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Bestow Review
Bestow Review
Bestow Review
Bestow Review
June 08, 2022 / Michael Graw
Bestow Review
Bestow Review
June 08, 2022 / Michael Graw
Coverage up to $1.5 million
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Overview

Bestow is a relatively new life insurance company founded in 2016. It offers term life policies with no medical exams and no waiting periods. You can get policies with terms up to 30 years and $1.5 million in coverage, and the entire application process is online. Bestow doesn’t offer riders or whole life policies, so it’s best suited for people who want to buy term life insurance as quickly and simply as possible.

Pros:

  • No medical exams or waiting periods
  • Coverage up to $1.5 million
  • Fully online application
  • 30-day money-back guarantee
  • Phone, email, and live chat support

Cons:

  • No riders or supplemental insurance
  • Only offers term life policies
  • Must be under 60 to qualify
  • Not available in New York

Suitable For?

Bestow is suitable for anyone under the age of 60 who wants to purchase affordable term life insurance online. You can get a free quote online in 30 seconds, and the application process is fully digital. Support is available by phone, email, and live chat if you have any questions along the way.

Bestow is especially suited for individuals who are in good health and don’t want to undergo a medical exam. None of Bestow’s policies require a medical exam, although individuals with major medical issues in the past 10 years may be denied coverage. All coverage decisions are made instantly after you submit your application.

Bestow is also suitable for individuals who want a life insurance policy that takes effect immediately. The company doesn’t require waiting periods for any of its policies.

Coverage from Bestow is only available for individuals under 60. Your age plus the term of your policy cannot exceed 70 (i.e., 50-year-olds can qualify for a maximum term of 20 years). Bestow policies are not available in New York.

Features/Highlights

  • Coverage up to 30 years and $1.5 million: Bestow offers term life policies with 10-, 15-, 20-, 25-, or 30-year terms and coverage between $50,000 and $1.5 million. Premiums start at just $9 per month and policies are fully customizable.
  • No medical exam: Bestow issues only no-medical exam term life insurance policies and issues a decision instantly on all applications.
  • No waiting period: All Bestow life insurance policies go into effect immediately.
  • Online quote and application: You can get a free quote from Bestow in seconds and complete your life insurance application entirely online.
  • Money-back guarantee: New policies come with a 30-day money-back guarantee if you decide Bestow isn’t right for you.
  • Grace period: Bestow offers a 60-day grace period on premium payments, meaning you have up to 60 days to pay a missed premium before your coverage lapses.
  • Excellent customer support: Bestow offers customer support by phone, live chat, and email 8AM-6PM (CT) Monday-Friday.

Policy Types and Terms Available

Bestow only offers term life insurance policies, with no riders or supplemental insurance available. You can choose a 10-, 15-, 20-, 25-, or 30-year term and coverage from $50,000 to $1.5 million (in $50,000 increments). Your policy term cannot extend beyond when you would turn 70 years old.

Premiums start from just $9 per month. A 30-year policy for a healthy 35-year old male with $1 million in coverage is estimated at $42.67 per month.

Application Process

Bestow offers term life insurance policies for US residents between the ages of 18 and 60. Since Bestow doesn’t use medical exams, the company requires that all applicants be in generally good health. Applicants with major medical issues in the past 10 years, such as cancer, are likely to be denied.

You can get a free quote and apply online. Here’s how it works:

  • Enter your name, age, and zip code to get a personalized quote. You can adjust your policy term and coverage to customize your quote.
  • Fill in personal details including your email, address, and social security number. Bestow runs a soft credit check, which won’t impact your credit score.
  • Enter details about your medical history, lifestyle, and hobbies.
  • Bestow will issue an application decision instantly. If approved, you can continue to list your beneficiaries and purchase your policy.
  • List your beneficiaries and provide their contact information. You can also manage your beneficiaries online after your policy is approved.
  • Purchase your policy online. All Bestow policies take effect immediately.

Bestow’s online application process is very straightforward and the questions should be easy for most people to answer. There’s no documentation required as part of the process. If you need help, you can contact Bestow by phone, live chat, or email.

How Safe Is It?

Bestow has a 4.7-star rating on Trustpilot after more than 750 reviews and an A+ rating with the Better Business Bureau. If you’re not happy with your policy, you can cancel within 30 days for a full refund.

While Bestow is a relatively young company, its policies are underwritten by North American Company for Life and Health Insurance, which has been in business since 1886. Bestow issues your policy, but it’s ultimately North American Company for Life and Health Insurance which will make claims decisions and pay out to your beneficiaries. North American Company for Life and Health Insurance has an A+ (Superior) financial stability rating from A.M. Best.

Help & Support

Bestow offers customer support by phone, live chat, and email 8AM-6PM (CT) Monday-Friday. The company also has an FAQ page with additional resources for new applicants and current policyholders.

In the event of your passing, your beneficiary can file a claim by contacting Bestow. The company will walk your beneficiary through North American Company for Life and Health Insurance’s claims process.

Bestow At A Glance

Bestow is a relatively new term life insurance provider that offers policies underwritten by North American Company for Life and Health Insurance. Bestow is unique in that it never requires a medical exam or a waiting period. You can get coverage up to 30 years and $1.5 million, although there are no riders or supplemental insurance policies available. Bestow’s application process is entirely online and approval decisions are made instantly. If you need help, the company is available by phone, email, and live chat 5 days a week.

Physical Address

750 North St. Paul Street #1900, Dallas, TX 75201

Disclaimer

Life insurance quotes provided by Bestow Agency, LLC dba Bestow Insurance Services in CA, who is the licensed agent. Term Life Insurance Policies offered by Bestow are issued on policy form LS181 and LS182, or state version including all applicable endorsements and riders, by North American Company for Life and Health Insurance®, Administrative Office, One Sammons Plaza, Sioux Falls, SD 57193. Products or issue ages may not be available in all jurisdictions. Limitations or restrictions may apply. Not available in New York. North American is rated A+ (Superior) by A.M. Best. A+ (Superior), the second highest rating out of 15 categories, was affirmed by A.M. Best for North American Company for Life and Health Insurance as part of Sammons Financial Group on July 30, 2021. A.M. Best is a large third-party independent reporting and rating company that rates an insurance company on the basis of the company’s financial strength, operating performance, and ability to meet its ongoing obligations to policyholders. Our application asks about your lifestyle and health to avoid requiring a medical exam.

Get started now, visit Bestow
By Michael Graw
Michael Graw is a freelance journalist and photographer based in Bellingham, Washington. His interests span a wide range from business technology to finance to creative media, with a focus on new technology and emerging trends. Michael's work has been published in TechRadar, Tom's Guide, Business Insider, Fast Company, Salon, and Harvard Business Review.
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