Ethos offers two primary policies: term life insurance and whole life insurance. Before reading the policy details below, know that there are a few age-related restrictions regarding each policy:
- Ethos Term Life Insurance: Term life insurance customers must be between ages 20 to 65 to apply, but an existing customer’s policy can last till they reach 80 years of age.
- Ethos Whole Life Insurance: Ethos life insurance customers must be between ages 66 to 85 to apply.
With Ethos term life insurance, the policyholder is covered for the length of their term contract, while paying a monthly premium throughout the coverage. If the policyholder dies during their coverage, their friends and family members (called “beneficiaries” in the contract) receive a divided portion of the tax-free, lump-sum coverage amount.
Applicants can choose as much or as little coverage as they like, anywhere from $200,000 to $2 million, with term lengths lasting anywhere from 10 to 30 years.
Ethos offers applicants two styles of application for term life insurance, neither of which require an in-person medical exam:
- Simplified Issue: Designed for applicants who aren’t sure they’d be approved in a traditional underwriting process, Ethos’ Simplified Issue term life insurance uses third-party metrics to create an overall picture of an applicant’s health and thereby accept more applicants.
- Fully Underwritten: The more traditional approach, Ethos’ Fully Underwritten term life insurance policies ask applicants to answer more detailed medical questions. Fully Underwritten policies may be a better option for applicants in good or great health, as they may save money on premium payments.
Ethos Whole Life Insurance is designed for older adults who want to leave a guaranteed, tax-free trust to family members or friends. With whole life insurance, coverage never ends after a specific amount of time, meaning that coverage amount is guaranteed to go to a policyholder’s beneficiaries once they die (barring annulments).
Applicants can request coverage ranging from $1,000 to $30,000. Premium payments are locked-in, meaning pricing doesn’t change as the policyholder ages. Ethos also doesn't charge policyholders once they reach age 100, meaning that although your contract will stay active, you won't have to pay another premium ever again."
Ethos Whole Life insurance accepts every applicant and never requires a medical exam.