Ethos Life Insurance Review [2024] Pros and Cons

The U.S. accounts for almost 40% of the world market share in the global insurance industry. So, in America, insurance is big business!

But it can be tough for consumers to navigate such a massive, complicated industry. 

That’s why newer companies are stepping in to simplify things – companies like Ethos.

Ethos is a life insurance company that doesn’t require medical exams and allows you to apply online. 

Sounds great – but is it legit?

It is! And in this Ethos life insurance review, I’ll tell you exactly how it works. 

What is Ethos Life Insurance?

Ethos is a life insurance provider that doesn’t require a medical exam or blood test to get coverage. That makes it a great option for anyone who wants to take the hassle out of the life insurance application process. 

In many ways, Ethos is a typical life insurance provider. The general idea is simple. You pay a monthly premium for the insurance, and then Ethos will give money to your chosen beneficiaries if you die. 

Ethos offers two different types of life insurance:

1. Term life insurance (ages 20-65) – The policies last 10-30 years and can cover between $20,000 and $2 million.
2. Whole life insurance (ages 66-85) – The policies last for the entire life of the policyholder and pay out between $1,000 and $30,000.

Founded in 2016, Ethos brings a modern mindset to the life insurance industry. The streamlined application process happens entirely online, and you can even get coverage in a single day. 

Sure, you lose the potential for in-person interactions with an agent, but in exchange, you get some serious ease and convenience! And despite the digital model, Ethos’s customer service generally gets rave reviews.

How Does Ethos Life Insurance Work?

It’s time for this Ethos life insurance review to walk you through the application process.

You can apply for Ethos life insurance online in three simple steps:

• Step 1: Get a quote. After answering just a few simple questions about your health and habits, you can see what policy options are available to you.
• Step 2: Apply. The online process is super simple and takes as little as 5 minutes.
• Step 3: Activate your coverage. Ethos will process your application quickly and show you your rates and eligibility. Once you confirm your choice, your coverage will start right away.

To be able to apply, you must be a U.S. citizen between the ages of 20 and 85. Also, make sure you have the following documents on hand:

1. A driver’s license
2. Your social security number
3. Medical history (personal and family)
4. Current prescriptions 

*Note: Ethos is not licensed to operate in the state of New York. 

If you pass away while covered, your beneficiaries will receive the promised amount as an untaxed lump sum. 

So, let’s say your policy has $80,000 in coverage. If you have a single beneficiary, that person will file a claim with Ethos when you die. Then, they’ll receive the $80,000 all at once.

Is Ethos Life Insurance Legit?

Ethos Life is a completely legitimate company with headquarters in Austin, Texas. And it’s received over $400 million in funding, which means investors see promise in the company’s business model!

Ethos also works with reputable carriers, including:

• Legal & General America
• TruStage
• Ameritas Life Insurance Corp.
• Mutual of Omaha

As a licensed third-party administrator, Ethos just handles the logistics. The carriers provide the actual insurance – and they’re all totally trustworthy!

Is Ethos Life Insurance Safe?

Using Ethos life insurance is completely safe. Why do I say that? Because the company consistently gets positive reviews from customers.

Ethos has 4.8 stars on the review site Trustpilot, and it gets 4.6 stars from reviewers on Consumer Affairs. I don’t think those numbers would be possible if the company was in the habit of ripping people off!

Of course, it’s still your responsibility to decide whether life insurance from Ethos is the right choice for you and your family. But when it comes to the integrity of the company, you have nothing to worry about.

Pros and Cons of Ethos Life Insurance

This Ethos life insurance review aims to give you the complete picture – so here are the pros and cons to weigh as you consider applying. 

Pros

• Fast application process. You can apply for Ethos in just a few minutes and get coverage the same day.
• No medical exam is required. That means you can get the coverage you need without going through any awkward prodding and probing!
• Works with reputable insurance carriers. Ethos might be a newer insurance administrator, but the policies it provides are backed by big names in the industry. 

Cons

• Term insurance is only available up to age 65. Some life insurance companies offer term insurance to people in the 66-75 age bracket, but not Ethos. 
• Whole life insurance is only available from ages 66-85. Some other companies offer whole-life coverage to younger folks.
• Few available riders. A “rider” can help you customize your coverage. Ethos offers very few of them – which lowers costs, but also limits your options. 

