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I’ve been seeing ads for Ethos Life Insurance claiming really low rates, like $6 a day for $1 million coverage. As someone just starting to look into life insurance for my family, this sounds amazing, but it also makes me wonder if there’s a catch. Has anyone actually gotten these super low rates, and what has your experience been with Ethos? I’m trying to figure out if it’s a reliable and affordable option or if I should be looking elsewhere.
I was procrastinating on getting life insurance, but Ethos made it surprisingly simple. I just “answered some health questions online, no medical exam, and got covered the same day”. While I understand I might be paying a bit more for this convenience, the quick and straightforward process was exactly what I needed to finally get life insurance in place.
I learned that Ethos “operates as a third-party broker, meaning they don’t underwrite their own policies”. Instead, they work with multiple insurers. This makes me wonder if going directly to one of the underlying carriers or using an independent broker who can shop around with even more companies might lead to better options and potentially lower prices.
I’m a healthy 33-year-old man, and despite that, Ethos denied my application. This unexpected denial, even without a medical exam, makes me question the reliability of their online underwriting process and if their “instant approval” is as common as they suggest.
From what I’ve researched on Reddit, Ethos’s term life insurance product “has no conversion or automatic extension option, nor does it offer any of the good chronic and critical illness living benefits that some carriers offer now”. For me, the lack of these features could be a significant downside in the long run if my health changes.
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