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Bestow Life Insurance Review
By cassidy MONEY RESEARCH COLLECTIVE
Unlike traditional life insurance providers, Bestow offers an online platform for customers to purchase up to $1.5 million in term life insurance without the need for complex paperwork or medical exams. The company emphasizes convenience, affordability, and transparency as key components of its services, which is why we named it the best term life insurance for no medical exams.
Table of contents
- Bestow’s services
- Bestow’s credentials
- Bestow’s accessibility
- Bestow’s customer satisfaction
- Bestow vs. the competition
Bestow life insurance overview
Bestow was founded in 2016. Headquartered in Dallas, Texas, it was started by serial entrepreneurs Melbourne O’Banion and Jonathan Abelmann, who saw an opportunity to use technology to make buying life insurance easier and more affordable. Today, Bestow is dedicated to making life insurance more accessible and easy to understand so that everyone has the protection they need.
Bestow’s services
Bestow offers simple, affordable life insurance that can be purchased entirely online. Coverage starts at just $11 per month, and there are no medical exams required.
What it offers
Bestow offers term life insurance coverage up to $1.5 million with terms ranging from 10 to 30 years. Instead of relying on a medical exam to determine your eligibility, Bestow uses an advanced computer algorithm to perform the underwriting process in a matter of minutes using factors such as your age, smoking status, and health history. If you’re approved, you can purchase a policy and begin coverage immediately.
But what is term life insurance, exactly?
Term life insurance is a type of life insurance that provides financial coverage for a set number of years. Rather than being permanent (like whole life insurance), it’s temporary. Your beneficiaries only receive a death benefit if you pass away during your policy’s “term” or coverage period.
Bestow life insurance coverage
There are several ways to customize your Bestow term life insurance policy. Not only can policies be purchased in 10 to 30-year terms, but you can also buy as little as $50,000 in coverage or as much as $1.5 million, depending on your needs.
| Coverage amounts | Term lengths | Eligible ages | |
| Term life insurance | $50k to $1.5 million | 10, 15, 20, 25, or 30 years | 18 to 60 years old |
What it doesn’t offer
Although Bestow is our top pick for no medical exam life insurance, it still has a few limitations you should be aware of:
- No life insurance riders. Bestow doesn’t offer any add-ons or ways to customize your policy outside of selecting your death benefit and term length. If you’d like to add insurance riders to your policy, check out our Nationwide review or Northwestern Mutual review.
- No whole life policies. Bestow sells one thing—term life insurance. If you need cash-value life insurance or some type of permanent coverage, you might want to consider Ethos insurance. It has guaranteed-issue underwriting for death benefits up to $25,000.
- No death benefits over $1.5 million. As a general rule of thumb, your life insurance benefit should be at least 10 times greater than your annual income. If you crunch the numbers and realize you need more than $1.5 million in life insurance coverage, you might want to look into Haven Life (up to $3 million in coverage) or Ladder (up to $8 million).
- Not available in New York. Bestow isn’t available to New York residents at this time. If you’re a New Yorker in need of term life insurance, you might want to comparison shop through a platform like Policygenius.
Bestow life insurance cost
The cost of a Bestow life insurance policy depends on several factors, including your age, gender, health, and the amount of coverage you select. Generally speaking, Bestow life insurance policies tend to be more affordable than those offered by traditional life insurance providers.
Bestow lists these rates on its website for a healthy, 35-year-old woman who doesn’t smoke and wants to compare options for a 10-year term, 20-year term, and 30-year term policy:
| Years | Average cost | Coverage |
| 10 | $21.33 | $500k |
| 20 | $22.97 | $500k |
| 30 | $26.00 | $250k |
Bestow’s credentials
Bestow sells life insurance everywhere nationwide except in New York. Its financial strength is also rated A+ (Superior) by A.M. Best., the largest credit rating agency in the world.
Licenses and registrations
Bestow is licensed to sell life insurance in 49 states and D.C. Its policies are issued and backed by the North American Company for Life and Health Insurance, a subsidiary of Sammons Financial Group.
This means you can trust that Bestow is legitimate and that your beneficiaries will receive the life insurance death benefit if you pass away during the policy’s coverage period. You can view all of Bestow’s licenses on its website.
Awards and certifications
In 2021 and 2020, Bestow was named one of CB Insights’ Fintech 250, a group of the world’s most promising financial technology companies. Bestow is also accredited by the Better Business Bureau (BBB) and has an A+ rating, which is the highest possible mark.
Regulatory or legal actions
At the time of publishing, we were not able to find any regulatory or government actions taken against Bestow or any of its third-party issuers.
Bestow’s accessibility
Bestow doesn’t require a medical exam to get coverage, which means you can get a free quote and qualify for a policy in minutes. Here’s a closer look at its availability, user experience, and limitations.
Availability
You can buy life insurance from Bestow if you’re between the ages of 18 and 60, though some states require you to be 21. Its policies are available in 49 states and D.C., with the exception of New York—which isn’t yet supported.
