Quick answer
Ethos Life is a digital life insurance brokerage founded in 2016 that offers 100 percent online life insurance applications with instant underwriting decisions. Ethos does not underwrite policies itself - coverage is provided by A+ rated Legal & General America (Banner Life) and other partner carriers. Ethos offers term life coverage up to $2,000,000 for healthy applicants ages 20-65 with no medical exam required for most applicants.
Ethos is an online insurance company founded in 2016 that offers term and whole life coverage to U.S. citizens ages 20 to 85 years. Its main office is in San Francisco, California, and is licensed to operate in every state.
Founders Peter Colis and Lingke Wang created Ethos to make life insurance more accessible and affordable to many. The company is partnered with some of the most highly-rated insurance providers worldwide. Ethos acts as a third-party administrator selling policies issued by Legal & General America, TruStage, Ameritas Life Insurance Corp., and Senior Life Insurance Company.
Ethos life insurance ratings are mixed.
Those who gave positive Ethos reviews like that it is easy to apply for online and that coverage is available without having to undergo a medical exam.
Meanwhile, those who gave negative Ethos life insurance reviews did not like that it has no customizable riders and that its eligibility options for whole life insurance are limited.
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Coverage Options
Ethos life insurance products are all available online, and those who are interested in signing up for either a term or whole life policy may obtain coverage without having to go through an agent. Through Ethos’ online platform, applicants only spend only about 10 minutes to complete the process, and policy decisions containing rates and coverage eligibility can be processed quickly.
Ethos term life insurance policies offer protection worth $20,000 to $2 million, with 10, 15, 20, and 30-year terms. The application process is 100% online, but it also has licensed agents who can answer questions. Ethos guarantees there will be no upselling via its agents because they are not paid on commission. Term life plans are either simplified or fully underwritten. Simplified plans are based on information entered in the application form while fully underwritten plans will need answers to health questions to determine premium levels. Both do not require a medical exam.
Ethos whole life insurance lasts for the rest of the policyholder’s life and guarantees a payout for loved ones. It is available only to those ages 66 to 85 years old, and policies range from $1,000 to $30,000. The application takes only 10 minutes and is also fully online.
Pros and Cons of Ethos Life Insurance
Here are the pros and cons of having an Ethos life insurance plan to help you decide whether or not it’s right for you.
Pros
- Quick and seamless online application process
- Coverage is open to those (20 to 85 years old) without a medical exam
- A guaranteed approval whole life is an option
Cons
- Offers only two types of insurance
- Whole life insurance is available only to 66 to 85-year-olds
- Unclear information on supplementary riders
- Accepts only debit or credit card payments
Ethos Life Insurance Reviews & Ratings
Is Ethos life insurance good? Google reviews give Ethos 4.7 out of 5 stars. We also found a mix of positive and negative Ethos life insurance reviews from various online sources. Let’s look at what some of these Ethos reviews say.
Positive Ethos Life Insurance Reviews
Those who gave positive Ethos life insurance reviews liked its seamless application process and friendly and knowledgeable customer support staff. Others said that its policies are affordable.
“At first I was a little disappointed because I couldn’t get in direct contact with the agent who had contacted me. In fact, I was stuck in their phone system on hold twice. But then the agent, Michelle Brown, emailed me AND texted with me regarding my few questions. Then I was able to actually reach her by phone which saved me a lot of time. Michelle answered all of my questions, and she was extremely pleasant and professional! In addition, I am very happy with the policy I got as well as the affordable premium for the protection I needed. The application process was quick and easy. Highly recommend it!” - Dr. Rhona Button (Google Review)
Negative Ethos Life Insurance Reviews
Those who gave negative Ethos life insurance reviews said that it takes a long time for complaints to be addressed. Others noted that while most insurance providers accept checking or savings account payments, Ethos limits options by accepting only debit and credit cards.
“This place is a joke. We applied for and got a life insurance policy for my husband. Everything was fine, we were making payments for 2 months then all of a sudden out of the blue we got an email message saying the life insurance was canceled. No explanation; nothing. It took back and forth back and forth emailing to find out it had something to do with one of the prescriptions that my husband was taking. They never did explain which one it was or what the issue really was. We finally got so frustrated with this company that we told them to cancel the policy. Stay away, there are more professional insurance companies out there.” - La St (Google Review)
Note: Ethos responded to the customer asking them to contact its support team for further assistance.
Ethos Life Insurance Frequently Asked Questions (FAQs)
Here are some of the common questions that Ethos applicants and customers ask:
Does Ethos life payout?
Given that nothing unusual crops up, your beneficiary can seamlessly file a claim and receive a payout in untaxed, lump-sum cash. There are a few reasons why a life insurance claim might not be paid out, such as misstatements, fraud, or material misrepresentations of the details in your application. That’s why entering accurate information is critical to your application. Details may vary according to the state, so it’s best to discuss this with Ethos before signing.
What do I need to apply for Ethos life insurance?
