Life insurance is an important financial protection plan for the family. That is, it helps the family to get financial security in unexpected situations.
Today, many companies offer life insurance services. Among those companies, the one that has been talked about a lot recently is Ethos Life Insurance.
So, naturally, a question arises among people:
“Is Ethos Life Insurance really good? Should I take it?” The answer to this can be easily and clearly understood.
What is special about Ethos Life Insurance?
1.Quick Application
Ethosโs biggest strength is its simple application process. Even without a medical examination, you can get approval for an insurance amount of up to one million dollars (about eight crore rupees).
2.Modern Technology
Ethos uses modern technology to make its underwriting decisions. Therefore, policy approval is available very quickly.
3.Price (Premium)
Ethosโ premium price is generally lower and more reasonable than its competitors. For example, a 30-year-old non-smoking male can get a million-dollar coverage for only $25 to $37 per month.
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4.Customer Rating
Ethos Life Insurance has a high score of 4.8/5 on Trustpilot, which shows customer trust.
5.Non-commissioned agents
Ethos does not have agents who work on a commission basis. Therefore, they will not try to force you to sell unnecessary policies.
6.Support from trusted companies
Ethos insurance comes with the support of large and trusted companies like TruStage, Legal & General, and Emeritas.
Disadvantages of Ethos Life Insurance
Age Limit
Term insurance offered by Ethos is only available up to the age of 65. Whole life insurance starts at the age of 66. Therefore, it is not easy for older people to get it.
Fewer Policy Riders
Ethos policies have fewer additional facilities (riders). So, there is no facility to customize the policy according to individual needs.
Not available in New York
Ethos Life Insurance is not currently offered in the state of New York. Residents there cannot use it.
Customer Support
Ethos offers customer service only through email. There is no phone support. Similarly, claims must be made only online.
Important Note: Ethos Life Insurance does not provide direct customer support over the phone for term life insurance policyholders; they can only contact them through email or online. However, only whole life insurance policyholders are provided with a phone support number.
That too is not available all the time; they can only be contacted by phone during special working hours. That means there is no phone support for term life insurance, only for whole life insurance, and it is available at certain times.
Additional Benefits
Large Coverage Without Medical Exam: When you buy a term life insurance policy from Ethos, you can get coverage of up to $2 million (about Rs. 16 crore) without even having to undergo a medical exam.
Free Estate Planning Tools: Ethos offers an additional service called estate planning tools for free to its customers who buy insurance. This helps in future asset management and asset distribution to heirs.
Conclusion
Ethos Life Insurance is the right choice for you if you are looking for a quick and hassle-free application process. Also, it is very suitable for those who are looking for good coverage at a low cost.
However, if you want to customize the policy to your personal needs or expect traditional customer support (help over the phone), you may need to look at other insurance companies.