bestow review

Bestow Review: Get Low Cost Term Life Insurance Online

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Last updated on May 24, 2020

Bestow is an online insurance platform launched in Dallas, Texas in 2016. The company provides short-term and long-term insurance policies for all clients.

With life insurance by Bestow, you can purchase a policy in a few minutes (if approved) due to their streamlined application process. Bestow’s revolutionary underwriting process can quickly approve your application and provide you with immediate coverage. Also, artificial intelligence allows Bestow to offer low rates. Above all, unlike other insurance carriers, you do not need a medical exam with Bestow.

Bestow can provide you with an immediate $1,000,000 coverage within minutes. The company offers low-cost term life policies by leveraging technology. With the innovative AI platform and easy online application process, Bestow is raising the benchmark for the life insurance industry.

Bestow offers competitive rates on insurance policies. Not all of the company’s rates are cheaper than top insurance companies’ rates, but they are better than most.

Product Features and Pricing

As compared to other insurance carriers, Bestow’s product offerings are somewhat limited. You can select from 2, 10 or 20-year term life policies.

You can also qualify for up to $1,000,000 in coverage through their online application. You don’t need to undergo a medical exam. The premium may be much lower compared to other no -exam policies. Obtaining a high level of coverage can be inexpensive and convenient.

The 2-year term policy is ideal for those who need more time to decide on a long-term policy. The 2-year policy can provide you with protection while you are exploring all your options. It also works well for transition periods where a lack of coverage is likely. For instance, this may include job transition and graduate school. This policy can also cover small business expenses and may help new entrepreneurs.

The monthly premiums for a 2-year policy with Bestow often have options available in the single digits for healthy policyholders. This is a very inexpensive short-term solution for financial protection. These policies can easily fit into many budgets, with the lowest possible monthly premium being just $3. The minimum coverage is $50,000, while the maximum coverage is $500,000.

Other insurance carriers can take weeks and even months to provide coverage. Bestow can cover you in just minutes. There is no gap in coverage. If approved, you will not have to leave without coverage after the application process.

Bestow’s term life policies have two key advantages. The monthly premium remains constant during the entire term. The death benefit also remains the same and is tax-free.

There are several reasons you may not want to commit yourself to a long-term policy. You need to think deeply and obtain honest advice from a financial expert to make the right policy choice. The 2-year policy can cover you at this stage.

Another reason is eligibility. The 2-year policy has the most lenient requirements. In other words, you have maximum chances of approval with this policy.

The 2-year policy also offers the most considerable flexibility. It has a simple application process. You just need to answer a few questions to apply. You can cancel the policy any time without incurring cancellation fees. This policy is suitable for those who want to try out Bestow for the first time. The policyholders can pay low premiums that won’t make a dent in their budget.

The 10 and 20-year long-term policies can protect the future of a young family. These policies provide attractive death benefits if the policyholder’s death occurs. Parents can purchase these policies to help provide financial stability for their loved ones (if they pass away). These policies can help shield your family against losing your assets to debt. They are a great addition to a comprehensive financial plan.

The minimum coverage provided by the long-term plans is $50,000. The coverage can go up to $1,000,000.

These plans are also extremely affordable. With low premiums and many benefits, these plans offer great protection for your loved ones.

Bestow’s premiums are lower than most companies. The company also has a client-friendly approach to ensure smooth payments. Each policy comes with a 30-day free look period. During this period, if you cancel your policy for any reason, you will be given a full refund.

Payment terms are also lenient. Even if you miss your payment, your policy will remain active for the next 30 days. Your policy will remain valid if you pay within the next month.

Bestow does not offer policies on its own. The company has partnered with two of the biggest insurance companies to sell their policies. Bestow uses a highly sophisticated technology platform to handle sales, customer support, and underwriting issues. These insurance giants Bestow has partnered with have billions of dollars in assets. They also have an A+ financial security rating.

There are also a few restrictions. Twenty-year policies are available only to individuals aged between 21 and 45. But two and ten-year policies are offered to individuals aged 21 to 54.

The company can decline policies for risky activities, medical history, dangerous occupations, and citizenship status.

Financial Strength

Financial strength ratings are a measure of an insurance company’s ability to meet policyholder obligations.

Munich Reinsurance is one of the industry giants Bestow partners with. Munich Re has consistently received top ratings from leading rating bureaus. AM Best has rated the financial strength of Munich Re in the top category. This indicates the high quality of enterprise risk management, strong operating performance, and favorable business profile of the company. As a result, the group has a strong record of share buy-backs and high dividend payments. According to the opinion of AM Best, the ERM framework of Munich Reinsurance controls market risks adequately.

Munich Re earned a profit of EUR 390 million in 2017. The group reported high profits, despite incurring heavy losses in the U.S. arising from natural disasters. These losses were partially offset by strong earnings from life reinsurance.

