Bestow Review: Term Life Insurance With No Medical Exam
Term life insurance meets the 21st century with this easy-to-use platform.
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Life insurance is not exactly what I’d describe as a popular topic. It’s not something most people want to think about for too long or bring up at dinner parties, but it’s definitely something you should be informed about—especially if you have a child, partner, or elderly parents who depend on you.
As is the case with most things in life, the earlier you handle it—the better. The simple truth is that as people age, their monthly life insurance premiums tend to go up. So even if you don’t feel like you need it this exact moment, it’s still worth looking into in order to save a few bucks down the road. Especially because premiums start as low as $16 per month. I spend more than $16 per week on coffee!
Through the wonders of high speed internet access, the process of applying for life insurance has literally never been more simple. You won’t need to fill out a phonebook sized paper application, and you won’t need to get poked or prodded by a doctor for an in-person exam in order to apply.
If you’ve been putting off life insurance because it seems complicated, inconvenient, or invasive, you’ll want to learn more about Bestow. Their process is as convenient as it is lightning fast, making it easy and painless to secure this critical aspect of your financial plan.
Overview of Bestow
There are many different types of life insurance policies out there, but Bestow focuses exclusively on term life insurance, and they aim to simplify the process. The policies they offer come with a term of 10 or 20 years and range in coverage from a minimum of $50,000 to a maximum of $1,000,000, and no medical exam is required as part of the application.
Coverage offered by Bestow starts at as little as $16 per month. Of course, the price you’ll pay will be dependent on details like your age, health, and the policy that you select.
Because the application process with Bestow is so quick and simple (more details on that in a minute), getting a quote from Bestow is an easy decision for anyone who is considering term life insurance.
What Makes Bestow Different?
If you’re in the market for life insurance, you’ll face no shortage of options. However, Bestow isn’t like every other life insurance company. There are several key ways that Bestow stands out.
Convenience & Speed
You can get an estimate of your monthly premium in seconds just by answering 5 simple questions. If you decide to move forward with your application, you’ll find out whether or not you were approved within minutes.
As far as life insurance agencies go, you are unlikely to find one that is more convenient than Bestow.
No Medical Exams
This is a massive benefit. The process of applying for life insurance typically involves a medical exam. The appointment could be at a doctor’s office, a lab, or some insurers will send a nurse to your home or place of work to conduct the exam.
No one enjoys going through the process of an invasive medical exam. It usually involves drawing blood that gets sent off to a lab and the tests must be completed before you can be approved for the policy and before the premiums are determined.
The most significant way that Bestow stands out from other life insurance companies is by not conducting medical exams. If you want to apply for a life insurance policy, you’ll simply need to answer some questions about your health and medical history. There are no inconvenient appointments and no blood work, making it a much more pleasant experience.
Most insurance companies rely on human underwriters during the application process and for getting the policy started. The use of underwriters adds to the length of time it takes to get the policy approved and in force, and also introduces the possibility for human bias.
Instead of using underwriters, Bestow uses technology to make approval decisions. The result is a much faster process that allows most customers to get a price quote and start the policy in a matter of minutes, and whenever it’s convenient for customers.
Bestow policies are provided by North American Company for Life and Health insurance ® , which is rated A+ by A.M. Best for financial strength and rated A+ by the Better Business Bureau. Bestow is available for customers throughout the United States, except in New York.
Bestow doesn’t offer the widest range of products. Instead of offering many different types of life insurance policies, they’ve taken the approach to focus exclusively on term life insurance. They aim to be the best at what they do, rather than trying to offer a wider range of options.
Why Term Life Insurance?
With multiple types of life insurance out there like term, whole, universal, variable, and others, you may be wondering which one is right for you.
There is a time and place for each type of life insurance policy that exists, but with a term policy, you’re able to get the coverage needed to protect your loved ones in case something were to happen to you, and you can do that at the lowest rate possible.
Many financial experts recommend going with a term life insurance policy to keep your life insurance and investments separate. Pay a lower premium by going with a term policy, and then invest the money that you’ve saved by not choosing another type of life insurance.
