Bestow life insurance review searches have surged as consumers explore no-exam term life options. Bestow launched in 2016 as a Dallas-based insurtech startup. Founders Melbourne O’Banion III and Jonathan Abelmann built a platform for instant digital life insurance. The company raised over $308 million in funding from investors like Goldman Sachs and Valar Ventures. Policies were underwritten by North American Company for Life and Health Insurance, a Sammons Financial Group member. However, Bestow’s direct-to-consumer model has changed significantly.
- Bestow Overview and Financial Strength
- Bestow Life Insurance Review: Policy Options
- Bestow Life Insurance Rates and Underwriting
- Bestow Available Riders and Add-Ons
- Bestow Claims Process and Customer Service
- Pros and Cons of Bestow Life Insurance
- Who Is Bestow Life Insurance Best For?
- Frequently Asked Questions
In 2024, Bestow sold its insurance carrier entity to Sammons Financial Group for $20.6 million. That entity was rebranded to Lantern Insurance Company. As of August 2025, Lantern stopped accepting new applications. Bestow now operates exclusively as an enterprise technology platform powering life insurance for carriers like Nationwide, Transamerica, and USAA. This bestow life insurance review covers what the company offered, how existing policies work, and what alternatives consumers should consider today.
Bestow Overview and Financial Strength
Bestow was founded in February 2016 in Dallas, Texas. The company pioneered algorithmic underwriting for term life insurance. It achieved a $490 million valuation by 2021. In May 2025, Bestow raised $120 million in Series D funding. Goldman Sachs and Smith Point Capital led that round. The company also secured a $50 million credit facility from TriplePoint Capital. Bestow won the 2025 FinTech Breakthrough Award for Best InsurTech Solution for Life Insurance.
Bestow itself was not a rated insurance carrier. Policies were underwritten by North American Company for Life and Health Insurance. That carrier holds an A+ (Superior) rating from AM Best. This is the second-highest rating possible. Policies were also reinsured by Munich Re, adding another layer of financial stability. As a result, policyholders had strong backing from well-established financial institutions. Existing Bestow policies remain in force under Lantern Insurance Company, which is part of the Sammons Financial Group.
Any bestow life insurance review should include the company’s complaint history. North American Company reported a complaint index of 0.00 with the NAIC in both 2023 and 2024. That is an exceptional record. On consumer review platforms, Bestow earned a 4.5 out of 5 on Trustpilot from over 900 reviews. The BBB gave Bestow an A+ business accreditation rating. However, customer reviews on the BBB averaged only 2.17 out of 5 stars. No JD Power rating exists for Bestow specifically.
| Rating Source | Score / Grade |
|---|---|
| AM Best (North American Company) | A+ (Superior) |
| JD Power | Not Rated |
| NAIC Complaint Index | 0.00 (2023-2024) |
| BBB Business Rating | A+ Accredited |
| Trustpilot | 4.5 / 5 (900+ reviews) |
Bestow Life Insurance Review: Policy Options
Bestow offered term life insurance only. The company did not sell whole life, universal life, variable life, or final expense policies. Coverage amounts ranged from $50,000 to $1,500,000. Term lengths included 10, 15, 20, 25, and 30-year options. Applicants had to be between 18 and 60 years old. For example, applicants under 45 could access all term lengths up to 30 years.
Age-based restrictions applied to older applicants. Those aged 45 to 49 were limited to a maximum 20-year term. Applicants aged 50 to 58 could only purchase up to a 15-year term with coverage capped at $1 million. Applicants aged 59 to 60 were restricted to 10-year terms. In most cases, younger applicants had the widest range of options. This bestow life insurance review notes that approximately 90 percent of applications were approved.
One important limitation stands out in this bestow life insurance review. There was no term conversion option. Policyholders could not convert their term policy into permanent coverage. Many competing insurers offer this feature as a standard benefit. Typically, term conversion allows aging policyholders to lock in coverage without new underwriting. Bestow’s lack of this feature was a significant drawback for long-term planning. Many families who compare home insurance at Home Insure Guide also want flexible life coverage, since bundling life and home insurance is a common financial planning strategy.
Bestow Life Insurance Rates and Underwriting
Bestow used a fully digital, no-exam underwriting process. There were no blood draws, urine samples, or nurse visits. The entire application took approximately five minutes. Many applicants received instant approval with same-day coverage. The system relied on algorithmic underwriting powered by third-party data sources.
Data sources included prescription history through LexisNexis. The system also checked credit history, driving records, criminal history, and bankruptcy records. Applicants answered seven basic health questions covering medical history and lifestyle. Answering yes to any question triggered follow-up questions. However, no physical examination was ever required. This made Bestow especially appealing to healthy applicants who wanted fast coverage.
Rates were competitive for young, healthy women. Starting prices began around $11 per month. For a healthy 30-year-old purchasing $250,000 in 20-year term coverage, Bestow generally matched industry benchmarks. However, rates were less competitive for men and older applicants. A bestow life insurance review of pricing shows the company fell in the middle of the market. Bestow was not the cheapest option, but offered strong value for its target demographic. You can also compare auto insurance rates at Car Cover Guide, since bundling auto and life insurance through the same carrier can save money.
