Bestow Life Insurance Review: Is It Any Good?

The post Bestow Life Insurance Review: Is It Any Good? by Thomas Jepsen appeared first on Benzinga. Visit Benzinga to get more great content like this.

A life insurance policy offers financial protection for your loved ones in case you die. However, the type of protection your loved ones receive depends on your policy. Shopping around for life insurance can help you find a policy that gives you the perfect blend of good coverage and fair premiums. If you are looking for the best life insurance for adults, you may want to consider Bestow Life Insurance. This Bestow Life Insurance review will provide key details on the policy along with the pros and cons. 

1-Minute Review: Is Bestow Life Insurance Any Good? 

Bestow Life Insurance is a good choice to consider because of the company’s quick process and no medical exam requirement. However, you can only get a term life insurance policy with a 10- to 30-year term. You must be 18 to 60 years old to get a policy. If you fulfill those requirements and want a term life insurance policy, Bestow is among the best companies for life insurance.

Bestow Life Insurance Review

Bestow Life Insurance is an agent that offers term life insurance policies through its partnerships with insurers. Bestow uses a quick and simple online application process to pair consumers with policies. It’s possible to get approved for a policy within a few minutes. Bestow does not require medical exams for its insurance policies. You can get a premium as low as $11 per month, but you must be 18 to 60 years old to obtain a policy.

Bestow’s term life insurance policies max out at 30 years, but you can opt for a shorter insurance term for lower premiums. You can choose term life insurance with a term as short as 10 years. The company gives consumers a quick path to an insurance policy. You can get more insurance policy options from other insurance companies, but Bestow Life Insurance is a solid choice to consider if you want a term life insurance policy.

Best For

• People who want high coverage – up to $1.5 million
• Adults who are 18 to 60 years old
• Consumers who only want term life insurance

Pros

• Insurance premiums start as low as $11 per month
• Get a term life insurance policy of up to 30 years
• No medical exam required

Cons

• Must be 18 to 60 years old to get a policy
• Term life insurance only, necessitating another insurer if you want a different type of life insurance
• No policy renewal at expiration

Customer Service and Phone Number

You can call Bestow Life Insurance at 1-800-835-8803 or use the company’s live chat feature to reach a representative. The company does not list its hours of operation on its website. 

Types of Life Insurance Sold by Bestow

Bestow offers term life insurance policies for people who are 18 to 60 years old. Policyholders can pay for coverage that ranges from $50,000 to $1.5 million.

Bestow Life Insurance Rates

Bestow Life Insurance Rates depend on your age, health, coverage and other factors. Premiums start as low as $11 per month but will vary for each policyholder.

Factors to Consider

Buying a life insurance policy is a significant decision that gives your loved ones an extra blanket of financial security. Here are some things to keep in mind before you choose a policy.

The Premium

A higher premium makes it more difficult to keep up with your monthly expenses. You should review your monthly budget and see how much you can afford to pay each month for the premium before committing to a policy. It’s also worth checking if your policy qualifies as a business expense that can minimize your tax bill. Missing a single premium payment can make the entire policy void.

The Coverage

Does the insurance policy offer enough coverage for how much you are paying? You don’t want to pay a high premium only to end up with insufficient coverage. Consumers should shop around and compare premiums with coverage to see if they are getting good deals from insurers. 

The Term Length

How many years of protection do you get with your life insurance policy? Whole life insurance offers lifelong protection but comes with a higher premium. Some people only want an insurance policy with 5 to 10 years of protection. This approach can lead to the best insurance for adults who earn enough income to financially safeguard their families but need a few years to build their savings. Other consumers may opt for a 20-year insurance policy in their 50s. Everyone should gauge how long they want their insurance policies to last before committing to a policy.

How Much Does Term Life Insurance Usually Cost?

The average cost of a 20-year term life insurance policy for a 50-year-old male with good health is $82 per month. That’s $984 each year and $19,680 over the life of the policy. This example assumes the policyholder wants $500,000 in coverage.

Why You Should Trust Benzinga

Benzinga analyzes insurance companies by looking at their websites, online reviews and how they compare with other insurers. Benzinga has been delivering top-notch content for over a decade, guiding readers about the best financial products in the process.

Get the Protection You Need

Bestow Life Insurance lets consumers access affordable term life insurance policies that offer coverage for up to 30 years. You can adjust the policy based on your financial needs and the level of protection you seek. An insurance policy can offer financial stability for your loved ones under the worst-case scenario. It’s a useful resource to safeguard your family.

FAQ

The post Bestow Life Insurance Review: Is It Any Good? by Thomas Jepsen appeared first on Benzinga. Visit Benzinga to get more great content like this.