Nobody wants to think about the unfortunate death of a loved one.
For this reason, many people avoid life insurance due to the unpleasant experiences that come with claiming these policies.
That’s why Bestow is working toward making the process of purchasing life insurance easier.
Bestow is one of just a few no exam life insurance companies who are allowing consumers to buy a life insurance policy without a medical exam.
But are they right for you?
Here’s how it works.
Bestow Life Insurance Review: Who is Bestow?
Founded in Dallas, Texas in 2016, the company is revolutionizing the sometimes archaic life insurance industry through the use of big data and technology to ensure the policy acquisition process is smart, cost-friendly, and convenient.
To buy a policy with Bestow Life Insurance, you’ll apply entirely online, and you’ll get a response within a few minutes.
If this process sounds awesome, that’s because it is. But, like we said, several others do this, as well.
So, what sets them apart?
Why Bestow Life Insurance?
Bestow is committed to employing technology in a bid to streamline life insurance.
They offer you an exceptional opportunity to enjoy a pocket-friendly term life insurance policy without having to take medical examinations.
Bestow is an excellent option for individuals looking to help their dependents easily and quickly.
Here’s an overview of what Bestow is all about:
- 100% online application and policy origination process
- No medical exams
- No commissioned sales agents
- Term life insurance policies
- A+ rated financial strength
- Adjustable plans
- Non-renewable plans
- Coverage from $50,000 to $1 million
- Terms from 2 to 20 years
- Quotes in seconds, coverage in minutes
NOTE: It’s worth making special mention Bestow Life Insurance only covers persons between 21 to 45 years old for a 20-year term and 21 to 55 years old for a 2-year or 10-year term.
What Makes Bestow Life Insurance Unique?
What sets Bestow Life apart is that they’re revolutionizing the way life insurance is purchased online with genuine no exam life insurance policies.
The company has developed a completely new underwriting framework and brought in a whole new experience in the world of life insurance.
Bestow’s underwriting platform is exceptional. Not every company a platform that’s designed to function like Bestow’s.
Their focus is to make life insurance accessible to more people than ever before by making their process cost-friendly and fast.
With Bestow Life Insurance, you’ll be able to get a quote, get approval, and pay for your policy in 10 minutes. While most insurance companies promise “no exam” and “instant approval,” most never come close to delivering Bestow’s kind of experience.
Bestow Life’s Application Process
The application process is short, simple, and sweet. It also doesn’t affect your credit score.
It encompasses the following steps:
- Go to Bestow’s website and click “Apply Now”
- Provide your personal details, including your name, birth date, weight, height, and the state where you live
- Choose your desired type of coverage plan
- Provide basic information on the next couple of pages including email, full legal name, contacts, address, place of birth, and social security number
- Agree to provide your health information to get a life insurance policy.
- Answer 18 questions to help evaluate the level of risk you present
- Select your beneficiaries
- Select the coverage amount and monthly payment that you can handle comfortably. (Keep in mind the monthly premium amount increases as the coverage amounts increase. Moreover, your premium amount will be based on the level of risk you present.)
- Confirm your selection, agree to the terms, and pay for your policy
This process should take you a few minutes, all in the comfort of your home.
The system communicates with third-party entities in real-time to verify the information you provide. This helps to save time and reduce costs.
Bestow’s Additional Benefits
With Bestow’s Life Insurance, you get to enjoy the following benefits:
- No medical exam – You only need to answer some questions about your lifestyle and health on the online application. Then, Bestow’s in-house underwriting platform will immediately process the information through an accelerated underwriting process. The in-house framework allows Bestow to effectively analyze your individual risk to obtain an instant underwriting decision, all without a medical exam.
- Non-commissioned agents – Bestow doesn’t have commissioned agents. This means they’ll take their time to assist you. They’ll give you information for your own benefit, and you won’t be pressured into anything.
- Easy payment method – You can pay for your policy with a credit card. Payments will be drafted automatically on every scheduled payment date until the term is over or you cancel or change the policy.
- Change your policy – Bestow allows you to change policy type or coverage plan during the term of your policy. That means you can make changes to your policy according to your life events, which may include marriage, having a baby, getting a divorce, or losing your job.
Pros of Bestow Life Insurance
Bestow Life Insurance has numerous advantages, including the following:
- Valuable term life insurance policies: Term policies are affordable and easily accessible.
- Exam-free coverage: Bestow offers great no exam life insurance policies.
- User experience: A user-friendly online life insurance application and fast underwriting process.
- Quick application: With the Bestow application platform, it will take you just a few minutes to complete the application.
- Financial strength: With an “A+” from A.M. Best, you can depend on Bestow for your life insurance needs.
However, as great as this might seem, it’s not a perfect solution for everyone, and does have some drawbacks which allow them to offer these policies at the rates they do.
Complaints About Bestow Life Insurance
Despite its great features and benefits, Bestow Life Insurance is not without a few shortcomings, including the following:
- Age limitations: You have to be 45 years old or younger to qualify for a 20-year Bestow Life Insurance plan. Likewise, you have to be 55 years old or younger to qualify for a 2 or 10-year term.
- Only term life: Every policy you buy from Bestow is designed to expire by the time you turn 65 years old. There are no permanent life insurance.
- Limited riders: Term life really is Bestow’s sweet spot, and there are very limited options for supplementary coverage or riders.
Final Thoughts on Bestow
If you are looking for an easy to understand, easy to navigate kind of solution that you can access from the comfort of your home, then you’ll certainly want to purchase life insurance from Bestow.
The best thing about Bestow is that you can obtain a basic quote without having to provide your contact information.
This is a small feature, but it shows that the company truly has your best interest in mind.
Moreover, Bestow’s sign-up process is quick and quite painless. They are also backed by the well-respected and highly-rated North American Company.
In addition, their pricing is reasonable and affordable to most individuals seeking life insurance.
All these attributes point to the fact that Bestow is well on its way to not only revolutionize the way people purchase life insurance but also the way they perceive it.
Bestow could be an excellent choice if you need quick and affordable term life insurance with a simplified application process.