If you are shopping for affordable life insurance and need coverage quickly, Ethos is one of a handful of companies that sell directly to consumers and do not require a medical exam.
It’s important to know that Ethos is not a life insurance company but rather, a marketing company that represents and partners with highly-rated insurance companies. Although Ethos is a marketing organization, the operation is more like an independent insurance broker.
Since Ethos offers products on a B2C (business to consumer) basis, they do not offer all the products that each of their “partners” have available. The companies that Ethos place business with are:
The insurance company that your policy will be placed with depends on the state you live in and the type of product you prefer to purchase.
Founded in 2016 by Peter Colis and Lingke Wang, Ethos was established with a goal to make life insurance more affordable to consumers, accessible online or via authorized independent agents, and an underwriting process that is quick and simple.
According to Ethos’ website, the company got its start because Lingke Wang went through a bad experience purchasing life insurance while in college. Both founders firmly believe that most life insurance applicants are not familiar enough with life insurance products to make an informed purchasing decision.
Rather than spend time and money to educate prospective clients about life insurance, the mission at Ethos is to make life insurance more simple and easier to understand.
The company got its start with a $400 million investment from various organizations like Goldman Sachs, Softbank, and Accel, and began to implement its plan to revolutionize the life insurance purchasing process.
Like every life insurance company and depending on your need for life insurance, you will find pros and cons in various categories which should be weighed before making a life insurance purchase. You will have only a 30-day free look period to decide whether or not the policy you received meets your needs and budget and if not, you can cancel and return the policy for a full refund of the premium you’ve paid.
Pros:
Cons:
Ethos offers traditional term life insurance via its life insurance partners. Similar to other companies, policy periods of 10, 15, 20, and 30-year terms are available and applicants can choose between simplified issue underwriting (quick issue with no medical exam) or a fully underwritten policy with a medical exam requirement.
For applicants in good health, a fully underwritten policy will generally be the better choice because of lower rates and the ability to purchase a higher death benefit.
Although Ethos term policies do not have a conversion option, your term policy is renewable at the end of the policy term on a year-to-year basis.
As far as optional riders are concerned, Ethos term life insurance policies are available with one option, an Accelerate Death Benefit rider.
Here is how Ethos life insurance compares with other highly-ranked life insurance companies.
Comparison: $500,000 20-year Term Life Insurance for a very healthy male non-smoker:
| Age | Ethos | Market |
|---|---|---|
| 25 | $22 | $18.98 |
| 35 | $26 | $21.25 |
| 45 | $61 | $47.22 |
| 55 | $157 | $114.83 |
Comparison: $500,000 20-year Term Life Insurance for a very healthy female non-smoker:
| Age | Ethos | Market |
|---|---|---|
| 55 | $109.00 | $114.95 |
| 65 | $185 | $169.40 |
| 75 | $312 | $278.12 |
For consumers who are looking for a policy to cover their final expenses when they die, Ethos offers a guaranteed issue whole life policy that is the best choice for seniors dealing with severe or multiple health issues. Guaranteed issue means if you are alive and not in a hospice facility the company will likely issue a policy.
A guaranteed issue whole life policy provides the same features and benefits of traditional whole life insurance except there is no medical underwriting involved to purchase coverage;
Comparison: $20,000 Guaranteed Issue Whole Life Insurance for a healthy male non-smoker:
| Age | Ethos | Market |
|---|---|---|
| 55 | $109.00 | $114.95 |
| 65 | $185 | $169.40 |
| 75 | $312 | $278.12 |
Comparison: $20,000 Guaranteed Issue Whole Life Insurance for a healthy female non-smoker:
| Age | Ethos | Market |
|---|---|---|
| 55 | $109.00 | $114.95 |
| 65 | $185 | $169.40 |
| 75 | $312 | $278.12 |
If you are like so many other life insurance shoppers that want a policy issued in a day rather than weeks or months but will not break the bank, a term or whole life insurance policy from Ethos Life may be a very good choice for your circumstances and budget.
Getting a quote and policy for Ethos Life is quick and easy. Simply click on the “Get Quotes Now” button below and you’re on the way to finding a Term or Whole Life insurance policy that is right for you.
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