Bestow Life Insurance Reviews – Get familiar with Bestow Life Insurance

Easy payout and fast online application process are the words we would use to describe Bestow Life Insurance. Bestow is an American life insurance agency founded in Dallas, Texas, and introduced in 2016. Even though the company plans to become an independent insurer, for now, North American Company For Life And Health Insurance honors all of the underwriting rules, policies, and Bestow clients’ applications. Their advertising slogan depicts simplicity: ‘Term life the way it should be: easy. No hoops. No headaches. Just insurance. The only 100% no medical exam term life insurance.’

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This relatively new startup company offers term life insurance. The North American Company For Life issues the Bestow Life Insurance coverage And Health Insurance rated A+ (Superior – second-highest grade) by an independent insurance company rating party A.M. Best. A.M. Best rates the insurance company’s financial strength and ability to pay out the insurance coverage to the policyholder’s loved ones.

The insurance industry may be confusing for some but worry not. In order to help you, we are coming with Bestow Life Insurance review. We will get into every detail of Bestow and cover:

  • Bestow’s available policies, riders, and rating
  • The price ad coverage of Bestow Life Insurance
  • Cancellation of Bestow Life Insurance
  • Pros and Cons of Bestow Life Insurance
  • The alternative for Bestow – The Infinite Banking Concept

By the end of this article, you will know if Bestow Life Insurance is for you or maybe there is a better way to manage personal finance. Read on and become more conscious of the best life insurance options for yourself.

Bestow Life Insurance policies, insurance riders and life insurance rates

When it comes to Bestow Insurance Plans, there is not too much of choice. Bestow offers only one type of life insurance policy – a term life insurance policy. However, you can choose an appropriate term length for your situation. You can choose between few term options:

  • 10-Year Term
  • 15-Year Term
  • 20-Year Term
  • 25-Year Term
  • 30-Year Term

Unfortunately, each term has its own limitation. There are strict age requirements that have to be met in order to get an X- year policy for life insurance:

10-year term

People aged 18 to 60 at maximum.

15-year term:

The maximum age is reduced by five compared to the one of the 10-year term: Age 18-55

20-year term

Adding another five years to your term length reduces it, at the same time, from the maximum age of the previous term length. So, in order to get a 20-year policy, you have to be between 18 and 50.

25-year term

Here the requirements start to get a little bit more complicated. In order to get the 25-year policy, you have to be a non-smoking person aged from 18 to 45. However, women, who are smoking, can only apply up to 39 years old. For men, it is even less- you have to be 37 years old at most.

30-year term:

The most extended term length also has the most strict rules. Only non-smoking women aged 18 to 40 can apply for life insurance. When it comes to non-smoking men, they have to be between 18 and 39. However, for tobacco users, both male and female, the age limits are significantly reduced. A smoking woman can only be 31 years old in order to get a 30-year policy, while the smoking man has to be even younger – 30 years old at most.

Because Bestow offers only simplified term life insurance, there are no additional insurance riders. While most other insurance companies provide their policyholders with extra options in the event of serious illness, Bestow stays true to their slogan and provides no such thing. Paid-up additions riders can be a significant asset for your financial situation and management, but keep in mind that Bestow will not even give you the possibility of purchasing them.

The insurance rates are various, defined by particular circumstances. The company considers gender, age, height, weight, living location, tobacco use, and on those bases, the insurance rate. Below are presented estimated monthly rates for $500,000 in coverage for people who are 68 inches tall, 160 pounds, and live in Illinois, created by using Bestow’s online free quote tool.

Age (term length) Male Female

30 (20 years) $22.25 $16.83

35 (20 years) $31.42 $22.67

40 (20 years) $41.00 $28.92

45 (20 years) $52.67 $41.42

50 (15 years) $65.58 $46.00

55 (10 years) $84.75 $58.50

60 (10 years) $114.75 $78.50

Examining Bestow’s life insurance product, we can tell you it is slightly more expensive than Policygenius or Haven Life. As a disclaimer: Monthly rates may differ across various states.

