Ethos Life Insurance Review

Updated: October 3, 2024

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MoneyGeek’s Take: Is Ethos Right for You?

Ethos’ term and whole life insurance policies are great for young or old individuals seeking coverage without having to take a medical exam. In particular, its whole life insurance offering is ideal for seniors who are looking for final expense insurance and need guaranteed approval.

Conversely, Ethos’ policies may not suit younger people who are looking for a whole life policy, as the company’s whole life insurance is limited to those aged 66 to 85. If you’re looking for a whole life policy and are under 66 years old, consider a policy from Nationwide or Northwestern Mutual.

Learn more about Ethos and the kinds of policies you can get before applying to ensure you’re making the best decision for yourself and your beneficiaries.

At a Glance: Ethos Life Insurance

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No medical exam required

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Offers quotes instantly online

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Offers same-day coverage

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Not available in New York

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Term life coverage eligibility ends at age 65

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Whole life insurance only available for those aged 66–85

COMPANY HIGHLIGHTS

Established in 2016, Ethos offers life insurance policies issued by some of the biggest names in the industry, including Legal & General America, Ameritas Life Insurance Corp. and TruStage. Ethos offers two products: term life insurance and whole life insurance for seniors.

Ethos’ term life insurance is available to those aged 20 to 65, with benefit amounts between $20,000 and $2 million and term lengths of 10, 15, 20 and 30 years. Term life insurance policies can be renewed up to age 80.

Whole life insurance is available only to those aged 66 to 85, meaning it essentially acts as final expense insurance. Benefit amounts range from $1,000 to $30,000. Ethos offers guaranteed issue for whole life insurance policies, so anyone who meets the standards is guaranteed to be approved for coverage.

Ethos' policies are available to applicants regardless of credit score, health status, smoking habits or number of children. In addition, the company doesn’t require a medical exam for anyone, which is uncommon among providers. Applicants simply need to answer several health-related questions online to receive coverage. Those who prefer a fully underwritten policy have the option to apply via a more thorough application.

TABLE OF CONTENTS

Key Takeaways

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Ethos’ term life policy options range from 10 to 30 years and are best suited to those aged 25 to 65.

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Seniors looking for final expense insurance can opt for Ethos’ whole life insurance, which comes with guaranteed approval for those aged 66 to 85 and doesn't require medical exams.

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Ethos does not require a medical exam for any of its policies, regardless of health status, and offers a simple online application process.

Ethos Policy Options Explained

Life insurance is a key part of securing your dependents’ financial future — according to the Life Insurance Marketing and Research Association's (LIMRA) 2022 Insurance Barometer Study, 68% of insured U.S. adults with financial dependents feel financially secure. Ethos makes finding a life insurance policy simple with its two streamlined offerings: term life insurance and whole life insurance for seniors.

Term Life Insurance Options From Ethos

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    Term life insurance is the most affordable life insurance product that Ethos offers. It provides coverage for a set period of time, which can be either 10, 15, 20 or 30 years. In the event of the policyholder's death during the term period, their beneficiaries would receive the policy benefit amount, which can be anywhere from $20,000 to $2 million.

    Ethos does not require any medical exams for their term life policies — applicants only need to answer a few health-related questions online — and most of their term policies are simplified issue, allowing for same-day approval and coverage in many cases. Those looking for lower premiums or higher death benefits can apply for fully underwritten policies, which involve a slightly longer process.

    If you aren’t happy with your policy, the company offers a 30-day money-back guarantee and no cancellation fees. In addition, all term life policies come with a free will and estate planning tools, and coverage starts after your first payment. Once the term ends, policyholders have the option to extend coverage, get a new policy with different coverage amounts or simply let the policy expire.

Ethos’ term life insurance policies are great options for people between 20 and 65 years old with beneficiaries who will lose income to pay for expenses like mortgages, loans or tuition if they pass away. Since term insurance is generally more affordable than other types of life insurance, it's also a good choice for those on a budget.

Final Expense Insurance Options From Ethos

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    Ethos’ whole life policies are geared toward seniors, serving as a final expense insurance option for older people who wish to help their loved ones cover costs like burial expenses once they pass away.

    Applicants between the ages of 66 and 85 are offered guaranteed approval in minutes — regardless of their health status. Ethos does not require a medical exam for their whole life policies and instead allows applicants to answer several health-related questions online. Depending on their responses, they may be asked to respond to certain follow-up questions.

    Available benefit amounts range from $1,000 to $30,000, and premiums won’t change throughout your lifetime. When you turn 100, your coverage remains without the need to pay premiums.

    After the first payment, coverage starts immediately. If you aren’t happy with your policy within the first 30 days of applying, you can cancel and get your money back.

Ethos’ whole life or final expense insurance is best for seniors who want to relieve loved ones of the burden of paying their final expenses. Additionally, it is a good option for those with small coverage needs or health concerns.

Ethos’s Life Insurance Riders

Life insurance riders are extra benefits that can be added to your life insurance policy to fill in gaps or ensure more stability for your loved ones. Ethos does not offer many riders as it aims to keep its policies straightforward. However, it does offer the following at no additional cost:

Rider
Description

Accelerated Death Benefit

Also referred to as a terminal illness rider, it enables policyholders to receive an early payout if they
are diagnosed with a terminal illness.

How to Get Ethos Life Insurance

Getting a life insurance policy from Ethos takes just a few steps, and many applicants are approved right away. Here's what to keep in mind as you move forward with the purchase process.

How to Buy Life Insurance From Ethos

  1. 1

    Do Your Research

    Before signing up for any policy, it’s important to check out other options. Look into other providers and determine if they offer the type of coverage you need.

  2. 2

    Compare Quotes

    After narrowing down a few other providers you like, get quotes from each. At Ethos, you can get quotes in minutes through its website. Simply fill in their form to get started.

  3. 3

    Health Check

    Then it's a matter of completing your application and undergoing a health check (if necessary). The latter usually involves a phone interview and an in-person medical exam. You may have to provide additional information so an underwriter can complete a risk assessment.

  4. 4

    Approval

    If you decide on Ethos, you can complete your application entirely online. Once submitted, you need to wait for approval, which can be instant but may take up to a few days, depending on the information you entered. If you’re satisfied with the terms, you can activate your coverage immediately after your first payment.

What to Do if Ethos Insurance Denies You Coverage

Ethos prides itself on its simple application and underwriting process, so it is relatively unlikely to deny coverage, but it's not impossible. If you find that your application has been denied, there are several steps you can take.

  1. 1

    Contact Your Broker

    The first course of action is to contact the company directly and ask for more information about why you were denied.

  2. 2

    Lifestyle Changes

    If the reason is within your power to address, that's a great place to start. For example, if your application was denied due to concerns about your health, consider making some changes to your lifestyle. Once your health has improved, you can try applying again.

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    Explore Other Options

    Finally, you can always explore other options. There are many insurance companies and policy types available. For example, if you're unable to get a fully underwritten policy from Ethos, you may still qualify for a simplified issue policy. However, you should be prepared to pay higher premiums for lower benefit amounts.

Frequently Asked Questions About Ethos Life Insurance

Find answers to common questions about Ethos life insurance to help you determine whether it’s the best option for you.

Can you borrow from your Ethos life insurance policy?

What’s the maximum amount of life insurance coverage available from Ethos?

Do life insurance policies from Ethos pay dividends?

Can you get life insurance from Ethos if you have cancer?

Do life insurance policies from Ethos cover death by drug overdose?

Do life insurance policies from Ethos cover death by suicide?

About Mark Fitzpatrick

Mark Fitzpatrick headshot

Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.

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