- Term and whole life options
- Term life coverage up to $2 million
- No-medical-exam policies available
- Free estate planning tools for policyholders
Our evaluations and opinions are not influenced by our advertising relationships, but we may earn a commission from our partners’ links. This content is created independently from TIME’s editorial staff. Learn more about it.
Updated May 6, 2024
According to an April 2023 insurance-industry survey, interest in life insurance is at an all-time high, with 39% of Americans saying they intend to buy coverage in the coming year. And there are some excellent reasons to have a policy. New parents can use life insurance as a financial safety net for their families. Seniors may seek coverage to cover end-of-life expenses or create an inheritance for children or grandchildren.
Whatever your reason for buying life insurance, you may have encountered Ethos Life Insurance. In this Ethos review, we’ll take a closer look at what this online insurance provider offers.
Ethos Life Insurance
Ethos Life Insurance
Policy types
Term, whole
Coverage min
$20,000
Coverage max
$2 million
Trustpilot stars
$4.7
TIME’s take
Ethos Life Insurance was born from its founders’ desire to make life insurance easier for regular people to understand and buy. It features a well-designed online platform, multiple options for policy types and coverage amounts, and no-medical-exam coverage. Ethos Life Insurance policies will meet most peoples’ needs. But if you’re looking for term life coverage beyond Ethos’ $2 million maximum, you’ll likely need to look elsewhere.
Who is Ethos for?
Ethos Life Insurance is designed for those who want a convenient application process, and the speed and non-invasiveness of no-medical-exam coverage.
Its term life insurance policies, with coverage amounts up to $2 million and terms ranging from 10 to 30 years, are ideal
for young families. Its whole life product, with coverage amounts up to $30,000, is targeted to seniors aged 66 to 85. Available estate-planning tools are free for customers to use, adding value to an Ethos Life Insurance policy.
Ethos Life Insurance appears to be sold primarily online, so buyers should be comfortable with handling their own insurance purchases.
Ethos overview
Ethos Life Insurance is essentially a digital insurance agency that sells term and whole life from multiple insurance carriers. It’s considered an “insuretech”: a company using cutting-edge technology to operate more efficiently and improve the customer experience. The company explains on its website that “Ethos has streamlined the application process with predictive modeling and proprietary technology to make it easier for customers, and we leave the actual insuring to the established insurance companies that have paid out billions of dollars in claims.”
What sets Ethos Life Insurance apart is its ease of use. It promises coverage in just five minutes through its online application process. Ethos also offers broad eligibility. Coverage is available for people aged 20 to 85, with policies as high as $2 million.
The company offers phone support at 415-915-0665 from 8:00 am to 6:00 pm CST and by email at support@ethoslife.com. Ethos has 4.7 out of a possible 5.0 stars on Trustpilot.
Ethos history
Ethos Life Insurance was established in 2016 and is based in Austin, Texas.
The company’s backers have ranged from well-known investors such as SoftBank and Goldman Sachs to celebrities such as Will Smith, and Robert Downey, Jr. Its current carrier partners include Legal and General America (AM Best A+ rating), TruStage (AM Best A rating), Ameritas (AM Best A rating), and Mutual of Omaha (AM Best A+ rating).
The company also sells through “thousands of independent insurance agents.” However, the website does not offer an agent finder, and we could not locate any Ethos Life Insurance agents with a web search.
Ethos policy details
Ethos Life Insurance sells two types of life insurance: term life and whole life. Both offer online applications and no medical exam. The company claims that it can approve your application within minutes.
Ethos term life insurance
Ethos Life Insurance \\\[term life insurance](https://time.com/personal-finance/article/term-vs-whole-life-insurance/) is offered in terms of 10, 15, 20, and 30 years, and coverage amounts start at $20,000. Those up to age 50 can apply for up to $2 million in coverage, while those over 50 can apply for up to $500,000.
Applicants can choose a simplified issue policy, in which the company makes its underwriting decisions based on information gathered from the application and third-party data. The company also offers a fully underwritten term life policy for those who are in good health and want a higher death benefit. This implies that the simplified issue policy has a lower maximum death benefit, but the company does not clarify that maximum. Ethos Life Insurance does note that a fully underwritten policy tends to have a lower premium than a simplified issue policy.
Ethos whole life insurance
Ethos Life Insurance offers \\\[whole life insurance](https://time.com/personal-finance/article/what-is-whole-life-insurance/) ranging from $1,000 to $30,000. The company claims guaranteed approval for those aged 66 to 85, regardless of health history. As a form of \\\[permanent life insurance](https://time.com/personal-finance/article/term-vs-permanent-life-insurance/), an Ethos whole life policy remains in effect until the policyholder’s death, provided they make their premium payments on time.
