Bestow Review: Affordable Life Insurance With No Medical Exam Required [2021]

Bestow offers affordable term life insurance and you can get a quote for your coverage within minutes.
Last updated Mar 30, 2021 | By Christy Rakoczy
Young mom with her kids

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Although it’s not necessarily something you want to think about, purchasing life insurance is essential to help protect your family in case you pass away. With the right coverage, your loved ones’ financial wellness could be assured over the long term.

Traditionally, buying life insurance was a time-consuming process. You needed to find a reputable life insurance agency first, and then make an appointment to meet with a life insurance agent. You also potentially needed to get a medical exam as part of the application process.

But modern technology is changing the insurance industry, and Bestow has created a simpler way to apply for term life insurance coverage. With Bestow, you can complete an application and get a life insurance quote in minutes. Term life insurance premiums start at just $10 per month.

Not sure if this company is the right choice for you, despite its simple application process? Read this Bestow review to find out more.

Bestow Benefits

  • Leave your family up to $1,500,000 in life insurance
  • Apply for a policy in under 5 minutes
  • No medical exam required
  • Policies start at just $10/month

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Life insurance from Bestow: the basics

Bestow
Type(s) of life insurance offered Term life insurance
Coverage amount $50,000 to $1,500,000
Medical exam required No
Term options 10, 15, 20, 25, and 30-year terms
Eligible ages Anyone between 18 and 59 may apply
Availability All states except New York
Visit Bestow

What is Bestow?

Bestow is headquartered in Dallas, Texas, was founded in 2016 by two fathers Jonathan Abelmann and Melbourne O'Banion. They wanted to make it easy to get a substantial life insurance policy without going through weeks of back-and-forth with an insurance agent or undergoing a bunch of medical exams. In fact, they wanted to make it possible for people to get the coverage they need in seven to 10 minutes once approved.

Bestow offers term insurance policies from North American Company for Life and Health Insurance® which has an A+ (Superior) rating from A.M. Best. North American has a long track record — they've been in business for more than 130 years.

Bestow simply makes it easier to get your policy, as you can submit a request for a life insurance quote online, fill out a quick online application, and obtain between $50,000 and $1.5 million in term life insurance coverage once approved.

How does Bestow work?

Bestow can help you get a free quote for term life insurance. With term life insurance, your policy expires at the end of the term specified in your policy documents. That means your beneficiaries are eligible to receive a payout during that time period, but once the term expires, you will no longer have coverage. 

This type of coverage can be a great option for people who don't have or want to spend a lot of money, but who do want a good insurance policy. Bestow offers life insurance policies in 10, 15, 20, 25, and 30-year term lengths.

Term life insurance is different than whole life insurance (a type of permanent life insurance), which is designed to be in effect for the policyholder's entire life, so a death benefit always pays out as long as you keep paying your life insurance premiums. Whole life insurance also has an cash value component and is typically a more expensive life insurance product when compared to term life policies. Whole life can also be more complicated when it comes to the policy itself and the application process.

How to get an insurance quote from Bestow

It's easy to apply for term life insurance through Bestow. When you visit the company website, there's an option on the main page to "Get Estimate." 

You'll then input some basic information including:

  • Your gender
  • Your birth date
  • Your height
  • Your weight
  • Your zip code
  • Whether you use nicotine products

You'll immediately see an estimate of how much your insurance policy will cost. 

After you receive your estimate, you’ll then have the option to use a slider to change your coverage options and to choose either a 10, 15, 20, 25, or 30-year term when it comes to the length of your coverage. As you make changes, such as increasing the amount of your policy or changing the term of coverage, you'll see how your monthly premiums would change.

