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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.
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.
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.
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.
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.
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