This topic provides complete details about the products of two life insurance companies, Ethos and TruStage. That is, it details the types of policies they offer, who is eligible, age limit, coverage amount, term length, etc.
Available Products
Ethos Term Life
This is a term insurance plan. It provides coverage for a specified period (10, 15, 20 or 30 years). The coverage ends after the term ends. It is suitable for people in good health who are looking for more coverage at a lower premium.
Ethos IUL
IUL is Indexed Universal Life Insurance. It is a type of permanent life insurance. In this, in addition to the insurance coverage, investment opportunities (linked to stock market indexes) are available. It is for those who want to save/grow along with long-term protection.
Ethos Final Expense
This is final expense insurance or burial insurance. A small sum is assured to cover expenses related to death, including funeral and memorial costs. Suitable for senior citizens.
TruStage Term Life
This is a type of term insurance. It provides coverage for a fixed period (with renewable options). Good for middle-aged people looking for family protection at a low premium.
TruStage Advantage Whole Life
This is a whole life insurance plan. Valid for life. The premium remains constant, and cash value builds up. For those who want long-term protection and savings.
TruStage Guaranteed Acceptance Whole Life
This is a type of whole life insurance that guarantees acceptance regardless of health status. People with poor health can get a policy even without a health check. Suitable for senior citizens and those who are not eligible for other policies.
Ethos Term Life โ Prime
A Prime type of term life plan. The plan offers more coverage at a better rate to individuals with good health and financial status.
Ethos Term Life โ Spectrum
Spectrum is a flexible type of term life insurance. Coverage levels vary depending on the age, health, and financial status of the customer. Offered in various bands.
Ethos Term Life โ Select
Select Plan is a term life option for those with specific eligibility. Those with normal health or financial profiles are also eligible.
Insurance companies
The ones mentioned here are insurance companies that offer or support Ethos and TruStage life insurance products. Behind each policy is a carrier (insurance company). They are the ones who actually provide insurance coverage and settle claims.
LGA (Legal & General America)
It is one of the largest life insurance companies in the United States. It is famous for providing high coverage at low premiums.
Ameritas Life Insurance Corp.
It is an old and trusted life insurance company. It offers term life and permanent insurance products.
Senior Life Insurance Co.
A company that offers insurance products for senior citizens. It specialises specifically in final expense insurance and burial insurance.
CMFG Life Insurance Company
A company that supports TruStage Life Insurance plans. It plays a major role in providing insurance products through credit unions.
MEMBERS Life Insurance Company
It is also a part of the CMFG group. It offers permanent life insurance and retirement-related insurance solutions.
Customer Profile
Ethos Term Life / TruStage Term Life
These policies are for people who are in good health. Even if they have chronic diseases, they are not a problem if they are properly controlled. Those who have regular medical check-ups are eligible for this.
Ethos IUL / TruStage Advantage Whole Life
This type of policy is suitable for people in good to moderate health. However, very serious or progressive diseases, even if they have been treated in the last 10 years, are not eligible.
Ethos Final Expense / TruStage Guaranteed Acceptance Whole Life
This is for people in moderate to poor health. However, those who are currently completely disabled are not eligible.
Ethos Term Life โ Prime / Spectrum / Select
These policies are suitable for people in good to moderate health. They should not be disabled. Some products also provide coverage for those with poor health.
Financial and Credit History
Ethos Term Life / TruStage Term Life
These policies are mostly suitable for those with excellent or good credit scores. Their financial situations should be stable and favourable.
Ethos IUL / Ethos Term Life Spectrum / TruStage Advantage Whole Life
These policies can be applied for regardless of the credit score (good, average or poor). However, they will evaluate the CBI score according to the age of the customer. That is, the importance given to the credit score also changes as the age increases.
Ethos Final Expense / TruStage Guaranteed Acceptance Whole Life
These policies are suitable for those with poor credit history. Even those with average or poor credit history are eligible for these plans. Also, these are available to those who are not eligible for other insurance policies due to their credit score.
