The life insurance application process at most companies might seem drawn-out and intrusive. Most businesses need a massive amount of data. And the procedure could put some people off getting life insurance in the first place.
In order to save time and effort, some of you may be seeking a simple method of locating an appropriate life insurance coverage. When this happens, Bestow is used. Data from its users is analyzed by Bestow to streamline the quote, application, and approval procedures.
Founded in 2015 and headquartered in Texas, Bestow is an online insurance firm that aims to simplify and reduce the cost of purchasing life insurance.
Instead of having to schedule a doctor’s appointment or make a phone call, all it takes to apply for Bestow is 10 minutes of your time to complete your questions online. They employ an algorithm to search all of the available data providers. Your identification may be verified and your risk assessed without you ever having to set foot in their offices thanks to tools like prescription history databases, motor vehicle reports, criminal history, and credit ratings.
There are two life insurance plans to choose from, each with its own minimum and maximum levels of protection.
The two plans for life insurance coverage are:
10 or 20-Year Coverage
Minimum coverage under the single-coverage plans is $50,000, and maximum coverage is $1 million.
Their monthly premiums start at $8.13.
The Bestow Application Process
Getting a quote here should be your first step. You’ll just need to fill out some basic fields, such as where you live, your stats (height, age, gender, and weight), and what you weigh. The next step is to acquire an estimated premium amount that varies with the length of coverage and the total cost of the policy. If the estimate meets your expectations, you can submit an application to receive a firm quote once more information about your situation has been gathered and reviewed.
If your application is accepted, you’ll need to do just four more easy actions to finish it.
- Basic identity information
Information such as your name, address, Social Security number, phone number, email address, etc. will be collected here.
2. Details about your life and health
Your basic biographical and health information will go here. After that, you’ll need to sign a paper allowing the release of your medical records. This is the last stage before you find out if you’ve been accepted or rejected.
3. Policy choice & beneficiaries
Should your application be accepted, you will be able to confirm your insurance plan selections. If you apply for coverage with Bestow, you may be eligible for an endorsement for a sum between $500,000 and $1,000,000.
4. Payment
Payment in full initiates coverage, but you won’t actually have life insurance until you’ve paid the premiums for a while. Credit card, Apple Pay, or Google Pay only, and you’ll be charged on the due date each time. If you cancel within the first 30 days, we’ll give you your money back. Even after the initial thirty days, cancellation is free and can be done at any time. Coverage will continue for the remainder of the term for which you have already paid.
Restrictions on Policies Offered by Bestow
1. Age
When it comes to life insurance, Bestow has quite a few age-related limitations.
45-year-olds and younger can get 20-year term life insurance policies.
No one under the age of 21 or over the age of 54.5 is eligible to acquire a policy from this provider.
2. Location
Bestow Life Insurance is not available for those living in New York.
3. Personal Information
A person’s build (weight, height, body mass index), amount of existing coverage, and other criteria might all affect their eligibility for a life insurance policy.
People who are young and healthy might expect to receive attractive offers from several insurance providers. As a result, Bestow’s primary advantage is its ease of use.
My Final Thoughts
Having life insurance can help you rest easy. If you’re shopping around for a cheap life insurance policy, I recommend taking a look at Bestow Life Insurance. Find a free estimate by clicking HERE.
Life Insurance Online with Bestow, My Honest Review 2022