Insurance 101
Life insurance, simplified.

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Life Insurance Basics

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Are there any differences between Bestow and other online life insurance agencies?
We sure think so. Bestow’s application process is entirely online. Seriously, 100%. Many companies offer an indicative quote online but then refer applicants to an agent or doctor in order to finish the application process. Other online life insurance companies may still require a medical exam for certain coverage amounts or applicants. With Bestow, every applicant gets a decision in minutes.
Does Bestow require a long-term commitment? What if I can’t afford my premium one month?
Each policy has a 30-day free look period. This means that you are eligible for a full refund if you cancel within the first 30 days after purchasing. If you ever can’t afford to make a premium payment, your coverage will continue through a “grace period” (60 days) from the date of your last payment. As long as your premium is paid during the grace period, coverage remains uninterrupted. Any missed premiums throughout the term are deducted from the death benefit in the event of a claim.
How can I get a quote?
To start a quote, simply click here. We've created a simple, online quote tool where you can get started. Enter your gender, birthdate, height, weight, and state of residence, to receive an estimate. If you like what you see, you can continue to apply.
How do I know if I’m a good fit and should apply through Bestow?
If you are between 21 and 55 years old, have never had a felony, and are generally in good health, then we encourage you to apply!
How does Bestow make money?
Bestow generates revenue through its agency commissions and administrative fees. This income allows us to work with our partners to develop innovative products, add more products and features to the website, and ensure that customers have the best experience possible with the highest quality support.
What ages are eligible for insurance through Bestow?
Anyone between the ages of 21 and 55 may apply for coverage.
What is the application process like with Bestow?
Bestow’s 100% online application process has four simple parts:
  1. Your basic identifying information: email, address, and Social Security Number.
  2. Your life. This includes citizenship, medical history, lifestyle, and hobbies.
  3. Beneficiaries. This is whoever would receive the death benefit in the event of the insured’s death.
  4. Policy and payment details. If approved, choose the coverage amount and term length, then enter credit card info to purchase and bind the policy.
Who will pay my claim?
Bestow is an independent agent and third-party administrator which handles underwriting, application processing, sales, and customer support. Our partner, North American Company for Life and Health Insurance® provides and issues the policy and will process and pay the claim if everything verifies. Click here for more information on our partners.
Will my policy auto-renew?
Nope. When it’s done, it’s done. You’re invited and encouraged to apply for a new policy before yours expires to ensure uninterrupted coverage.
Does Bestow offer anything longer than 10 or 20 year policies?
At this time we only offer 10 year and 20 year term policies. The 20 year term is available for those under 45 years old. We are working to add longer term options soon so stay tuned!
How are rates customized?
Applicants answer questions about their lifestyle and health through our simple online form. Bestow’s in-house underwriting platform instantly processes that data through our encrypted channels in a method called accelerated underwriting. This intelligent framework enables us to fully assess the risk of each applicant individually, without a medical exam, to get an underwriting decision instantly. Approved applicants get real rates, not quotes, at an affordable monthly price.
How do I know Bestow will be around in 5+ years? What will happen to my policy?
Policies purchased through Bestow are issued by North American Company for Life and Health Insurance® — an A+ rated insurer. Bestow just makes the application experience simple and convenient.
How does Bestow avoid requiring a medical exam?
Through questions about lifestyle and health, identity verification, and pulling available data about the individual applying such as prescription and credit history, driving records, and prior attempts at insurance, Bestow can underwrite policies as effectively as with a medical exam.
How is Bestow different than other insurance companies?
We think about this as the 5 Ps: Product, Platform, Partners, Purpose and People.
  • Product: We completely re-engineered the buying experience for term life insurance to be super simple and more affordable. Apply and get an instant decision in less than 5 minutes.
  • Platform: Unlike other online life insurance providers, we underwrite the policies we offer in-house with our own technology — accelerated underwriting. Our data and technology allows us to help our customers with just about any request.
  • Partners: We’re an online life insurance agency backed by two of the largest industry giants rated A+, so your coverage is financially sound.
  • Purpose: We believe that great life insurance should be affordable, convenient, and smart, and every bit as straightforward as buying any other gift for your family.
  • People: We’re a band of finance experts, tech specialists, and licensed agents united in a common belief that when life insurance is done right, the beneficiary is everyone.
What exactly does Bestow offer?
Life insurance in 10 or 20 year terms, with coverage amount from $50K to $1 Million.
Who are Bestow’s partners?
Bestow’s customers are covered by two of the most trusted names in the industry, all of which are rated A+(Superior) by A.M. Best.
About North American Company for Life and Health Insurance®
North American is a member of Sammons® Financial Group, Inc. since 1886, and has established a tradition of providing quality insurance products to consumers throughout the U.S. and offers a comprehensive portfolio of term, universal life and indexed universal life insurance products.
About Sammons Financial Group
Sammons® Financial Group is comprised of North American Company for Life and Health Insurance®, Midland National® Life Insurance Company, Sammons Retirement Solutions® Inc., and Sammons Financial Network® LLC, member FINRA.
About Munich Re Group
Munich Re, U.S. (Life), founded in 1959, is one of the largest reinsurers in the U.S. offering life and disability reinsurance to insurance companies throughout the United States. The company also writes group, credit, and other reinsurance products. Headquartered in Atlanta, with offices in Chicago and New York, the company is licensed, accredited or authorized in all fifty states, Washington, D.C., Guam, and Puerto Rico.
A+ (Superior), the second highest rating out of 15 categories, was affirmed by A.M. Best for North American as part of Sammons Financial Group on August 7, 2019. A.M. Best is a large third-party independent reporting and rating company that rates an insurance company on the basis of the company’s financial strength, operating performance and ability to meet its ongoing obligations to policyholders.
Why only term?
Term life insurance is the simplest and most affordable type of life insurance protection. It’s meant to protect your dependents should you pass away unexpectedly within the term period. Because it does not build a cash value or fund investments, it is often the least expensive type of life insurance. Term life insurance is also the product of choice by many financial experts, including Dave Ramsey, Suze Orman, and Clark Howard. (Read more on why right here.)

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