Because it’s a digital company that operates fully online, you can’t visit a brick-and-mortar location to apply for a policy or meet with an agent.
Contact information
Bestow offers a wide range of customer service options for policyholders and their loved ones.
- Email: team@bestow.com
- Phone: 833-300-0603
- Live chat
Plus, you can find helpful articles and FAQs on Bestow’s website. And for those who need extra assistance, Bestow offers a dedicated customer service team that’s available 24/7.
User experience
Using Bestow’s platform is easy and straightforward. It takes just a few minutes to get a free quote, compare prices, and customize your policy. Its user interface is similar to other digital life insurance platforms like Ladder and Haven Life.
Once you’ve selected a policy, the application process is usually completed within minutes and coverage begins immediately with no medical exam required. Instead, it uses a computer algorithm to calculate your eligibility based on things like your age, medical history, and lifestyle. You can pay for your policy by debit or credit card, and you’ll receive a confirmation email once the application is complete.
Bestow also offers learning and support resources to make it easier for you to understand your policy and its benefits.
Limitations
Overall, Bestow is a great option if you’re looking for a fast and easy way to get life insurance. However, there are some limitations to keep in mind:
- Bestow’s death benefits range from $50,000 to $1.5 million. If you need more (or less) coverage than this, you’ll need to look elsewhere.
- You won’t find any permanent life insurance or riders at Bestow—just basic term life insurance policies.
- Bestow isn’t available in New York or to anyone over the age of 60.
Bestow’s customer satisfaction
Bestow takes a different approach to the life insurance purchase process, and so far customers seem to be pleased with the results. It has a 4.6/5 star customer review rating on TrustPilot, and many customers praise the company’s ease of use and friendly customer service.
Customer complaints
As with any company, there have been some customer complaints about Bestow’s policies on Trustpilot and the BBB. The most common issue seems to be frustration around being denied coverage for small health issues. In some cases, customers have reported being denied by Bestow despite getting approved by similar insurance providers.
This seems to be the biggest hang-up with Bestow. While other companies will recommend you get a medical exam if your health questionnaire has a few red flags, Bestow will flat-out deny you. So if you have a pre-existing condition, or your health isn’t perfect, it may be best to look elsewhere. Luckily, companies like Haven Life and Ladder will tell you if you need a medical exam, rather than deny you upfront.
Third-Party ratings
At the time of publishing, we were not able to find any JD Power Customer Satisfaction ratings for Bestow or any of its third-party issuers.
Bestow vs. the competition
Up to age 64 (medically underwritten)
| Bestow | Ladder | Ethos | Haven life | |
| Coverage | $50,000 to $1.5 million | $100,000 to $8 million *usually won’t need a medical exam if coverage is $3 million or less |
$20,000 to $2 million | $25,000 to $500,000 (no medical exam) $100,000 to $3 million (medically underwritten) |
| Term lengths | 10-, 15-, 20-, 25-, 30- year term | 10-, 15-, 20-, 25-, 30- year term | 10-, 15-, 20-, 30-year | 10-, 15-, 20-year, 25-, 30-year |
| Eligible ages | 18 to 60 | 20 to 60 | 20 to 85 | 20 to 55 (no medical exam) Up to age 64 (medically underwritten) |
| Monthly cost | Starts at $11 | Starts at $5 | Starts at $8 | Starts at $14.99 |
The biggest difference between Bestow and companies like Ladder, Ethos, and Haven Life is when a medical exam is and isn’t required.
In Bestow’s case, you’re never required to take a medical exam. You get an instant decision and can enroll immediately if you’re approved.
Companies like Ladder and Haven Life have higher coverage limits than Bestow but often require a medical exam. For example, with Haven Life, you can get up to $500,000 in coverage without a medical exam. For amounts higher than this, an exam is required in most cases.
It’s a similar situation with Ladder. It offers term life coverage of up to $8 million, but you’ll need a health check if you’re purchasing a policy for more than $3 million. Still, this limit is double Bestow’s no-medical-exam limit, which is $1.5 million.
Of the companies listed below, Ethos is the only one that offers a whole life option in addition to term life insurance. It also extends coverage to customers up to age 80, whereas the other three companies aren’t available to those over age 60 or 64.
Bestow life insurance FAQs
If you’re looking for an insurance rider, Haven Life has a Living Benefits Rider through its Haven Life Plus plan. And some Ethos life insurance plans include riders.
How we evaluated Bestow life insurance
To help you decide if Bestow is the right life insurance provider for your needs, we evaluated the company on five criteria: cost, credentials, accessibility, customer satisfaction, and how it compares to the competition.
Summary of Miami Herald’s Bestow review
Overall, Bestow is an excellent choice for someone in good health who’s looking for no medical exam life insurance coverage. And with its low cost and convenient online application process, it’s a great option for those who want to be covered quickly and easily.
But if you’re over age 60, have had health issues in the past, or need more than $1.5 million in coverage, Bestow might not be right for you. And in this case, you may want to get quotes and compare coverage options from several of the best life insurance companies to find what best suits your needs.