The pricing, term life insurance coverage and coverage guidelines

When it comes to pricing, Bestow’s monthly premiums cost more than average. It is due to the fact that customers do not have to go through a medical exam. Yes, your application is reviewed in a matter of minutes, but monthly quotes are pricier than medically underwritten policies, and the coverage amount is significantly lower.

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The coverage amount vs. monthly premiums, presented by for a 20-year term life insurance:

Gender/Age Policy Amount 20-Year Term Life

Female/35 $500,000 $22.50/month

$1 Million $41.66/month

Male/35 $500,000 $27.50/month

$1 Million $51.66/month

Female/45 $500,000 $46.66/month

$1 Million $90.00/month

Male/45 $500,000 $60.41/month

$1 Million $117.50/month

All people are in good health, non-tobacco users, and living in Florida. As you may notice, pricing is the better, the younger policyholder is. Monthly premiums for a 30-year old person can start even from as low as 8,5$.

Monthly Term Life Insurance Quotes (Age 30 – Male)

Coverage 10 Year 15 Year 20 Year 30 Year

100,000 $9.58 N/A $10.25 N/A

$250,000 $13.33 N/A $15.62 N/A

$500,000 $23.33 N/A $26.25 N/A

$1,000,000 $43.33 N/A $49.16 N/A

Monthly Term Life Insurance Quotes (Age 30 – Female)

Coverage 10 Year 15 Year 20 Year 30 Year

$100,000 $8.42 N/A $8.83 N/A

$250,000 $10.83 N/A $12.71 N/A

$500,000 $15.83 N/A $19.58 N/A

$1,000,000 $28.33 N/A $35.83 N/A

Data provided by

For more specified coverage amounts, monthly rates, life insurance quotes got to Bestow’s website: quote or call their insurance agent and get quotes for free.

Coverage guidelines and exemptions from coverage

In order to qualify for Bestow Life Insurance, some requirements and guidelines need to be met:

  • You have to live in the States and have citizenship.
  • You must be a student, work 30+ hours a week, or a stay-at-home person (both student and homemaker can earn side money without the risk of being disapproved).
  • No major health issues, generally in good health.
  • Age limits for particular term lengths (18 to 60 maximum)

However, Bestow lists numerous cases where our medical history or current health status is a direct reason for rejecting our application. The following causes are:

  • Certain cancers
  • Heart diseases
  • Alcohol abuse
  • Drug abuse
  • HIV
  • Stroke
  • Organ transplant
  • Diabetes before 40 (except gestational diabetes)
  • Kidney disease resulting in dialysis

Bestows’ algorithm will also not approve you if you lead a risky lifestyle. Some types of jobs, hobbies, and criminal history may make you ineligible during the underwriting process. The examples of risk factors prohibiting you from Bestow Life Insurance can be determined by an online algorithm and an insurance agent. According to Bestow, those issues are:

  • ‘If you have a history of driving under the influence, that’s high-risk behavior. (Don’t drink and drive. Period.) You’ll likely be ineligible for a policy with many insurance companies.
  • If you have recent criminal activity on your record, that might also make it harder for you to get approved for a life insurance policy.’
  • If you are performing high-risk hobbies such as deep diving, racing cars, outdoor rock climbing, etc.
  • If you endanger your life in your job, for example, logging or installing power lines.

There are also some cases when Bestow Life Insurance will not pay your loved ones your death benefit. Generally, if your death is caused naturally, there should be no issue. However, when it happens within two years from buying the policy, Bestow reserves its right to investigate your death. In the event of suicide, the policyholder’s family will not be paid a claim as well.

Terms of cancellation

You can cancel your term life insurance with no consequences within 30 days. If you decide that Bestow Life Insurance is not for you, you will get a full refund. However, after this trial period, if you want to cancel your insurance, you will not receive any refund (but at least there are no cancellation fees).

Pros and cons of Bestow Life Insurance

The advantages:

No medical exam

Bestow ensured their clients’ hassle-less application process. There is no medical exam required, so your online questionnaire is reviewed within minutes. You do not have to wait for a decision for days, as it is in the case of standard applications. That is a significant pro for people in a rush to get life insurance.

