Ethos leverages predictive analytics and modern technology to streamline the life insurance application process for applicants – many won’t require a medical exam!
The company uses algorithms derived from your vehicle records and prescription history to assess eligibility and set rates. They also offer riders that increase death benefits or cover certain events.
Term Life Insurance
Ethos Life takes an efficient approach to life insurance, working with top insurers for an online application process and eliminating medical exams altogether. Their website’s easy interface asks questions about your lifestyle and goals to help determine how much coverage is necessary; once that has been determined, term length options and instant quotes will be displayed instantly.
Guaranteed whole life policies from this company are available to people ages 66-85 in 49 states (except New York ). Similar to traditional term life insurance policies, guaranteed whole life policies build cash value and are automatically renewed each year – without needing medical exams and health questions as per traditional term life. Applicants typically get approved without one.
Ethos offers riders that cover mortgage payments should you default and final expenses related to terminal illness; additionally they provide free one-year membership of Legacy Assurance which offers discounts for funeral costs.
Ethos’ life insurance offerings differ from other life insurers by selling policies through third-party providers such as Legal & General America, Ameritas and TruStage – this means you lack negotiating power compared with dealing directly with an insurer; however these providers are all established insurers with A.M. Best ratings above industry average and low complaint ratios according to NerdWallet research.
Whole Life Insurance
Ethos offers permanent whole life insurance policies with no expiration dates, making the coverage permanent and never-expiring. Their website features a calculator to help users determine how much coverage is necessary; thereafter they are matched up with policies tailored specifically for their goals by one of four carriers: Legal & General America/Banner Life, Ameritas life Insurance Corp, Senior life Insurance Company and TruStage Financial Group who boast excellent financial standings as well as low consumer complaint volumes according to NerdWallet analysis.
Ethos’ whole life policies offer an accelerated death benefit rider at no additional cost, allowing policyholders to tap into some of their face value to cover medical expenses while they’re alive. Typically this policy doesn’t require medical exams and can be purchased by buyers aged 20-65; guaranteed issue whole life policies are available for seniors between 66 and 85.
Ethos Insurance launched as an insurtech in 2016, yet has quickly established a loyal customer following due to its straightforward application process, often bypassing medical exams required by other insurers. Furthermore, Ethos offers an innovative online quoting experience which uses data points such as motor vehicle records, family medical history records and current drug prescriptions as an indicator of health rather than simply traditional medical tests alone.
Life Insurance for Pre-Existing Medical Conditions
Ethos Life Insurance Company utilizes predictive modeling and proprietary technology to streamline their application process for clients, leaving actual insuring to industry giants such as Legal & General America, Ameritas and TruStage(tm). They have paid out billions in claims.
Ethos’ website offers an online calculator to help determine how much coverage is right for you and to launch the application process. The application covers standard questions related to financial dependents and debt as well as health history (i.e. if a smoker), your sex at birth (if applicable), family medical history (if relevant) as well as blood pressure and cholesterol readings from an existing policy (which will not require medical exams).
The company provides simplified issue term policies without medical exams that can be approved quickly in as little as 10 minutes, making this type of policy perfect for young buyers who do not want to talk with agents or undergo physical exams. This type of plan provides buyers with a stress-free buying experience without needing an agent and taking time out for medical exams.
Ethos also offers whole life insurance policies to individuals ages 66 to 85 without requiring a medical exam, with policies offering up to $2 million in death benefits and premiums that will increase over time. Unfortunately, as Ethos doesn’t underwrite its own policies it doesn’t have a rating from either A.M. Best or NAIC; customer reviews instead tend to focus on how well claims and payments are handled by Ethos.
Final Expense Insurance
Ethos offers several types of final expense policies designed to cover funeral and other unanticipated costs, such as those related to terminal illness coverage or accidental death benefits. Depending on the policy you purchase, additional riders such as accidental death benefits or terminal illness coverage may be available at additional costs; some even come equipped with free wills and estate planning tools for added peace of mind.
The company provides an easy online application process that usually does not require medical exams, though your eligibility will ultimately depend on what underwriters discover in your driving and motor vehicle records, electronic medical records, or other sources of data. If they think you may have serious health conditions they could request an exam or deny coverage altogether.
Legal & General America, Ameritas Life Insurance Corporation, and TruStage provide this company’s policies; however, due to outsourcing their underwriting process, your experience will largely depend on which insurer you end up working with. Therefore, it’s vital that you shop around before making a decision; use an online life insurance calculator and look at Bankrate’s Life Insurance Complaint Index which measures complaints received against market share as you make comparisons.
