Bestow Life Insurance Review 2024

Our Verdict

Bestow life insurance might be worth considering if you are in good health and looking for quick, no-frills term life insurance. The company offers no-exam life insurance and an application process that is 100% online. But our evaluation found that its no-exam term life rates are higher than most companies we evaluated.

Pros

Instant approval for most customers.
High eligibility age (60) for the maximum coverage amount of $1.5 million.
Policyholders can use the policy as collateral for a small business loan.

Cons

No accelerated death benefit, which provides access to your own death benefit if you become terminally ill.
Rates for no-exam term life are more expensive than many competitors we evaluated.
No ability to renew the policy after the initial term expires.

Table of Contents

Bestow keeps it simple by selling only term life insurance. You can skip a life insurance medical exam and simply answer a few health questions to buy a term life insurance policy on its online platform. You’ll get a quick decision.

If you are in poor health or have a medical condition, Bestow might decline your application for term life insurance. You might also consider one of the best no-exam life insurance companies reviewed by Forbes Advisor.

Types of Life Insurance Sold by Bestow

Bestow Term Life Insurance

Bestow offers no-exam level term life insurance for 10, 15, 20, 25 or 30 years, with coverage amounts ranging from $50,000 to $1.5 million.

Term life insurance offers level premiums for a specific period, such as 10 years. You cannot renew Bestow life insurance at the end of this level term period. With many other companies, after your level term period ends you can often renew the policy each year at a higher rate.

Also, many term life insurance policies include the ability to convert the term life to permanent life insurance. Bestow policies do not offer this option.

The company offers a 30-day free look period. You can cancel the policy for a full refund during that time.

Compare Bestow With Other Insurers

Bestow

Instant

$1.5 million

10, 15, 20, 25 or 30 years

Bestow

Via Bestow.com's Website

Lincoln Financial

Stock

A+ (Superior)

Lincoln Financial

Compare quotes from participating carriers via Policygenius.com

Mutual of Omaha

Mutual

A+ (Superior)

Mutual of Omaha

Compare quotes from participating carriers via Policygenius.com

Bestow’s Term Life Insurance Rates

Bestow’s term life insurance rates for various ages and amounts show that women typically pay less than men for life insurance, and costs increase as you age.

Bestow No-Exam 20-Year Term Life Insurance Rates for Various Ages

Coverage	Age 30, annual rate	Age 40, annual rate	Age 50, annual rate
$500,000 term life insurance	Male: $433 Female: $402	Male: $676 Female: $524	Male: $1,563 Female: $1,211
$1 million term life insurance	Male: $791 Female: $718	Male: $1,277 Female: $974	Male: $2,991 Female: $2,335

Source: Forbes Advisor research

Bestow No-Exam 20-Year Term Life Insurance Rates Compared to Competitors

Bestow’s rates for no-exam term life coverage are generally higher than no-exam policies offered by competitors such as Ethos and Prudential.

20-year term life insurance for a 40-year-old female	Bestow	Ethos	Prudential
$500,000 term life insurance	$524	$336	$370
$1 million term life insurance	$974	$595	$605

Source: Forbes Advisor research

Bestow Company History

Bestow was founded in 2016 and launched its entirely digital life insurance platform a year later. Its beginnings were based on the premise that life insurance companies lacked the technological innovation needed to offer the best user experience and Bestow committed to changing that.

Bestow is an agency that manages its policies, which are issued by North American Co. for Life and Health Insurance.

In 2021, Bestow acquired Iowa-based Centurion Life Insurance Co. Bestow has expanded to 49 states. Life insurance policies are not available to residents of New York.

In 2022, Bestow partnered with Empathy, a platform designed to assist individuals who are grieving the loss of a loved one. Beneficiaries of Bestow policyholders in 20 states, as well as up to nine friends and family members, can take advantage of Empathy’s services. Features include assistance with funeral planning, probate and estate concerns, and benefit claims. Empathy members also gain access to grief and emotional support resources.

Empathy services can be accessed through a mobile app.

Bestow Quick Facts

Year established: 2016
Location of headquarters: Dallas
How to buy Bestow life insurance: Bestow policies are available online through the company’s website.