Ethos Life Insurance was founded in 2016, offering affordable term life and guaranteed whole life insurance. Although it is relatively new to the life insurance industry, Ethos sells insurance policies from long-standing carriers. With Ethos' easy-to-use online application process and these reputable companies' coverage, it can provide a life insurance experience online in a matter of minutes.
Business Insider compared Ethos Life Insurance to the best life insurance companies and found it to be a standard offering, with no-exam whole life insurance for seniors and some extra benefits, like estate planning services.
Ethos Life Insurance Overview
Ethos is an easy option for seniors looking for a simple and guaranteed whole life insurance that can help cover funeral and other end-of-life costs. Ethos even offers will and estate planning services to eligible policyholders. Though this service is technically complimentary, the price of these services is folded into the policy premiums. As a result, people who already have access to these services may want to consider a different company.
Ethos' term life insurance is fairly straightforward, offering up to $2 million in death benefits with no medical exam required. However, it's important to note that Ethos does not underwrite its own insurance policies, instead partnering with a number of insurance providers like Legal & General America, Ameritas Life Insurance Group, and TruStage. While these are all reputable insurance companies, policyholders may prefer to deal directly with their insurance provider.
Ethos Life Insurance Pros and Cons
Ethos Life Insurance Pros
- Policies do not require a medical exam
- Up to $2 million in term life without a medical exam
- Complimentary estate planning tools
Ethos Life Insurance Cons
- Customers must complete an application to receive precise quotes
- Does not underwrite its own life insurance policies
Ethos Life Insurance Plans Available
Ethos offers two main types of life insurance: term life insurance and guaranteed whole life.
Ethos Term Life Insurance
Ethos offers term life insurance from $100,000 to $2 million for buyers between 20 and 65 years old. Terms include 10, 15, 20, and 30 years. Quotes for the coverage you need are available on its website, and a specific price is given once the entire application is filled out.
You must complete the application, including providing your beneficiaries' information, before you can see your final quote. The application is entirely online and will never require a medical exam. You'll just have to answer a few health questions.
Ethos Whole Life Insurance
Ethos' whole life insurance policy is only available for seniors ages 66 to 85. Buyers within that age range qualify for guaranteed approval for $10,000 to $30,000. As you pay your premium, your policy can accumulate cash value.
The exact number varies based on medical records, age, and other factors. However, buyers are not required to undergo a life insurance medical exam. Instead, they'll just be asked a few health questions. Ethos's guaranteed acceptance policy best suits seniors looking for funeral coverage.
Importantly, life insurance companies can access medical records, so be honest about your health and other personal information.
Additional Coverage Options from Ethos
A term life policy through Ethos has two extra features:
- Guaranteed renewable: The insurer cannot drop the insured person if they pay scheduled premiums. This rider does not guarantee premiums or a set coverage limit.
- Guaranteed level premiums: A term policy's premium will stay the same throughout the policy. This rider wouldn't apply if the buyer renewed the policy.
Eligible Ethos policyholders also get free will and estate planning services to help them pass on assets, choose guardians for their children, and protect their families. Estate Planning Tools are available with the purchase of an eligible policy.
Residents of Washington and South Dakota don't qualify for its complimentary will services.
How Much Does Ethos Life Insurance Cost?
Ethos makes it easy to get quotes for the cost of life insurance on its website, but a more accurate quote requires a complete application. We used Ethos' instant life insurance to obtain quotes for someone in excellent health taking out a $500,000, 20-year policy. For comparison, we also included the average cost for the same policy, according to data from Policygenius.
| Age | Sex | Ethos Quotes | Average Cost |
| 20 | Female | $16-$30 | $23 |
| 20 | Male | $21-$39 | $30 |
| 30 | Female | $17-$31 | $23 |
| 30 | Male | $23-$40 | $29 |
| 40 | Female | $29-$50 | $35 |
| 40 | Male | $38-$69 | $43 |
| 50 | Female | $70-$119 | $78 |
| 50 | Male | $89-$158 | $102 |
| 60 | Female | $186-$342 | $194 |
| 60 | Male | $298-$477 | $269 |
Nicotine users will pay considerably more, sometimes at least twice as much, for the same coverage as their non-nicotine-using counterparts.
How to File a Claim with Ethos Life Insurance
Because Ethos is not the actual insurer of the life insurance policies, a beneficiary must contact the issuing company of the policy to file a claim.
Ethos Life Insurance Customer Reviews and Ratings
Ethos has outstanding reviews online, receiving an average of 4.8 stars out of five on its Trustpilot page and 4.46 on its Better Business Bureau page. Many reviews mentioned the ease of applying for life insurance, and people who talked to an agent said they were knowledgeable and polite, often refering to their agent by name.
