Ashlyn Brooks is a finance writer with more than half a decade of experience, known for her knowledge in areas such as taxes, insurance, investing, retirement, finance news, and banking products.
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At a glance
Bankrate's take
Ethos life insurance may be the company of choice for policyholders who prefer a digital application process and want to avoid undergoing a physical exam for life insurance.
No medical exam required for many policies
Simplified online purchasing process
Free will and estate planning tools for policyholders
Policies underwritten by multiple major insurers such as Mutual of Omaha and Ameritas Life Insurance Corp.
New
What’s new with Ethos?
Ethos Life has partnered with insurance carrier Ameritas to launch a new indexed universal life (IUL) insurance product, according to a press release dated January 9, 2024. The policy, which became available to select Ethos partners back in September of 2023, offers potential tax-deferred cash value growth tied to an index like the S&P 500 while typically maintaining a guaranteed death benefit regardless of index performance. It also provides living benefit riders that may allow early access to a portion of the death benefit if the policyholder experiences a qualifying illness. A key differentiator is Ethos' streamlined digital process that could enable agents to quote, illustrate and issue the IUL policies entirely online through customized case design tools and algorithmic underwriting.
Ethos life insurance review
Ethos life insurance could be suitable for those seeking an online life insurance experience with a no-exam coverage option. Established in 2016, Ethos collaborates with life insurance companies like Ameritas Life Insurance Corporation, Mutual of Omaha and TruStage to provide both whole life and term policies. Customers are typically matched with a carrier based on their location, age and the type of policy they wish to purchase. Although Ethos may have a more limited range of offerings compared to other carriers, it stands out for its streamlined life insurance quoting process, which may bypass the medical exam required by some other insurers. However, applicants will still typically need to complete a health questionnaire.
When acquiring a life insurance policy, it's essential to explore the primary types of life insurance to determine the most suitable option for you. Term life insurance provides coverage for a specific number of years, making it a favorable choice for individuals and families with children who require coverage for a designated period. Conversely, permanent life policies are designed to remain in effect for the insured's lifetime as long as premiums are consistently paid. The cost of life insurance can fluctuate based on various factors, but generally, term life insurance is more affordable than permanent life coverage, particularly for young and healthy individuals.
As part of our Ethos insurance review, we analyzed the company's product offerings:
Term life: Term life insurance from Ethos is available in 10-, 15-, 20- and 30-year terms, with death benefit options ranging from $20,000 to $2 million. Eligibility is open to individuals between the ages of 18 and 69, and all term policies feature level premiums and are guaranteed renewable until the age of 80. Ethos offers two types of term life insurance: a simplified issue policy and a fully underwritten term policy. The first does not require a medical exam and could be ideal if you have health issues and want coverage instantly. The second does require a medical questionnaire but may also provide a higher death benefit up to the $2 million level.
Permanent life: Unlike term coverage, permanent life insurance stays in place until you pass away, assuming you continue to pay your premiums. While several types of permanent policies exist, Ethos only offers one: whole life insurance.
Whole life: Ethos' whole life insurance policies are geared toward older adults aged 66 through 85 who want to leave their loved ones with financial support or a financial gift. Accidental deaths are covered immediately. Other death benefits — like for illnesses or old age — apply within two to three years, depending on your eligibility and state requirements. AAA Life underwrites Ethos whole life policies.
Guaranteed life: Ethos' whole life policies are also considered guaranteed issue life insurance. Benefit amounts range between $1,000 and $30,000 with guaranteed level premiums, meaning your rate will not increase over the years.
Pros and cons of Ethos Life insurance
When considering an insurance purchase from Ethos Life, it's important to evaluate the pros and cons of the company's products and services. Like any provider, Ethos could have some appealing upsides but might also have certain limitations to be aware of.
Pros
Offers term and whole life policies
Simple online purchasing process
No medical exam required in many cases
Cons
Limited policy options
Riders will vary based on the underwriting company
Not the company that will handle your claim
Ethos life insurance riders
Although some Ethos policies may allow you to include life insurance riders, the company does not advertise a broad range of add-ons. The riders available to you will likely depend on your chosen policy type and the underwriting company you are paired with.
