Bestow Life Insurance Review

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When you sign up for life insurance, you can ensure your loved ones have the money they need to survive and move forward after your death. Otherwise, they may have trouble covering your final expenses, the house payment, and all their monthly bills, especially if you do not have enough in savings.

Thankfully, you can set them up right with help from Bestow life insurance. On their website, they offer many different levels of term life insurance coverage to help you build a personalized plan. They also make it quick and easy to get a quote and sign up without leaving the comfort of your couch.

Immediately upon signing up, your coverage activates — no exam needed — leaving you with true peace of mind as you go about your day. The affordable monthly rates allow you to easily keep your plan active through the selected term without breaking the bank.

Top Life Insurance Companies By Market Share

RankCompanyPremiums WrittenShare of Market
1MetLife$10,877,337,0006.7%
2Northwestern Mutual$10,550,806,0006.5%
3New York Life$9,385,843,0005.8%
4Prudendential$9,170,883,0005.6%
5Lincoln National$8,825,314,0005.4%
6MassMutual$6,874,972,0004.2%
7Transamerica$4,867,311,0003.0%
8John Hancock$4,657,312,0002.9%
9State Farm$4,636,147,0002.9%
10Securian$4,426,864,0002.7%

Affordable Term Life Insurance Available Online

When you need term life insurance fast, you can look to Bestow for your preferred level of coverage. They allow you to move through the entire sign up process on their website within just a few minutes. You do not even need to get an exam done before signing up. Instead, you just provide your personal info and answer their health and lifestyle questions, so their algorithm can come up with a custom rate.

Bestow life insurance allows you to set your preferred coverage level and term at signup. They do not offer any riders, however. So, you can’t further personalize your coverage or extend the plan to other people in your household.

Although they provide the quote, they are only operating as an insurance agent at this time. The company underwriting the policy is the North American Company for Life and Health Insurance. This company sets the policy terms, underwriting rules, and rates displayed in your quote.

Despite that, Bestow will still oversee your policy and process any claims made by your loved ones. You can also count on their customer service team to resolve any issues that come up and answer all your questions.

Benefits of Bestow Life Insurance

By going through Bestow for life insurance, you can count on enjoying all the following benefits.

Flexible Terms

Bestow life insurance comes with flexible terms that let you dial in your coverage levels to best provide for your loved ones after your passing. You can get anywhere from $50,000 to $1.5 million in coverage plus set your term length. Their policy options range from 10 to 30 year terms, customizable in five-year increments.

As you adjust those terms, you can pinpoint an affordable rate that lets you get the ideal amount of coverage for the perfect length of time. You can then pay down your debt and build up your savings for excellent financial security and even more protection for your loved ones.

No Exam Needed

In order to set the right rate, most life insurance companies require that you get an exam done before finalizing your plan. With Bestow life insurance, you can skip all that by simply inputting your health and lifestyle info into their system.

Their smart algorithm will then crunch the data to find your exact rate. You do not have to get any lab tests done, undergo a physical examination, or even speak with a doctor to qualify.

Online Application

You also do not have to speak with a loan officer or anyone else during the application and sign up process with Bestow. All you have to do is fill out their online form and agree to let their algorithm cook up a great rate.

Their online system is intuitive, easy to use, and super-fast, so you can get a quote in just a few minutes. The hassle-free experience will undoubtedly leave you singing Bestow’s praises and recommending them to your friends and family.

Affordable Plans

Cost is a big barrier to getting term life insurance, especially as the years go by. Bestow aims to change all that by offering plans with monthly premiums as low as $10 per month. As you customize your plan, the rate will change alongside your coverage level and term length.

Then, you can align the premium with your budget to better control your finances. You’ll get to enjoy that low rate through the selected term, allowing you to avoid rising life insurance costs as you get older or develop health problems.

Money-Back Guarantee

Bestow life insurance goes beyond the typical 10-day look period with a 30-day money-back guarantee. This gives you plenty of time to review your policy documents in full and cancel if the terms do not align with your expectations.

If you cancel within that period, they will provide a full refund of all premiums paid up to that date. You can still cancel after that point as well, but you won’t get a refund. They will just halt future payments and let you know your coverage end date. You do not have to pay any cancellation fees or give advanced notice either.

With so many benefits available, it just makes sense to get a risk-free quote for their term life insurance. After that, you can compare their rates, coverage levels, and benefits to other companies offering similar plans.

