Ethos Life Insurance: For anyone who has a young family or anyone who cares about what might happen to his family after he is death, Life insurance is a good option as it leaves the deceased family with something to hold on to after the demise of the insured person.
Having the best life insurance can go a great and long way if something should happen to you. Instead of leaving your family without any form of help or benefit, life insurance can provide them with support that will help them maintain their current lifestyle.
They won’t have to be forced to leave their house or even abandon everything they know or had even after losing someone they loved.
This Ethos Life Insurance review will look at what this company offers and what it means for you.
What is Ethos Life Insurance?
Ethos is a simple online platform that was founded in 2007 and that allows you to apply for life insurance and possibly get an instant approval. Ethos’s policies are issued by either Banner Life Insurance Company (A Legal & General America Company) otherwise known as Assurity Life Insurance Company.
Ethos Life Insurance is a company that offers only term life insurance. With term life insurance, there are fixed monthly premiums for the whole period of the insurance policy. Ethos will ask about the basic information they need to know about you. You’ll then enter your payment information and get started with your policy.
What Ethos Offers
Life insurance can be very strenuous. Ethos makes it easier by offering just one type which is term life insurance.
Term life is the easiest type of life insurance policy to understand. You select the coverage amount and the period. If you die within the stated period, your beneficiary gets paid but If you don’t die, then the policy gets expired.
Here’s an idea of what Ethos will offer you.
- Period of 10, 15, 20, or 30 years
- Coverage between $25,000 to $10 million
- Available to people between the age of 20 to 65
- People Can buy coverage for up to age 85
- Available in every states except New York
Majorly, Ethos offers a number of wonderful characteristics that makes it different from other life insurance companies.
Here’s what you can expect:
Totally online application
The Ethos application is totally on the web and takes 10 minutes. Moreover, you’re probably going to hear back about your coverage in merely hours or days—rather than weeks.
No regular checkups
Numerous insurance companies expect you to have a test as a component of the application procedure. With Ethos, you don’t need to stress over making additional medical checkups.
Most applicants don’t need to see a doctor, since tests aren’t required for most policies of up to $1 million.
With the assistance of custom investigation, Ethos operators look at every application on a case-by-case basis. This enables them to take a look at your accounts, your life stage, and different circumstances to assist you with making sense of which strategy is probably going to work best for you.
Ethos additionally encourages you with carrying on with your real life. You gain access to supportive educational substance and different advantages that can provide you with a structure for using sound judgment all through your different life occasions.
Reasons We like Ethos Life Insurance
May Not Require a Medical Exam
Unlike other insurance companies, in Ethos, numerous candidates needn’t bother with a medical test or even labs drawn. Ethos assumes the best about you to keep your rates low.
If you do, Ethos even takes care of the expense and makes planning the arrangements straightforward (if you need more than $1 million in coverage, you may require a test).
The entire application procedure is on the web, so you don’t manage a specialist. Since the procedure is fundamentally robotized, Ethos can dispose of the normal regulatory expenses and pass the reserve funds along to its candidates.
At the point when you apply for life coverage the conventional way, the operator frequently takes a shot at commission, and so is trying to upsell you to a more costly, confusing and complicated plan.
It’s easy to get overwhelmed and choose a policy that you may not really understand. With Ethos, everything is done on the web so there is no upsell. You won’t be compelled to choose from your financial limit.
May Give Instant Approval
Each individual is different, but many applicants receive immediate approval because of the automated underwriting process. If there’s nothing that sticks out as risky on your application, you might be approved in a matter of minutes.
Acknowledges Applicants Up to Age 65
While you might be qualified for a shorter term (commonly 10 years), you can in any case get coverage despite having grown past retirement age
Pays Claims Within a Few Weeks
Losing a friend or family member is hard enough, yet sitting tight months for the life coverage installment can aggravate it even. Ethos pays guarantees rapidly to help diminish the pressure while you’re in grieve.
Your premiums won’t change for the whole length of the policy. You don’t need to stress over expanding premiums that become unreasonably expensive as you grow older.
31-day Grace Period
If you can’t pay your premium on its due date, Ethos offers a 31-day grace period. If you don’t pay within the period of grace, you will lose coverage. If you need to get it once more, you’ll need to experience the application procedure once more.
The Fine Print May Cause Issues
If you get diagnosed of invasive cancer inside 90 days of accepting the arrangement, the payable advantage is significantly decreased.
If the insured person commits suicide in 2 years of the policy, the only benefit paid is a return of all the premiums paid so far. The real benefit doesn’t get paid.
Coverage Not Guaranteed
If you have certain ailments, you may not get affirmed. If there are medical problems, they may require a therapeutic test and a guarantor will at that point choose in the event that you can get a policy, however it’s not ensured.
Not Available in New York
Unfortunately, Ethos is not available in New York
Term life insurance is a lower cost option to whole life insurance and it can protect your loved ones from the unknown. Because life can be very unpredictable, this type of insurance can help provide some reassurance that your family will be given if by any chance you die unexpectedly.
Because the policy is for a given period of time and does not accumulate extra cash value, it is inexpensive than whole life insurance. It also usually does not need a medical examination.