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I’m 36 years old, and I actually got approved for $1 million through Ethos for $109 per month. While I’ve seen some comments suggesting this might be higher than what I could find elsewhere with a medical exam, the online process was simple, and I was happy with the rate I received without the hassle of an exam.
I saw an ad promising a low rate, but when I tried to get a $1 million policy for 30 years, the best Ethos offered me automatically was a 10-year policy for $300,000 at a monthly cost of $160. This significant difference from the advertised rate makes me feel like their initial claims can be very misleading for most people.
As a broker, I can tell you that while Ethos is quick and easy, they “won’t likely offer you the best rate”. My clients who have come to me after getting quotes from Ethos have “always found a lower cost policy for the same amount of coverage” through other insurance companies.
I went with Ethos because I could get $1 million coverage approved within 15 minutes. Even though some agents say Ethos might cost a little more compared to fully underwritten policies, the speed and convenience of getting coverage immediately without a medical exam were worth it to me for the peace of mind it provided right away.
When I compared Ethos to other options through an independent broker, I found a policy that was 20% cheaper for the same coverage from Banner Life. This shows me that even if Ethos’s initial quote seems good, exploring other carriers or using a broker can lead to significant savings.
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