Ethos Life Insurance Review 2021: Pros and Cons
Most or all of the products presented here come from our partners who pay us. This can influence which products we write about and where and how the product appears on a page. However, this does not influence our ratings. Our opinions are ours.
Ethos life insurance
- Rated 4 out of 5 stars for overall performance by NerdWallet.
- Sell term and whole life insurance online.
- Some policies include accelerated death benefits.
Launched in 2016, Ethos offers term and whole life insurance contracts online. Ethos says it can take as little as 10 minutes to complete the online application, and most people who qualify for coverage do not need to have a medical exam. Coverage amounts range from $ 50,000 to $ 1.5 million. Ethos uses data such as your motor vehicle records, your family’s medical history, and current drug prescriptions to calculate eligibility and set pricing.
” MORE: Compare life insurance quotes
Ethos life insurance
Ethos has been awarded 4 out of 5 stars for its overall performance. NerdWallet ratings are determined by our editorial team. The scoring formula takes into account data on complaints from the National Association of Insurance Commissioners and financial strength ratings.
Based on these assessments, Ethos is one of the best life insurance companies for 2021.
Advantages and disadvantages of Ethos life insurance
Ethos life insurance contracts
Ethos offers standards term life insurance persons aged 20 to 65 in all states except New York. Policies are issued by Banner Life Insurance or Ameritas Life Insurance. The terms available are 10, 15, 20 and 30 years. The application process is 100% online. Life insurance agents are available to answer questions by phone, text or email.
Some policies include accelerated death benefits, which allow you to participate in the payment of life insurance while you are alive if you are diagnosed with a terminal illness.
Ethos may require that you take a life insurance medical examination if they need more information about your medical condition to calculate eligibility and rates.
The company also sells AAA Life and TruStage policies. His AAA life guaranteed issue whole life insurance is accessible to people aged 65 to 85. Applicants are approved instantly, regardless of their medical history, and coverage amounts range from $ 10,000 to $ 25,000. It is available in all states and Washington, DC, except New York. The Company’s TruStage policies include a simplified issue term and life, as well as guaranteed lifetime acceptance.
Over three years, Banner Life Insurance and Ameritas Life Insurance, the companies that issue term life insurance policies purchased through Ethos, have drawn fewer complaints from state regulators than expected for companies their size, according to an analysis NerdWallet Data from the National Association. insurance commissioners.
In the same three years, AAA Life Insurance, the company that issues whole life insurance policies purchased through Ethos, has come close to the number of complaints expected for a company of its size.
Life insurance buying guide
Before you start comparing companies, choose the type of life insurance you want, like the term or all of life. Decide which one life insurance riders, if applicable, you want the policy to include. Calculate how much life insurance you need and how long you want the coverage to last. Check that the insurers you are considering offer the coverage you are looking for.
When you compare rates, make sure the quotes are for the same amount of coverage over the same period of time. It is also important to make sure that the police’s medical requirements match your needs. For example, if you want to ignore the life insurance medical examination but you don’t mind answering the health questions, confirm that the application process for each policy you are comparing aligns with this.
Price may not be the primary driver of your buying decision. Look at the number of consumer complaints each business receives, as a high number can be a red flag for the quality of service.
For more tips, see our life insurance buying guide.
Methodology: Life insurance quotes
NerdWallet life insurance ratings are based on weighted averages of financial strength ratings, which indicate a company’s ability to pay future claims, and complaint index scores from the National Association of Commissioners. insurance for individual life insurance. To calculate the rating for each insurer, we adjusted the scores on a 5-point curved scale.
These ratings are a guide, but we encourage you to shop around and compare multiple insurance quotes to find the best rate for you. NerdWallet does not receive any compensation for reviews.
Methodology of insurer claims
NerdWallet reviewed complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2018-2020. To assess how insurers stack up against each other, the NAIC annually calculates a Claims Index for each affiliate, measuring its share of total claims relative to its size, or its share of total premiums in the industry. To assess a company’s complaint history, NerdWallet calculated a similar index for each insurer, weighted by each subsidiary’s market share, over a three-year period. The ratios are determined separately for auto, home (including renters and condos) and life insurance.