Gifting life insurance assessment | Immediate Coverage

If there was one option I wish I had when I first started looking for life insurance, it would have been life insurance with no exam.

The only problem with buying life insurance has always been the lengthy application process.

give life insurance

But there’s a new answer to getting life insurance, one that gives you the best life insurance without medical examination and apply directly online.

In the age of Alibaba and Amazon, it was only a matter of time before life insurance caught up and Bestow is the answer.

This detailed Bestow review covers how they provide coverage without a medical exam, the different insurance options they have, how to get a quote quickly and avoid medical exams with a fully online application.

Advantages and disadvantages of gifting life insurance

Below is a list of some of Bestow’s pros and cons and a brief overview of how to qualify for a policy.

Pros

  • Absolutely NO EXAM
  • Up to $1.5M in Coverage
  • Conditions of 10, 15, 20, 25 and 30 years
  • Apply online without an agent
  • 5 minutes, instant online approvals

cons

  • Not in NY
  • Only covers ages from 18 to 60
  • Only donating offers term life
  • Only a few riders available

How do you qualify for a gift policy?

To be eligible for the Life Insurance Gift, you must:

  • Be a US citizen or permanent resident between the ages of 18-60.
  • Choose between 10, 15, 20, 25 and 30 year term options.
  • Need between $50,000 and $1,500,000 without exam coverage.
  • Live in every state except NY.

It’s easy to see, the pros outweigh the cons and frankly, isn’t that what you want in an insurance company?

With a wide variety of policy options, Bestow makes it easy to get covered.

No life insurance exam made easy.

Agents not needed.

Request quotes and sign up online without talking to a broker. But we’re here if you need us.

Impartial, expert advice.

Get unbiased insurance education from licensed experts and also avoid unreliable sales calls.

Coverage in minutes.

You cannot get life insurance coverage within minutes of receiving your quotes and applying for an exam.

Who or what is gift insurance?

Bestow Life was founded in 2016 by a group of financial experts, technical specialists and licensed agents.

However, they are supported by North America. As of today, North America has an A+ (Superior) rating from AM Best.

Is gift insurance legit?

In 2020, Bedow raised $50 million and also became the first all-digital life insurance company in the US after obtaining a carrier license.

North America has been around for over 100 years and was founded in 1886. So yeah, Bestow is pretty legit when it comes to the life insurance space.

Is Donating a Good Life Insurance Company?

According to Bestow, they have completely redesigned the life insurance buying experience to be super simple and more affordable.

You can apply and make an instant decision in less than 5 minutes and unlike other online life insurance providers, they underwrite the policies they offer internally with their own technology – accelerated acceptance.

Schenk is also the only no-exam carrier that offers 10, 15, 20, 25, and 30-year options with life insurance coverage up to $1.5 million and they have a foundation that helps people.

Foundation donation

Schenk heads a foundation that supports families who have recently lost income but lacked life insurance protection.

Backed by Bestow, their members and partners, the Bestow Foundation will work to restore hope and stability.

The Bestow Foundation was established in 2017 as a 501(c)(3) in line with their current corporate mission.

What does coverage provide?

If you qualify, Bestow will cover you right away without having to draw blood or do a medical exam. Donate life insurance offers up to $1.5 million in term life insurance policies with terms of 10, 15, 20, 25, and 30 years.

give life rates

10 year term life insurance

The 10-year option will cover you for 10 years before it’s time to purchase a new policy. This policy is becoming the most affordable option with low prices and is best for people looking at their short term needs. A 10-year term is a good starting point and it is essential to secure your low rates.

15 year life insurance policy

The fifteen year term will cover you for 15 years before it is time to purchase a new policy. This policy is becoming the second most affordable option with low to medium prices and is best for those looking at their medium to long term needs. A 15-year term is a good option if you are starting a family or expecting a baby soon.

20 year life insurance policy

The twenty year life course policy covers you 20 years before it is time to purchase a new policy and is in between 5 different options in terms of cost; however, it will still be very affordable. The 20-year option is best for someone who is focused on their future and wants to be covered with the maximum amount of savings for a longer period of time.

