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Bestow life insurance review 2023

Updated Mar 09, 2023

At a glance

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Bottom Line

Policyholders looking for a quick decision on a term life insurance policy and who prioritize digital tools might find Bestow fit for their needs.

  • Fully online process means a coverage decision can be provided in minutes

  • No medical exam required for coverage

  • Bestow is not rated by J.D. Power

  • Only term life insurance is offered, and no riders are available for policy personalization

Bestow life insurance

Bankrate’s insurance editorial team took a deep dive into various life insurance companies and based on our assessment, Bestow could be one of the best life insurance companies for those looking for AI-powered life insurance application experience and a quick underwriting decision for term life insurance.

Bestow is a Dallas-based life insurance company specializing in offering term life insurance online. The website is mobile-enhanced, making it easy to quote coverage options and purchase life insurance from your phone. Using data and algorithms, Bestow offers quick approval for qualified applicants without the need for a medical exam. All policies offered by Bestow are issued by either Bestow Life Insurance Company or North American Company for Life and Health Insurance.

Bestow presents a new way to apply for life insurance. Traditionally, life insurance companies require an online or in-person application and a medical exam followed by a few weeks of waiting for confirmation. Bestow’s 100 percent online process doesn’t require a medical exam and usually determines eligibility in about five minutes, employing an algorithm instead of a human underwriter to assess eligibility and accelerate the underwriting process.

Its online application collects personal data such as your Social Security number and contact information, which it uses to access publicly available data about the applicant. The company also collects health data, such as prescription drug use through sources like MIB Group, a not-for-profit corporation that provides underwriting services in the United States and Canada. Applicants also provide information about citizenship, lifestyle, medical history and hobbies.

If the system approves the application, the applicant can then review coverage options, death benefits and monthly premiums before proceeding with purchasing a policy with a credit card. Coverage begins almost instantly for approved applicants. Reasons that applicants might be denied coverage include prior medical history, such as having been diagnosed with cancer in the last 10 years. Smokers may be accepted, but could also be subject to higher monthly premiums.

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This advertising widget is powered by, a licensed insurance producer (NPN: 8781838) and a corporate affiliate of Bankrate. LLC services are only available in states where it is licensed and insurance coverage through may not be available in all states. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

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Bestow life insurance coverage types

Currently, Bestow only offers term life insurance. Term life insurance is only active for a certain amount of time (otherwise known as the term) and could be best for people who want extra financial protection during specific parts of their lives, such as when their children are young or while they pay off debt.

Bestow’s life insurance policies are simple — people from 18 to 60 years old can apply for a term of 10, 15, 20, or 30 years, and death benefit options are limited from $50,000 up to $1.5 million. Depending on how much life insurance you need, Bestow might have an option for you.

Bestow life insurance endorsements

Bestow does not offer any life insurance endorsements (otherwise known as riders) at this time.

Bestow life tools and benefits

Bestow’s website features a learning center, where policyholders can read about life insurance basics and general financial planning. Life insurance is a complex product, so these informational articles may come in handy, especially for those new to the product.

Bestow life customer satisfaction

Bestow life insurance is not rated by J.D. Power, and the company does not show any data in the National Association of Insurance Commissioners (NAIC) Complaint Index Report. However, because some of Bestow’s life insurance policies are underwritten by the North American Company for Life and Health Insurance, looking into Bestow’s underwriting company’s reviews could be informative.

Like Bestow, the North American Company for Life and Health Insurance is not rated by J.D. Power. However, it does have a lower-than-baseline number of customer complaints for individual life on the NAIC Complaint Index Report, with an index score of 0.68. This data shows that, on average, the company receives fewer customer complaints with the NAIC compared to other companies of its size.

Additionally, North American Company for Life and Health has a financial strength rating of A+ (Superior) issued by AM Best. This rating indicates that, historically, the company had the means to pay out claims when necessary. Although this may not be a direct representation of ongoing customer satisfaction, choosing a company that has a historical pattern of financial strength could give you peace of mind.

How to file a claim with Bestow

Filing a life insurance claim with Bestow is straightforward. You will need to provide basic information, such as the policyholder's name and date of birth, along with the date and cause of death. Once you have this information available, you can file a claim with Bestow by:

Once the process is started, Bestow will send you a packet with instructions for next steps. If you have any questions, you may want to call the number above for further assistance.

Bestow availability

Bestow life insurance is available in all states except for New York.

Other Bestow perks worth considering

Although Bestow does not sell any other products other than term life insurance, it does offer some perks that may help it stand apart from other term life companies, including:

  • Bereavement support: Your beneficiary could receive 24/7 grief support through Empathy. This benefit is also available for up to nine more of your loved ones.
  • Referral program: You could earn by referring friends and family to Bestow. Since the company states that they will give you a “small token of gratitude,” you will need to reach out to a Bestow representative for specifics.

Bestow corporate sustainability

In 2020, Bestow announced the creation of the Bestow Foundation, a nonprofit organization aimed to help families who have lost an income earner after a disaster. Prior to the launch, the company fundraised $50 million to kickstart its philanthropic efforts. So far, the company has donated to the CDC Foundation to help combat COVID-19, but no further information is available at this time.

This Bestow life insurance review is comprehensive, but you may still have questions on if this company is for you. In that case, you may also want to request life insurance quotes from some of the carriers below:

Bestow vs. Ethos

Ethos is another tech-enabled option for life insurance that offers an online application and no-medical exam life insurance. In addition to term life, Ethos offers whole life insurance, which may make it attractive for those looking for different types of life insurance policies.

Learn more: Ethos Insurance review

Bestow vs. State Farm

In addition to car and homeowners insurance, State Farm offers a wide array of life insurance and financial investment products for every need. The company also earned a 2023 Bankrate Award for Best Term Life Insurance.

Learn more: State Farm Insurance review

Bestow vs. Mutual of Omaha

Mutual of Omaha is a highly-rated life insurance company that, among other products, offers whole life insurance for people over 50 years old. Universal life insurance is also available. If you’re additional coverage types, Mutual of Omaha also has accidental death insurance available.

Learn more: Mutual of Omaha Insurance review

Is Bestow a good insurance company?

Bankrate’s insurance editorial team includes four licensed agents with over a decade of industry expertise. We understand that life insurance can be intimidating, but we’re here to make it easy by giving you the information you need to find the company and policy that makes the most sense for your financial protection goals.

With that in mind, Bestow could be the life insurance company for you, but it depends on how much life insurance you need and what type of policy you’re looking for. If you’re a tech-savvy shopper in the market for a no-frills term life insurance policy without a medical exam, then Bestow could be a solid choice. However, if you need permanent or guaranteed issue life insurance, you’ll have to weigh other options as these policies are unavailable with this company. Ultimately, the easiest way to proceed with determining if Bestow is a good company may be to request a quote online.

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Written by
Carol Pope
Former Writer, Insurance

Carol Pope is a former insurance writer for Bankrate and prior to joining the team, she spent 12 years as an auto insurance agent. During this time, she sold, serviced and underwrote auto insurance for people across the country. She also has experience selling supplement coverage such as umbrella insurance.

Edited by Editor, Insurance