Bestow Life Insurance, built for the modern client, streamlines and simplifies the process of acquiring life insurance. If you meet the profile requirements — that is, if you are healthy and between the ages of 18 and 60 — you should have no difficulty completing the application. If you have complex requirements or desire to customize your coverage with riders, compare life insurance companies.
- Bestow Life Insurance Information
- Bestow’s claim payouts.
- What variables affect the rate I pay for Bestow life insurance?
- How to Obtain a Quote for Bestow Life Insurance
- I’ve enrolled in Bestow life insurance. What Happens Now?
- What types of life insurance does Bestow offer?
- What riders am I permitted to include in my Bestow life insurance policy?
- Reviews and customer service for Bestow life insurance
Bestow Life Insurance Information
Bestow is an insurance technology business focused on term life insurance. It was founded in 2017. Bestow, headquartered in Dallas, wants to eliminate the three primary hurdles to life insurance — time, money, and medical tests — by giving rapid coverage online. It does away with the medical exam in favor of technology and big data, and underwrites insurance in less than ten minutes using algorithms.
Bestow is one of a handful of businesses that are reshaping the insurance market through the use of analytics to assess risk. Bestow has teamed with the North American Company for Life and Health Insurance, a financial behemoth that offers insurance and manages.
Bestow’s claim payouts.
Bestow made waves in early 2018 when it raised $15 million in Series A funding, bringing its total cash raised to more than $18 million. Since then, Melbourne O’Banion, the team’s CEO, has spearheaded the team’s statewide growth. Bestow’s insurance is currently accessible in forty states throughout the country.
What variables affect the rate I pay for Bestow life insurance?
Your premium is determined by your age, health, lifestyle, occupation, and hobbies, as well as the duration and amount of coverage you choose. Bestow reserves its most favorable rates for the least risky applicants and takes the following factors into account:
- Tobacco consumption. To be eligible for the highest rate class, you must verify that you have not smoked in the preceding five years.
- Age. Typically, young, healthy individuals qualify for cheaper premiums.
- Gender. Women have a higher life expectancy than men, which translates into lower insurance premiums.
- Driving history. You’re likely to earn a lower premium if your recent driving record is free of significant traffic violations and DUIs.
- Criminal background. Individuals with a criminal background may have a harder time acquiring coverage.
- Health. To determine your chances of outliving your insurance, the insurer evaluates your cholesterol, blood pressure, BMI, and family medical history. Bestow will almost certainly deny coverage if you have undergone an organ transplant or have one of the following health problems: Before the age of 40, heart disease, stroke, cancer, HIV, renal sickness requiring dialysis, and diabetes.
- Occupation. Certain vocations involve a greater degree of danger than others. Increased pay will be paid to firefighters, fishermen, roofers, loggers, and electrical power-line installers.
- A dangerous way of life. Are you a fan of high-risk hobbies such as scuba diving, racing cars, rock climbing, or recreational flying? Do you travel to dangerous or war-torn countries? The insurance will demand a higher premium to compensate for the risk.
- Alcohol and illicit substances. Bestow is unable to insure those with a history of alcohol or drug abuse.
How to Obtain a Quote for Bestow Life Insurance
- Bestow enables you to obtain a quote, enroll in, and purchase insurance all online.
Click Let’s Begin or Request a Quote from Bestow’s website. Then, before clicking, provide your gender, birthday, height, weight, and state of residence. Click Request a quote!
- You will be sent an an updated quote. Select the amount of coverage and the duration of the contract. Click Start Application if you are pleased with your new quote.
- To begin, you must create an account by providing your your address and establishing a password.
Then, as you navigate the program, enter personal, health, and lifestyle data. After you’ve completed the form, click Submit Your Application.
I’ve enrolled in Bestow life insurance. What Happens Now?
If permitted, you must check the amount of coverage and the length of the insurance before entering your credit card information to finalize the transaction.
What types of life insurance does Bestow offer?
Bestow Insurance Company is an insurance company that specializes in term life insurance. You may pick from coverage levels of $50,000 to $1.5 million and maturities of 10, 15, 20, 25, or 30 years. As long as your insurance is in force, your rates will stay unchanged. On the other hand, term life insurance policies are non-renewable, which means that if you wish to continue receiving coverage at the end of the term, you must reapply for a new policy.
What riders am I permitted to include in my Bestow life insurance policy?
Bestow does not allow policyholders to add riders to their policies in order to avoid confusing the platform’s algorithms. If you desire to add standard riders to your insurance, such as a premium waiver, you will need to seek coverage elsewhere.
Reviews and customer service for Bestow life insurance
Since 2017, Bestow has been a Better Business Bureau-certified member, earning an A+ rating for its operations and level of customer care. The Better Business Bureau has received three complaints in the last three years, which is a small amount for an insurance business. Customers have rated the insurer 1.75 stars out of 5, however this is based on a tiny number of reviews.
Bestow has a TrustPilot rating of 4.8 out of 5 stars, based on 500 reviews. Users have lauded the straightforward application process, superior customer service, and ability to acquire fast coverage, but some have voiced displeasure with the absence of a permanent policy.
Check out our Northwestern Mutual Life Insurance Review.