Bestow Review – Term Life Insurance in Minutes (No Medical Exam)

The Bottom Line: Bestow uses data to remove doctor visits and paper work of traditional life insurance, offering you an affordable plan without the hassle. Anyone looking to find term life insurance should start by getting a free quote from Bestow.

Pros & Cons

Life insurance is one of those things that nobody really wants to think about purchasing — after all, there are more seemingly pressing issues such as paying your daily expenses or looking up the best ways to grow your wealth.

Plus, it’s been traditionally a bit of a hassle to apply for life insurance. You need to speak with an insurance agent, go through a series of probing questions and a possible medical exam.

Once that’s over, you need to wait around for weeks for a decision and pray that you’re not going to pay a lot for your premium.

The good news is that there are companies out there who have changed the way you and I get life insurance — one such company is Bestow. 

You simply go through an online application process which can approve you within minutes without a medical exam.

The best news is perhaps that their premiums are fairly low-cost, with policies up to $1 million and terms up to 20 years. 

That being said, there are a few competitors out there so let’s dive into what Bestow life insurance policies can offer you and how you can tell if it’s the right choice.

What is Bestow & How Does It Work?

Launched in 2017, Bestow offers term life insurance policies which are provided by North American Company for Life and Health Insurance®. 

Available in the U.S. except for New York state, Bestow aims to make life insurance easier and more approachable for consumers by selling policies quickly and affordably.

All you need to do is to fill out their simple application form with features a bunch of personal information about you.

Once you submit and with your permission, it’ll pull any available data about you and uses their algorithms in order to see whether you qualify. 

If you’re approved, you’ll be able to see the final price Bestow offers, plus you don’t need to go through a medical exam. You can even pay for your policy using your credit card, Google Pay, or Apply Pay. It’s that simple. 

Currently, Bestow doesn’t offer whole or universal life insurance, just term life insurance policies.

What Do I Get With My Bestow Life Insurance Policy?

Here’s what you get with each term:

10 year - This is intended as long-term protection in case you have any debts (such as a mortgage) or other expenses you want to cover in case of your death. If choose the 10-year term you’ll have fixed premium payments. Like the two-year policy, it’s only for those between 21 and 55, although there are policies up to $1 million.

20 year - It’s pretty much the same as the 10-year policy except it’s a longer term. However, you can only qualify if you’re between 21 and 45, but you can still get a policy up to $1 million. 

Are There Any Other Restrictions On Who Qualifies?

Here are some criteria you need to qualify for a Bestow life insurance policy:

• U.S citizen or legal resident (it’s not available in New York) who are generally healthy
• Employed full-time, a student or a homemaker
• Between 21 and 55 (for two- and 10-year terms), 21 to 45 (for 20 year term). 
• Be able to pay your policy every month

If you have a history of alcohol of drug abuse, cancer (other than basal and squamous cell skin cancer), diabetes before you were 40 (except gestational diabetes), heart disease, HIV, kidney disease that requires dialysis, stroke, or organ transplant, then you won’t be able to qualify. 

How Much Does Life Insurance by Bestow Cost?

The cost of a life insurance policy with Bestow will differ depending on your situation.

Everybody’s age, health, coverage amount, and term is different, which is why it’s hard to tell you specifically what it’ll cost you.

However, what we can say is that some of the most influential factors that can increase or decrease your premiums include your age, gender, height, weight, medical or health history, the term and cover amount you choose. 

According to Bestow’s website, a 10-year term  can cost as low as $8 a month (it appears as though the longer policies can cost upwards of $30 or more).

Of course, you’ll need to enter in data specific to you find out the exact costs as these are estimates.

Bestow vs. Competitors

How Do I Get Started?

Getting a quote can take mere minutes online through the Bestow website. All you need to do is go to their website and click on “get a quote” or “let’s get started” at the top of the page. 

A short form will pop up that asks you to enter details like your birth date, gender, weight, height and your state of residence.

Then, click on “get a quote!” to proceed.

You’ll then be led to another page that offers an estimated quoted that’s based on the coverage amount and term you selected.

If you like what you see, then click on “start application” to get a detailed quote that’s specific to you.

At this point, you’ll need to create a login using your email address and a password. After pressing the “start” button, you’ll need to provide more information.

This includes your name, address, gender, height, weight, birth date, and phone number.

The next section includes questions about your current health situation  — HIV diagnosis, tobacco use, disability and even your medical history among the list of questions.

You’ll also need to answer questions about your lifestyle such as your travel plans, state of residence, where you were born, income, employment status, future hobbies. 

Once you’re done all the required sections, submit application. Bestow will ask for your consent to collect medical data about you. At this point you’ll also need to enter your Social Security number.

Then, click “sign and continue” and you’ll be able to receive your customized quote.

Should I Get a Policy With Bestow?

Believe it or not, there are a few other online life insurance competitors that also offer low-cost premiums and fast approvals.

If you’re in relatively good or excellent health and are on the younger end of the spectrum (it depends on the policy) then Bestow's Life Insurance Policy may be a good choice. 

Plus, if you hate the thought of having to sit down with an insurance agent and go through a medical exam and wait a few weeks, then Bestow is a way to go.

As mentioned before, premiums are pretty affordable, so that’s another bonus.

Unfortunately, if you’re not in the best shape or have had any of the major health conditions that Bestow won’t cover, then you might be out of luck.

If you’re older (over 45 or 55) then you’ll also need to look elsewhere. 

If you’re also looking for a term that’s longer than 20 years, then Bestow also isn’t the right choice for you, although the company is looking to add more policies in the future. 

However, given how low Bestow’s rates are for life insurance coverage, it’s hard to ignore the many benefits this company offers, assuming you can qualify.

That said, it’s still a good idea to get quotes from a few other places to compare and contrast to see who comes out on top.

In any case, check out Bestow’s website for more information or apply for a policy.