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Life insurance is a type of financial protection that can offer peace of mind in knowing your loved ones will have a source of income if you were to pass. An online life insurance broker, Ethos Life is notable for its easy online application process and instant term life insurance policies that require no medical exams or blood tests. Ethos also offers whole life insurance policies for people who are 65 years or older.
We at the MarketWatch Guides team have prepared a guide to help you learn more about Ethos Life insurance and how coverage stacks up against top life insurance providers based on cost, coverage and customer satisfaction.
Pros and Cons of Ethos Life Insurance
How Ethos Scored in Our Methodology
When we analyzed Ethos using our provider review methodology, the company scored 4.5 out of 5 stars. It scored particularly high in areas of brand trust and coverage options.
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Life Insurance Rating
Ethos Life Insurance Overview
Overall, we give Ethos Life a rating of 4.5 out of 5 stars. The insurer earned points for its online application process, term life coverage, and added benefits of including free will and estate planning tools with eligible policy purchases. It offers instant term life coverage that does not require a medical exam or blood testing — applicants only need to answer a few health questions.
However, Ethos Life is not clear about the policy upgrades and riders it offers, which can make it a less viable choice if you also need terminal illness or accidental death add-ons. Its age cutoffs, especially for whole life policies, are also strict and can make coverage less valuable for younger customers shopping for permanent life insurance.
Ethos Cost vs Competitors
The above quotes were collected using a secret shopping process, are an average of a $500k policy for both men and women at the desired age range and assumes that the buyer does not use tobacco.
Types of Life Insurance Offered
Life insurance is a type of financial protection that provides a payout to your named beneficiaries, who may include loved ones, business partners or anyone else if you die while the policy is active. While life insurance might cost as little as $10 per month, it can offer a substantial payout to help your loved ones with outstanding bills or funeral expenses should you die.
In our Ethos life insurance review, we found the company offers options for both term and whole life insurance coverage. Notably, Ethos is one of the few life insurance companies that does not require a medical exam for all customers, a benefit for anyone searching for convenient coverage. However, its whole life insurance has a qualifying age limit of 66 to 88 years old.
Term Life Insurance
Term life insurance is a type of life insurance that pays out a death benefit if you pass away within a policy’s specified term. Most term life insurance policies last between 10 and 30 years, with the top rated term life insurance providers offering additional customization options and riders.
Term life insurance policy options from Ethos come with death benefit choices between $100,000 and $2 million. Term lengths range from 10 to 30 years, and you can get a free pricing estimate online after entering a few personal details. The Ethos term life application process also allows you to skip the sometimes-required medical exam portion, regardless of your age or reported health status, by just answering a few health questions.
Whole Life Insurance
Unlike a term life insurance policy, whole life insurance does not include a specific term and remains in effect so long as you pay your premiums. Whole life insurance policies also include a cash value investment portion, which policyholders are often able to access through withdrawals and collateralized loans while still alive. This makes whole life insurance both a financial protection and an investment vehicle for the future.
Permanent life insurance policy death benefits from Ethos Life range from $5,000 to $30,000. This is lower than competing whole life insurance providers and than the company’s term life insurance products. Applicants must be between the ages of 66 to 85 to qualify for whole life coverage with Ethos Life.
Lower death benefits are likely associated with Ethos Life’s entirely online application process. Unlike most life insurance coverage providers offering whole life benefits, you do not need to undergo a medical exam at a doctor’s office to be approved for coverage. After answering a few simple questions about yourself and your health history, you’ll receive a decision on eligibility. If the price looks right, you can complete your life insurance application online and sign onto coverage — no medical exam required.
Read more: Top whole life insurance policies
Will and Estate Planning
While Ethos Life does not offer independent will creation and estate planning, it includes free will when you purchase life insurance through its network. After purchasing your life insurance, you have the option to connect with a life insurance agent to access a full suite of estate planning tools valued at more than $400. Though this benefit is not a perk you can purchase independently, it is a nice bonus for customers looking for a one-stop shop for their estate planning needs.
Ethos Life considers the following factors when determining your life insurance policy cost:
- Type of insurance: Ethos Life offers multiple types of life insurance, with the likelihood of a payout varying between products. As a general rule, you can expect to pay more for whole life insurance, which is valid for the life of the insured so long as premiums are paid. When shopping for term coverage, you can expect to pay more for policies with a longer term length.
- Your health: While you do not need a medical exam to get a policy from Ethos Life, you may need to answer a few questions about your health and medical history. If you’re in excellent health and avoid using nicotine, you should be able to access the best rates.
- Your age: As you age, the likelihood that you could die unexpectedly increases. As a result, older people will pay higher rates for life insurance than younger people. If you know you want whole life insurance coverage, we recommend getting life insurance quotes early, as you can often lock in a lower rate by purchasing coverage when you’re younger. Term life insurance rates tend to increase every time you renew your policy because you’ve gotten older.
- Coverage amount: When you sign up for life insurance, you will choose a coverage amount for your beneficiaries to receive if you pass away. The higher your policy death benefit, the more you will pay for insurance.
- Your credit: Ethos Life requests that you estimate your credit score on your application and reserves the best rates for those with higher credit scores.
- ZIP code: Your location plays a role in the type of insurance coverage providers can legally provide. Coverage options you can purchase through Ethos Life might vary depending on your location.
