Bestow Life Insurance is a relatively new provider (D2C Life Insurance Platform)— offering an entirely online experience, with no medical exam. A process that used to take weeks can now be done in the same day, without leaving the comfort of your home or office.
This Bestow Life Insurance review can help you decide if the company is a good fit for you and your life insurance needs. We aim to provide comprehensive reviews to save you time and money.
Here’s What You Need to Know About Bestow Life Insurance
Bestow Insurance offers term life insurance for individuals and families. If you’re a U.S. citizen, between the ages of 18 and 60, and in generally good health, you can get coverage in about 10 minutes starting at $10 a month. Choose from 10- to 30-year term and up to $1.5 million in coverage as part of your estate plan.
Pros and Cons of Bestow Life Insurance
Pros
- No medical exam: More and more people are choosing to avoid the hassle of a medical exam to purchase life insurance. Bestow offers term life insurance coverage and no medical exam is required for a qualifying applicant.
- Completely online process: If you don’t want to talk on the phone or have to schedule meetings to purchase life insurance, Bestow offers a 100% online experience. But, you can call or live chat with a representative if you need to.
- Non-commissioned representatives: If you want to speak with a Bestow Life Insurance representative, don’t worry about being sold. They all work on salary and not commission, so the reps have your best interest at heart and can help you find the right coverage for your situation.
- Get approved in 10 minutes or less: Thanks to artificial intelligence, Bestow Life Insurance is able to offer lighting-fast approvals in 10 minutes or less. This includes the quote and application process, broken up into four easy-to-navigate sections.
- Affordable rates: Bestow Life Insurance rates start at just $10 per month for the best qualified applicant. Though your rate will differ based on your health, age, and coverage needs, you can still get affordable term life insurance the same day you get a quote
Cons
- Only term life insurance: Though term is the most bought type of life insurance, some people still want options for whole and universal life. At Bestow, you can only get term life insurance coverage up to 30 years.
- Coverage only up to $1.5 million: Bestow has recently increased its maximum term life insurance coverage to $1.5 million.
- No Life Insurance Riders available: Though this may change in the future, Bestow Life Insurance offers only term life insurance with no options for riders. If you want a child term rider, accidental death, accelerated death benefit, or other common riders, you’ll have to look elsewhere.
- No option to convert your Bestow Life Insurance policy to a permanent policy if you have a change of health. You may have to go without life insurance if your health changes for the worse once your level term period expires.
How is Bestow Life Insurance Different?
Bestow offers an entirely online experience, from quote to finalizing the application and receiving your life insurance policy. Bestow uses an in-house underwriting platform to speed up the process, providing you real rates based on your risk profile without the need for a medical exam. It estimates time from applying to decision takes about 10 minutes. Bestow Life is also unique because it offers a referral program so policyholders, influencers, and other individuals can earn rewards for referring others to Bestow.
What Types of Insurance Can You Purchase from Bestow Life Insurance
Bestow offers what the overwhelming majority of life insurance purchasers want – Bestow term life insurance. This type of life insurance is the most affordable, allowing people on a budget to get more coverage for less.
What Policies Does Bestow Insurance Offer
At Bestow Insurance, you can choose from Bestow term life insurance for 10-, 15-, 20-, 25-, or 30-years of coverage. Coverage begins at $50,000 and you can choose any amount up to $1.5 million.
A Brief History of Bestow Life Insurance
Bestow is on a mission to “help people protect their people” through the sale of term life insurance. Like other companies offering accelerated underwriting, Bestow Insurance has set out to disrupt the traditional underwriting process which can take weeks, including an invasive medical exam.
Founders Melbourne O’Banion and Jonathan Abelmann have worked to make the life insurance buying process faster and easier, and of course, more affordable than traditional markets. Using artificial intelligence and big data, you can apply for coverage and be approved in about 10 minutes
Bestow Insurance Products
Bestow term life insurance coverage online with no medical exam for anyone who is approved. While not everyone will qualify, those who do can get Bestow term life insurance of up to $1.5 million and 30 years of coverage for their beneficiary to use when they pass on.
