WHAT YOU NEED TO KNOW ABOUT BESTOW INSURANCE COMPANY


THIS ARTICLE IS A CONTINUATION OF TOP BEST LIFE, AUTO, HOME AND HEALTH INSURANCE COMPANIES IN UNITED STATES


Bestow keeps things straightforward by only offering term life insurance. To purchase a term life insurance policy on its online platform, you can avoid taking a life insurance medical exam and just respond to a few health-related questions. Bestow guarantees that you'll hear back on your application quickly.


Bestow has the right to reject your request for term life insurance if you have a medical problem or are in bad health.


Life Insurance Options by Bestow


Provision of term life insurance


Level premiums are offered by term life insurance for a predetermined time frame, such as ten years. When your level term time with another company expires, you can frequently renew the insurance each year at a higher price. Bestow does not, however, promise renewability.

Additionally, a lot of term life insurance contracts give the option to upgrade to permanent life insurance. This choice is not present in Bestow policies.


For 10, 15, 20, 25 or 30 years, Bestow offers basic term life insurance with coverage limits ranging from $50,000 to $1.5 million.


Anyone between the ages of 18 and 60 who has never had a felony conviction may qualify for coverage. New York State does not have access to Bestow's coverage.


For its term life insurance products, the business gives a 30-day money-back guarantee.


 Pros

  • 90% of consumers receive instant approval.
  • High eligibility age (60) for the $1.5 million maximum coverage amount
  • Owners of the policy may use it as security for a small business loan.

Cons

  • Nothing to accelerate death benefits
  • There is no change to permanent life insurance.
  • No promises of renewals




  
HISTORY OF BESTOW COMPANY 


Bestow was established in 2016 and introduced its fully digital life insurance platform the following year. From the start, Bestow was dedicated to proving that life insurance firms lacked the technological innovation required to provide the best customer experience.

North American Co. for Life and Health Insurance issues its policies, which are managed by Bestow.

The Iowa-based Centurion Life Insurance Co., which is authorized to conduct business in 47 states and the District of Columbia, was purchased by Bestow in 2021.

Bestow presently operates in 49 states. Residents of New York are not eligible for life insurance plans.

Empathy, a platform created to help people who are grieving the loss of a loved one, and Bestow collaborated in July 2022.

The services of Empathy are available to Bestow policyholders' beneficiaries as well as up to nine friends and family members. Features include help with benefit claims, estate preparation, and probate and probate-related issues. Members of empathy have access to resources for grieving and emotional assistance. An software for smartphones makes Empathy accessible in 20 states.


REAL FACTS ABOUT BESTOW INSURANCE COMPANY 


  • Established in 2016
  • Headquarters are in Dallas.
  • Purchase Bestow life insurance by: Bestow policies can be accessed online via the business website.
Reference

1. Forbes

Post a Comment

0 Comments

SHARE ON....👇