To ensure a smooth process, applicants should have the following information on hand:
- Social Security number (for identity verification)
- Driver’s license
- Personal and family medical history
- Current prescription details
Applications are not binding, and you may withdraw at any time without incurring penalties. Submitting and signing your application only confirms that the details you gave are correct.
What questions does Ethos Life ask during the application process?
Applying for an Ethos policy is simple and straightforward, without involving complicated questions. The forms will only ask for your personal information and some basic health questions. Those seeking term policies will need to answer additional questions, such as your legal and driving history, health insurance history, hobbies and lifestyle, employment and income status, and history of drug and/or alcohol use.
Who is Ethos life insurance best for?
Ethos life insurance is designed for those who want a quick and easy application process, minus the typical medical tests. Its term policies are available to those aged 20 to 65 years, while whole life plans are available only to those aged 66 to 85 years.
Have more questions about Ethos or life insurance in general? Insurancy can connect you with the best policy that meets your needs.
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Frequently Asked Questions
Is Ethos Life a legitimate life insurance company?
Yes, but with an important nuance: Ethos is a licensed life insurance BROKERAGE, not a carrier. Ethos partners with established A+ rated insurance companies (primarily Legal & General America, which also owns Banner Life) to underwrite the actual policies. Ethos provides the digital application platform and customer experience; the partner carrier holds the policy and pays the death benefit. This is structurally similar to other digital brokers like Lemonade and Fabric.
Who underwrites Ethos Life policies?
Most Ethos term life policies are underwritten by Legal & General America (Banner Life), an A+ rated carrier and one of the largest life insurance writers in the U.S. (and a subsidiary of London-headquartered Legal & General Group). Some Ethos products are underwritten by other A-rated partners. Always check which specific carrier is underwriting your policy at issue - this matters for claims, conversion options, and long-term financial strength.
What products does Ethos Life offer?
Ethos offers three main product types: (1) Term Life Insurance - 10/15/20/25/30-year level term, coverage up to $2,000,000 for healthy ages 20-65, (2) Whole Life Insurance for ages 65-85, no exam required, coverage $10,000-$25,000, (3) Estate Planning services (will and trust creation through partner platform). The flagship product is term life with instant online underwriting.
Does Ethos Life require a medical exam?
No, for most applicants. Ethos uses accelerated underwriting via prescription history, MIB records, motor vehicle records, and LexisNexis risk scoring to make decisions in 10 minutes or less. Applicants with health conditions that disqualify them from instant approval may be referred for a paramedical exam or declined. For face amounts above $2M, traditional underwriting with a paramedical exam is required.
How much does Ethos Life insurance cost?
Sample monthly rates for a healthy non-smoking 35-year-old female: $500K 20-year Ethos term, around $24-31/month. $1M 20-year Ethos term, around $42-54/month. Because Ethos partners with Legal & General America (Banner Life), the underlying rates are very close to Banner Life direct - typically within 5-10 percent. The trade-off is that you get a simpler digital experience but less ability to shop multiple carriers.
How long does Ethos Life take to approve an application?
For healthy applicants who pass instant underwriting, decisions return in 10 minutes or less - often during the application session itself. Applicants requiring referral to a human underwriter (due to health questions, age, or face amount) typically receive a decision in 1-3 business days. The entire application takes 10-15 minutes; the policy is issued electronically once approved and the first month's premium is collected.
Who should buy life insurance from Ethos Life?
Ethos is best for: (1) Tech-savvy applicants ages 20-65 who want a fully digital, no-call-required experience, (2) Healthy applicants who can complete the entire application in 10-15 minutes and value speed over carrier comparison, (3) Buyers seeking $500K-$2M of term life coverage. Ethos is NOT the best fit for applicants with health conditions (limited underwriting flexibility), buyers seeking carrier comparison (you only get one quote), or buyers seeking permanent insurance (Ethos's whole life is small face amounts only).
What is the difference between Ethos and Banner Life?
Banner Life is the actual insurance CARRIER (A+ rated subsidiary of Legal & General Group) that underwrites and holds the policy. Ethos is a digital BROKERAGE that sells Banner Life's policies (among others) through a streamlined online application. If you apply through Ethos, you end up with a Banner Life policy in most cases - same death benefit, same A+ financial strength, similar premium. The difference is purely the application experience and customer service channel.
Can I convert Ethos term life to permanent insurance?
It depends on which carrier ultimately underwrites your policy. Ethos policies underwritten by Legal & General America (Banner Life) include the standard Banner Life conversion privilege - convert to a permanent Banner Life product (Life Step UL) without a new medical exam, typically before age 70 or end of level term. Ethos policies on other partner carriers may have different conversion rules. Always confirm conversion options before applying.
How do I file a claim with Ethos Life?
Claims are filed directly with the underlying insurance carrier (not with Ethos). For most Ethos policies, claims go to Legal & General America (Banner Life) at 1-800-638-8428 or LGAmerica.com/claims. Required documentation includes the certified death certificate, the policy number, and the beneficiary's ID. Most claims are paid within 14 to 30 days. Ethos customer service can assist with claim initiation and beneficiary support but does not pay claims directly.
