If you have dependents – others who rely on your income, whether they are children, spouse or elderly parents – you will probably need life insurance. The good news is that with the rise of online companies selling life insurance, it's not as difficult as it seems to get hundreds of thousands, or even millions, of dollars in life insurance to protect your family in the event of death. sudden. Bestow is one of those companies. Bestow is an online company whose mission is "to help people protect their people". Technically, he is an insurance agent, which means that it is the link between customers and the North American Company for Life and Health Insurance®. It also offers term life insurance plans that are valid for a specific period of time. Term life insurance, unlike full or permanent life insurance, is the type often recommended by financial experts. The duration of the contract covers the insured only for the predetermined period of time, therefore it expires after, say, 30 years, when the insured may no longer have dependents. Since the value expires, term life insurance is much cheaper than full life insurance and the rate and payment are fixed: you will pay the same amount every month during the entire policy and death benefits will not change over time. standard when you get life insurance to undergo a medical checkup, but with Bestow (as with other online life insurance companies), no doctor visits are needed. Instead, the company asks you for information about your health and lifestyle and uses predictive models to get information about your health. It also provides customer support, advice from authorized life insurance agents and the ability to cancel the plan at any time. Who needs life insurance? Let's face it: life insurance isn't exactly something people love to talk about, but it's an important part of a global financial plan. Life insurance provides a lump sum of money to the chosen beneficiaries (in most cases, spouse or children) in the event of death. This money can cover the cost of the funeral, help cover loss of income or pay off outstanding debts. Anyone with dependents – others who depend on their income, whether they are children, a non-working spouse or elderly parents – probably needs life insurance. How much does Bestow life insurance cost? Bestow offers 10 and 20 year plans. The cost of these plans will vary by person, not only by duration, but also by factors such as age, smoking status and weight. Note that Bestow offers 20 year terms for people aged 21 to 45 and 10 or two year terms for people aged 21 to 54. Both plans allow you to cancel at any time, without paying any commission. You can request a plan in minutes and get approval quickly. 10 and 20 year plans start at $ 8 per month. His 10 and 20 year life insurance plans start at $ 8 per month for up to $ 1 million coverage. Under 10 and 20 year terms, you can get financial coverage for your family and protect your long-term financial life. You will pay the minimum amount per month if you are young and healthy. The price can rise with an increase in age and any medical problems. This is a good plan if: you have a family and you are the head of the family You have dependents – other people rely on your income to live You have a large debt in which a loss of income would be catastrophic You are young and healthy and you want to lock up a low long term rate Want up to $ 1 million coverage Why use Bestow? Life insurance is a serious decision and there are many companies that can help you get it. Here are the main pros and cons for using Bestow for your life insurance needs: Pros: Since Bestow only offers term life insurance, the monthly premium is low, which makes it 39; very affordable life insurance (although rates vary from person to person). mandatory visits, so this could be a good option for those who are against the doctor. It's easy to apply online without a phone call or meetings. Cons: Not everyone will qualify for life insurance – although this isn't exclusive to Bestow. If you cannot get coverage through Bestow, we recommend comparing multiple coverage options via the Policygenius insurance comparison site. Compared to other online life insurance options, Bestow has a lower maximum coverage of $ 1 million. For example, with Haven Life, you can get coverage of up to $ 3 million. With Fabric, you can get coverage of up to $ 5 million. How to apply for life insurance with Bestow If you believe that Bestow is the right life insurance for you, you can apply online quickly. Here is how it works: 1. Start with some basic information to get a quote. You will enter your gender, date of birth, height, weight and status in which you live, as well as if you are currently using based products of nicotine. 2. Request a quote for your monthly premium I have entered my information as an example. They are mid 30's and the height and weight are proportional. I don't smoke and my potential rate is $ 22.50 a month for a $ 500,000 policy over a 20 year period.
3. Create an account with an email and password This is exactly as easy as you would expect. Answer 7 questions about your health Next, you will answer a quick survey of seven questions about your health. The questions are about rapid weight loss, HIV status, disability benefits and depression, to determine if there are any health conditions that affect you now and that may affect you in the long run. 5. Answer 10 lifestyle questions Then you will answer a survey on 10 lifestyle questions. You will be asked if you are an American citizen, where you were born, if you travel more than 30 days to another country, your type of work and income, and information on your driving license. Provide your social security number and signature Next, you will be asked to provide your social security number and digital signature. You will be able to review your question before submitting it. After that, you will verify your ID. So, there is the subscription process for approval. Here's what my final offer looked like:
The final issue was around $ 17 a month more than my initial quote once I had completed the in-depth survey. Your physical and mental health history can affect your final rate. All in all, Bestow can be a good option for those who favor convenience and no medical visits. Just make sure that maximum coverage works for your needs and consider getting quotes from other insurers to find the most convenient coverage for you. Learn more about Bestow »This post has been updated to remove the mention of the two life insurance policy years of Bestow, a product that the company eliminated in April 2020.