Bestow Life Insurance – If you are looking for an insurer that offers quick underwriting decisions and an AI-powered life insurance application, then Bestow is the right option for you.
Started in the year 2016, Bestow is a Dallas-based insurer that sells only term life insurance online. This insurer’s website is user-friendly, making it very fast for you to get a quote and buy a life policy from your device.
Making use of algorithms and data, Bestow provides quick approval for eligible applicants without the need to go through a medical exam.
Its online application process collects your personal information, such as your contact information and social security number, in order to access your publicly available data.
In this guide, we will take a closer look at Bestow coverage options, pros and cons, how to apply for coverage, and many more.
Bestow Life Insurance Coverage Options
Just as I have mentioned above, this insurer currently offers only term life insurance. Term life insurance lasts for a set number of years, known as the “term.”
It’s a great option for people who need extra protection during specific life stages, like when raising children or paying off debt.
You can choose a term of 10, 15, 20, or 30 years, and coverage amounts range from $100,000 to $1.5 million. Bestow is available for people aged 18 to 60, so if you need life insurance for a specific period, this could be a good choice.
Note: This insurer doesn’t offer permanent life insurance options, like whole life or guaranteed life insurance.
Bestow Life Insurance Pros and Cons
The following are the advantages and disadvantages of purchasing term life policies from this insurance company. Check them out;
Pros
- Simplified term coverage
- Fast coverage approval
- No medical examination required
- Responsive customer service
- Referral Program
Cons
- No permanent life coverage available
- No riders
- Quite expensive
- Not available in New York
- Age Limitations
Bestow Life Insurance Costs
The cost of this insurer’s term policies depends on factors like your age, gender, how much coverage you need, the length of the term, and your health.
Smokers will pay higher premiums than non-smokers. As you get closer to 60, your options for coverage and term lengths may become more limited.
How To Buy Term Life Insurance From Bestow
To start the application process, just go to the insurer’s official website on your mobile device or laptop.
Request a quote and fill in your basic personal information, such as phone number, gender, social security, and more, to get the correct quote that matches your needs and budget.
Once you get the quote, you can go ahead and begin the purchasing journey. You can contact customer service to help you with the process.
Is Bestow A Good Insurance Company?
Bestow might be the right life insurance company for you, depending on what kind of coverage you need. If you’re comfortable with technology and just want a straightforward term life policy without a medical exam, Bestow could be a great option.
However, if you’re looking for permanent or guaranteed issue life insurance, you’ll need to explore other companies, as the insurer doesn’t offer these types of policies.
The easiest way to find out if it is a good fit is to get a quote online.
Frequently Asked Question
Are Medical Exams Required?
No, Bestow does not require medical exams for most applicants. Instead, the approval process is based on your health questionnaire and, in some cases, access to data from other sources.
Who Is Eligible For Bestow Life Insurance?
Eligibility typically includes individuals aged between 18 and 60, who are legal residents of the U.S. and meet certain health criteria. This insurer aims to provide coverage for a wide range of applicants.
Can I Customize My Policy?
While Bestow offers limited customization options compared to some traditional insurers, you can choose the coverage amount and policy term that best fits your needs.
What Happens If I Miss A Premium Payment?
If you miss a premium payment, you don’t need to panic much. Most insurers typically offer a grace period during which you can make the payment without losing coverage. It’s important to check the specifics of your policy regarding missed payments.
Is Bestow Life Insurance Reliable?
Bestow partners with major insurance carriers that are typically rated highly in terms of financial strength, ensuring that you can rely on them to pay out claims.
Can I Convert My Term Policy To A Permanent Policy?
Bestow primarily offers term life insurance and does not provide options for converting into a permanent policy. If you require permanent coverage, consider looking for other providers.
How Do I File A Claim?
To file a claim with this insurance provider, beneficiaries will typically need to contact the company directly and provide required information, including the policy number, death certificate, and any other requested documentation.
Can I Cancel My Policy?
Yes, you can cancel your policy at any time you want to. It’s recommended to review your policy documents or contact customer service for details on how to proceed with the cancellation.