25 year life insurance policy

The twenty-five year life insurance policy will cover you for 25 years before it is time to purchase a new policy. When it comes to costs, the premiums are the second highest of all options. The 25-year option is great if you want to lock in your savings and protect a mortgage or a family with college kids.

30 years term life insurance

The thirty year life insurance policy will cover you for 30 years before it is time to purchase a new policy. When it comes to cost, the premiums are the most expensive of all the options. However, it will also lock in your rates the longest and give you the most savings. The 30-year option is great if you want to capture the most savings and protect your mortgage or family.

All cause death benefit

All of these policies cover all types of accidental death, terminal illness, critical illness or chronic illness.

All insurance policies come with some restrictions, so be sure to read the policy for anything that isn’t covered.

For example, there is a waiting period of 2 years for this policy will pay for death by suicide.

How much does life insurance cost?

Offer life insurance from $10.17 per month for $250,000 in cover for a 33-year-old woman and $14.96/month for a 33-year-old male. Schenk offers up to $1.5 million in coverage and the most maturities of a simplified issuance policy. Below we cover some rates for life insurance policies from Schenk.

Donate life insurance rates for men and women

Rates based on a male and female non-tobacco user in desired health.

How do life insurance rates compare?

To give you an idea, I took the rates above for a 33-year-old male in perfect health seeking $250,000 in coverage and not using tobacco.

As you can see, Bestow is right in line with the pricing of all the heavy hitters in the life insurance industry.

However, if you qualify, Bestow can get you covered in minutes, rather than having to take an exam or wait weeks for an answer.

Donation vs. Port Life Insurance

In my professional opinion, Schenk and Haven Life are at the top of the list when it comes to online term life insurance, but overall: donate will probably be your best choice.

This is because when it comes to immediate coverage of issues there is no better option and now that Bestow offers several term length options it is a no-brainer.

However, if you need more than $1.5 million in coverage, Haven Life is your best and probably fastest option.

No life insurance exam made easy.

Agents not needed.

Request quotes and sign up online without talking to a broker. But we’re here if you need us.

Impartial, expert advice.

Get unbiased insurance education from licensed experts and also avoid unreliable sales calls.

Coverage in minutes.

You cannot get life insurance coverage within minutes of receiving your quotes and applying for an exam.

Provide payout on claims?

Yes, Schenk offers term life insurance policies for 10, 15, 20, 25 and 30 yearsIf you die during your term, your beneficiary will receive the death benefit from your policy.

How do I submit a claim?

Right now, the fastest way to to file a claim with Schenk is to call them at 1-833-300-0603 to speak to one of their Customer Care Advisors.

Are there any claim exclusions?

There are a few exclusions when paying a life insurance claim.

The exclusions include death by suicide (within the first 2 years of coverage) and high-risk activities such as diving, car or motorboat racing, and mountain or rock climbing.

Also flying or learning to fly an aircraft as a student, pilot or crew (excluding commercial pilot).

As always, read the policy specifications when it arrives in the mail; however, these are some general exclusions that are the industry standard for most policies.

How to get life insurance from donating?

No other Provide life insurance reviews are as long as mine; however, I wanted to make sure I gave as much detail as possible.

With the accelerated underwriting process, you no longer have to fear the life insurance purchase process, it’s so fast that you don’t realize it’s over and your coverage has begun.

And it gets better, you get too 30 days after you are approved to review the policy and decide if it is the right choice for you and your family.

Only click here to get a life insurance policy from Schenk or use one of the links above.

Frequently Asked Questions

Is Schenk’s life insurance policy legit?

In 2020, Bedow raised $50 million and also became the first all-digital life insurance company in the US after obtaining a carrier license. So yes, gifting is pretty legit when it comes to the life insurance space.

Does donation pay out?
Yes, Bestow offers term life insurance for periods of 10, 15, 20, 25 and 30 years. If you die during your term, your beneficiary will receive the death benefit from your policy.

What does life insurance provide?
Donate life insurance offers up to $1.5 million in term life insurance policies with terms of 10, 15, 20, 25, and 30 years. If you qualify, Bestow will provide you with immediate coverage without the need for a medical exam.

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