Ethos' Whole Life Insurance Offer: Is It Worth It?

Ethos offers whole life insurance to people aged 65 to 85. This policy is guaranteed issue, meaning that applicants are approved instantly regardless of their health history. Coverage amounts range from $1,000 to $30,000, and the policy lasts for the rest of the insured's life as long as they continue to pay the required premiums. Ethos's whole life insurance is underwritten by AAA Life Insurance Company, which has strong financial strength ratings.

Ethos' Whole Life Insurance Policy Details

Ethos offers whole life insurance with guaranteed approval for those aged 65 to 85. The coverage range is between $1,000 and $30,000, and the rate is guaranteed to remain the same throughout the policy. This policy is offered by AAA Life Insurance Company and is designed to last for the rest of your life.

Whole life insurance is a type of permanent life insurance, which means it is designed to last for the entirety of the policyholder's life, rather than a fixed term. Whole life insurance policies tend to be more expensive than term life insurance policies, but they also offer additional benefits, such as the ability to build up cash value over time. This cash value can be used to supplement retirement income or cover unexpected costs.

Ethos' whole life insurance policy offers guaranteed approval, with no medical exams required. The application process is entirely online and can be completed in a matter of minutes. Once the first payment is made, coverage begins instantly and lasts for the policyholder's whole life, as long as premiums are kept up with.

The policy includes a graded death benefit, which means that if the policyholder dies from a non-accidental cause within the first two years of coverage, the beneficiaries will receive 100% of the premiums paid, plus an additional 30%. After two years, the full benefit amount is payable, regardless of the cause of death.

Ethos' whole life insurance policy also includes a double death benefit, which applies from the third policy year onwards. In the case of a covered travel-related accident, the death benefit will be 200% of the policy amount.

Ethos Whole Life Insurance: Pros and Cons

Ethos offers whole life insurance to people aged 66 to 85, with guaranteed approval and no medical exams required. The coverage lasts a lifetime as long as the premiums are paid, and the rate is secured and never increases. The policies range from $1,000 to $30,000 and are available in all states except New York.

Pros

• Ethos' whole life insurance is ideal for those aged 66 to 85, guaranteeing coverage regardless of health history.
• The application process is simple and instant, with no medical exams or health questions.
• The policy builds cash value automatically, which can be used for emergencies or retirement income.
• Coverage is lifelong as long as premiums are paid, and the rate never increases.
• The policy has a graded death benefit, which means beneficiaries receive full coverage for accidental deaths and a refund of premiums plus interest for non-accidental deaths within the first two years.
• Ethos has excellent ratings from customers and third-party reviewers, including an "Excellent" rating from Trustpilot and an A+ rating from the Better Business Bureau.

Cons

• Ethos' whole life insurance is more expensive than other types of coverage due to the guaranteed approval.
• The coverage amount is lower compared to other policies, ranging from $1,000 to $30,000.
• The policy cannot be customized with riders, which may be a limitation for some individuals.
• Ethos does not offer a live chat feature, which is unusual for insurtech companies.
• The whole life insurance is only available to those aged 66 to 85, so younger individuals will need to look elsewhere.

Who is Eligible for Ethos' Whole Life Insurance?

Ethos offers guaranteed whole life insurance to US citizens and permanent residents aged 65 to 85. This policy is available to applicants regardless of their health history, with no medical exams required.

Ethos' whole life insurance is designed to be a simple, quick way to get coverage. Applicants are guaranteed approval in a matter of minutes, with no health questions or medical exams necessary. Coverage is immediate upon making the first payment and lasts the whole life of the policyholder, provided they keep up with the premiums.

The policy builds cash value automatically, which can be used for emergencies or to supplement retirement income by taking a policy loan. However, outstanding policy loans will decrease the amount of the death benefit paid to beneficiaries.

The monthly rate for this policy is determined by the applicant's age and gender, and the coverage amount chosen. The final rate is the same as the quote, and it will never increase as long as payments are maintained.

Ethos is licensed and operates in 49 US states and the District of Columbia, excluding the state of New York.

How Much Does Ethos Whole Life Insurance Cost?

Ethos offers whole life insurance with guaranteed approval for those aged 65 to 85, with no medical exams required. The company also offers whole life insurance for those aged 50 to 85. The policies range from $1,000 to $30,000 and feature a secure rate that never increases, covering the policyholder for life. The monthly rate for this policy starts as low as $14 a month, depending on certain factors. Ethos also offers term life insurance (ages 20-65) with term length options ranging from 10 to 30 years and coverage amounts from $20K to $2 million, depending on eligibility.

Whole life insurance is a permanent form of life insurance that is designed to last for the rest of the policyholder's life, providing a guaranteed payout for their loved ones. It is a good option for those who want coverage for their entire lives, want a policy that builds cash value over time, and want to invest for long-term benefits. Whole life insurance policies typically cost 5-15 times more than term life insurance policies for the same amount of coverage.

The cost of whole life insurance is determined by the policyholder's age, gender, and the coverage amount chosen. Ethos's whole life insurance policies are more expensive than other types of coverage because the policyholder is guaranteed to be approved, regardless of their health or medical history. The quote received is the same as the final rate, and this rate is guaranteed never to increase as long as premiums are paid when due.

Ethos's whole life insurance policies include a graded death benefit, which means that if the policyholder suffers a non-accidental death within the first two years of coverage, their beneficiaries will receive 100% of the premiums paid plus 30%. After two years, the full benefit amount is payable for death due to any cause. The policy also includes a double death benefit, which means that beginning in the third policy year, the benefit will be 100% of the policy (minus any outstanding loans/premiums and debt), unless the death is caused by a covered travel-related accident, in which case the death benefit would be 200% of the policy.

How to File a Claim with Ethos

Ethos offers whole life insurance with guaranteed approval for those aged 65 to 85, with no medical exams required. Their policies range from $1,000 to $30,000 and feature a secure rate that never increases, covering you for life.

To file a claim with Ethos, the beneficiary named on the policy must contact the insurance company. The beneficiary must complete all the claim requirements to receive the benefit amount. The insurance company will assist the beneficiary with the claim process.

Beneficiaries may be able to choose between receiving the death benefit over time or as a lump sum payment. Refer to your specific insurance policy for details regarding all possible settlement options available to your beneficiaries at the time of claim processing.

For Ethos' specialty insurance clients, Ethos has a team of dedicated claims professionals who assist their clients during their time of need. They work closely with their underwriting colleagues, brokers, agents, and insureds to achieve the most effective claims outcomes.

You can contact Ethos' claims team at [email protected].

Frequently asked questions