Ethos customer satisfaction
Ethos' reviews are generally positive, as are the reviews of the insurers with which it partners. One of Ethos' insurance partners, Mutual of Omaha, may be one of the best life insurance companies on the market, with a high customer satisfaction per J.D. Power’s 2023 U.S. Individual Life Insurance Study and strong financial strength ratings. However, it’s important to note that Ethos isn’t specifically rated by J.D. Power.
Ethos' life insurance policies are generated by a handful of highly rated insurers, including AAA Life, Ameritas Life Insurance Corporation, Legal & General America and TruStage. All are experienced underwriters featuring strong ratings from AM Best and Standard & Poor's (S&P). Keep in mind, though, that financial strength and service ratings will vary based on the underwriting company that you are placed with. You may want to consider getting a quote from Ethos and researching the specific underwriting company assigned to your potential policy.
Ethos insurance customer complaints
While Ethos itself doesn't receive direct scoring from the National Association of Insurance Commissioners (NAIC), the customer complaint data for the popular carriers that underwrite Ethos policies could provide some insight.
The NAIC complaint index measures the number of grievances an insurer receives relative to their market share. An index of 1.0 is considered the baseline, with scores above that indicating more complaints than average for that particular insurance product line.
It's important to note that the NAIC separates its complaint indexes by product type, like life insurance versus homeowners or auto insurance. This accounts for variations in complexity and claims frequency across different coverages.
Some of the major insurance companies that underwrite and issue Ethos life insurance policies include Ameritas Life Insurance Corporation, Mutual of Omaha and TruStage. Their individual NAIC complaint indexes, particularly for the life insurance segment, may offer reasonable insight into gauging customer satisfaction with Ethos policies.
Consumers can view each underwriting company's complaint indexes to evaluate whether they fall above or below the average mark. While not a definitive measure, this could help identify any potential red flags regarding unusually high volumes of dissatisfied customers for those carriers.
NAIC Complaint Index life insurance product
Line chart with 3 data points.
The chart has 1 X axis displaying Year. Data ranges from 2021-01-01 00:00:00 to 2023-01-01 00:00:00.
The chart has 1 Y axis displaying Score. Data ranges from 0.1 to 0.26.
End of interactive chart.
NAIC Complaint Index life insurance product
Line chart with 3 data points.
The chart has 1 X axis displaying Year. Data ranges from 2021-01-01 00:00:00 to 2023-01-01 00:00:00.
The chart has 1 Y axis displaying Score. Data ranges from 0.64 to 0.92.
End of interactive chart.
NAIC Complaint Index life insurance product
Line chart with 3 data points.
The chart has 1 X axis displaying Year. Data ranges from 2021-01-01 00:00:00 to 2023-01-01 00:00:00.
The chart has 1 Y axis displaying Score. Data ranges from 0.97 to 1.22.
End of interactive chart.
Compare life insurance providers quickly and easily
Answer a few questions to check availability with Ethos
22-24
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The amount of coverage you need depends on many factors, including your age, income, mortgage and other debts and anticipated funeral expenses.
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500,000-1,000,000
1,000,000+
Please select Coverage amount
Whole life insurance combines life insurance with an investment component.
Coverage for life
Tax-deferred savings benefit if premiums are paid
3 variations of permanent insurance: whole life, universal life and variable life include investment component
Term life insurance is precisely what the name implies: an insurance policy that is good for a specific term of time.
