Bestow Life Insurance Review | 2024

Q: How much does a Bestow life insurance policy cost?

According to Bestow, rates start at $11 per month on a 10-year, $100,000 policy for a healthy 18-year-old male who doesn’t use tobacco. For a 32-year-old female who is healthy and doesn’t use tobacco, the rate starts at $20 per month for a 20-year, $500,000 policy. Based on general estimates we pulled from Bestow’s website , a policy can range from $11 to $113 per month depending on your age, health, term, coverage and other factors.

Bestow markets itself as a fast and cheap way to get term life insurance. Read our detailed guide for policy details and more.

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Updated: Apr 23, 2024

Written by Taylor Medine

Written by Taylor Medine Author

Taylor Medine started blogging about her experiences stretching a dollar in 2013 as a recent college grad. Eventually, that passion grew into a career studying personal finance topics and demystifying them for people like her — the everyday consumer. When she’s not writing, you’ll find her hunting for travel deals or trying (and often failing) at a DIY project.

Edited by Tori Addison

Edited by Tori Addison Editor

Tori Addison is an editor who has worked in the digital marketing industry for over five years. Her experience includes communications and marketing work in the nonprofit, governmental and academic sectors. A journalist by trade, she started her career covering politics and news in New York’s Hudson Valley. Her work included coverage of local and state budgets, federal financial regulations and health care legislation.

Death can be an uncomfortable life event to plan for, but investing in life insurance can financially protect your family when it inevitably happens. In this detailed review, we compare the pros and cons of Bestow life insurance, including coverage options, costs and what customers have to say about the company.

We at the Guides Home Team have reviewed the top life insurance companies to help you find a provider that best fits your needs. Read on to learn how Bestow can make getting a life insurance quote and securing coverage quick and easy.

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Bestow Life Insurance Overview

Founded in Dallas in 2016, Bestow is an insurance tech company that specializes in term life insurance policies — or life insurance with a specified end date. Bestow is a simple and affordable life insurance option, with term life policies starting at just $11 per month. This can make it an attractive choice for adults with young families who want to lock in low-cost protection.

The company has a quick application process and grants instant decisions for eligible applicants. It uses underwriting technology to review data points about your background and determine if you qualify for coverage without a medical exam. Instead of requiring a medical exam, Bestow bases life insurance approvals on your answers to online health questions, plus other information like your credit history, prescription history, driving record and prior insurance applications.

Bestow policies are issued by North American Company for Life and Health Insurance®, which is part of Sammons Financial Group and has an A+ AM Best rating. This is a superior financial strength rating, which means the company demonstrates a strong ability to keep up with its financial obligations, such as paying out claims.

Bestow Pros and Cons

How Bestow Scored in Our Methodology

When we analyzed Bestow using our provider review methodology, the company scored 3.5 out of 5 stars. It earned points thanks to its streamlined application process and lost points because it has fewer coverage options than some competitors.

Flip Card Life Insurance Rating

MarketWatch Rating 4.0 / out of 5 stars

Rating is based off of MarketWatch Methodology Guidelines

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Rating breakdown

Coverage 3 / 5

Riders 3.1 / 5

Availability and Ease of Use 4.7 / 5

Brand Trust 0 / 5

Types of Life Insurance Offered

Life insurance provides a death benefit payout to beneficiaries, such as $100,000, $250,000 or $500,000, when the policyholder dies. If you financially provide for loved ones, this lump sum can help them cover funeral expenses and other living costs after losing your source of income. In exchange for coverage, you will have to pay a monthly premium while your life insurance policy is active.

Life insurance comes in two categories — term life and permanent life. Bestow only offers term life insurance, which means coverage options are limited with the company.

Term Life Insurance

Term life insurance is a life insurance policy that covers you if you die within a specific period. Bestow offers policy terms that range from 10 to 30 years, and coverage amounts that range from $100,000 to $1.5 million. You must be between the ages of 18 and 60 to qualify for coverage.

Term policies have a free look period where you can get a complete refund if you cancel within 30 days. If you can’t pay your premiums, you also get a 60-day grace period where coverage continues as long as you pay the premium before the grace period ends.

When the policyholder dies, Bestow also provides beneficiaries the death benefit payout and free access to Empathy, an app that offers resources for handling someone’s final affairs.

Permanent Life Insurance

Bestow doesn’t currently offer permanent life insurance, a type of policy that earns cash value and covers you for an unlimited term (as long as you pay your premiums).

Permanent types of coverage, such as whole life insurance policies, generally cost more than term life insurance. So, if your priority is finding cheap coverage, Bestow’s lack of permanent options may not be a dealbreaker. However, looking at providers that offer whole life insurance could make sense for adults who want to use life insurance as a financial tool before death. That’s because you can borrow from cash value during your lifetime, and it earns interest.

Cost of Bestow Life Insurance

Life insurance companies base policy approvals and premium prices on your risk level. Generally, people who are young and considered in good health qualify for the best life insurance rates. Below are factors that Bestow may consider when determining your premiums:

Birth date and age
Medical history
Health
Weight
Gender
Tobacco use

Cost of Term Life Insurance

Bestow shares example premiums on its website for a non-smoking woman with coverage amounts of $100,000 to $1,000,000. Based on these estimates and depending on the coverage level you select, a Bestow life insurance policy can cost anywhere between $11 to $113 per month. To give you an idea of how age factors into premium costs, we pulled estimates from Bestow’s website for a 30-year term life insurance policy with varying coverages.