Munich Re is recognized as one of the leading reinsurers in the world. Their business profile is characterized by high diversification. The group’s strong expertise and global presence allow it to thrive in the highly competitive reinsurance market.

Another industry giant partner of Bestow is North American Company for Life and Health Insurance® has top financial strength ratings from AM Best. The company is known for its portfolio, which is in the billions. Their portfolio has increased in recent years. North American Company for Life and Health Insurance® enjoys sound financial health.

In its ratings, AM Best mentioned the well-developed risk management program and risk-adjusted capitalization as factors behind their high rating.


With Bestow’s application process, it is easy and straightforward. You need to provide your necessary personal data, such as:

  • Your name
  • Your age
  • Your height
  • Your weight

You must also provide your social security number and contact information (email, phone, and address). Bestow will then ask basic lifestyle questions to determine your risk level. These questions are about tobacco use, medical history, primary health conditions, risky activities, and other common issues. Once you finish entering all of your information, Bestow will determine whether or not you are eligible for a term life insurance policy.

If approved, you will be required to select your policy, enter your beneficiary information, and make a payment for your first month.

The company’s streamlined online application can make life easier. If approved, your coverage will begin immediately after payment. The approval process takes only a few minutes.

Also, providing documents is not necessary. Bestow will verify your data online by checking your credit report, motor vehicle reports, prescription history, and other information.

This starkly contrasts with the underwriting process of some other companies, which can require applicants to visit them for an interview. The application process can involve lab tests, medical exams, and paperwork. Since the process is manual, approval and coverage can take weeks.

Bestow inquires to ascertain your creditworthiness. This does not affect your credit rating. The soft inquiry only looks at the timeliness of your payments and if you have filed for bankruptcy. The company does not check your credit score.

If your application is turned down, Bestow will provide a link to Policygenius to help you find coverage elsewhere.


Bestow offers a high level of security to keep your data safe. The site provides a highly secure 256-bit key TLS encryption. This is better than the 128-bit key encryption offered by most websites.

This shows that Bestow takes client data seriously. The company provides better protection than the industry standard.

Mobile Support

The company’s website is optimized for mobile browsing. You can even complete the online application process on your smartphone.

Customer Service

Bestow offers friendly and efficient client service via live chat, email, and phone. You can start a live chat session with their team by clicking the chat icon at the bottom of the homepage.

  • Phone: 1-833-300-0603
  • Email: (don’t worry, it’s the same company)

Pros and Cons


  • The online platform allows you to purchase insurance within minutes if approved
  • Backed by top insurance groups – Munich Re and North American Company for Life and Health Insurance®
  • No sales agents involved in the online application process
  • No need for medical exams
  • Backed by A+ financial strength
  • Offers term life insurance policies
  • Offers 2, 10 and 20 year terms
  • Provides coverage up to $1,000,000
  • Provides quotes within seconds
  • Immediate cover if approved


  • Age restrictions apply to policies
  • All policies expire at 65
  • No permanent life insurance policies
  • No supplementary coverage or riders

Is Bestow for You?

If you need a permanent life insurance policy, then Bestow is not for you. You will also need to look elsewhere for term life policies beyond 20 years.

The range of insurance products is limited. However, they are backed by insurance giants with an A+ financial rating.

You can save your time and money if you find a product according to your needs.

Alternatives to Bestow

You will need to look for other options if you are interested in permanent life insurance. Here are the best choices:

  • MassMutual

This company offers policies with guaranteed death benefits. This means that your beneficiaries may have death benefits, no matter when you pass away.

These policies are also an excellent vehicle for building cash value. If you want a life insurance policy that can supplement your income from savings, then consider MassMutual.

  • Nationwide

This insurance company has one of the highest client satisfaction ratings. You can see them in the reports released by JD Power and Associates.

You will receive annual dividend payments on your policy. Nationwide guarantees fixed premiums throughout the term of the policy. The company offers the most competitive rates for seniors. If your application is rejected by Bestow due to your age, consider Nationwide.

  • New York Life

This insurance company has consistently been rated for its high financial strength by leading bureaus, which is crucial if you are interested in dividend payments. Due to the company’s financial strength, you can expect higher dividends from New York Life.

  • Guardian

Guardian offers an array of options for cash value. This matters if the freedom of options in cash value is important to you. No other insurance company offers so many choices. AM Best has given an A++ rating to this company.


Although Bestow Life Insurance offers a rather narrow range of term life insurance products, you can benefit from them if they fit your needs.

Bestow has partnered with leading insurance companies. Therefore, the policies offered by Bestow are provided by a company with strong financial strength. Bestow also has a pain-free application process that can be completed in minutes. You can also benefit from the low rates and high coverage offered by Bestow.

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