Fixed premium over term
No savings benefits
Outliving policy or policy cancellation results in no money back
Term 5 Years
Term 10 Years
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Whole Life
Final Expense
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Whether you're shopping for the cheapest life insurance or the best coverage options, researching several companies may be a good strategy. Although life insurance quotes do not typically vary as much between companies as auto or home insurance, if you're not sure that Ethos is the right fit for you, these three carriers might be worth a look so that you can secure the best life insurance company for your needs:
Ethos vs. MassMutual
If you want a policy with more options for customization than Ethos offers, MassMutual might be a good choice. The carrier is one of the largest life insurance companies in the country by market share and has numerous potential riders that can be added to personalize your life insurance policy. There's also a mobile app for convenient policy management. MassMutual does not offer as many online policy management tools, though, so if you prefer a digital experience, Ethos might be a better option.
State Farm was named the Best Term Life Insurer in the 2023 and 2024 Bankrate Awards. With many life insurance options and riders, it could be the right fit for an individual who wants to build out a policy customized to suit their needs. Additionally, State Farm offers a wide array of local agencies if you like a more hands-on approach to life insurance. State Farm only offers State Farm life insurance, however, whereas Ethos uses multiple underwriting companies to match customers' needs.
If Ethos' no-exam options are attractive to you, you could consider Guardian, which has several no-exam life insurance options. Guardian is also available in all 50 states and Washington, D.C., so it could be an option for New York life insurance shoppers who can't work with Ethos insurance. Guardian only offers term life insurance quotes online, though, so if you are looking for an online whole life quote, Ethos might make more sense.
The insurance market can be complicated, but Bankrate's insurance editorial team used our unique perspective to bring readers the information they need to make educated decisions when shopping for a policy.
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120
carriers reviewed
Is Ethos a good insurance company?
Technically, Ethos isn't an insurance company; it's a licensed insurance agency that works with multiple insurers to write life insurance policies. Our Ethos insurance review found that the company could be a good choice if you want to purchase your life insurance online or if you live near an agent that works with Ethos.
If you're looking for no-exam life insurance, Ethos life insurance may be a good fit as well since many of its policies may be issued without a medical examination. However, because Ethos doesn't underwrite its own policies, your experience may largely depend on the insurer that you are paired with, so you may need to do additional research or consult Bankrate’s life insurance guide to make sure that company is right for you.
What are real-life customers saying about Ethos?
To provide a more well-rounded perspective on the Ethos customer experience, let's examine some real-life feedback from policyholders. These insights, sourced from the review platform Trustpilot, could offer a glimpse into what you might expect when purchasing coverage and managing your policy.
It's worth noting that in-depth reviews surrounding the claims process tend to be less common for life insurance products. So the bulk of testimonials typically focus more on the initial application journey, interactions with the company's customer service and overall policy management experience.
While not an exhaustive look at how Ethos handles claims in the future, this real-user feedback could shed some light on navigating the purchase process, communicating with the company and maintaining coverage over time.
Trustpilot reviews
Reading Trustpilot reviews can help shed light on where the company excels and where it might have some pitfalls.
Trustpilot User 1*
May 1, 2024
While the rate quoted was the best available...
“While the rate quoted was the best available, the automated systems over complicated the process. I started my application on March 27, it was approved on April 1 but not finalized until May 1. When I had opportunities to interact with a live person, they were very apologetic but unable to resolve minor issues even with IT support’s assistance.”
“I was denied a modest amount of coverage despite having excellent personal and family health history, no smoking, no drinking, no dangerous job or risky hobbies. No adjustment to the premium, just a very unexpected denial. Left to feel like the great premiums they offer aren't very attainable. Went with a different company who approved me immediately with an almost identical rate that Ethos drew me in with, but couldn't stand behind.”
This was really easy to get term life insurance...
“This was really easy to get term life insurance. The platform is easy to use. However, I am still waiting for customer support to contact me regarding making some important changes that I forgot to include with my initial application. Otherwise, the process has been smooth.”
This is an edit of my previous review. Customer...
“This is an edit of my previous review. Customer service has improved markedly in the couple of days since I initiated my policy. I will concede that I started the policy during weekend hours which may have affected the company’s ability to respond to my concerns. Once everything gets squared away I will update the review again and give 5 stars. Life insurance is something one should want to make certain gets handled correctly to avoid adding to the grief of those we leave behind. I chose Ethos for the price but I can’t sacrifice service.”
