Bestow is an insurtech firm that began operations in 2017 and specializes in the online sale of term life insurance. You will not be required to have a medical exam to apply; instead, you will be asked questions about your health and lifestyle. After that, Bestow consults its database and employs a series of algorithms to assess whether or not you are eligible for coverage. Should you choose to do so, the North American Company for Life and Health Insurance will be the insurer that underwrites your insurance. Bestow has its headquarters in Dallas and operates in all states except New York.
Bestow Life Insurance Policies
Term Life Insurance
Depending on your age, you can select a policy that will continue for 10, 15, 20, 25 or 30 years, with protection ranging from $50,000 to $1.5 million. However, plans with a face value of more than $1 million are only accessible to those aged 21 to 45.
The firm provides instant life insurance, which enables qualified applicants to get insured immediately without needing to undergo a medical examination. However, you cannot personalize your coverage by adding life insurance riders. In 2023, we ranked Bestow as one of the firms that offered the best quick life insurance and the best life insurance with no medical exam.
Complaint Index
According to NAIC, Bestow has an exceptionally low number of customer complaints for a firm of its size. Complaints often include some combination of the following: claim delays, policy cancellations, unjust claim settlements, and misrepresentation.
A complaint index indicates how many complaints a firm got in relation to its size, and the NAIC determines this index. If the NAIC Complaint Index is 1.00, the firm got the typical complaints given its market share. If the number is less than 1, there were fewer complaints received than was anticipated. The three-year average complaint index for Bestow is very close to zero, indicating that it has fewer complaints than would be anticipated. The vast majority of the leading life insurance providers that we analyzed had complaint indices that were lower than 1.00.
Third-Party Ratings
AM Best has awarded the North American Company for Life and Health Insurance an A+ (Superior) grade for financial soundness. This company is the insurer that underwrites the life insurance plans offered by Bestow. AM Best is a credit rating service that evaluates businesses and gives them letter grades based on their balance sheets, financial performance, debt, and other indicators of their level of financial security.
AM Best gives an A+ as its second-highest attainable rating; an A++ is the best. Because of their exceptional financial strength, policyholders may rest certain that North American Company for Life and Health Insurance (and, by extension, Bestow) will be able to fulfil their contractual duties and honour their claim commitments.
Available Riders
To our concern, Bestow does not currently provide any life insurance riders that would allow you to tailor your coverage in any way. The waiver of premium rider, the guaranteed insurability rider, and the expedited death benefit rider are three of the most frequent types of riders that may be added to a life insurance policy. Other typical types of riders include chronic disease and terminal illness riders.
Assistance to Customers
You have a few different alternatives to choose from if you need to get in contact with Bestow. You may reach the business via telephone at the number (833) 300-0603 or by email at [email protected]. However, using the live chat option is the fastest method to receive assistance from the customer service team. If you go to the website and select the "live chat" button, you will be connected to a real-time customer service agent immediately.
More about Bestow
The website of Bestow is well-organized and simple to use. You may acquire an initial quotation by providing your birth date, height, weight, self-identifying gender and ZIP code, then apply for a policy afterwards.
You may get in touch with the company by live chat, email, or even the phone if you have any inquiries about your coverage. On the website of Bestow, you may begin filing a claim if you are a beneficiary. After that, the North American Company for Life and Health Insurance will send you a claims package to review and complete.
Beneficiaries should also be aware that Bestow provides free access to the services Empathy provides in twenty states. You will be walked through several end-of-life administrative responsibilities on the site, such as making a claim for life insurance, organizing a funeral, and writing an obituary.