Everything’s online

Not only does the online process automates and speeds up the procedure, but also it is available whenever and wherever you need to. You can access the website 24/7 and fill out the documents, then the algorithm checks your answers and suggests appropriate policy options. But if you need to contact a human insurance agent, you have the opportunity to call to chat with one.

No commission for agents

Staying on the subject of representatives, they are not being paid for you choosing them. They earn their salary the traditional way, so you do not have to worry about them having bad intentions. They will always offer you the best-adjusted policy options.

Fast application process

The algorithm takes care of you during the application process and guides you every step of the way. Both acceptance response and the entire procedure will only take up to 10 minutes. Perfect solution when you have no time for a complicated approach


Some of Bestow’s Life Insurance rates start from around 10$/month. Pricing, however, changes in addition to gender, height, weight, and other essential factors. Still, the prices are a little above average, but they are very affordable for a young, healthy person.

The disadvantages:

No policy options

Bestow offers neither whole nor universal life insurance. You can only apply for a term life insurance policy up to 30 years. After that period, your policy expires, and you do not get coverage in the event of death.

Limited coverage amount

While other life insurance companies offer coverage amounts even up to 3 Million dollars, Bestow ensures payout only from 50,000 to1,5 Million dollars. It is a much lower insurance coverage amount than average.

No Paid-up Additions Rider available

You can not buy extra features for your term life insurance policy. That’s a significant drawback if you want to secure yourself from different risky situations financially.

No permanent policy

One of the major issues with Bestow Life Insurance is that you cannot switch your term life insurance into a permanent one. If you find yourself in a complex and severe health situation, you may have to deal with it with no life insurance policy at all.

Even though they do not offer a lot and have stringent and limited coverage guidelines, Bestow does not generally get many complaints. It is described as a safe, easy, and fast way of getting life insurance. However, we want to get you familiar with The Concept of Infinite Banking.

Alternative to Bestow Life Insurance – The Infinite Banking Concept

Term life insurance is a time-limited policy. It does not build any cash value, and you cannot use it as your own private bank. After outliving their agreed term length, all the money is gone and cannot be cashed out. That’s a severe drawback. If you want to capitalize on your insurance policy – let us introduce you to the Infinite Banking Concept.

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Infinite Banking allows you to imitate how a traditional bank operates and borrows money, but without the need to depend on a third party. You will be both a creditor and a lender.

Instead of borrowing from a bank, you borrow money against yourself, and singlehandedly dictate cash flow while still allowing your whole life insurance policy to earn dividends (money) even though you are using that money elsewhere. In other words, you build wealth while borrowing and repaying the money held in the cash value of your permanent life insurance policy.

One of the most significant advantages of the whole life insurance policy is that you will never have to deal with banking fees or interest rates on loans. As a policyholder, you can borrow money using your own policy’s cash value. Using this borrowing setup, you would never have to borrow money from a bank again and instead would borrow for yourself (your whole life insurance policy) and pay yourself back over time. Thus, being your own bank.

The goal of Infinite Banking is to duplicate the process as much as possible to build the value of your own bank. The duplication process happens by lending and repayment of money typically held in the cash value of a permanent life insurance policy.

Infinite Banking allows you to better work towards your individual and unique financial goals for yourself and your family and have control over your finances without dealing with banking fees or interest rates on loans.

Infinite Banking involves:

  1. Overfunding (with after-tax funds) a high cash value whole life insurance policy from a life insurance company
  2. Accumulation of Cash Value(tax-free) throughout the years you are a policyholder of your Whole Life insurance policy.
  3. Tax-Free Loans taken out against your whole life insurance policy’s cash value to use for your financial expenses.

By the process of borrowing for yourself, repaying, and so on – simply by being your own bank, you earn the financial freedom and control of your money.

Implementing this banking strategy into your life gives you much better control over your finances and helps you build wealth using the life insurance policy.

Is Bestow life insurance for you?

Well, if you are a young person in excellent health and want a quick solution for lack of life insurance, then yes. Bestow Term Life Insurance offers multiple term lengths options with affordable monthly premiums.

The coverage amount is, in fact, low, but if you do not have money for high insurance rates, that is a good option. Online application process and no medical exam guarantees fast approval and minimal hassle.