Important update
Bestow is no longer selling new life insurance policies directly to consumers.
In 2024, Bestow sold its underwriting carrier to Sammons Financial Group, which renamed it Lantern Insurance Company. Bestow itself shifted focus to operating as a life insurance technology platform. Existing Bestow policies remain in force and are now serviced by Lantern Insurance Company.
If you are shopping for a new instant-issue or no-medical-exam term life insurance policy, we recommend:
- Ethos: instant-decision, no-medical-exam term up to $2M
- Banner Life OPTerm: low-cost term with optional no-exam underwriting
- AIG Quick Issue: same-day approval up to $500,000
- Mutual of Omaha Living Promise: simplified no-exam term and final expense
Bestow Life Insurance Company Details
Bestow began in 2017 as a startup aimed at “helping people protect their people.” While the business is based in Dallas, this online company works in all states, with the exception of New York. Bestow is technically an insurance agent, serving as a link between customers and North American Company for Life and Health Insurance, the insurance carrier.
Bestow specializes in instant issue life insurance, specifically level term life insurance. These plans are valid for a specific period of time and are significantly cheaper than whole life insurance. These plans can be ideal for those who desire coverage while their children and other dependents are living in their households.
The company’s greatest selling point is its simple, clean, online interface. A question often asked is how long is the life insurance application process? Typically the process requires a complete medical check-up and the approval process takes months.
Bestow streamlines this process through a simple online application that provides approvals on the spot.
Applicants answer questions through Bestow’s website, and the company uses this data to calculate their insurance premiums. After providing data like age, weight, ZIP code, and a brief lifestyle survey, applicants can begin their term life insurance plans in a matter of minutes.
| A.M. Best Rating | A+ |
| S&P Rating | Not Yet Rated |
| BBB Rating | A+ |
| Customer Service Phone | 833-300-0603 |
| Address | Bestow, Inc. 750 North St. Paul Street #1900 Dallas, TX 75201 |
| Website | Bestow |
Bestow Life Insurance Products
Instant Decision Term With No Medical Exam Required
| Product Name | Instant Decistion Term Life Insurance |
| Length of Coverage | 10,15, 20, 25, and 30 years |
| Minimum Coverage | $50,000 |
| Maximum Coverage | $1,500,000 |
| Estimated Time to Approval | 0 days |
| Product Features |
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Bestow sells instant issue, level term life insurance policies online. You complete the simplified issue term life insurance application.
Applicants need to spend only around five minutes on Bestow’s online platform and answer some medical and lifestyle questions to get an instant decision. You can also fine-tune coverage according to amounts, term duration, and other elements depending on what you and your family need. Once approved, financial protection is immediately active.
Applicants are guaranteed an instant decision based on available medical history during the underwriting process.
The application asks about your lifestyle and health to avoid requiring a medical exam. The company also uses public reports and algorithms to make decisions and set prices.
Policies are issued by North American Co for Life & Health, a stable company with excellent customer service and a strong financial rating.
Product details:
- $50,000 to $1,500,000 in coverage
- 10, 15, 20, 25, and 30 year options
- 18 - 60 years of age
- Not available in New York
Policy benefits
Pros
Low Prices
Bestow’s instant-issue life insurance is often priced below companies that have a month-long underwriting process, including a medical exam.
Good for people generally in good health
A good fit for besow is a person 30 - 45 years old with no current health problems. Some of the medical conditions that are ok as long as they are controlled are high blood pressure, cholesterol, anxiety, depression, and sleep apnea.
We think Bestow has the best prices and percentage of approved applicants.
You can change your term and coverage amount after you are approved
The actual cost of the policy is determined after the company approves you. The cost may be higher or lower than expected. It is a nice feature that you are able to tailor the policy to fit your needs without having to submit additional information.
100% Online Application With No Medical Exams
The application is a no medical exam life insurance plan that takes 10 - 15 minutes, and you are done. You can apply in the middle of the night on your mobile phone and have coverage instantly.
You don’t need to talk to an agent
Some people don’t want to talk to a captive or independent life insurance agent and be overwhelmed with questions and options. With Bestow, it is your choice whether you talk to an agent.
Cons
Not good for those with a history of diseases
If you have a history of cancer, heart attack, stroke, immune disease, or diabetes you are better off applying with another simplified issue life insurance company. These conditions cause automatic declines.
Offers only term life insurance with no option to convert to a permanent policy later
Many life insurance policies allow you to convert to whole life insurance or a universal life insurance policy without health questions during the coverage period. Unfortunately, this is not an option for the Bestow product.
Not for those over 60 years old
While the product is not available for those over 60, the closer you are to 60, the more difficult it is to get approved for a policy with Bestow. This is because of the increased risk to the insurance company, especially when issuing instant products.
Cost
Lowest prices on instant-issue life insurance
Bestow isn’t the most affordable life insurance provider, as there are more affordable options that require a medical exam. But, it is among the cheapest for an instant issue, online-only life insurance policy.
10-year, 15-year, 20-year, 25-year, and 30-year term
Both the 10-year and 20-year plans start at $8.00 per month. However, you can expect that these rates will fluctuate considerably depending on how you answer the initial intake questions. Additionally, these rates will increase as you age, as well as if you are diagnosed with any medical issues.
Cost of 10-Year Policy
If you are a 35-year-old man and seeking a $250,000 policy, you can expect to pay around $12-13 per month. Women can expect to pay roughly $14 per month for the same policy.
These numbers can increase sharply with any medical or lifestyle issues you indicate on your initial questionnaire.
Cost of 20-Year Policy
If you are a 35-year-old man and seeking a $250,000 policy, you can expect to pay around $14-15 per month. Women can expect to pay roughly $16-17 per month for the same policy.
Again, many factors can cause these rates to fluctuate, with some policies rising to $20-40 per month.
Financial ratings
Bestow’s customers ultimately receive insurance policies from North American. North American paid over $593 million in death benefit claims in 2019 alone, and their reliability is recognized with an A+ Superior rating from A.M. Best.
