Ethos Review

BySarah BadaniNov.20, 2018

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In a Nutshell

By partnering with some of the most credible names in the life insurance industry, Ethos is able to offer fast and easy coverage that is also affordable. A human approach has earned Ethos a great reputation and it’s perfect for individuals and young families in particular who want to be protected in the unfortunate event of a loss.

pros

  • Fast online application process
  • Generally, no medical exams required

cons

  • Not available in NY
  • Permanent life insurance policies just started

Best For?

Ethos is particularly useful for people who need to replace their normal income over a certain period of time. Additionally, Ethos life insurance policies are ideal for:

  • Anyone looking for affordable coverage
  • Anyone who wants a faster alternative to the traditional life insurance process
  • Young families that need the coverage the most and are generally unaware of how life insurance policies work

Features

Ethos does its best to make life insurance policies flexible and pain-free. It offers flexible riders such as Critical Illness riders that pay out a one-time cash sum in the event of cancer or carcinoma or a Child Protection rider that covers children up to the age of 25. Ethos also has a Waiver of Premium rider that entitles you to stop paying premiums if you are severely disabled. You can also opt for an Endowment Benefit rider that will give you back some of your previously paid premiums after a designated amount of time.

Ethos also has a helpful coverage calculator that will help you see how much you would pay each month for a policy with a given amount and length of time. You can play around with the slide bar to see how your monthly payment changes based on changes made to your details.

Ethos has a fairly flexible late payment policy. If you miss a regular monthly payment, Ethos will give you a 30-day grace period in which to make the payment. If the payment is still outstanding after 30 days, Ethos will terminate the life insurance policy. This is reasonable and more generous than some life insurance agencies that charge a late payment fee or terminate immediately if a payment is missed.

Coverage includes:

  • Mortgages
  • College tuition for your kids
  • Living expenses
  • Loans for family members
  • Funeral expenses
  • Estate taxes
  • Labor expenses

Application Process

One of the biggest advantages of Ethos life insurance policies is that they are quick and easy. You can fill out the application form online and it takes only a few minutes to complete. For the majority of people, there are no blood tests or medical exams required, either. You can have an insurance policy quote within 10 minutes.

The application process is as follows:

  • Fill out a few basic details like gender, age, and general health status and confirm that all information is accurate and truthful
  • Then, you need to answer more basic information such as: who you want protected, your height and weight and other related health questions
  • After that, you’ll be asked questions about your lifestyle, such as: do you participate in extreme sports, have you been convicted of a felony, or do you take drugs recreationally 
  • Finally, you’ll be asked questions about your general health, such as: do you suffer from heart disorders, have you had a blood transfusion in the last 10 years, or do you experience chronic chest pains 

After that, you’ll be brought to a payment form to complete the process. Once you confirm, your policy will be activated immediately. On the left side of the screen, you can see what stage of the application process you are currently up to. 

Additionally, you can speak to a representative if you prefer. You can schedule an appointment directly on the Ethos site or opt to have an agent call you by clicking on the link.

Policy Types and Terms

Ethos offers 2 types of policies:

  • Term Life Insurance

Term life insurance is the most basic type of life insurance. You choose a length of time during which you are covered under the policy. If you pass away during that time frame, your family will receive cash payments to cover most of their needs including daily living expenses, mortgage debts, college debt, funeral costs, and more. Ethos' term policies are pretty standard in the industry. It offers 10-30 year policies for policyholders ranging from 18-75 years of age. The death benefit ranges from $25,000 - $10 million, and this is a pretty big range for industry standards. This is a big plus for policyholders because it gives them the flexibility to decide how much they want to spend based on exactly how much coverage they want. Policies can work out as low as $6/month, and no premium increases will ever apply.

  • Permanent Life Insurance

Permanent life insurance is a little more complicated. This is a lifetime investment that will pay your beneficiaries at the time of your passing that can be borrowed off of or surrendered for a cash advance. This is a new offer for Ethos that brings the company up to date with its competitors and even a little ahead with its streamlined application process.

The amount of time and the amount of money you pay each month will factor into the overall death benefit that the beneficiaries are paid upon activation. Most claims are paid in full within 10 days. Additionally, Ethos will work together with the bereaved family to help them through the finer details during this difficult time.

In terms of applicant requirements, Ethos is pretty straightforward. The only thing it asks for is that:

  • You are between the ages of 18-75
  • You are a citizen of the United States, or have a green card, and have been living in the US for a minimum of 24 months
  • You live in one of the 49 states where Ethos is available (Ethos currently does not cover New York state residents)

How Safe Is It?

Ethos is backed by some of the most reliable leaders in the life insurance industry, including Munich Reinsurance America, Aon, RGA and Assurity, which is one of the largest life insurers in the United States. It has been in business for more than 125 years, and currently funds $17.5 billion in life insurance policies, making Assurity one of the longest standing insurers in the country and a highly credible partner to be working with.

Help & Support

Ethos is known for being a customer-friendly company. A small company, it takes time to answer and attend to each customer personally. Customer support can be reached by phone, email and social media.

Summary

Ethos is not your typical life insurance policy provider; it's cut out the tedious steps usually involved in the process and put everything into a quick and easy online application form. The process is smooth and smart, and since there's no middleman, life insurance policies are cheaper.

Unlike traditional life insurance providers, Ethos has a real human touch. Its website is comprehensive, clear, and easy to navigate and its policies are explained in simple English. Ethos deals with the sensitive subject of loss, after all, and does its part to be sensitive, helpful, and supportive to its customers.

Although it has only been around for little more than a year, Ethos has already made a great name for itself. Partnering up with some of the most credible names in the life insurance industry, offering fast and easy coverage that is also affordable, and giving the company a real human flavor has earned Ethos the title of being one of the top life insurance policy providers available today. Ethos is perfect for individuals and young families in particular who want to be protected in the unfortunate event of a loss.

Physical Address

301 Rhode Island St.

San Francisco, CA