If you like the quote and decide to move forward, you can click on the next button. You'll need to complete a more detailed application at this point, including answering some questions about your lifestyle, health, and medical history. These questions include:

  • Whether you've lost more than 15 pounds unintentionally in the past three months
  • Whether you've used nicotine or tobacco products in the past 12 months
  • Whether you've ever tested positive for HIV
  • Whether you've received disability payments for more than three months in the past two years
  • Whether you've been advised in the past 12 months to undergo surgery, hospitalization, or diagnostic tests with results you don't yet have
  • What diseases, if any, you've been diagnosed with or treated for throughout the past 10 years
  • Whether you are a U.S. citizen and your Social Security number
  • Where you were born
  • Whether you plan to live outside of the U.S. or to travel to Afghanistan or Iraq in the next year
  • Whether you currently have any life insurance or annuities in effect or pending, or whether you intend to replace or change current life insurance or annuity contracts
  • Your income
  • Your employment
  • Whether you plan to engage in certain high-risk activities or have recently done so — activities include scuba diving, auto racing, outdoor climbing, or piloting an airplane
  • Whether you've been denied life insurance in the past five years
  • Whether you have a valid driver's license and whether it has been suspended or revoked
  • Whether you've been convicted of a felony or a DUI/DWI

This initial application process is fast because of the algorithmic underwriting process that Bestow utilizes to determine your eligibility for a life insurance policy. This algorithm is used instead of having to wait for a human underwriter to review your information. This innovative underwriting process is fast.

By submitting this information, you will receive an instant decision based on the data you entered. If you want to continue, you can move forward with the process of getting your life insurance policy without ever having to get a medical exam. It is important you are honest in your answers, though, as lying on an application for life insurance would render your policy invalid.

Once you're ready to pay for your policy, you will input your credit card information. Apple Pay and Android Pay are also available for payment. This information will be securely stored and Bestow will automatically process your monthly bill so you never have to worry about missing a payment.

How to avoid overpaying for life insurance

To help make sure your insurance coverage from Bestow is as affordable as possible:

  • Avoid using tobacco products in the 12 months before applying for coverage
  • Choose the shortest term for which you need coverage
  • Buy a policy when you're as young and healthy as possible rather than waiting until you're older or have developed a health problem
  • Don't purchase more coverage than you need
  • Aim to achieve a healthy weight before applying

Smoking can significantly raise your life insurance premiums as can sudden, unintentional weight loss. If you develop a health condition before you have coverage, this will also make your policy cost much more.

Buying more coverage than you need is also a bad idea. You want enough life insurance to help ensure your loved ones can maintain their standard of living, which may mean providing sufficient coverage to replace your income, pay off your mortgage, or put your children through college. But you don't necessarily need a million-dollar policy if that doesn't make sense for your personal finances.

Bestow offers coverage for a range of terms. Choosing a shorter term can make sense if your family won't rely on your income for a long time. For instance, if your children are older, you’re close to retirement age, and your spouse could live on your invested retirement funds alone, you might not need a 20-year policy.

FAQs about Bestow insurance

Is Bestow legit?

Bestow is a legitimate company. It has been in business since 2016. To provide the most reputable and affordable term life insurance policy options, it collaborates with a top-rated insurance company that has been in business for more than 130 years.

How much does life insurance from Bestow cost?

Using Bestow to get a life insurance quote will not cost you money. You will, however, have to pay premiums if purchase a life insurance policy. Monthly premiums may be as low as $10 per month, but your specific premium pricing will depend on factors like your age, your policy’s term, and the coverage amount you need.

How does Bestow make money?

Bestow makes money from administrative fees and agency commissions.

Will Bestow look at my credit score?

Life insurance companies will typically look into aspects of your financial history, but not your credit score itself. Bestow states that they will look at data like your payment history and bankruptcy history, but then they will assign you a score based on their own model. They only perform a soft credit check to acquire this information, so you don't have to worry about your application hurting your credit score.

Does Bestow require a medical exam?

You do not need a medical exam to get life insurance offered by Bestow.

Bottom line

If you're between the ages of 18 and 59, are in generally good health, and don't have any felony convictions, Bestow can make it quick and easy for you to apply for term life insurance at an affordable price. You can get quotes in a matter of minutes and be sure that your life insurance needs are handled. 

If, however, you determine that Bestow isn't the right fit for you, there are other insurance products out there. Check out our best life insurance picks to see more options.

Bestow Benefits

  • Leave your family up to $1,500,000 in life insurance
  • Apply for a policy in under 5 minutes
  • No medical exam required
  • Policies start at just $10/month