October 9, 2019 12:00 PM PT

Bestow Life Insurance Review

Read more about Life Insurance

Bestow approves or declines your application in five minutes. No medical exams or underwriting needed. Sound too good to be true? Keep reading to find out how it works.

Bestow promises life insurance without hassle. Founded in 2017, Bestow uses its own algorithm to underwrite policies. In other words, they approve or deny policies based on data rather than medical exams.

In less than five minutes, your application will be decided, up to $1 million. Bestow partners with North American Company for Life and Health Insurance, which has an A+ (Superior) A.M. Best rating.

Read on to learn more about this innovative company.

What Bestow Offers

Bestow sells one type of life insurance—term life. You choose the length of the term, from 2, 10, or 20 years. If you are still alive at expiration, the policy expires unused.

You can get coverage up to $500,000 for the two-year term and up to $1 million for the 10- and 20-year terms.

Bestow's policies are available for applicants age 21 to 55 with some restrictions. Coverage isn't available in New York.

The Application Process

Bestow simplified the application process. You can even apply from your mobile phone. The application has four parts:

  • Personal Information: Provide your name, birthdate, address, and Social Security number.

  • Lifestyle: Answer questions about your medical history, hobbies, life choices, and citizenship.

  • Beneficiaries: Name the people who will receive benefits in the event of your death.

  • Policy and Payment Information: Accept the policy and provide your payment information.

Bestow's application process is handled online, but you can speak with a customer care advisor at any time. Just call 1-833-300-0603 to ask your questions or express concerns.

Reasons We Like Bestow Life Insurance

Cancel Anytime
Bestow charges no penalty for ending your policy. This gives you flexibility if you get life insurance at work, can't afford the policy, or have greater needs.

No Medical Exams
Giving blood and urine samples and answering personal questions can be unpleasant. Bestow doesn't require medical exams for anyone. If you don't meet their guidelines, you don't get insurance.

Why is there no medical exam?
Bestow relies on their underwriting algorithm and data to make decisions. They use credit report, health, prescription, and driving records to make decisions rather than medical exams.

Short-Term Option
Sometimes you just aren't ready to commit. Bestow's two-year policy lets you take some time to plan your future while staying protected against the unexpected.

Serious Security
Bestow uses the highest level of security to encrypt all information shared online. Stripe, a payment processor, stores your information in their secure system.

Lower Premiums
Bestow is able to offer competitive premiums due to its low overhead. They don't have commissioned sales agents or fancy offices. You do everything online and the company passes the savings on to you.

30-Day Free Look Period
Get a full refund if you decide you don't like the policy or can't afford it.

Missed Payment Coverage
A missed payment doesn't mean a lapsed policy. You keep coverage for the 30 days following the missed payment. If you make your premium payment the following month, you keep your coverage. Bestow deducts the missed premium amounts from the death benefit.

Premiums Don't Change
Unless you switch your policy, you'll know from day one how much you pay monthly for life insurance.


Policies Don't Renew
Once your coverage ends, that's it. If you are young enough, you may re-apply, but you'll likely pay higher premiums. Make sure you choose a term that will cover the period you need.

No Coverage for Older Applicants
Only those ages 21–45 can get a 20-year policy (the max age is 43 if you're a smoker). Applicants must be 21 to 55 to apply for the two- or 10-year policy.

No Riders
If you want accelerated death benefits, child/spousal protection, waiver of premium, or disability coverage, you'll have to look elsewhere. Bestow keeps its policies simple.

How It Compares

vs Haven Life
Like Bestow, Haven Life provides only term life insurance. The online application process takes about 20 minutes and you can apply for $1 million in coverage up to age 59.

Backed by MassMutual, Haven Life offers simplicity with security. If you need a medical exam, you can buy temporary coverage for 90 days while they underwrite your policy.

vs Ladder
Ladder offers online term life insurance policies. Get coverage from $100,000 to $1 million with no medical exam or up to $8 million with full underwriting/medical exam.

The company also lets you change your policy during the term. Need more insurance? Apply online through your account—you don't have to cancel your policy and start a new one. Need less? Decrease your coverage and pay lower premiums right away.

vs Fabric
Unlike Bestow, Fabric offers accidental death as well as term life insurance policies. Accidental death insurance offers instant approval with no underwriting. You can cancel at any time.

Fabric's term life insurance is available in 10-, 15-, and 20-year terms. They offer up to $1 million in coverage. Fabric also offers the option to convert to a whole life policy.

Bottom Line

Bestow offers life insurance for those who don't have time for medical exams and long underwriting periods. If they consider you healthy and low risk, you may pay cheap premiums.

But make sure you compare the offer to other companies. Find the coverage you need now and in the future.

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