Who is Bestow? Bestow is a tech company and licensed insurance agent with a modern approach to life insurance. With us, you answer simple questions online about your lifestyle and health while we do a few checks in the background. We use data instead of medical exams and sales reps. If approved, your policy is created and available to purchase immediately.
Can I trust buying term life insurance from Bestow? All policies are provided by North American Company for Life and Health Insurance®, a member of Sammons® Financial Group, and reinsured by Munich American Reassurance Company. Both are rated A+ (Superior) by A.M. Best*. Our partnerships help to ensure your policy is long-lasting. Read more about our fantastic partners below in the footnotes.
How do I actually get my policy? When Bestow launches, you’ll be among the first to know. We’ll send you an email with a link to start your application. Use the same email address in the application that you used here so if you’re approved we can lock in the first 2 months of premium on us benefit.
Who would be a good fit to buy insurance from Bestow? If you are a U.S. citizen and in good health overall (meaning you don't have serious health issues), then this may be a good fit for you.
Can I cancel or get more coverage? Yes and yes. The policies we offer are billed on a monthly basis, so you can cancel your policy or get more coverage at any time. Keep in mind that getting more coverage may require that you answer a few more questions and be approved, but still no medical exam.
What is term life insurance? Term life insurance provides a death benefit for a limited time or “term”. For example, a 20 year term policy would pay out a death benefit (also known as the coverage amount) to the beneficiaries if the insured should pass away within the 20 year policy.
What happens after I sign up? After you fill out the form and click "Get Early Access" you'll be redirected to a confirmation page with more information. You'll also get an email confirming that you've been added to the list.
Upon approval, Bestow will be paying the full monthly premium for the first two months of your term, at no cost to you, excluding the states listed below. After the first two months, the credit card collected during your application will be charged the full monthly premium rate shown during enrollment and in the schedule of your policy contract. A valid credit card is still required in order to issue a policy. Bestow is paying the premium and not receiving a commission on the sale of this product during the no cost to consumer two-month period.
Excluded States: Unfortunately, Bestow is not able to offer the first two months premium at no cost in the following states: Illinois, Kansas, Massachusetts, Minnesota, Pennsylvania, and South Dakota. Residents from those states who apply can still purchase a policy if approved, and cancel within the first 30 days for a full refund. Bestow is not licensed to do business in New York.
*A+ (Superior), the second highest rating out of 15 categories, was affirmed by A.M. Best for North American as part of Sammons Financial Group on July 6, 2017. 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.
About Sammons Financial Group
Sammons® Financial Group is comprised of North American Company for Life and Health Insurance®, MIdland National® Life Insurance Company, Sammons Retirement Solutions® Inc. and Sammons Financial Network® LLC, member FINRA.
About Munich Re Group
Munich Re, U.S. (Life), founded in 1959, is one of the largest reinsurers in the U.S. offering life and disability reinsurance to insurance companies throughout the United States. The company also writes group, credit and other reinsurance products. Headquartered in Atlanta, with offices in Chicago and New York, the company is licensed, accredited or authorized in all fifty states; Washington, D.C.; Guam; and Puerto Rico.