Life insurance is a sticky endeavor for many of us. First of all, it feels morbid. Who wants to talk about death? Or benefitting from someone else's? It can lead to all kinds of uncomfortable conversations and decisions.
It can also be really hard to obtain. Many life insurance brokers put the pressure on, trying to get you to buy more than you need for the benefit of their own commission check. There can be lots of back-and-forth with an agent and the costs and fees are not always transparent. The process can take up to ten weeks to get coverage, and the different plans can feel confusing. Not to mention, it often involves doctor visits and probing questions.
Ethos is a new company with the goal of making life insurance simple and accessible for the modern consumer. They've used the technology and interface that younger generations are comfortable with, and created a website where anyone can apply for term life insurance 100% online for free, in as little as 10 minutes. There are no pushy salespeople, no hidden fees, and for 99% of us, no medical exam is required. Most healthy people will be approved instantly, and the best part? There is no upsell. You are in the driver's seat.
Ethos provides the benefits of a modern consumer experience and the security of a major life insurance company. Ethos has partnered with Assurity, an “Excellent” rated life insurance company with 130 years of experience. Prices are competitive and claims are paid quickly.
Wondering if you need life insurance? Here are a few tips:
4. Who should get covered? How does Ethos help my family?
a. The need for life insurance depends on what stage of life you are in.
b. We believe you should get covered if you have someone you want to protect
financially in the event you pass away, such as a spouse or children.
c. Households with Children and One Income
i. When the household is dependent on one wage earner, there is a great
need for life insurance that will financially provide for the future.
ii. Households with young children and one income are in the greatest need
of life insurance that will help keep finances intact in the event of an
iii. In this situation, it’s important to address the need for life insurance as
soon as possible.
d. Households with Children and Two Incomes
i. In this case, the death of either parent presents a financial hardship that
could be significantly alleviated with life insurance.
ii. Both parents need coverage that could replace their income for several
years, and where possible, pay off a mortgage, take care of outstanding
debts, and provide for the kids’ future educational needs.
e. Married Couples, No Children
i. If both spouses are employed and contribute equally to the household’s
finances, they may choose to wait until they purchase a home or decide
to have children before buying life insurance.
ii. However, if the death of a spouse would cause financial hardship, buying
life insurance to alleviate that strain is a smart move.