4. Ethos Life - Easiest Application Process
What We Like Most:
- No medical exams required
- Lifetime customer support
- Guaranteed level premiums for 10-, 15-, 20-, and 30-year terms
- Easy and fast online insurance application process
Overview
Term life policies: Term life policies from different carriers
Issue ages: 20 to 65 (term life) or 65 to 85 (whole life)
Monthly premium for a healthy 65-year-old man: $128 to $190 per month for 10 years (term life insurance) and $100,000 in coverage
Ethos launched in 2016 and quickly established itself as a nontraditional life insurance provider that doesn’t upsell you on policies. Founders Peter Colis and Lingke Wang started the company in an effort to make life insurance accessible and affordable to all. With more than $400 million of invested capital, Ethos operates in 49 states and partners with several prominent insurance carriers, including Legal & General America, AAA Life, and Principal.
If you’re looking for affordable life insurance coverage with an easy online application process, then Ethos may be a good option. It may also help you cover short-term debts or lost income, pay a mortgage, or provide funds for a relative’s college education.
Ethos offers term life insurance with a variety of coverage amounts and term lengths you can customize depending on your financial situation. If you are a 65-year-old male with average health, for instance, you could get a 10-year term life insurance policy with $100,000 of coverage for a monthly premium starting between $128 and $190.
If you apply for term life insurance before the age of 65, you can own term coverage until age 94. Depending on your policy, you may not be required to undergo a medical exam. If you’re considering a permanent policy, then you can upgrade to a whole life insurance plan. Ethos works with carriers such as AAA Life, which insures guaranteed issue whole life policies if you go the permanent life insurance route.
Ethos is a great life insurance company that provides basic term life coverage, as well as comprehensive and permanent coverage you can easily upgrade to. Its fast and easy online application can be done in 10 minutes, so you won’t have to deal with the hassle of talking to agents or being pressured to purchase a policy.
Pros
- No medical exams required
- Lifetime customer support
- Guaranteed level premiums for 10-, 15-, 20-, and 30-year terms
- Easy and fast online insurance application process
- 30-day money-back guarantee
- $20,000 to $1.5 million of coverage for term life insurance
- Simplified underwriting for term life policies
- You can extend your term life insurance after it expires
Cons
- No variable or universal life insurance
- Purchase insurance online instead of over the phone with an agent
- Doesn’t provide coverage in New York