Ladder Life:
- Fully online with fast, algorithm-based approvals.
- No medical exam required for some applicants.
- Ideal for people in good health who want instant coverage.
Verdict: Both companies are excellent for fast approvals. Haven Life offers slightly more detailed underwriting backed by MassMutual. Ladder is better for dynamic coverage adjustments.
Pricing & Affordability
| Age/Gender | Coverage & Term | Haven Life (Monthly) | Ladder Life (Monthly) |
|---|---|---|---|
| 30-year-old male | $500k / 20 years | $18–$22 | $19–$23 |
| 40-year-old female | $250k / 20 years | $17–$20 | $18–$21 |
| 50-year-old male | $100k / 10 years | $28–$35 | $30–$37 |
Verdict: Pricing is highly competitive across both companies. Haven Life often wins on cost for medically underwritten policies, while Ladder is ideal for dynamic budgets.
Alternatives to Consider
- Bestow – 100% online, no medical exam policies up to $1.5 million.
- Ethos – Fast approvals, good for term and whole life hybrids.
- Fabric by Gerber Life – Focused on young families, also 100% digital.
- Banner Life – Great for longer terms and higher coverage if agent support is acceptable.
Riders & Customization
| Rider Type | Haven Life | Ladder Life |
|---|---|---|
| Accelerated Death Benefit | ✅ Included | ✅ Included |
| Waiver of Premium | ❌ Not offered | ❌ Not offered |
| Child or Spouse Rider | ❌ Not available | ❌ Not available |
| Conversion Option | ❌ No conversion | ❌ No conversion |
Verdict: Both platforms keep it simple. Haven Life includes more robust support tools like a digital will and document vault. Ladder prioritizes minimalist, adjustable coverage without complex riders.
Best For…
Haven Life
- ✔️ Healthy individuals under 60
- ✔️ People who want backing from a top-rated insurer (MassMutual)
- ✔️ Those looking for a no-medical-exam term policy up to $500k
Ladder Life
- ✔️ People whose coverage needs may change
- ✔️ Those wanting coverage up to $8 million
- ✔️ Budget-conscious buyers who want no policy fees and full digital control
Pros and Cons
Haven Life
- ✅ Backed by A++ rated MassMutual
- ✅ Simple, fast online process
- ✅ Offers no-medical-exam term life (Haven Simple)
- ❌ No policy customization
- ❌ No permanent life or final expense options
Ladder Life
- ✅ Adjustable coverage online at any time
- ✅ Up to $8 million in coverage
- ✅ Great for people with evolving insurance needs
- ❌ Not backed by a single top-tier insurer
- ❌ No riders or permanent life options
Customer Experience & Support
- Haven Life: Highly rated for customer service, with access to online tools, live chat, and extra features like a will-creation service and document storage.
- Ladder Life: Known for its simple interface, transparent pricing, and responsive support—though it lacks some of the wellness extras that Haven includes.
Final Verdict: Which Life Insurance Company Should You Choose?
If you want a solid, affordable policy backed by a legacy insurer and don't need to change your coverage often, Haven Life is a smart, reliable pick—especially with no-medical-exam options for under $500k.
If you want the flexibility to increase or decrease your coverage as your life evolves—say, buying a house, starting a business, or having kids—Ladder Life gives you more control without extra costs or complexity.
💬 Frequently Asked Questions (FAQs)
Is Haven Life or Ladder Life more affordable?
Do Haven Life and Ladder Life require a medical exam?
Which company offers higher coverage limits?
Can I change my coverage after the policy starts?
Which company is better for people over 50?
Is Haven Life backed by a traditional insurance company?
Do either Haven Life or Ladder Life offer permanent life insurance?
Which company offers additional digital tools or perks?
Blake Insurance Group
Phone: (888) 387-3687
Email: [email protected]
Hours: Mon-Fri 9:00 am to 5:00 pm
Sat-Sun: Closed
Blake Nwosu
Owner & Principal Agent