You may already have a financial plan for your life. For instance, you might have a monthly budget and an emergency fund for unexpected expenses. But there is another important aspect that may be missing from your plan. That is life insurance.
Many people in the United States do not have life insurance at all. Even if they do, it does not provide adequate protection. That is, the insurance coverage is not enough to provide the necessary financial assistance to the family in unexpected situations.
In this article, Ethos explains how the company offers life insurance in a simple and affordable way. It also highlights some important things to consider before buying insurance.
What is ethos?
Ethos is a life insurance company. Its special feature is that it does not require any medical tests (blood test, doctor appointment, etc.) that are usually done to get insurance.
Ethos calls itself a “no medical exam instant life insurance provider.” That is, you just need to answer some health-related questions online, without undergoing a medical test, and you can get life insurance approval in a few minutes.
By doing this, you can easily get life insurance coverage of up to three million dollars through Ethos, they say.
Ethos offers two types of life insurance.
- Term Life Insurance: This policy is valid for only a specific period of time. For example, the term can be 10 years or 20 years. If the policyholder dies within that period, the insurance amount will be paid to his family or beneficiaries. But after the term ends, the policy coverage will automatically stop.
- Whole Life Insurance: This is permanent insurance. That is, the policyholder will have insurance coverage throughout his life. The beneficiaries will get the amount even if death occurs at any age.
Ethos provides the facility to choose which of these two insurance types is right for you easily and quickly.
Moreover, Ethos has received a 4.8 rating on Trustpilot for its customer trust. More than 90% of the reviews have given a 5-star rating. This demonstrates the widespread appreciation for Ethos’ services.
The best features of Ethos
1.A complete online process
The biggest strength of Ethos is that the entire process of getting insurance happens online. So, it’s easy for those who are busy and don’t want to discuss insurance on the phone.
- Answer a few basic questions and you will get an instant insurance quote.
- The entire application can be completed in 5 minutes. Many people get instant approval.
- There is no medical exam, no appointment with a manager.
- At the same time, you can also get help directly from Ethos agents if you like.
READ ALSO: Ethos Life Insurance: Eligibility Obstacles & Knockouts Guide
2.Free Legal Will and Estate Planning
With some insurance policies, Ethos additionally offers free estate planning tools. The market value of these tools is up to $898.
Through this:
โข You can prepare a will.
โข You can set up trusts.
โข You can appoint Power of Attorney.
In addition to providing insurance coverage, Ethos also assists you in making your property and legal arrangements at no cost.
3.Fast Quote
Ethos provides insurance quotes rapidly. And that’s too high-level a quote, which means an accurate initial price estimate. This accuracy attracts many people to consider taking out insurance. As they say, the quote was very accurate even when we tried it ourselves.
4.Easy Application Wizard
Ethos’ application form is basic. It asks only a few key questions to understand your situation and recommend insurance.
For example:
- Why do you need life insurance?
- Who are your financial dependents?
- When do you need insurance cover?
- How is your health?
- How much debt or mortgage do you have?
- Please provide information such as your gender, smoking habits, and the number of children you have under 18 years of age.
Based on your answers to these questions, Ethos will recommend a suitable insurance policy for you. It will also show you the actual premium rate right away. If you take out the policy on the same day, you’ll know the actual monthly premium.
5.Customer Support Experience
Ethos’ customer support is very helpful. When we asked them for help while applying, they explained things with outstanding patience. They especially answered our doubts about life insurance clearly. Such clarity makes it easy to understand even for first-time insurance buyers.
6.Done in 20 minutes
Usually, many people think that getting life insurance is very complicated and time-consuming. At Ethos, we complete the entire processโapplication, assessment, and approvalโin just 20 minutes. This is a giant benefit for customers who want speed and simplicity.
7.No Medical Exam
Another special feature of Ethos is that no medical exam is required. You only have to answer a few questions about your health and lifestyle (smoking, exercise, etc.).
However, if you already have a serious illness, or if you work in a high-risk job, Ethos may ask additional questions. The premium (monthly installment) for such people is likely to be a little higher.
Things to watch out for
1.Per-day pricing
Ethos insurance prices are often shown as per-day costs (e.g., \$2 per day). This makes the price seem cheap. But most of us plan our budget based on monthly costs. So, it would be clearer if it was shown as monthly pricing.
2.Limited Customer Service Channels
Ethos does not have many customer service channels. You can mostly contact them by phone. For more information:
- ๐ 1-888-384-6754
- ๐ง support@ethoslife.com
3.Not available in New York
New York State residents cannot get life insurance through Ethos. However, the Ethos website will recommend alternative insurance options to residents there.
People’s reviews
Ethos life insurance is very easy and fast to get. Both term life insurance and whole life insurance are available in a few minutes.
Overall, Ethos has been given a 4.5 / 5 star rating. This means 4.5/5-nsidering the service, simplicity, and speed, it is said to be a good choice for most people.