Ethos Life Insurance Review
Launched in 2016, Ethos set out with the goal of taking the hassle out of the life insurance application process and making finding a policy as painless as possible. The fully digital application can take as little as 10 minutes to complete, and most people who qualify for coverage don’t need to complete a medical exam.
Ethos allows you to select coverage amounts and customize coverage based on your specific needs. The company uses data such as your motor vehicle records, family medical history and current drug prescriptions to calculate eligibility and set rates. While not an insurance provider themselves, Ethos works with a number of partner companies to provide life insurance at affordable rates. The partners include Legal & General America, AAA Life Insurance, TruStage, a subsidiary of CMFG Life Insurance and Ameritas Life Insurance Corp.
Pros
- Up to $2 million in no-medical-exam term coverage
- Quotes available without speaking to a life insurance agent
- Offer both term life insurance and whole life insurance
- Term life insurance through Ethos is renewable up to age 94
Cons
- Do not offer a cash value component
- No-exam term life insurance policies cannot be converted to permanent policies
- Requires detailed personal information to see quotes
Bottom Line
Ethos offers a streamlined online application process that doesn’t require a medical exam for most applicants, and policies are underwritten by established insurers with high marks for financial strength. In general, if you are looking for standard levels of coverage and don’t require a large variety of additional coverage types, Ethos could be a great fit. They can pair you with a policy that meets most needs with monthly premiums that aren’t likely to break the bank.
That said, with limited customization options, relatively low coverage limits, and no traditional permanent policies or term conversion options, Ethos won’t meet everyone’s needs. If you require larger policies or would prefer a larger selection of life insurance riders, it might be worthwhile to search elsewhere.
