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Editor’s Note: The information presented here is accurate as of July 2022.

Do you need term life insurance to meet your coverage needs? You could have a policy of $1,000,000 in as little as 5 minutes when you apply through Bestow for coverage.

Because life insurance acts as an essential part of a sound financial plan, having a policy in place can help you protect your loved ones from the financial risk that might arise with your passing.

Fortunately, the death benefits provided by life insurance can cover any needs, including final expenses like burial or cremation, paying off a mortgage or student loans or any other types of debt which need to be managed.

Depending on the beneficiaries’ needs, some choose to use life insurance to replace the deceased’s income in order to maintain the same lifestyle without financial hardship.

Bestow, currently headquartered in Dallas, Texas, chooses to take a more modern approach to life insurance coverage.  The company acts as an agent for life insurance through a simple online application and then employing a rapid approval process guided by data analytics.

The modernity does not stop there. It also does all of this without taking a medical exam, allowing for a completely remote application, approval and coverage process.

This Bestow review details the term life insurance coverage offered by the issuing company (North American), as well as the cost and process for getting coverage.  Bestow represents our top pick among the best life insurance companies/agencies offering coverage online.

Products offeredTerm life insurance.
Term options10, 15, 20, 25, 30-year
Age availability18 - 60
Medical exam required?No.
Can be denied for coverage?Yes.
Available inAll states except NY.


Bestow Overview

Bestow commits to employing technology to provide competitive life insurance quotes to its customers.  It does so by relying on data and not needing medical examinations (as many life insurance insurers require) in a bid to streamline life insurance approval and underwriting.

Bestow started in 2016 when co-founders Jonathan Abelmann and Melbourne O’Banion launched the company in a bid to help address the issue of financial preparedness for families, but without the complex processes often imposed by traditional life insurance companies.

To accomplish this feat, Bestow offers to quote life insurance without a medical exam or a complicated underwriting process.

On the other hand, for those with more long-term certainty, if you know how much insurance you will need and wish to lock in a low price now, you can choose between 10 to 30 years term life insurance.

Not only does Bestow offer unique product flexibility, Bestow also offers an exceptional opportunity to enjoy a convenience-friendly (i.e., from your smartphone) term life insurance without having to take a medical examination.

Bestow’s Financial Picture

Bestow has received notoriety for its streamlined online application that can be completed — and in many cases, approved — within minutes.

Financial strength lends itself to the company’s association with North American Company for Life and Health Insurance®, one of the leading U.S. companies for issuing life insurance and annuities.

Further, because of this relationship and sound money management skills, they have received an “A+ (Excellent)” rating by A.M. Best, Fitch, and Standard & Poor’s, indicating sound financial health.

As a reminder, financial strength should serve as an important determinant when choosing an insurer because it indicates how well an insurer can manage to pay claims made by policyholders.

Because these life insurance claims might not occur until decades in the future, this rating serves as an absolute differentiator if all else appears equal for term life insurance policies.8784

How Much Does Life Insurance By Bestow Cost?

The cost of life insurance depends on various factors.  Bestow screens applicants on their age, smoking status (i.e., smoker vs. non-smoker) state of residence, and other details about their medical history and demographic profile.

An additional element to consider on determining the premium amount comes from the total amount of coverage you want.  Understandably, higher coverage amounts usually cost more even for the healthiest applicants, all things being equal.

Because Bestow does not require a medical exam for receiving term life insurance coverage, the company relies on algorithms to determine an applicant’s risk profile before providing an offer for monthly premium payments.

Consider the following three examples (data gathered 5/4/2020):

  1. Healthy 27-year old female who does not smoke would pay just over $8 ($8.17) per month for a 10-year plan with $100,000 in coverage.
  2. Healthy 32-year old male with $250,000 in 10-year term coverage would stand to pay about $16 ($16.04) per month.
  3. Healthy 37-year old male who does not smoke and requests a $1,000,000, 20-year policy, faces a monthly cost of $59.16.

bestow sign up

How Bestow Works

People can apply for life insurance entirely online by answering some simple lifestyle and health questions about themselves. Bestow combines the answers provided in your initial application with big data functionality to assess applicant risk and coverage options instantly.

If approved by Bestow’s underwriting process, term life insurance customers can check out with their policy in less than 5 minutes from start to finish.  That’s a hard time to beat.

Bestow’s digital application enables an entirely online experience, completely different from traditional industry offerings, which usually require paper forms, and meeting with an agent and taking a medical exam. The process can take days or even weeks.

Other online life insurance companies may offer an indicative quote online, but then refer applicants to enter a more traditional underwriting application process. Bestow has modernized the process to occur entirely online, for every policy. Period.