It's worth noting that insurance companies often receive poor reviews on third-party review sites, often because reviews are generally left by people who have something to say, which is usually negative. On the other hand, insurance companies with really positive reviews often encourage their customers to leave reviews at the end of the purchasing process.
As Ethos is not an insurance provider, it does not have ratings from the National Association of Insurance Commissioners. However, we can look at some of the ratings from some of its partners. Ameritas Life Insurance Group, one of Ethos' underwriters, has a 1.04 rating on the NAIC Complaint Index, where a 1.00 rating means that a company is receiving the expected amount of complaints given its share of the market, and anything higher means that a company is exceeding its expected share of complaints.
Ethos also doesn't have its own rating from AM Best, but its website says it works with A-rated life insurance providers. Ameritas has an A rating for financial stability, Legal & General America has an A+, and CMFG Life Insurance Company (TruStage) has an A.
Ethos Life Insurance Alternatives
Ethos Life Insurance vs. Ladder Life Insurance
Ladder Life only offers term life insurance, with no-medical exam death benefits that range from $100,000 to $3 million — higher than Ethos's term life limit. Customers who opt for a medical exam are eligible for up to $8 million in coverage. Terms range from 10 to 30 years in five-year increments. Quotes are also easily accessible online.
Ladder's biggest selling point is its laddering feature, which allows policyholders to adjust their death benefits and premiums an unlimited number of times throughout the policy's life.
If you're looking for term life insurance, Ladder is a better choice, especially if you're willing to take an exam.
Read our Ladder life insurance review.
Ethos Life vs. Bestow Life
Ethos and Bestow Life are digital life insurance agencies quoting coverage 100% online. Unlike Ethos, Bestow offers no riders and only term life insurance coverage. However, Bestow underwrites its own insurance policies.
Bestow's minimum coverage is $50,000, compared to Ethos's $100,000. However, Bestow's maximum coverage is $1.5 million, compared to Ethos's $2 million.
Between the two companies, Ethos is the better option with a higher maximum death benefit and additional riders. However, you'll find term-only life insurance companies that are better than both Ethos and Bestow.
Read our Bestow life insurance review.
Ethos Life Insurance FAQ
You can get questions about your policy answered by emailing protection@Ethoslife.com. If you need help with your payment, you can email payments@Ethoslife.com. If you have other questions, you can email support@Ethoslife.com or call (415) 697-3331.
Yes, you cancel your Ethos policy within 30 days of purchase and receive a full refund. If you decide to cancel later, you can do so without any fees, but you won't receive a refund.
No, Ethos does not require medical exams for any of its policies.
You can get a range of possible premiums by using Ethos' instant quote tool. For a more precise quote, you'll have to give more information to Ethos, including your Social Security number.
Why You Should Trust Us: How We Reviewed Ethos Life Insurance
Our insurance rating methodology helps us compare companies objectively to help consumers make informed decisions. We look at factors including:
- Cost of a policy: Underwriting will determine your premiums based on your perceived risk level. However, we do our due diligence to find affordable rates and the best value. To do so, we compare a company's cost with the average industry rate ($40 to $56 per month) and with its competitors. We also assess the impact of demographic factors (age, health classification, etc.) on premiums.
- Company offerings: We look at the variety of products a company offers, including the availability of short-term and long-term policies and supplemental riders. Shoppers with more complex financial needs may value access to universal life policies or the option to convert to a permanent plan. Those who only need basic coverage may like the simplicity of companies offering only term life insurance.
- Policy customization: We look at a company's term length options and range of coverage amounts. Shoppers with unique circumstances may need more coverage or longer term lengths (several companies offer up to 40 years of term life coverage). The availability of riders also enhances a policy by providing extra protection.
- Financial strength: Financial stability indicates how consistently a company can deliver on its financial commitments during unstable economic conditions like a recession. We used AM Best, an industry-renowned credit rating agency, to determine an insurance firm's financial health. Companies receive grades from A++ (Superior) to F (not financially stable). If a company earns under a B, its financial strength is questionable. The company may not be around to pay your death benefit claim.
- Customer service: Using JD Power's life insurance customer satisfaction survey, we called out companies known for top-tier customer support. JD Power surveyed over 5,000 participants who ranked providers based on service from the purchasing to the claims process. JD Power distributed points out of 1,000 to each firm. Providers scoring over 774 points demonstrated superior customer service.
- Exclusions: Insurance providers may exclude applicants to minimize risk. Some companies will increase rates or disqualify life insurance buyers with preexisting conditions, smokers, or older applicants. Our review highlights where applicants may encounter disqualification or higher premiums based on the provider's exclusions.
Read more about how Business Insider rates life insurance.