While the other types of life insurance can be very complicated, term life insurance is refreshingly straightforward. It’s never a good idea to move forward in something that you don’t understand, so term life insurance stands out in this way as well.
For most people, term life insurance is an affordable choice.
The Application Process
The application process is really what sets Bestow apart from its competitors, so let’s take a look at just how fast and simple it is to apply with Bestow. To get started, head to their website and click on the “get a quote” button.
To start the application, simply enter a few details like your gender, date of birth, height, weight, zip code, and check the box if you currently use nicotine products.
Next, you’ll see an estimate of your monthly premium. You can switch between 10 and 20-year terms or adjust the coverage amount and the estimate will automatically adjust.
Up until this point, you haven’t entered any contact information. If you value privacy, and I’m sure you do, you’ll love the fact that you can get a quick estimate without giving up your contact info. If you like the estimate and you want to complete the application process, you can click “next” and you’ll be led to a page where you’ll enter details like your name, email, phone number, and mailing address.
The next step is to complete the application. Instead of a medical exam, you’ll be asked a short series of health and lifestyle questions.
The application is very quick and only takes a few minutes. I was done with all of the questions in about three or four minutes.
After you’ve answered the questions, the last step is to enter your social security number and agree to the terms of the application. Once you’ve done that, Bestow will provide you with an instant decision and you can elect to begin the policy immediately if you’re happy with the premium and terms.
Compared to the application process used by most insurance companies, getting a quote from Bestow is incredibly simple and convenient. You don’t need to set aside time for a phone interview or a medical exam. Everything can be done online at your convenience, and you’ll get a quick decision.
- No Medical Exam or Lab Test - If you don’t like the idea of subjecting yourself to a medical exam as part of a life insurance application, Bestow could be the right choice for you.
- Easy and Convenient Application Process - With no need for a medical exam and the application process entirely online, Bestow offers a high level of convenience. Complete the application whenever it works for you.
- Fast Quote - With just a few minutes of your time, you can get a quote from Bestow. If you’re shopping for life insurance, there’s no reason not to at least get a quote.
- No Sales Pressure - Completing an application won’t lead to high-pressure sales tactics. If you’re happy with the quote, you can start the policy right away. If not, you won’t be bombarded with sales calls.
- Simplicity - Bestow makes the entire process as simple as possible. This includes the fact that they only offer a few different policies, so it’s easy to choose what’s best for you.
- Convenient Payment Options - Bestow customers can pay monthly premiums with a credit card, Apple Pay, or Google Pay.
- Limited Options - While Bestow’s simplicity can be a major pro, the lack of options could also be seen as a con. If you want a term other than 10 or 20 years, or if you want coverage that exceeds $1,000,000, you’ll need to look elsewhere.
- Age Restrictions - Bestow only serves customers who are 21-55 years old. Policies with a 20-year term are limited to customers who are 21-45. This is more restrictive than most life insurance companies.
- Potentially Higher Prices - While a medical exam can be invasive, you may be able to qualify for a reduced rate with another insurance company if the exam shows that you’re in excellent health. As a result, the prices from Bestow could be higher for some customers.
Bestow Is Best For…
Bestow is an excellent choice for customers who are young (between the ages of 21 - 55), in good health, and looking for simple life insurance.
If you favor simplicity over convenience and endless options, Bestow could be a good choice for you.
And of course, Bestow is also a great option if you simply don’t like medical exams.
A Final Word on our Bestow Review
While no insurance company will be the right choice for everyone, applying with Bestow is so fast and easy that it’s worth your time regardless of your current situation. If you’re even thinking about the need for a life insurance policy, or looking to get a quote to compare to your current policy, it makes sense to see what Bestow has to offer.
If you like the price and terms from Bestow, you can move forward and start the policy very easily. And if it’s not the best option for you, the only cost was a few minutes of your time.
Bestow has an excellent 4.7 out of 5 rating based on hundreds of reviews at Trustpilot, so you can be confident that others have had a good experience.
To get your free quote, simply go to Bestow’s website and click on the “get a quote” button.