Ethos Life Insurance

Ethos aims to make life insurance accessible and hassle-free for individuals and families seeking financial protection. Let us take a look at the different types of plans and how you can buy these plans online.

What are the Different Types of Ethos Life Insurance?

Ethos life insurance offers the following two types of life insurance plans:

1. Term Life Insurance

   Term insurance plans are the most affordable life insurance plans that offer coverage for a specific term. With this plan, your nominees are guaranteed the death benefit in case of your unfortunate death during the policy term. 

2. Whole Life Insurance

   Whole life insurance plans cover you for your whole life as long as you keep paying the premiums. With these plans, your nominees are guaranteed the death benefits in case of your untimely death. These plans also build a cash value over time, which you can take out in case of an emergency during the policy term. 

Note: Check all the best term insurance plan in India.

How to Get an Ethos Life Insurance Quote?

Getting Ethos life insurance quotes is simple and can be done in three easy steps:

• Get a Quote: Answer a few questions online about yourself to see estimated costs for various policy options.

• Apply in Minutes: Complete the fast and secure online application in about 5 minutes.

• Get Coverage: After submitting your application, Ethos will quickly process it and inform you of your coverage eligibility and rates. If approved, you can activate your coverage immediately.

What Are the Questions I Need to Answer Before Buying Ethos Life Insurance?

When applying for Ethos life insurance, you'll need to answer some basic questions to determine the policy for you:

Age: Ages 20 to 65 are eligible for term policies, while ages 66 to 85 qualify for a guaranteed-issue whole life policy.

Eligibility: You must be a U.S. citizen between the ages of 20 and 85. Ethos operates in all U.S. states except New York and the District of Columbia.

Required Information:

• Driver's license

• Social Security number (for identity verification)

• Personal and family medical history

• Current prescription information

Additional Questions for Term Policies:

• Your health

• Legal and driving history

• Health insurance history

• Employment and income status

• Lifestyle and hobbies

• Drug and alcohol use

This information helps Ethos verify your identity and assess your health without requiring a medical exam, ensuring a quick and smooth application process. If you change your mind at any point, you can withdraw your insurance for life application without penalty. Once coverage is offered, you have a 30-day period to cancel and receive a refund if needed.

How Does Ethos Life Insurance Policy Claims and Payouts Work?

In case of your untimely death during the policy term, your beneficiaries/nominees can file a claim with your insurance provider to receive the death benefit payout. Here’s how it works:

• Filing a Claim: Your beneficiary submits a claim to your insurance carrier.

• Receiving the Payout: Assuming there are no unusual circumstances, your beneficiary will receive an untaxed, lump-sum payment equal to the policy's value. 

What are the Exclusions in Ethos Life Insurance Plans?

There are several reasons why a claim might not be paid:

• Fraud: Providing false information or misrepresentations in your application can lead to claim denial.

• Suicide: If the insured's death results from suicide within the first two years of the policy, the claim may be denied.

Exclusions and details can vary by state, so always refer to your life insurance policy documents or contact the insurer for additional information. Being truthful in your application is crucial to ensure your beneficiaries receive the payout without issues.

Alternate Ways of Buying Term Life Insurance from India

1. Benefits of Buying Term Life Insurance for NRIs from India

   • GST waiver of 18% on the premiums, along with the 5% additional discount on the annual mode

   • Premiums are much more affordable than international term plans 

   • Global coverage on pre-approved cover for family’s financial protection

   • Tele and video medicals remove the hassles of travelling back to India for easy issuance of the policy

   • Special exit benefit allows you to exit the plan early and receive all the premiums back at the termination of the policy

2. How to Buy Term Life Insurance for NRIs from India?

   Here is how you can buy term life insurance for NRI from Indian insurers:

   Step 1: Visit the term insurance for NRI page of Policybazaar

   Step 2: Enter the required details like name, gender, and contact information

   Step 3: Fill in your smoking habits, occupation type, annual income, and educational background

   Step 4: Choose the most suitable term life insurance for NRI and proceed to pay