Bestow Life Insurance Review
Bestow is one of the trust worth platforms that provides term life insurance plans to people looking for it online. It provides individuals with the kind of term life insurance they are looking for. Then, if they qualify, the coverage of the insurance is provided instantly. All applicants need to do is, answer questions using Bestow’s official app, and the service makes judgments and sets pricing based on the same data and algorithms.
We give Bestow 3.5 out of 5 stars for its performance thus far. The score given to them depends upon the system considered by the National Association of Insurance Commissioners complaint statistics and the financial strength assessments of the firm. With any service, product etc., there always comes a list of pros and cons; here is a list of pros and cons for this term life insurance too:
- One doesn’t need to go through a medical exam for getting hands-on insurance coverage, and the process is quick.
- The complaints by consumers about this coverage have been very few.
- This coverage can be helpful to and is found in most of the states in the United States.
- People above the age of 60 and residents of New York State are not eligible.
- You can’t add riders to your policy.
You may think of Bestow as an expert in the field of providing quick life insurance. Algorithms and data available to it about you help it in determining whether or not the applicant qualifies. It uses the same data to help determine the fee for you. This is the only test they must give to be eligible for the coverage; the process is immediate since the need for a medical test is omitted. At Bestow, you can look for insurance as long as 10, 15, 20, 25, and 30 years, including a coverage valued up to $1.5 million. Note, you can’t add the riders since the firm doesn’t give this provision.
Bestow life Insurance Policies
Here is the mandatory age bracket for a particular term of insurance:
- Ages 18-60 for ten years.
- Ages 18-55 for 15 years.
- Ages 18-50 for 20 years.
- Non-tobacco users aged 18-45 are eligible for 25 years.
Tobacco users between the ages of 18 and 39 (female), and men between 18 and 37, can qualify.
- Ages 18-40 for female non-tobacco users and 18-39 for male non-tobacco users during 30 years.
Tobacco smokers between the ages of 18 and 31 (female) and between 18-30 (male) may apply. There’s a probability that the firm may deny your coverage if you have been diagnosed with or treated for cancer within the last ten years. Note, the firm does not provide permanent insurance plans like whole or universal life.
Customer complaints about Bestow
As per the interpretations of the findings provided by the National Association of Insurance Commissioners, the North American Company for Life and Health Insurance, responsible for issuing the insurance sold by Bestow, has received fewer complaints than expected from it in the past three years.
More about Bestow life insurance
The website used by Bestow is quite simple and easy to use. All you need to do is enter your birthday, height, weight, gender, following which a ZIP code will be provided to you with a fast evaluation of your insurance premium; the more your information is comprehensive, the more will the quote provided to you at the end will be definitive.
In case of doubts regarding the insurance, one can use the feature of live chat provided on the firm’s site. The chat will take place between you and either a bot or an agent. The applicants may start claiming just by following a simple procedure of filling a simple online form. Bestow provides no mobile application.
Guide to buying insurance accurately
It is essential to know what you need from insurance beforehand. There are various aspects you need to keep in mind before signing up for insurance. First, you must decide what kind of insurance you need, whether a term or whole. Second, you need to decide if you need the feature of adding riders. If you want, then deliberate who it will be. Determine the amount of insurance you require and the period of the coverage. Check out all the options available for you to choose from.
While you are comparing prices, ensure that the quotations provided are the same as the amount of coverage during the same time frame. Also, while getting insurance, make sure that the medical covered by the policy is the same as your requirements. Otherwise, it’d be a case of waste of money.
When we buy products, we look at the price to get hold of something at as cheap a rate as possible, right? But, this is not the case when you are buying a policy. It is recommended for you to go for insurances that have a good review as well as ratings. You also need to check the number of consumer complaints that each firm receives. Looking at the number of complaints received by the insurance firm plays a vital role as it determines the quality of service. More significant the number of complaints, worse the service of the company. This will ensure that your hard-earned money doesn’t go in vain.