Bestow Life Insurance Review 2022 – Forbes Advisor
Bestow keeps it simple by only selling term life insurance. You can skip a life insurance medical exam and just answer a few health questions to purchase a term life insurance policy on its online platform. Grant promises that you will get a quick decision on your application.
If you are in poor health or have a medical condition, Bestow may deny your application for term life insurance.
Types of life insurance sold by Bestow
Grant term life insurance
Term life insurance offers level premiums for a specific period, such as 10 years. With other companies, after your policy period ends, you can often renew the policy each year at a higher rate. However, Bestow does not offer guaranteed renewal.
Also, many term life insurance policies include the ability to convert term life to permanent life insurance. Grant policies do not provide this option.
Bestow offers level term life insurance for 10, 15, 20, 25, or 30 years, with coverage amounts ranging from $50,000 to $1.5 million.
Anyone between the ages of 18 and 60 who has never been convicted of a crime can apply for coverage. Bestow coverage is not available in New York State.
The company offers a 30-day money back guarantee for its term life insurance policies.
Bestow Term Life Insurance Rates
Here’s a look at Bestow’s term life insurance rates for different ages and amounts.
Grant 20-year no-exam term life insurance rates for different ages
Award 20-year no-exam term life insurance rates over competitors
Bestow’s pricing for no-exam term life insurance coverage is competitive with other no-exam policies offered by competitors.
Related: The best life insurance companies
Grant company history
Bestow was founded in 2016 and launched its all-digital life insurance platform a year later. Its beginnings were based on the premise that life insurance companies lacked the technological innovation needed to deliver the best user experience and Bestow was 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 Centurion Life Insurance Co., based in Iowa, licensed to do business in 47 states and the District of Columbia.
Bestow has now expanded to 49 states. Life insurance policies are not available to New York residents.
In July 2022, Bestow partnered with Empathy, a platform designed to help people grieving the loss of a loved one.
Beneficiaries of Bestow policyholders, 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 issues, and benefit applications. Empathy members also have access to grief and emotional support resources. Empathy is available in 20 states and can be accessed through a mobile app.