Term life insurance policies

Term life insurance is a simple and affordable way to provide financial protection for your loved ones in the event of your death. Because they wouldn’t just lose you—they’d lose all the financial support you provide.
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Term life insurance
What is it and how does it work?

Term life insurance is the most simple and affordable life insurance option. It provides coverage for a set period of time or “term” (typically 10–30 years), and is designed to protect your dependents during that term. If you pass away during the term period, your beneficiaries receive a cash payment referred to as the “death benefit” to cover expenses or income loss related to your passing.

Term life insurance with Ethos might be right for you if:

  • You need to replace your income over a specified period of time (like raising children or paying off a mortgage)
  • You need to cover short-term financial responsibilities such as a loan or credit card debt
  • You need additional coverage temporarily, such as during child-raising years or starting a business
  • You want the most affordable coverage
  • You want a more streamlined and straightforward process
What’s the difference between term and whole life insurance?

The main differentiating factor of whole life insurance is that it lasts for your entire life and can be used as an investment vehicle—unlike term policies, which expire after your chosen length and have no investment component. Some insurers invest your whole life premium payments and the interest earned on those investments goes back into your policy as accrued cash value. For these reasons, whole life insurance policies typically cost 5-15x more than term policies for the same amount of coverage.

Whole life insurance is a good option for those with complex financial situations, or someone seeking the security of coverage for the remainder of their life. Term life is a good fit for those who want the most affordable coverage or who need to replace their income over a certain period, for example until their children are no longer dependent or the mortgage is paid off.

Backed by giants

As a licensed producer and third-party administrator, Ethos works with some of the industry’s top life insurance carriers and reinsurers to sell simple, affordable policies, including Legal & General America, Ameritas Life Insurance Corp., AAA Life, TruStage®, and Munich Re. Ethos has streamlined the application process with predictive modeling and proprietary technology to make it easier for customers, and we leave the actual insuring to the industry giants that have paid out billions of dollars in claims.

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Why purchase with Ethos?
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Expert advice
You don’t have to talk to an agent if you don’t want to. But if you do, our team of licensed agents are standing by, happy to answer any questions you have. They aren’t paid on commissions, so you won’t be upsold. They’re here to help find the right life insurance policy for you.
flexible
Flexible coverage
Get anywhere from $50,000 to $1.5 million in protection. Choose between 10, 15, 20, and 30-year terms.
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Fast process (no medical exams for most)
Our 100% online and hassle-free process makes it easy to apply. What traditionally took weeks can now be done in minutes, so you can focus on what matters. Most applicants don't even need a medical exam.
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Free-look, money-back guarantee
If you’re not happy with your policy in the first 30 days for any reason, we’ll refund your payment in full. After that, you are also free to cancel your policy at any time if it doesn't work for you, with no cancellation fees.
Simplified issue vs. fully underwritten
Ethos offers term life insurance policies with various levels of underwriting. Here’s a quick look at the differences between each, and what that means for you:

Simplified issue:

Our term policies with Ameritas and TruStage are simplified issue, which means the application process is simplified. The underwriting decision is instant, and based solely on third-party data pulls and the applicant’s responses to the questions within the application. No medical exams necessary.

This type of life insurance may be right for you, particularly if:

  • You need life insurance, but you aren’t sure you’d qualify for a traditionally underwritten policy
  • You want a simple process without medical exams or lab tests
  • You thought you couldn’t get life insurance because of your age or health

Fully underwritten:

Our term policies with Legal & General, America are fully underwritten. Traditionally, most fully underwritten policies require applicants to fill out a full application and take a medical exam. However, we don’t require a medical exam from most applicants.

This type of life insurance may be right for you, particularly if:

  • You’re in good health
  • You’re looking for life insurance with a higher death benefit
  • You don’t mind a longer application process
FAQs
What does a policy cover?

It’s ultimately up to your beneficiaries to decide how to use the payout. People often use it to help cover things like:

  • Home mortgages or rent
  • Lost income
  • Loans & debt
  • Children’s education
  • Living expenses
  • Funeral costs
How do policy claims and payouts work?

In general, it’s simple for your beneficiaries to file a claim and receive the payout. If you pass away while your coverage is in force, your beneficiary can file a claim with your insurance carrier, and the carrier will work with them to issue the death benefit payout. Your insurance carrier will be identified on your policy documents. Assuming there are no unusual complications, your beneficiary will receive an untaxed, lump-sum payment for the value of the policy (the death benefit). For example, if you purchase $1 million in coverage, your beneficiary will receive a tax-free $1 million lump-sum payout.

Is there a chance the payout won’t be paid?

A claim may not be paid out if underwriting finds that parts of the application were answered untruthfully or if the claim is the result of death by suicide within the first two years of the policy being in force.

What happens when my term ends?

If you do not pass away during your term, you have a few options when your term ends:

  • You can apply to extend your term to ensure you always have coverage.
  • You can apply for a new policy with a longer or shorter term, with the same, or more, or less coverage.
  • You can elect to not get another policy if you determine you no longer need the financial protection.
Have more questions?

Search for answers on our full FAQ page.

How to purchase a policy
1
Choose coverage
Choose a policy that’s right for you. Ethos offers a range of coverage and term length options, so you can personalize your coverage to fit your needs.
2
Apply online
After you choose your plan, complete our online application. It’s simple, straightforward, and it only takes about 10 minutes.
3
Activate your coverage
Once your application is submitted, we’ll process the information to provide you a quick (sometimes instant) decision on coverage eligibility and your rate. If approved, you can activate your coverage immediately.
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Adjust the coverage amount and term length to find a plan you like. Then apply online (with no obligations) and get your real rate.
The estimated monthly rate for this policy is:
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Coverage amount
$550,000
 
 
 
Term length
10 years
 
 
 
 
Please note that all prices quoted are subject to change, including due to underwriting.
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