Bestow Life Insurance company was founded in 2016 and its headquarters are located at Dallas. Bestow is the first of the life insurance agencies to take a digital initiative to offer all policies online. Bestow has this unique selling point that it realized that it was possible to reach most of the US population from their website.
Bestow Insurance operates in 49 US states with the exception of New York. Bestow acquired Iowa-based Centurion Life Insurance Co. during 2021 and expanded all across the United States. Bestow manages its life insurance policies issued by North American Co.
- Which type of life insurance does Bestow sell?
- What are the star features of Bestow term life insurance policy?
- What are the let downs of Bestow Term Life policies?
- So what do you do if your Bestow term life expires?
- Do you have access to Accelerated Death Benefit Rider?
- How are the no-exam term life policies of Bestow?
- How much does Bestow Term Life costs?
Which type of life insurance does Bestow sell?
Bestow keeps it really simple by offering only one type of life insurance to its valued clients: Term Life policies for life and health insurance of the people. It is sort of a term life specialist, and created a niche. It offers some selling features in the term life, while it lacks in some of the major areas that the competitors are offering.
What are the star features of Bestow term life insurance policy?
- The best features include the fact that they offer term life for 5, 10, 15, 20, 25 to 30 years.
- The striking factor is that they offer eligibility to seniors till the age of 60 years; to buy a new term life insurance policy for themselves.
- Another high score benefit is Bestow offers coverage from $50,000 to a whopping $1.5millions for people ranging to the age of 60 years.
- To top it all; they accept life insurance applications from their online platform, their website. The exam based and no-exam term life insurance policies get quickly approved compared to the rest of the competitors.
- All their term life products are available online with the rates and anyone can apply. However, younger and healthy people have the prospects of quick approval.
- Moreover, the company has good customer reviews and ratings that make it worth trusting.
What are the let downs of Bestow Term Life policies?
The biggest and worst drawback is that the Bestow term life does not give you the option of renewal or conversion after expiry. Almost all other competitors offer renewable, annual renewable term life, and conversion into a permanent life insurance policy. However, Bestow Life Insurance does not give this option.
So what do you do if your Bestow term life expires?
What you need to do is to keep track of your term life insurance policy with Bestow. During the last 2 months from expiry date; you call the life insurance firm and use your free look period.
Bestow Insurance offers incredible and all types of term life policies and if the policyholder dies within the term, they have a good track record of paying the huge death benefit payouts to US citizens all across the country.
Individually, you being the policyholder need to be conscious of the expiry date of your policy. Two months prior to its expiry date, call them up and use your 30 days’ free look period. Cancel the policy within the free look period and Bestow will fully refund all your premiums paid till date. But you cannot count on Bestow Term Life to cover you till your last breath, for sure.
Do you have access to Accelerated Death Benefit Rider?
For Bestow, unfortunately no you do not! In case you become terminally ill and get diagnosed with a fatal condition. Your life expectancy becomes less than 12 months, you would not be able to withdraw money for medical expenses and hospice care while you’re alive. The reason is that Bestow does not offer the Accelerated Death Benefit rider. This is a setback too.
How are the no-exam term life policies of Bestow?
Although the coverage and other features offered are classic, the turn off is the pricey rates for all No-Exam term life insurance policies of Bestow Life Insurance.
How much does the Bestow Term Life Insurance Plan cost?
This is the most important question; the average annual premium payment for a 40-year-old woman is $524 for a 20 years’ term life of $500,000 coverage. Similarly, a 40-year-old woman is liable to pay annual premiums of $974 for a 20 years’ term life policy of $1 million coverage.
Last but not the least, Bestow Life Insurance partnered with the Empathy services in 2022. Ever since, Bestow Life Insurance has been offering the “Counseling after death of loved ones services” through emotional and support groups to its policyholders; in 20 states of the US, plus a total 9 of your friends or family members.
With this partnership with Empathy, Bestow facilitates the post-death affectees to conduct the funeral ceremonies and join emotional support groups to deal with their loved ones death grievances. If you want to choose any term life policy from Bestow to apply for, get your quotes today from Insure Guardian!