Ethos Life Insurance

[helgaemines]

Ethos is an online agency now focused on selling specific Banner Life (L&G in the US) term policies with accelerated underwriting. At some point in late 2019/early 2020 it stopped selling Assurity and laid off sizable staff at its home office last May. It also pivoted to contracting with independent agents to follow up on its online leads. The website explains it this way:
Does Ethos have agents? - Ethos Life

Thank you!

 

[jenx3k]

Agents are still involved. The consumer just doesn't need to talk to them.

Building credibility online involves expertise, authority, and trust (Google's E-A-T process for ranking websites). A lot of that can be done with an informative website, an easy process, and major carriers. Ethos checks all of those boxes.

I talked with Ethos. The agent follows up with each online inquiry and then closes the sell.

 

[helgaemines]

I talked with Ethos. The agent follows up with each online inquiry and then closes the sell.

Hello;

Is Ethos Life Insurance an excellent company to work with?

If you do everything online, prospects probably do not see that they have a need for what you are selling; and -also- the trust, if prospect does not trust in the product, they will not buy the policy.

Any comments?

 

[Danimal]

It sounds like they are trying to "partner" with independent agents who want to offer online application/marketing as a component of their business. I am interested and looking into it further. Haven't started reading contracts yet, but as per phone conversation they are non-captive and do not seek to interfere with existing contracts. I am interested in learning more and curious if anyone on this board has had personal experience working with Ethos as an independent agent?

 

[Cornelius]

Sounds like at some point they will consider charging for leads.

 

[helgaemines]

Sounds like at some point they will consider charging for leads.

Hello;

For what reason do you think they would ever consider charging for leads?

Thank you!

 

[helgaemines]

It sounds like they are trying to "partner" with independent agents who want to offer online application/marketing as a component of their business.

It is right. By partnering with Ethos as an independent agent, you market their products as you regularly do.

Haven't started reading contracts yet, but

I am interested in learning more and curious if anyone on this board has had personal experience working with Ethos as an independent agent?

Ethos products are extremely easy to market - I think it's the easiest thing on the market.
as per phone conversation they are non-captive and do not seek to interfere with existing contracts.

That's how it is. It is not a captive contract and neither does the Ethos contract interfere with your current contracts.

 

[Cornelius]

Hello;

For what reason do you think they would ever consider charging for leads?

Thank you!

Sending referrals to agents. Why not charge? That's basically what other lead vendors do.

 

[helgaemines]

Sending referrals to agents. Why not charge? That's basically what other lead vendors do.

Thank you!

 

[Kevin Gainey]

Pros and Cons of Ethos.

I added them and became appointed with them. They are an okay option for term life their application is simple and really good platform. They offer decent marketing materials and can be really successful with social media ads. They pay 90% of first year okay but there is much better. you get paid on the premium as it is collected so no advance. Downside is they target and market your clients for referrals I was not a fan of that as I like to get my own referrals. And I can't really say that if they target your customer and they get a referral it did not appear to me that you would get the commission for that sale.