Bestow Insurance Coverage Details and Guidelines
Read on to find out who issues Bestow Life’s policies, how to get an online quote, and how to get a low rate.
To qualify for Bestow, you should be able to meet these guidelines:
- Be a U.S. citizen and reside in the States
- Either employed, a student, or a full-time homemaker
- Be in general good health
- 10-year term: between the ages of 56-60
- All terms: between the ages of 18 to 40
Anyone with the following health conditions will not qualify:
- Certain cancers
- Heart disease
- Stroke
- Organ transplant
- Diabetes before 40 (except gestational diabetes)
- Alcohol or drug abuse
- HIV
- Kidney disease resulting in dialysis
Who Issues Their Policies
Bestow Life Insurance policies are issued by North American Company for Life and Health Insurance. North American has an Excellent (A+) rating for financial strength from A.M. Best.
How Do I Get An Online Quote from Bestow?
As soon as you load the Bestow website, you’re welcomed by two buttons: “Get a Quote” and “Apply now.” To get a quote, provide a few key pieces of information:
- Gender
- Birthday
- Height
- Weight
- Zip code
Check the box if you currently use nicotine and then click on “Get Estimate!”
How Do I Get a Low Rate?
To get a low rate with Bestow Insurance, you should be young (but at least 18) and in generally good health. You should also not have any of the health conditions listed above. The healthier and younger you are, the better your rate with Bestow will be.
Bestow Term Life Insurance – Sample Monthly Quotes
| Coverage | Age 30 | Age 40 | Age 50 |
|---|---|---|---|
| $250,000 – 10 Year Term | Male – $14.96 | Female – $16.63 | Male – $44.75 |
| $500,000 – 20 Year Term | Male – $24.75 | Female – $27.25 | Male – $73.50 |
Bestow Life Insurance – Pricing – Sample Quotes
It is unlikely you will be approved for Life Insurance by Bestow, if you are not in perfect health. Even with mild health conditions, you may be told you do not qualify.
If you are NOT in perfect health —or not the ideal Bestow Life Insurance applicant, for any other reason— we can help you get quotes from multiple carriers that are more suited to your individual circumstances.
GET A FREE INSTANT LIFE INSURANCE QUOTE
Call Anytime for Assistance!
888-681-4952
Who is Bestow Insurance For?
Bestow is for generally young and healthy U.S. citizens. You must be between the ages of 18 and 60, with no major health concerns.
WHO IS THE IDEAL BESTOW APPLICANT?
Someone in excellent health between 18- and 40-years-old will get the best rates for term coverage with Bestow Life Insurance.
WHAT IF I’M NOT PERFECTLY HEALTHY?
It is unlikely you will be approved by the Bestow algorithm, if you are not in perfect health. Even with mild “health conditions” you may be told you do not qualify. So —if you are not perfect health OR not the ideal Bestow Life Insurance applicant, for any other reason— we can help you get quotes from multiple carriers that are more suited to your individual circumstances.
How To Apply For Life Insurance with Bestow
Guaranteeing a 100% online process, you can apply for Bestow insurance directly on their website.
SIGNING UP FOR BESTOW LIFE
Bestow boasts a process of 10 minutes or less from getting a quote to being approved for coverage. The process is done entirely online, but you can also chat live with a non-commissioned representative or call the company directly at 1-833-300-0603.
HOW DOES THE APPLICATION PROCESS WITH BESTOW LIFE WORK?
The Bestow Life Insurance application process is broken down into four parts:
- Provide your address, email, and social security number.
- Provide details about your lifestyle, including citizenship, medical history, and hobbies.
- Choose your beneficiaries.
- If approved, choose the term length and coverage amount. Enter your credit card information to bind the policy with instant coverage.
Financial Strength and BBB Ratings
Bestow Life Insurance Company has an A+ rating with the BBB.
