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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’ve seen many people on Reddit complain that the initial quotes from Ethos are never what they end up being when approved. This makes me think that advertised low rates might be a bait-and-switch tactic, so I’d be cautious about believing that initial cheap quote.
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.
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.
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.
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