Policyholder Age	Monthly Estimate for $100,000 in Coverage	Monthly Estimate for $250,000 in Coverage	Monthly Estimate for $500,000 in Coverage	Monthly Estimate for $1 million in Coverage
25	$11.42	$16.21	$25.17	$44.33
30	$12	$18.29	$28.92	$51.83
35	$12.58	$21	$33.50	$61
40	$15.92	$25.17	$42.25	$78.50
45	$18.58	$34.54	$59.75	$113.50

Note: The above premiums are for example only and based on data pulled by Bestow on Aug. 30, 2022. Your cost will vary depending on your age, health and other factors. To get the most accurate policy pricing, apply at Bestow.com.

Bestow Customer Reviews

To better understand Bestow’s customer experience, we read hundreds of reviews on platforms like the Better Business Bureau (BBB) and Trustpilot. Bestow has received both positive and negative reviews on these sites, which we include examples of below.

Many reviewers have good things to say about Bestow’s application speed and pricing.

“With [the] cost of living on the rise, I wanted peace of mind with a second life insurance policy. Quick approval and at a decent price compared to my USAA policy.” — Richard G via the BBB

“[Bestow] accepted me immediately. Good rate for the amount of coverage.” — Rissa M. via the BBB

Other customers found pricing wasn’t as competitive as they expected, and one person had unexpected cancellation issues with their life insurance plan.

“Stay away unless you are ready to pay three to four times the initial quote. Even if you have a glamorous application and all the good answers, if there is a tiny issue within the last 10 years, Bestow won’t ask you if it was resolved and triple the [premium] price. I am very healthy, fit and active and [Bestow] quoted more than three times the initial quote after it got all my personal info.” — Sara via Trustpilot

“This company should be avoided at all costs. It sold us a policy, took payments for a year, then decided we didn’t really buy the policy and canceled it. What kind of scam is this place running? It refused to return emails and phone calls or answer the formal complaint I filed with the [Texas Department of Insurance]. It should be sued out of business.” — RJ via Trustpilot

We reached out to a Bestow representative by email who shared the following comments in response to the negative reviews above: “Our eligibility and premium rates are competitive with many fully underwritten insurance products. We have not and would not ignore a regulator’s contact regarding a filed complaint.”

If you need to speak with a representative about your policy, Bestow has a Customer Care team that includes licensed insurance agents you reach by phone or email with complaints or issues.

The Bottom Line

Bestow offers affordable term life policies without health exams for eligible applicants. This is an ideal policy for young and relatively healthy adults who are looking for a simple and low-cost way to get life insurance coverage fast.

If you want a permanent life insurance policy with customizable add-ons, Bestow is not the best fit. This insurance carrier only offers term life insurance with no add-ons, like living benefit riders. As an alternative, we suggest you compare life insurance providers and get at least three free quotes to find a policy that fits the budget and coverage you need.

Frequently Asked Questions About Bestow Life Insurance

Currently, Bestow doesn’t offer permanent life insurance policies that earn cash value. Bestow coverage is limited to term life insurance products with terms of 10 to 30 years. While cash value doesn’t come with this type of policy, the death benefit can be a simple way to provide financial support to your family when you die to help cover funeral expenses or outstanding credit card or loan debt.

Bestow does not currently offer riders or additional benefits to customize your policy. If you’re looking for accelerated benefit riders that provide an early payout if you become chronically or terminally ill, you’ll need to consider other options. However, one extra perk the company does provide is free bereavement resources to beneficiaries if the policyholder dies.

Where Bestow shines is the underwriting algorithm that uses a questionnaire and other data to make quick coverage decisions. Bestow also offers multiple insurance term lengths you can choose from to meet your financial goals.

Say your main goal is for your life insurance payout to cover your mortgage so your family can live mortgage-free after you die — you could choose a 30-year policy term to cover your mortgage loan. Or, if you want to pay for your child’s college education, you could choose a 20-year term to ensure they have funds for tuition.

According to Bestow, rates start at $11 per month on a 10-year, $100,000 policy for a healthy 18-year-old male who doesn’t use tobacco. For a 32-year-old female who is healthy and doesn’t use tobacco, the rate starts at $20 per month for a 20-year, $500,000 policy.

Based on general estimates we pulled from Bestow’s website, a policy can range from $11 to $113 per month depending on your age, health, term, coverage and other factors.

Methodology: Our System for Ranking Life Insurance Companies

Our team researches and ranks life insurance companies using an in-depth scoring system that considers the factors most important to consumers like you. Our analysis includes a comprehensive review of each provider we feature based on available coverage, customizability, availability, customer service and company reputation. Here are the factors we take into consideration when rating life insurance providers:

Brand trust (40%): Life insurance payouts can exceed $100,000 or more, which makes choosing a reputable and trustworthy installer important. To assess brand trust, we use J.D. Power and Associates customer satisfaction surveys, AM Best credit rating scores and the National Association of Insurance Commissioners (NAIC) complaint index. The higher a company scores in each area, the more points it receives.
Coverage (33%): The more policy options a life insurance company offers, the more opportunities you have to obtain the right coverage for your specific needs. For this reason, we give companies the most points for offering multiple types of life insurance, including various term, permanent and no-exam options.
Availability and ease of use (19%): Since life insurance coverage options can be complex, we consider the ways a customer can reach a company — and how easy communication is. For this category, we research how many communication channels a company offers for general customer support, claims processing and the application process. Companies earn the most points for offering various ways to interact with an agent, both in-person and online.
Riders (8%): Companies offering various life insurance riders or endorsements allow policyholders to better customize their coverage. In this category, we determine how many riders a company offers and award the most points to providers with more than 10 options.

We use our rating system to compare and contrast each company against key factors to help us determine the best life insurance companies in the industry. To learn more, read our full life insurance methodology for reviewing and scoring providers. AM Best Disclaimer