Ethos estate-planning tools
Ethos Life Insurance also offers online wills and estate-planning tools. These are free with the purchase of a life insurance policy, but are also for sale to non-policyholders.
Ethos pros and cons
Pros:
Cons:
- Younger people interested in whole life will probably not have needs met by Ethos
- $2 million coverage maximum may not be high enough for some families
Ethos cost
Ethos Life Insurance publishes the following \\\[average monthly life insurance rates](https://www.ethoslife.com/life/life-insurance-rates-by-age/) on its website for a 10-year, $1 million term-life policy.
| Age | Smoker | Non-smoker |
|---|---|---|
25 | $123 | $58 |
35 | $137 | $65 |
45 | $332 | $135 |
55 | $982 | $316 |
65 | $2,540 | $790 |
The company notes that rates may vary by carrier, underwriting class, date of policy issuance, and other factors.
How does Ethos compare to other brands?
Ethos Life Insurance seems to sit in an insurance niche with companies such as Fabric by Gerber Life. These companies also sell policies underwritten by established insurers and directly to consumers online.
Here’s how those three companies compare:
| Ethos Life Insurance | Fabric Life | |
|---|---|---|
Policy types | Term, whole | Term |
Coverage min | $20,000 | $100,000 |
Coverage max | $2 million | $5 million |
A.M. Best | A+(1) | A+(2) |
Trustpilot stars | 4.7 | 4.8 |
Riders? | Available, but the company does not provide specifics | Accelerated death benefits are included with every policy |
(1) Rating for underwriting company, Mutual of Omaha
(2)Rating for underwriting company, Western and Southern Life
Policy types
Ethos Life Insurance offers both term and whole life insurance. While its whole life policy is targeted to seniors, it’s more than what is offered by Fabric and Haven, who only sell term life.
Coverage levels
The maximum coverage amount for an Ethos Life Insurance term life policy is $2 million, which will be enough to satisfy the needs of many policyholders. However, Fabric and Haven Life offer policies with higher limits.
Financial strength
Ethos Life Insurance’ underwriting companies carry AM Best ratings of A and A+. Other companies in this review have ratings of A+ and above. The ratings indicate a company’s relative financial strength and ability to pay claims.
Customer satisfaction
Ethos Life Insurance has 4.7 stars on Trustpilot’s 5.0-point scale. It’s a favorable rating and comparable to that of its competitors.
Riders
Ethos Life Insurance notes that it offers riders on some of its policies, but does not specify which policies or what those riders entail. Fabric and Haven Life both offer an accelerated death benefit rider.
Methodology
We evaluate life insurance providers based on types of coverage and available coverage amounts, how to buy, financial strength, and customer satisfaction. Our objective is to provide a high-level overview of Ethos Life Insurance to help readers make a more informed insurance buying decision.
The Ethos Life Insurance website was our primary source for information about the company, including coverage details and pricing. AM Best ratings were retrieved directly from the AM Best website. Competitor information came from those companies’ websites. We referenced Trustpilot to evaluate companies’ customer satisfaction.
Bottom line
Ethos Life Insurance may meet your needs for life insurance. However, those looking for term life coverage more than $2 million, or permanent life insurance over $30,000 will need to look elsewhere. What sets Ethos apart is its ease of use. Ethos was founded by entrepreneurs looking to make it easier to understand and buy. It delivers with a state-of-the-art web interface and a fast online application process.
Ethos Life Insurance
Ethos Life Insurance
Policy types
Term, whole
Coverage min
$20,000
Coverage max
$2 million
Trustpilot stars
$4.7
Frequently asked questions (FAQs
How do I buy life insurance from Ethos?
To buy life insurance from Ethos Life Insurance, visit the company’s website. You can apply online, and you may get approved within minutes.
How do I file a claim with Ethos?
Ethos Life Insurance does not appear to offer detailed claim information on its website. It does note that beneficiaries can file a claim with their insurance carrier (Ethos Life Insurance offers policies from multiple carriers) after a policyholder’s death.
Who owns Ethos Life insurance?
Ethos Life Insurance was founded in 2016 by Peter Colis and Lingke Wang. The two have continued to serve as the company’s CEO and president, respectively. Ethos’s financial backers have included Sequoia, Accel, Goldman Sachs, and celebrities such as Will Smith and Robert Downey, Jr.
The information presented here is created independently from the TIME editorial staff. To learn more, see our About page.