Are you under 64 and shopping for life insurance? This is our full expert review on Bestow Life Insurance. You’ll find out everything you need to know before applying for their insurance policy: the good and the bad.
Here’s what we’ll cover in our detailed Bestow review:
We gave Bestow Insurance an overall rating of 4.66 out of 5 stars, keep reading to find out why and to discover what Bestow Insurance is.
What Is Bestow Life Insurance?
Bestow is a life insurance carrier that was founded in 2016 by a team of finance experts, tech specialists, and licensed agents. They sell term life insurance policies and they are the blueprint when it comes to purchasing life insurance online.
Bestow Insurance is number 1 when it comes to:
The company offers up to $1.5 million in coverage and the most term lengths of any simplified issue policy.
Are they legit?
Bestow is backed by North American Company For Life And Health Insurance and as of today, North American holds an A+ (Superior) rating with A. M. Best. North American has been around for over 100 years and was founded in 1886.
In 2020 Bestow raised $50 million and also became the first fully digital life insurance carrier in the U.S. after obtaining a carrier license.
So, yeah Bestow is pretty legit when it comes to the life insurance space.
Why Should You Choose Bestow?
They provide you with a convenient application process and offer affordable life insurance rates.
Not to mention, Bestow insurance policies are provided by an A+ rated carrier (North American) on A. M. Best.
What does this mean?
This Superior A+ rating for Bestow Life Insurance means the company has a high ability to payout claims.
No Medical Exam Required
The only 100% no medical exam term life insurance.
Bestow will offer you coverage right away without having to draw blood, take a medical exam or wait for test results.
With a ton of different policy options, Bestow insurance makes getting covered with no medical exam required very easy.
100% Online Application
You can apply without the need to talk with an insurance agent. And that’s not all. Bestow offers up to $1.5 million in coverage and the most term lengths of any simplified issue policy.
Get Up To $1.5 Million In Coverage
Bestow offers $50,000 to $1.5 Million in term life insurance coverage with terms of 10, 15, 20, 25, and 30 years. What else? They do it super fast. Think accelerated underwriting.
You Can Be Insured Within Minutes
You can get a quote in just a few seconds. Unlike other online life insurance providers, they underwrite the policies they offer in-house with their own technology. And you will get instant coverage upon approval.
Let’s have a look at the terms they offer.
Bestow Insurance Terms Review
We reviewed each of the 5 insurance plans offered by Bestow. And we offer you our expert opinion on which plan you should choose based on your needs.
The 10 Year Plan
This policy is going to be the most affordable option with low pricing and will be best for people who are looking at their short term needs. A 10 year term is a great starting point and locking your low rates in is going to be essential.
The 15 Year Plan
This policy is going to be the second-most affordable option with low to mid pricing and will be best for people who are looking at their middle to long term needs. A 15 year term is a great option if you are starting a family or expect to have a baby soon.
The 20 Year Plan
The twenty year term life policy will be in the middle when it comes to costs between the 5 different options; however, it will still be very affordable. The 20 year term length option is going to be best for someone focused on their future and want to be covered for an extended period of time with the maximum amount of savings.
The 25 Year Plan
When it comes to cost, the premiums will be the second highest out of all the options. The 25 year term length option is great if you want to lock in your savings and are trying to protect a mortgage or a family with kids going to college.
The 30 Year Plan
When it comes to cost, the premiums will be the most expensive out of all the options. However, it's also going to lock your rates in for the longest and give you the most savings. The 30 year term length option is great if you want to lock in the most savings and are trying to protect your mortgage or family.
All Cause Death Benefit
All of these policies will pay out for all types of death from accidental death, terminal illness, critical illness or chronic illness. With all insurance policies, there are some limitations so be sure to read the policy for things that aren't covered.
For instance, there is a 2 year waiting period before this policy will pay out for death by suicide.
Our Review On Their Policy Rates For 2022
Bestow life insurance plans start at around $10.17 per month for $250,000 in coverage for a 33 year old female and $14.96/month for a 33 year old male. We cover a few Bestow life insurance rates below:
Bestow Life Insurance Rates For Men & Women
Age | Gender | $250,000 | $500,000 | $1,000,000 |
|---|---|---|---|---|
25 | Female | $10.79 | $14.75 | $23.50 |
Cell | Male | $17.04 | $23.08 | $40.17 |
30 | Female | $12.04 | $16.83 | $27.76 |
Male | $17.88 | $24.75 | $43.50 | |
35 | Female | $14.13 | $19.75 | $33.50 |
Cell | Male | $18.71 | $26.42 | $46.83 |
40 | Female | $22.88 | $27.25 | $48.50 |
Cell | Male | $29.96 | $38.50 | $71.00 |
45 | Female | $31.63 | $38.08 | $70.17 |
Cell | Male | $41.21 | $50.17 | $94.33 |
50 | Female | $40.38 | $55.58 | $105.17 |
Male | $52.46 | $73.50 | $141.00 |
When it comes to instant issue coverage there is no better option than Bestow.
