Frequently Asked Questions
What does life insurance cover?
Your policy can help your loved ones in their greatest time of need. It can help cover some of life’s biggest expenses, like a home mortgage, debt, your children’s college tuition, and it can also replace lost income. Your policy can also help cover everyday expenses — anything your beneficiaries need, really. Ultimately, it’s up to them to decide how to use the payout.
How much life insurance do I need?
A common and easy way to come up with a coverage estimate is to multiply your annual income by 10. Another way is to calculate your long-term financial obligations and then subtract your assets. The remainder is the gap that life insurance needs to fill.
Does coronavirus impact life insurance?
Life insurance does cover deaths related to COVID-19, and life insurance rates are not impacted by the pandemic. We’re not treating this any differently than we would any other illness or travel advisory. You can still apply for life insurance online with Ethos. If your application is approved, you’ll be considered covered as soon as your first premium payment is made. Learn more
What if I have a policy through my employer?
You may already have some life insurance coverage from your employer. However, that policy might only provide a fraction of the coverage you actually need. Employer-sponsored policies typically offer coverage that is about 1-2× your annual salary. However, financial experts recommend having coverage that is about 10× your salary. This disparity can result in a large gap in protection if you’re solely relying on your policy through work — which is why many people buy individual term policies to supplement the coverage you receive through work.