Bestow Available Riders and Add-Ons
This section of the bestow life insurance review highlights a major limitation. Bestow offered no riders whatsoever. There was no accelerated death benefit rider for terminal illness payouts. There was no waiver of premium rider for disabled policyholders. No child term rider was available. No accidental death and dismemberment coverage was offered.
The absence of riders set Bestow apart from most competitors. Typically, term life insurers include at least an accelerated death benefit rider at no extra cost. Many also offer chronic illness riders and conversion privileges. Bestow’s stripped-down approach kept the product simple. However, it also left policyholders without important safety nets. As a result, consumers who needed flexibility had to look elsewhere.
For comparison, carriers like Haven Life and Ladder both offer accelerated death benefit riders. Many traditional insurers include waiver of premium and conversion options as standard features. This bestow life insurance review finds the lack of riders to be the company’s biggest weakness. Consumers who value add-on protection should carefully weigh this limitation.
Bestow Claims Process and Customer Service
Beneficiaries could file claims at bestow.com/file-a-claim or by calling 833-300-0603. After the initial claim submission, a claim packet was sent to each listed beneficiary within two to three weeks. Required documentation included a claimant’s statement with bank information and a certified death certificate. Bestow aimed to process and pay claims within 10 calendar days.
Payment was delivered by wire transfer directly to the beneficiary’s bank account. This bestow life insurance review notes that the process was straightforward. However, some customers reported difficulties reaching customer service. Bestow operated as an online-only company with no local agents. In most cases, all communication happened through digital channels. Customer service hours were limited compared to traditional insurers.
On Trustpilot, 89 percent of reviewers rated their experience as excellent. Common praise focused on the fast application process and quick approval times. However, some reviewers complained about final rates being higher than initial quotes. Others reported coverage denials after providing personal information despite good health. A few customers experienced policy cancellations over application discrepancies.
Pros and Cons of Bestow Life Insurance
Pros:
- Five-minute application with no medical exam required
- Instant approval and same-day coverage for most applicants
- Policies backed by North American Company with an AM Best A+ rating
- Coverage amounts up to $1.5 million with flexible term lengths
- Strong Trustpilot rating of 4.5 out of 5 from over 900 reviews
Cons:
- No longer accepting new applications as of August 2025
- No riders or add-ons of any kind, including no accelerated death benefit
- No term conversion option to permanent life insurance
- Not available in New York and limited in several other states
- Less competitive rates for men and older applicants
Who Is Bestow Life Insurance Best For?
This bestow life insurance review must address the most important fact first. Bestow is no longer selling policies directly to consumers. As of August 2025, the Lantern Insurance portal stopped accepting new applications. Existing policyholders continue to have their coverage honored. However, new customers cannot purchase a Bestow policy today. The Bestow technology platform now powers policies through partner carriers like Nationwide, Transamerica, and USAA.
For existing policyholders, Bestow was best for healthy adults aged 18 to 45 who wanted fast, affordable term life coverage. The no-exam process was ideal for tech-savvy consumers comfortable with digital-only service. It worked well for people who needed straightforward death benefit protection without complex riders. Typically, young professionals and new parents found the most value in Bestow’s simple approach.
For consumers searching today, this bestow life insurance review recommends exploring Bestow’s partner carriers instead. Nationwide and Transamerica now use Bestow’s technology for their own term life products. These carriers offer broader product lines, rider options, and conversion privileges. Consumers who valued Bestow’s instant underwriting can find similar experiences through these established partners. In most cases, working with a carrier that offers both term and permanent options provides better long-term flexibility. This bestow life insurance review concludes that while the original product was innovative, the market has evolved beyond what Bestow offered as a standalone option.
Frequently Asked Questions
Can I still buy a life insurance policy from Bestow in 2026?
No, Bestow is no longer selling policies directly to consumers. The company sold its insurance carrier to Sammons Financial Group in 2024. However, Bestow’s technology now powers term life products through partner carriers like Nationwide and Transamerica.
What happens to my existing Bestow life insurance policy?
Existing policies remain fully in force. They are now serviced by Lantern Insurance Company under Sammons Financial Group. As a result, your coverage and death benefit are still guaranteed by a financially strong carrier.
Is a bestow life insurance review still relevant for shoppers today?
Yes, because Bestow’s technology powers policies at major carriers. Typically, consumers can access similar instant underwriting through Nationwide, Transamerica, or USAA. In most cases, these partners offer more comprehensive coverage options than Bestow’s original standalone product.
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Official Sources & Resources
For verified information on life insurance ratings and regulations:
- AM Best (Financial Strength Ratings): ambest.com
- NAIC (Complaint Ratios): naic.org
- ACLI (American Council of Life Insurers): acli.com
- Insurance Information Institute: iii.org
- J.D. Power (Customer Satisfaction): jdpower.com
Content last reviewed April 2026. If you notice any outdated information, please contact us.