To help you get a better idea of what you might pay for life insurance coverage from Ethos Life, we requested a series of sample quotes using the company’s online application. Here is what you might expect to pay for coverage each month based on the type of policy and your age:
| Policy Type | Age Range | Term Length | Monthly Estimate |
|---|---|---|---|
| Term life with a $100,000 death benefit | 25–34 years old | 10 years | $8–$11 |
| Term life with a $100,000 death benefit | 25–34 years old | 30 years | $12–$19 |
| Term life with a $1 million death benefit | 35–44 years old | 15 years | $58–$102 |
| Term life with a $1 million death benefit | 35–44 years old | 30 years | $121–$226 |
| Whole life with a $5,000 death benefit | 65–70 years old | Not available | $43–$75 |
| Whole life with a $12,500 death benefit | 80–85 years old | Not available | $196–$354 |
Ethos Customer Reviews
Customer satisfaction reports and testimonials via third-party review providers can give you insights into the services and care you’ll receive from an insurance company. Overall, Ethos Life maintains positive online reviews. The company maintains an average rating of 4.7 out of 5 stars on Trustpilot and a 4.6 out of 5-star rating on the company’s Better Business Bureau (BBB) profile. As of October 2023, Ethos is BBB-accredited and maintains an A+ rating. Ethos also has a AM best score of A (Excellent)
Most customer reviews of Ethos Life praise the company’s streamlined online process. Policyholders also mentioned the knowledgeability and courteousness of Ethos Life representatives that helped mitigate claims during a tough emotional period for planholders. However, some customers reported dissatisfaction with company communication and felt the life insurance plans Ethos offered were overpriced.
“I needed a term life insurance policy without the hassle of interviews, medical exams, etc. I shopped around for reasonable rates [and] wanted same-day coverage. Ethos made these things easy for me. I like the simplicity of its member portal and the included tools for estate planning. Documents are automatically filled in for review and available for downloading and record-keeping once completed. It’s too easy.”
—Brian via Trustpilot May 2024
“I was able to find double the coverage I currently had for $5 less per month! It literally took minutes and no medical exam. The rep called me as I was wrapping things up and she was so nice and knowledgeable. I’m a licensed life insurance agent and she knew way more than myself.”
—Ryan via Trustpilot May 2024
“Immediately after enrolling in my policy, I noticed there was an error. I tried reaching out to someone immediately and for an entire week since no emails [have been] returned, no voice messages returned and reaching a person got me, ‘I have made a note, someone will call you back.’ No word and my policy is still incorrect. If this is not addressed soon, I will be canceling.”
—David A. via Trustpilot May 2024
“If you’d like to be massively over-charged for life insurance, because you didn’t want to have an exam, and also have your contact info shared with dozens of companies, by all means, proceed with Ethos Life.”
—Anonymous customer via Trustpilot May 2024
Compare Ethos Life Insurance with Other Providers
Overall, Ethos stands out thanks to its easy online application process compared to competing life insurance providers, especially those that offer term and whole life insurance policies like Fidelity. Here’s how Ethos compares with other top life insurance providers:
| Insurance Provider | Policy Types Offered | Term Limits | Term Life Coverage Limits | Whole Life Coverage Limits | Best For |
|---|---|---|---|---|---|
| Ethos Life | Term, whole | 10–30 years | $100,000–$2 million | $1,000–$30,000 | Online applications |
| Fidelity Life Insurance | Term, whole | 10–30 years | $10,000–$2 million | $10,000–$150,000 | Accidental death coverage |
| Lemonade | Term | 10–30 years | Up to $1.5 million | Not available | Quick term coverage |
| Lantern Life | Term | 10–30 years | $100,000–$1.5 million | Not available | Term life policies |
Is Ethos Insurance Worth It?
Ethos is a legitimate and safe choice for life insurance policies, combining top financial strength ratings with various coverage options. The company offers instant term life insurance coverage without a medical exam or blood testing and includes free will and estate planning tools with eligible purchases.
However, eligibility for Ethos whole life policies is limited to people who are 66 to 88 years old, and death benefits are lower than some competitors. While Ethos may not offer the cheapest insurance, its whole life policies are easy to buy and do not require a medical exam. If you’re looking for permanent life insurance that includes an investment portion but think you could be rejected by traditional providers, an Ethos Life application can be a good place to start.
Frequently Asked Questions About Ethos Life Insurance
Underwriting for Ethos Life is provided by a mix of Legal & General America, Ameritas Life Insurance Corp and Mutual of Omaha. Each of these insurers features a minimum A- financial strength rating from AM Best, indicating the companies are in a good position to continue paying life insurance claims for the foreseeable future.
No. Unlike some other insurance agency options offering life insurance, you do not need to submit your Social Security number or your address to get an estimate from Ethos Life. Simply answer five general questions about your age and health status for an estimate of what you’ll pay for coverage. Life insurance rates may vary slightly after submitting your full application.
Ethos Life was founded in 2016 by Peter Colis and Lingke Wang, who set out to design an insurance application process that streamlines applications and underwriting. Today, Ethos Life operates as an insurance broker, connecting customers with term life and whole life insurance policies.
Term life insurance is a type of life insurance coverage that lasts for a specific amount of time, beginning when you buy your policy. If you die during the policy’s term, your beneficiaries receive a policy death benefit. Your beneficiaries can use this payout to cover final expense bills, outstanding debt or living expenses during the grieving process.
Methodology: Our System for Rating Ethos Life Insurance
Our goal at the MarketWatch Guides team is to provide you with comprehensive, unbiased recommendations you can trust. To rate and rank life insurance companies, we created a thorough methodology and analyzed each company by combing through online policy information, speaking to agents via phone, reading customer reviews for insight into the typical customer experience, and reviewing third-party financial reliability scores.
After collecting this data, we scored each company in the following categories: coverage, riders, availability and ease of use and brand trust. To learn more, read our full life insurance methodology for reviewing and scoring Ethos.