Vehicle (Licence) Terms
- When applying for life insurance, the driving history of the customers is also considered in the assessment. Because driving habits show their overall risk.
- The first condition is that the customer must have a valid driving licence. The licence must not have been revoked.
- Major Violations โ for example, driving under the influence (DUI/DWI), reckless driving, driving at high speed (above 90 mph), if someone was injured in an accident, etc. โ these should not have occurred in the last 5 years.
- Minor Violations โ normal speeding, careless driving, accidents without injury, etc. โ can have occurred in the past 3 years. But if it is more than that in the last 3 years, there will be a problem.
- Some insurance products, especially Final Expense or Guaranteed Acceptance Whole Life policies, do not require a driving record. These are offered without checking your health or driving license.
Age Eligibility
Ethos Term Life, IUL, TruStage Term Life
These insurance plans are available to people between the ages of 20 and 65. They are suitable for working-age people.
Ethos Final Expense
This plan is also available to people between the ages of 20 and 65. It is suitable for middle-aged and senior citizens who need coverage for death expenses.
TruStage Advantage Whole Life
Available to people between the ages of 18 and 69. Since it is a whole life insurance valid for the entire life, it is also suitable for young people looking for long-term protection.
TruStage Guaranteed Acceptance Whole Life
Available to people between the ages of 45 and 80. It does not require a health check. You can get a policy even if you are older and have poor health.
Ethos Spectrum / Select / Prime
A policy can be taken from 18 to 85 years of age. It has a very wide age range. So everyone from young to old is eligible.
Coverage
Ethos Term Life
- Ages 20โ50: Minimum $100,000 to maximum $2,000,000 coverage.
- Ages 51โ60: $100,000 to $1,000,000.
- Ages 61โ65: $100,000 to $500,000.
Ethos IUL (Indexed Universal Life)
- Ages 20โ45: $50,000 to $350,000 (up to $500,000 if you are in the Preferred Plus Non-Tobacco category).
- Ages 46โ65: $50,000 to $350,000.
Ethos Final Expense
- Coverage of $20,000 to $150,000.
TruStage Advantage Whole Life
- $5,000 to $100,000 (varies based on age).
TruStage Guaranteed Acceptance Whole Life
- $2,000 to $20,000.
- However, if death occurs within the first 2 years, the benefit is โpaid premium + 10%โ.
Ethos Term Life Spectrum / Prime / Select
- Preferred: $1,000 to $20,000.
- Standard: $1,000 to $20,000.
- Band 1 (ages 25โ69): $5,000 to $100,000.
- Band 2 (18โ69 years): $101,000 to $300,000.
- Over 70 years: $5,000 to $50,000.
Overall, the age limit and coverage limit will vary depending on the insurance plan you choose. Term life plans offer the largest coverage (up to a million dollars), while whole life and final expense plans offer the smallest coverage (a few thousand to a few hundred thousand dollars).
Term Length
Ethos Term Life, IUL, Final Expense Insurance
- Those aged 20 to 50 can get insurance for a period of 10, 15, 20 or 30 years.
- Those aged 51 to 60 can only get insurance for a period of 10, 15 or 20 years.
- Those aged 61 to 65 can only get insurance for a period of 10 or 15 years.
TruStage Term Life Insurance
- It is renewable annually and can be continued up to the age of 80.
Whole Life and Guaranteed Acceptance Whole Life Insurance
- There is no term length for these. This insurance is valid for as long as a person lives, for the rest of their life (Lifetime Coverage).
Simply put, term life insurance is valid for a specific period, but whole life insurance is enforceable for the rest of their life.
Ethos and TruStage Life Insurance companies do not offer their insurance products to everyone in the same way. They offer different types of insurance plans, considering the age of the customers, their health, their financial situation such as their income and expenses, and the type of insurance they need.
That is, these companies give many options so that they can choose the right insurance plan for them according to their individual circumstances.