*The quotes and citations included on this page have been verified by our editorial team and are accurate as of the posting date. Outlinked content may contain views and opinions that do not reflect the views and opinions of Bankrate.
Ethos company details
Need to contact Ethos? Here are a few ways to do so:
Ethos operates in 49 states and D.C. New York is the only excluded state.
Ethos tools and benefits
While Ethos' primary platform seems to be its online quoting, it does offer life insurance products to insurance agents and brokers, so you may be able to work with a local agent. This could be especially beneficial if you feel you need a little more guidance or aren't sure how much life insurance you need. You could also use a tool, like a life insurance calculator, to help you determine an appropriate coverage amount before getting an Ethos quote online.
Ethos also offers the following products and benefits:
Free will: Ethos offers free will and estate planning tools when policyholders purchase an eligible life insurance policy.
Wills: Even if you don’t buy a policy through Ethos, they still offer getting a will online for as low as $149. The process takes about 10 minutes and you are guided through the step-by-step process with video assistance.
Estate plan: Ethos offers online estate planning tools for $449. This option includes a will, in addition to information on creating a power of attorney and caregiving. For people who do not have life insurance through Ethos, edits are free for the first two years and then are $19 per year for will changes and $39 per year for changes to the estate plan.
Frequently asked questions about Ethos
When the time comes to file a claim, the beneficiary must contact the insurance company that Ethos paired the policyholder with. That company will walk you through the claims process.
Ethos is a legitimate insurance broker that pairs customers with life insurance companies. Though it is not a life insurance company directly, it does help streamline the shopping experience by offering options tailored to customers' needs. You can purchase a policy with Ethos, often in less than five minutes, as well as make payments. However, you must contact the insurance provider directly for policy services and claims.
Ethos is partnered with many big names in the life insurance industry, such as:
Legal & General America
Ameritas Life Insurance Corp.
TruStage Financial Group, Inc.
Senior Life Insurance Company
Mutual of Omaha
Ethos seems committed to sustainability and ethical business practices through initiatives like its Ethos for Good platform. This program aims to inspire positive community impact by partnering with professional athletes, nonprofits and charitable organizations on outreach efforts. Some examples highlighted include supporting youth mentorship programs, providing relief funds for cancer patients, aiding underserved kids through after-school activities and raising funds for summer camps serving pediatric patients with chronic illnesses. By launching Ethos for Good, the company is taking tangible steps to uphold its mission of protecting families while building trust in the life insurance industry through accessible, affordable coverage and a dedication to social responsibility.
At Bankrate, we make every effort to rate each company we review. However, assigning a Bankrate Score to every insurer is not always possible. This is especially true for companies like Ethos Life that work with multiple third parties to underwrite their policies. The quality of the policy you receive may vary depending on each separate underwriting company's coverage options, financial strength and other factors. Ethos Life partners with several major insurers, including Legal and General America, Ameritas Life Insurance Corp., TruStage Financial Group and more. This variety makes it challenging to apply a uniform rating system. Therefore, we encourage consumers to delve into the specifics of each policy and insurer to find the best fit for their unique needs and circumstances.
Ashlyn Brooks is a finance writer with more than half a decade of experience, known for her knowledge in areas such as taxes, insurance, investing, retirement, finance news, and banking products.
Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.
Key Principles
We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers.
Editorial Independence
Bankrate’s editorial team writes on behalf of YOU — the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information.
How we make money
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey.
Bankrate follows a strict
editorial policy, so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers.
We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.
Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range, can also impact how and where products appear on this site. While we strive to provide a wide range of offers, Bankrate does not include information about every financial or credit product or service.
Insurance Disclosure
This content is powered by HomeInsurance.com, a licensed insurance producer (NPN: 8781838) and a corporate affiliate of Bankrate.com. HomeInsurance.com LLC services are only available in states where it is licensed and insurance coverage through HomeInsurance.com may not be available in all states. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
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