Ethos Life Insurance Reviews

Ethos life insurance gets a lot of positive reviews on Trustpilot. That’s why its average rating is 4.8 stars!

In a 5-star Ethos life insurance review, someone raved about the convenient application process and the fantastic customer service.

One customer left a 4-star Ethos life insurance review, saying the one flaw was that their policy details weren’t visible in the Ethos app. That’s because policy documents have to be downloaded from the Ethos Member portal online. Inconvenient? Sure – but it shouldn’t be a dealbreaker! 

Of course, not every Ethos life insurance review is positive. No company is perfect!

One customer complained they were charged their premium even after trying to cancel their policy. They were promised a refund, but the experience was still frustrating.

In a 1-star Ethos life insurance review, a user complained that they couldn’t get in touch with an agent after noticing an error in their policy. This shows that even when a company offers excellent customer service, some customers can still fall through the cracks.

Ethos Life Insurance Reviews Reddit

On Reddit, a new mother asked about getting life insurance from Ethos. Her husband liked the idea of avoiding a medical exam, but she was worried that the company might not be legit.

Someone responded by explaining that lots of insurance companies don’t require medical exams. The person also explained how Ethos works with separate carriers to provide their insurance.

And another person assured the original poster that a policy without a medical exam isn’t inherently worse than other policies.

Ethos Life Insurance Review BBB?

Ethos used to be accredited by the Better Business Bureau (BBB), but its accreditation was recently suspended for reasons undisclosed.

Alarming? Maybe a little. But the suspension doesn’t mean Ethos has lost its BBB accreditation for good. It just means the BBB Board of Directors will consider the issue at its next meeting.

And considering Ethos’s strong reputation, it seems likely that the BBB will restore the company’s accreditation.  

Is Ethos Life Insurance Worth It?

Ethos life insurance is definitely worth it for lots of people. Let’s say you need life insurance ASAP, and you don’t have the time for a medical exam or a drawn-out application process. With Ethos, you can apply in just a few minutes and get coverage the very same day.

Ethos is also a great option for anyone who wants simple coverage at a fair price. There aren’t many riders available with an Ethos policy. That limits your options, of course, but it also allows Ethos to offer competitively priced premiums.

Now, there are some people who shouldn’t consider Ethos life insurance. If you want whole life insurance and you’re younger than 66, Ethos doesn’t offer the coverage you’re after. And if you’re looking for term life insurance over the age of 65, you’re also out of luck.

But if you fall into the right age bracket and qualify for the insurance you’re after, Ethos is an affordable option – and with great customer service, too!

Commonly Asked Questions About Ethos Life Insurance

What are Alternatives to Ethos Life Insurance?

Ethos isn’t the only company providing online access to life insurance. Other options include:

• Ladder (read full Ladder life insurance review here)
• Haven Life (read full Haven Life insurance review here)
• Walnut (read full Walnut life insurance review here)
• Everyday Life (read full Everyday Life insurance review here)
• Fabric (read full Fabric life insurance review here)

Is Ethos Life Insurance a Scam?

Ethos life insurance definitely isn’t a scam. It’s a reputable company that’s received over $400 million in funding, and it works with major carriers to offer trustworthy policies. Ethos also gets great reviews from customers and averages 4.8 stars on Trustpilot. 

What is The Catch With Ethos Life Insurance?

There is no “catch” with Ethos life insurance. The company has a great reputation, and its policies are legit. The only thing to be aware of is that there aren’t many options for insurance riders. In layman’s terms, that means you don’t have many chances to customize your coverage. 

Is Ethos Credible Life Insurance?

Ethos is absolutely a credible company for life insurance. It acts as a third-party administrator, meaning it doesn’t actually provide insurance itself. Instead, it sets customers up with policies from insurance carriers – and the carriers it works with are 100% legit. 

Does Ethos Pay Out Life Insurance?

Ethos is a legitimate life insurance company, and its policies are provided by reputable carriers like Legal & General America and TruStage. That means you can trust Ethos to pay out as promised.

Who is Ethos Life Insurance Backed By? 

Ethos offers life insurance policies through these reputable carriers:

• Legal & General America
• TruStage
• Ameritas Life Insurance Corp.
• Mutual of Omaha