LIFE · CIK 0001788451
What Ethos Technologies Inc. told the SEC could break it.
2 self-disclosed vulnerabilities, pulled from its own filings, each in the company’s words, with the source. This is the risk register almost nobody reads.
A limited set so far, we surface every cited disclosure we’ve extracted for LIFE. More may follow as additional filings are processed.
In its own words
What could break it.
Customer concentration
- top-3 carriers ~88% of revenue (3 agencies ~31%)high
Revenue is highly concentrated in three carrier relationships (Ameritas, Banner Life, TruStage) at ~88% of total revenue in FY2025 (98% in FY2024); separately, ~31% of revenue flowed through three agency relationships.
“For the years ended December 31, 2024 and 2025, our top three carrier relationships, which are Ameritas, Banner Life (formerly Legal & General America), and TruStage, represented approximately 98% and 88%, respectively, of our total revenue.”
SEC filing →As of 2026
Regulatory & policy
- AML/OFAC sanctions & insurance-marketing rulesmedium
Subject to AML and OFAC economic-sanctions laws barring issuing policies to sanctioned persons/jurisdictions, plus TCPA telemarketing and state privacy rules governing how it contacts and underwrites consumers.
“We are also subject to anti-money laundering, or AML, and economic sanctions laws and regulations, including those administered by the U.S. Department of Treasury's Office of Foreign Asset Control, or OFAC, that prohibit issuing policies to certain sanctioned persons, entities, jurisdictions, or business sectors and may require reporting of certain information and transactions to OFAC.”
The hidden graph
Who it depends on, and who depends on it.
Relationships surfaced from filings, including ones disclosed by the other side, which is how the non-obvious ones come to light.
Its suppliers
TruStage
“For the years ended December 31, 2024 and 2025, our top three carrier relationships, which are Ameritas, Banner Life (formerly Legal & General America), and TruStage, represented approximately 98% and 88%, respectively, of our total revenue.”
Cited →Ameritas
“For the years ended December 31, 2024 and 2025, our top three carrier relationships, which are Ameritas, Banner Life (formerly Legal & General America), and TruStage, represented approximately 98% and 88%, respectively, of our total revenue.”
Cited →Banner Life (Legal & General America)
“For the years ended December 31, 2024 and 2025, our top three carrier relationships, which are Ameritas, Banner Life (formerly Legal & General America), and TruStage, represented approximately 98% and 88%, respectively, of our total revenue.”
Cited →
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