Bestow Life Insurance Review

Bestow Life Insurance Ratings at a Glance

Find everything you need to know about this up-and-coming term life insurance option and how it can help you.

You may be asking yourself, “how much life insurance do I need?” Perhaps you have a decent idea of how much you need but no real plan on how to go about obtaining life insurance. Understanding how to buy life insurance is an important step in getting the financial protection customers need in case something happens that changes everyone’s life around that policy. 

There are some people for whom Bestow is a better fit than other life insurers: 

• People in transition from one job to another: Not having life insurance between jobs can be risky. If you have a family and children, having ample protection in case something happens to you is a must.
  
• People who are moderately healthy: Bestow doesn’t require you to go through a medical examination or have blood tests to get approved for coverage, which is a far cry from most carriers.
  
• People who need insurance quickly: If you want 10- or 20-year term insurance with up to $1 million of coverage, the online approval process is faster than trying to get term insurance the traditional way.
  
• People who are between 21–40: This age bracket wants simple coverage at an affordable rate. Parents, young couples and individuals this age want the simplicity of an online approval platform, and Bestow offers that sort of life insurance policy as it provides both a death benefit and flexibility that you require. 

• 10-Year Term insurance: Term life insurance for a 10-year span of time; includes up to $1 million worth of coverage.
  
• 20-Year Term insurance: Term life insurance for a 20-year timeframe; includes up to $1 million worth of coverage. 

Bestow offers numerous term life options. Through its online approval process, you simply choose the amount of coverage you want and answer a few simple health questions. In just minutes, Bestow pulls information about you from available databases on the web with your permission and uses its intelligent algorithms to determine whether you qualify for coverage. 

These payments do not necessarily have a cash value, and you should ask about these options when you hear your life insurance quote. When you get your life insurance rate, remember that these rates will remain the same. The only way to see the rate change is if you purchase further coverage in the future.

Bestow prides itself on offering a digitally-based alternative to the process of buying life insurance the old-fashioned way. It does this by pulling freely available information about you from a variety of databases. This can only be done with your permission using the information you entered on the application, and the life insurance carrier will begin the underwriting process.

The process is surprisingly fast, owing to Bestow’s intelligent algorithms and thorough search capabilities. The system is smart enough to know how to make a fairly accurate decision about your approval based on a variety of factors, and a great deal of thought and attentiveness has contributed to making the process user-friendly. 

The price you pay for life insurance depends on your age, general health, gender and whether or not you’re a smoker. For example, a 25-year-old female nonsmoker who wants 10 years and $50,000 worth of coverage would pay only $8 per month according to Bestow.

Because the life insurance costs with Bestow are relatively low, you can afford to invest saved money in other things. Remember, though, that options like whole life insurance from another life insurance platform will be far more expensive.

For example:

A healthy 27-year-old female nonsmoker can get a 20-year term for $34 per month, while a healthy 35-year-old man who doesn’t smoke can get covered for a decade for just $26 per month. Everyone’s insurance needs are different, which is why it’s a good idea to try out the online quote and approval process with Bestow. (This information is accurate as of 11/6/2019).

Overall, we’ve found Bestow to be a great value for the money if you’re in good health, a non-smoker and between the ages of 21–45. 

Get a customized quote from Bestow here.

Filing a claim with Bestow is simple and straightforward. Bestow aims to process most claims within 10 days. This is generally how life insurance works, but all life insurance companies are different. Filing a claim with Bestow can be done in 3 simple steps: 

1. Fill out the online form
2. Bestow then works with their insurance carrier to expedite claim processing
3. As long as there are no disputes, the insurance partner contacts the beneficiary to get the relevant information in order to pay the claim

Bestow fills a specific need in the life insurance market: insurance for people within a specific age bracket who need term life insurance and are moderately healthy. The online application process has streamlined inefficiencies that can be found within the traditional life insurance buying process, planting Bestow neatly into a category of startups that shake up the status quo by adding greater efficiency and understanding.

With a simple application process and approval that can be completed in 5 minutes online, Bestow is a solid option for life insurance shoppers who are looking for a 10-year or 20-year short-term insurance plan without a lot of hassle or paperwork. If you want to get away from traditional life insurance carriers and underwriters, Bestow is a good place to start.

Bestow vs Competitors

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