Ethos Life Insurance Review 2022 – Forbes Advisor - Forbes

Types of Life Insurance Sold by Ethos

Ethos term life insurance

Term life insurance is an option for people seeking steady rates for a level term period.

Ethos offers no-exam term life insurance with coverage up to $2 million for buyers up to age 50. The level term length options are 10, 15, 20 or 30 years. This term policy is renewable up to age 94, but the death benefit will be reduced with each renewal.

Ethos also offers traditional term life insurance that is fully underwritten (requires a medical exam) for customers seeking higher coverage amounts.

Ethos whole life insurance

For people looking for a lifelong insurance policy, whole life insurance is an option.

Ethos whole life insurance is available to people ages 66 to 85 and offers guaranteed approval. There are no medical exams required for coverage amounts from $1,000 to $30,000. As long as you pay the required premiums, Ethos' whole life insurance lasts for your lifetime.

Some of Ethos' whole life policies issued by AAA Life Insurance Co. have a graded death benefit. This is a common feature of guaranteed issue life insurance. With graded death benefits, your beneficiaries may only get a refund of premiums paid, plus interest, if you die from something other than an accident during the first few years after buying the coverage.

Related: Best life insurance companies

Ethos No-Exam Life Insurance Rates

Here's a look at Ethos's no-exam term life insurance rates for various ages and amounts.

Ethos 20-year no-exam term life insurance rates by age and amount

CoverageAge 30, annual rateAge 40, annual rateAge 50, annual rate
$500,000 term life insuranceMale: $240
Female: $192		Male: $420
Female: $324		Male: $984
Female: $792
$1 million term life insuranceMale: $432
Female: $300		Male: $732
Female: $576		Male: $1,848
Female: $1,488

Ethos 20-year no-exam life insurance rates compared to competitors

Ethos's no-exam life insurance rates are often lower than top competitors.

20-year term life insurance for a 40-year-old femaleEthosBrighthousePrudentialLadder
$500,000 term life insurance$324 a year$285 a year$475 a year$460 a year
$1 million term life insurance$576 a year$490 a year$725 a year$825 a year

Ethos Company History

Ethos was established in 2016 after one of its founders, Lingke Wang, bought an expensive life insurance policy he couldn't afford, simply because he did not understand life insurance. Wang later joined forces with Peter Colis to create a life insurance agency that simplified the application process so that more people could get coverage, regardless of their life insurance education level or health status.

Ethos is an insurance agency that sells life insurance from companies such as AAA Life Insurance Co., Ameritas Life Insurance Corp., Legal & General America and TruStage Financial Group.

Ethos Life Insurance Quick Facts

  • Headquarters: Austin, Texas
  • Established in 2016
  • Sells term life and whole life insurance

Methodology

We scored companies based on these measurements:

Price (50% of score): We averaged the no-exam life insurance rates for males and females in excellent health at ages 30, 40 and 50 for $500,000 and $1 million and a term length of 20 years.

Maximum face amount for lowest eligible age (10% of score): Companies with higher no-exam life insurance coverage amounts for the lowest age earned more points. Note that maximum no-exam coverage can sometimes become lower if you apply at a higher age.

Age eligible for best length/amount (10% of score): Companies offering no-exam life insurance to folks over age 50 earned extra points.

Accelerated death benefit available (10% of score): This important feature lets you access part of your own death benefit in the event you develop a terminal illness

Option to convert to a permanent life insurance policy (10% of score): This is a good option to have in place if you decide you want a longer policy, especially if your health has declined and you don't want to shop for new life insurance.

Guaranteed renewals (5% of score): This option lets you extend the coverage after your initial level term period has expired, such as at the end of 10, 20 or 30 years. Renewal rates can be significantly higher, but renewing can provide extended coverage to someone who may no longer qualify for a new life insurance policy because of health.

Median time from application to approval (5% of score): We gave more points to companies with lower no-exam life insurance approval times.

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Ethos Life Insurance Review 2022 – Forbes Advisor - Forbes

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