Drawbacks of Bestow Life Insurance

Despite the potential benefits, Bestow life insurance does have some drawbacks to consider, such as:

Only Offered to Relatively Healthy People Under Age 60

Instead of requiring a medical exam at sign up, Bestow only allows people under 60 to sign up for their term life insurance. Furthermore, they limit who can sign up for each term, based largely on age, biological sex, and tobacco use. Their 10-year term life policies are open to most applicants, while their 30-year term is limited to the younger crowd.

Beyond that, Bestow life insurance may deny coverage if you’ve had cancer or other serious health conditions in the last 10 years. They will let you know this information at sign up, so you can move on to another life insurance provider with less restrictive policies.

Not Available in All States

Although Bestow is slowly expanding their coverage across the United States, they still do not offer policies to people living in New York. This might change in the future, but for now, they will deny your request for coverage if you’re residing there.

Doesn’t Operate as a Fully-Licensed Carrier

Since they are not fully licensed as an insurance carrier, Bestow serves as an agent for North American Company for Life and Health Insurance. Although this might feel like a bait and switch, this carrier does have a good reputation in the industry. Beyond that, they get far fewer complaints than their competitors, making them a solid choice for term life insurance.

As you weigh the pros and cons of this term life insurance provider, you can zero in on the best plan for your needs. Remember to compare their rates and terms to other term life offerings you come across to get the perfect amount of coverage at an affordable price.

How to Sign Up for Bestow Life Insurance Coverage

If you want to sign up for Bestow life insurance, you will need to navigate to their website. After that, you can either click ‘Get a Quote’ or ‘Apply now’ to get started. If you want to know your available coverage levels, term lengths, and rates, then go with the quote first.

To get your quote, you will need to type in your:

  • Biological sex
  • Birth date
  • Height
  • Weight
  • Zip code

You must also indicate if you currently use any nicotine products by checking the box or leaving it empty.

Once you do all that, click ‘Get Estimate!’ to see your estimated monthly price based on the selected terms. You can then adjust the term length and coverage amount to better match the proposed rate to your budget.

After clicking making your selections and clicking ‘Next,’ the system will take you to the application page. You must provide your contact information, including email and phone number, to move forward. You’re also able to create an account at this time to save your progress and be able to complete your application later.

Upon moving to the next screen, you must answer their health and lifestyle questions to help determine your final rate. Depending on your answers to these questions, your rate will increase or decrease as the algorithm calculates your overall level of risk.

To get your full quote, you must provide your social security number and agree to their terms by checking the box. If you qualify, you can sign up for coverage right then and there.

What to Expect After Getting Approved for Life Insurance

Once you sign up for Bestow life insurance, they will send your information to the underwriter at North American Company for Life and Health Insurance. They will process your paperwork, and then send out your policy information in the mail. Your coverage kicks in immediately after they finish processing your paperwork, giving your loved ones the requested protection in case anything happens to you.

Once your term life insurance policy is approved, you can manage your account through Bestow’s website. You will then just need to log in through their portal to pay for your premium each month. If you miss a payment, they may cancel your policy and deny you coverage in the future. Furthermore, you will lose your locked in rate, which may result in higher prices when you try to sign back up at a different company.

Quality of Their Customer Service

Bestow life insurance comes with excellent customer service and support. You can get in touch with their team by phone, email, or live chat. Their team will answer your questions about using the website, getting a quote, and filling out the application. They will also let you know the status of your application if you have not heard back in a day or so.

Although they are not your official term life insurance carrier, Bestow will continue to manage your policy after sign up. They do not have an app, but you can log in to their website to review your policy documents and make all your monthly payments. You can even change your beneficiary with a few clicks of a button while logged in.

If the unthinkable happens, your loved ones can fill out a quick online claim form through their website. They should also call the customer service team to see if there are any other benefits available to them. Upon taking those steps, they will get complete support from the customer service agent and quick access to your funds, so they can manage their finances without worry.

Bottom Line

If you want term life insurance fast and without a medical exam, then look to Bestow for the coverage you need. As long as you’re not in New York, you can get a quote within minutes and complete your application nearly as quickly, landing you coverage in less than 20 minutes. You’ll then have a policy from an A+ insurance carrier with a positive reputation in the industry. With that move, you can enjoy true peace of mind that your loved ones will enjoy true financial security after your passing.

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Maria Abendroth

Marie Abendroth is a skilled content strategist and SEO copywriter with a focus on helping people improve their personal finances and overcome their barriers to success. In her articles, she provides up-to-date info that can help everyone better understand how to invest in a better future.