COMPANY NAME | MONTHLY PREMIUM | IS AN Exam requireD? |
|---|---|---|
Banner Life | $13.00 | Exam Required |
Mutual Of Omaha | $14.00 | Exam Required |
Haven Life | $14.00 | Exam May Be Required |
Bestow | $16.00 | No Exam Required |
Fabric Life | $16.00 | Exam Required |
John Hancock | $17.00 | Exam Required |
Sagicor | $18.00 | No Exam Required |
Transamerica | $18.00 | Exam Required |
Ethos | $20.00 | No Exam Up To $1 Million |
Prudential | $21.00 | Exam Required |
As you can see, Bestow is right in line with the pricing of all the top life insurance companies.
The Pros And Cons
After carefully studying their application process, available plans and policy rates, we put together a list of Pros and Cons for choosing Bestow Insurance:
Bestow Life Insurance Pros
Why should you choose Bestow? They completely re-engineered the buying experience for term life insurance to be super simple and more affordable.
And it gets better, you also get 30 days after you have been approved to look over the policy and decide if it's the right thing for you and your family.
We recommend choosing Bestow Insurance because:
But we must be transparent and tell you about the Cons as well:
Bestow Life Insurance Cons
There are a few negative aspects you should know about (but the Pros heavily outweigh the Cons). Some things to consider:
Based on all these factors, below is our final rating for Bestow Life Insurance.
LIFE INSURANCE WHERE YOU LIVE
Term Life insurance by state.
With a Life Insurance policy you can take care of your family the right way.
Should anything happen to you, you'll want to leave your loved ones a financial nest egg for their wellbeing. Click on your state to find out more.
Our Final Rating For Bestow Life Insurance
Here are our thoughts on life insurance issued by Bestow:
The Company
Bestow insurance is backed by an A+ rated carrier on A. M. Best which means payouts are guaranteed.
We rate the insurance company a 4.8 out of 5 stars.
The Application Process
With no medical exam required, a 100% online process, instant quotes and accelerated underwriting, Bestow offers a convenient and easy way to get insured.
We rate the insurance application process a 5 out of 5 stars.
Risk Assessment
Based on the risk you take when applying for an insurance policy, we rate Bestow a 5 out of 5.
Why? Their 30 days money-back guarantee allows you to decide if it's the right fit for you and your family. During those 30 days you can cancel anytime.
Life Insurance Rates
Bestow is right in line with the pricing of all the top life insurance companies and has affordable rates.
For the cost of life insurance we give them a 4.5 out of 5 stars.
Terms And Coverage
Insurance terms and coverage amounts are limited, this is why we give Bestow Insurance a 4 out of 5 stars for their policy options.
Overall Score
Based on the 5 factors we reviewed, Bestow Life Insurance got a final rating of 4.66 out of 5 stars.
With this rating, we can highly recommend Bestow as being one of the top insurance companies out there. Have you decided on getting a quote? It takes only a few seconds.
Apply Right Now!
With Bestow, instead of having to deal with an exam or wait weeks for an answer, if you qualify, you can be covered within minutes.
With the accelerated underwriting process, you no longer have to be afraid of buying life insurance. It's so fast, you won't even realize your application is complete, and your coverage has started.
How Can I Qualify For A Bestow Policy?
To qualify for the Bestow term life insurance policy, you must:
Where Can I Apply?
Just click here to get a life insurance quote from Bestow or use any of the buttons above.
Frequently Asked Questions
Does Bestow Insurance Offer Life And Health Insurance?
No, Bestow only offers term life insurance for now. Bestow also doesn't offer any permanent life insurance products.
Does Bestow Life Insurance Payout On Claims?
Yes, Bestow offers term life insurance for 10, 15, 20, 25, & 30 year terms, if you pass away during your term, your beneficiary will be paid out the death benefit of your policy.
How Do I File A Claim?
Right now, the fastest way to file a claim with Bestow is on the phone at 1-833-300-0603 to speak with one of their Customer Care Advisors.
Does Bestow Insurance Offer Life And Health Insurance?
No, Bestow only offers term life insurance for now. Bestow also doesn't offer any permanent life insurance products.
What does a life insurance medical exam consist of?
A life insurance medical exam consists of a detailed questionnaire and a full physical exam which includes checking your height & weight, blood pressure, taking a urine sample and also drawing blood. Depending on your age you might also have to take a resting EKG test to check your heart.
Are There Any Claim Exclusions?
There are a few exclusions when paying a life insurance claim.
The exclusions include death from suicide (within the first 2 years of coverage), and high-risk activities like scuba diving, automobile or motorboat racing, and mountain or rock climbing.
Also, operating or learning to operate an aircraft as a student, pilot or crew (excluding commercial pilot).
As always, please read the policy specifics when it arrives in the mail; however, those are some general exclusions which is industry standard for most policies.
Is Bestow life insurance legit?
Yes, Bestow life insurance is legit; in fact, In 2020, Bestow raised $50 million and also became the first fully digital life insurance carrier in the U.S. after obtaining a carrier license. So, yeah Bestow is pretty legit when it comes to the life insurance space.
What does Bestow life insurance cover?
Bestow life insurance offers up to $1.5 Million in term life insurance coverage with terms of 10, 15, 20, 25, and 30 years. If you qualify, Bestow will offer you coverage instantly without needing to take a medical exam.