North American Company for Life and Health Insurance, the company who issues Bestow’s life insurance policies, has an A+ rating with A.M. Best, Standard & Poor’s, Fitch Ratings, and the BBB.
Since financial strength translates to a company’s ability to pay out claims, the ratings for both Bestow Life Insurance and North American Company show, in the event of your passing, your beneficiary will be paid on time and in full.
Bestow Life Insurance Reviews and Complaints
Bestow Life Insurance has 4.8 stars after 523 reviews on Trustpilot and with Consumers Advocate.
After 8 ratings on Consumer Affairs, Bestow has 5 stars.
However, after 4 reviews on BBB, Bestow Life Insurance has only 1.75 out of 5 stars.
Reviewers complain of not qualifying for coverage and others advise of high rates when they do qualify.
Have you had any first-hand experience with Bestow Life Insurance? Whether it was positive or negative, we’d really like to hear about it! Share your story…
Bestow Life Insurance Frequently Asked Questions
Are Bestow Life Insurance rates competitive?
YES. Bestow term life insurance rates aren’t the lowest available, but they are consistently better than average when compared to those of the top insurers.
What does Bestow Life Insurance Reviews say about their customer service?
Bestow Insurance Reviews show that they have good customer service. Their website portal is very efficient in handling the life insurance application / underwriting process. They also provide a toll free number if you need to talk to a customer care representative.
Will applying to Bestow Insurance hurt my credit score?
No. Insurers look at the data behind your credit score (like timeliness of payments or if you’ve filed for bankruptcy), but not your credit score itself. The request for this data is only a soft credit inquiry and doesn’t impact your credit.
Are there many Customer Complaints about Bestow Life Insurance?
For those who ‘fit their profile’ and get approved for coverage, it will be a quick and easy buying experience… with few to no complaints about the ‘process itself’. Of course, we are NOT ALL under 60-years-of-age and in excellent health, and NOBODY likes rejection!!
As noted above: reviewers complain of not qualifying for coverage and others advise of high rates when they do qualify.
Is Bestow Insurance website good, safe and reliable to use when buying life insurance?
So far, their platform appears safe and secure. However, caution should be taken before entering your personal information on any website.
What happens when the “term” is over?
What happens if Bestow can not offer me coverage?
If Bestow can not offer you coverage —due to age, health, etc— their platform provides a link to ***Policygenius*** as an alternative.
***please note: we need to comfirm whether or not this is STILL the case, as some of their more recent mergers and acquisitions and collaborative partnerships may have resulted in ‘alternate alternatives’***
That said, we most certainly can offer you alternatives! Just call: 888-681-4952
What is the relationship between Bestow Life Insurance and Lemonade Life Insurance?
Bestow and Lemonade announced a partnership in February, 2021. Using Bestow’s Protect API, Lemonade customers can apply for instant, affordable life insurance in as little as five minutes online — all within Lemonade’s website and apps.
Did Bestow Acquire Centurion Life Insurance Company?
Yes! Bestow Acquired Centurion Life Insurance Company in September, 2021.
What is life expectancy?
Life expectancy is the statistical expectation of how long someone will live at birth based on a number of factors such as socioeconomics, demographic, geographic, thermographic, stenographic, idiographic, and historiographics.
D2C Cost Comparisons and Sample Quotes
Cost Comparisons:
$100k – 10 Year Term Life – D2C – Cost Comparisons
$250k – 30 Year Term Life – D2C – Cost Comparisons
$500k – 20 Year Term Life – D2C – Cost Comparisons
The Bottom Line?
Bestow offers term life insurance from 10 to 30 years in coverage, with death benefits from $50,000 to $1.5 million and rates starting at $10 per month. Their entire Direct-to-Consumer (D2C) online process, from quote to binding your life insurance policy, can be completed in about 10 minutes. U.S citizens —between the ages of 18 and 60— are encouraged to apply.
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