Why Bestow?

Bestow serves as an excellent option for individuals aged 18-60 looking for 10, 15, 20, 25 or 30-year term life insurance.

In other words, primarily Gen-Zers, Millennials and Gen-Xers looking to provide coverage for dependents easily and quickly.

Finally, Bestow shows quality reviews and rating on the Better Business Bureau and strong customer satisfaction ratings. Despite the relative youth of the company, many have awarded the startup company numerous notable accolades.

Below comprises the major need-to-know facts about Bestow:

  • 100% online application and policy origination process
  • No medical exams
  • Only sells term life insurance policies (see age and product offering restrictions above)
  • Coverage from $50,000 to $1,500,000
  • Geared toward Gen-Z, Millennials and Gen-X
  • Quotes in seconds, coverage in minutes

NOTE: As mentioned above, Bestow only quotes policies for people aged between 18 to 60 for a 10, 15, 20, 25 and 30-year term.


Disclosure: The opinions and ideas expressed in the article are those of the author(s) and are not promoted or endorsed by Bestow or North American. You should always consider seeking professional advice before making a major financial decision.

How Bestow Compares

See how Bestow compares against the other online life insurance agencies in the market.  Have a look at each review by clicking on the relevant links below to learn which might lead to your best policy.

Best Online Life Insurance Agencies - 2020

BestowHaven LifeFabricEthos
bestow life insurancehaven life insurance logo 1fabric life insurance
ethos life insurance
Products offered?Term life insurance only.Term life insurance only.Term life insurance and accidental death.Term life insurance.
Term options10 and 20 years.10, 15, 20 and 30 years.10, 15 and 20 years.10, 15, 20 and 30 years.
Age AvailabilityFor 20-year policies, 21 to 45 (21 to 43 for male tobacco users); for 10-year policies, 21 to 54.18 to 64.18 to 60.18 to 75.
Coverage amount availableUp to $1,000,000 for 10- and 20-year terms.$100,000 up to $3,000,000.$100,000 up to $5,000,000.$100,000 up to $1,500,000.
Medical exam required?No.Depends. A medical exam may not be needed for eligible applicants applying for up to $1,000,000 in coverage. Once an application is submitted, you will find out if a medical exam is needed to finalize your rate. Depends. May be required if more health information is needed. Better rates possible with medical exam.Depends. May be required on policies over $1,000,000 or if more health information is needed.
Can be declined for coverage?Yes.Yes.Yes.Yes.
Available inAll states except NY.All states except CA, DE, FL, ND, NY, and SD.All states except MT, CA*, and NY*.All states except NY.
*Must purchase Fabric Instant (accidental death) first, then can purchase Fabric Premium.
Prices, products offered and coverage terms effective as of publication.

Related: 8 Best Ways to Invest a Lump Sum Life Insurance Payout

Life insurance quotes provided by Bestow Agency, LLC dba Bestow Insurance Services in CA, who is the licensed agent. Term Life Insurance Policies offered by Bestow are issued on policy form LS181 and LS182, or state version including all applicable endorsements and riders, by North American Company for Life and Health Insurance®, Administrative Office, One Sammons Plaza, Sioux Falls, SD 57193.
Products or issue ages may not be available in all jurisdictions. Limitations or restrictions may apply. Not available in New York. North American is rated A+ (Superior) by A.M. Best. A+ (Superior), the second highest rating out of 15 categories, was affirmed by A.M. Best for North American Company for Life and Health Insurance as part of Sammons Financial Group on August 19, 2020.
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. Bestow’s application asks about your lifestyle and health to avoid requiring a medical exam.
About the Author

Riley Adams is the Founder and CEO of WealthUp (previously Young and the Invested). He is a licensed CPA who worked at Google as a Senior Financial Analyst overseeing advertising incentive programs for the company’s largest advertising partners and agencies. Previously, he worked as a utility regulatory strategy analyst at Entergy Corporation for six years in New Orleans.

His work has appeared in major publications like Kiplinger, MarketWatch, MSN, TurboTax, Nasdaq, Yahoo! Finance, The Globe and Mail, and CNBC’s Acorns. Riley currently holds areas of expertise in investing, taxes, real estate, cryptocurrencies and personal finance where he has been cited as an authoritative source in outlets like CNBC, Time, NBC News, APM’s Marketplace, HuffPost, Business Insider, Slate, NerdWallet, Investopedia, The Balance and Fast Company.

Riley holds a Masters of Science in Applied Economics and Demography from Pennsylvania State University and a Bachelor of Arts in Economics and Bachelor of Science in Business Administration and Finance from Centenary College of Louisiana.