Here’s How to Get $3 Million in Life Insurance Without Spending a Lot of Money

Your life is dynamic, and your life insurance coverage should be able to change with it.

Ladder gets that. It offers term life insurance policies that can be adjusted at any time (i.e. increasing or decreasing the coverage amount), or even cancelled without any additional charges. It lets you get up to $8 million in coverage at affordable rates.

You could get up to $3 million in coverage for less than $50 a month.

Secure Your Family’s Future the Simple Way

You can use Ladder’s coverage calculator to figure out how much coverage you should have. Then your online application only requires a few steps:

• Take about five minutes to answer questions about your health and life, such as your income.
• You’ll get an instant quote for coverage, and there’s no risk. You won’t even have to get a full physical. Some simple lab work might be required, but that’s easy, right?
• You’ll need to enter your driver’s license and Social Security number, which is true for any life insurance application. The company needs this information to verify your identity and prevent fraud. It uses a secure website and will not sell your private information.
• You’ll pay no policy fees, and you can cancel anytime. You even get a 30-day money-back guarantee.

At 5 years old, Derick Davis’ life changed forever when his father unexpectedly died.

He had a life insurance policy. But his coverage wasn’t enough to help Davis’ mom keep their family afloat.

Now 37, Davis’ life has since changed significantly: He lives in Virginia with his wife and two boys, and he works as an assistant professor at the University of Virginia. After completing 13 years of college, he earned a PhD — and racked up thousands of dollars in student loan debt. On top of paying that down, Davis and his wife have two college educations to save for.

With so many futures hanging in the balance, Davis realized he wasn’t doing enough to keep his family protected.

“If money’s tight now,” he says, “imagine what it would be like if your income is gone when you’re not around.”

Thankfully, the process was so simple, Davis and his wife got a policy through Ladder that covered them both at 10 times their current income. And the monthly payment? Less than their phone bill.

“I thought it was going to be hundreds of dollars a month, and that just wasn’t the case,” says Davis.

Now, he and his wife can sit back and relax, knowing Ladder will help provide financial support for their family if something ever happens to them.

“It makes me feel that I’m doing the right things in order to give my kids the best chance if something should happen,” he says.

The statements and testimonials presented here were provided voluntarily and not in exchange for any payment, and are applicable for the individual(s) mentioned above. Individual results and experiences may vary.

Farrah Daniel is an editorial assistant at The Penny Hoarder.