The Difference Between Ethos and the Traditional Life Insurers

How is Ethos different from traditional insurers?

Not an insurance expert? Don’t worry—most people aren’t. With a traditional insurance provider, clients typically start with an agent meeting, fill out a paper application, and schedule a medical exam (including a blood and urine test), often weeks in advance. Then, they usually have to follow that up with evidence. Think bank statements, medical records, and a background check. On top of all that, they might have to submit all these documents via snail mail. It could take months before they hear back on whether your application is approved or not.

At a glance, life insurance may seem intimidating, even painful, due to the mountain of paperwork, medical exams, and phone calls or in-person meetings your clients may face when applying through traditional providers. To top it off, it can be scary for clients to think about their family’s future without them, so even having a conversation about life and death can be challenging.

Sounds stressful, right? We thought so too. That’s why we created Ethos, to make applying for life insurance much more simple for you and your clients.

How does Ethos work?

With Ethos, this same process has been streamlined to a quick online application. Thanks to the power of predictive analytics, Ethos can provide a personalized estimate in a few seconds.

First, we gather a few bits of information about your clients to provide an initial life insurance quote. Based on what we learn about your clients, we will offer them three policies that we think will fit their needs best. You can always guide them to personalize their coverage amounts as well. After they select coverage, they fill out the online application, which they can finish in about 10 minutes. And then boom. Their application is done.

Your client's application will be reviewed and they'll get an approval decision—most applicants receive one on the same day. While we do ask them a few medical questions on the application, Ethos does not require medical exams, saving you and your clients the time and hassle of going through that particular process.

When your clients' application is approved, a licensed Ethos expert will reach out to make sure all the details are buttoned up and make any adjustments to their coverage (if they want) before their policy is issued.

And then your clients will be covered! You’ll have peace of mind knowing your client and their family's future is protected.

What does life insurance cover?

Any type of life insurance can be used to protect clients' loved ones and also safeguard their financial legacy. To understand the different types of life insurance, read about the differences between term and permanent life insurance.

Life insurance payouts can be used by their family to help cover any and all of life’s expenses, namely a home mortgage, car payments, or student loan debt. They can apply it to future expenses like their children’s college tuition. It can also be used to help cover day-to-day expenses, like groceries and childcare.

Does your client have a business or someone else who depends on them financially? Life insurance is a great option to help make sure the client's family can stay afloat financially in case anything happens to them. And the best part is, it’s never been easier to apply for a policy. Our application can be completed in minutes, and our process is streamlined to get your clients covered quickly.

What if your clients already have coverage?

Your clients may already have a life insurance policy through your employer and are weighing the benefits of buying a personal policy. And if it was a hassle for them the first time, then why would they want to undergo the same process?

Consider the fact that their employer-provided policy might not be enough to cover their loved ones, especially if their household grows or their financial goals change. And if they leave the company, that coverage might not stay with them. Financial experts generally recommend that people apply for coverage at least 10X their annual salary. Most employer-sponsored policies offer only 1-2X your salary, leaving a potential gap that could overburden the family if your client suddenly passed away. That’s why many people buy personal policies to supplement the coverage they receive through work. At Ethos, we offer term life insurance policies of up to $1.5 million and term lengths between 10 and 30 years. We also offer whole life insurance policies for applicants 66 and above, with a death benefit of up to $25,000.

If your client already has life insurance through work, double-check that it provides enough coverage for them and their family. For a quick gut check of their life insurance needs, try our handy coverage calculator.

How do I get started?

You can sign up to be an agent and get started in the agent portal. Sign up here.