Bestow Gives Utah Residents Early Access to On-Demand Life Insurance

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Founded by two BYU graduates, Utah among the first states granted pre-launch access to fully-digital life insurance solution

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Bestow Inc., the company behind a revolutionary new approach to life insurance, today announced its license in the state of Utah to launch its comprehensive, full-stack platform. For the first time, Bestow’s solution will be available to the public, giving Utah residents access to a life insurance platform that allows them to quickly learn about options and apply for and purchase coverage instantly and without a medical exam.

Leveraging applied intelligence and algorithmic underwriting, Bestow redefines the way millions of consumers research, buy, and manage life insurance. Using data to calculate risk, Bestow removes the need for a medical exam and streamlines the entire process into a matter of minutes. Customers simply come to the website, apply and choose between term life insurance options that have been newly designed to prioritize speed to purchase and affordability. Plans start under $3 per month for a two-year subscription and under $9 per month for a 20 year subscription, with coverage up to $500,000. Customers can cancel or change their plan any time without penalty.

At launch, Bestow is making it even easier by offering to pay for the first two months of coverage. The Join Bestow trial gives customers who qualify full coverage for the first two months of their Bestow subscription, letting them experience the ease and convenience of a Bestow plan that works for their lives and financial future. Customers must register on Bestow’s website prior to its launch to be eligible for the program. Details can be found at http://www.hellobestow.com.

“For many, the legacy life insurance model is a time consuming and often confusing process. We’ve developed a method that combines machine learning, data, and technology to easily and instantly determine top-rated, affordable coverage,” said Melbourne O’Banion, co-founder and CEO of Bestow. “From beginning to end, we’ve designed the experience and products to be easy to understand, fast to obtain, and a quality, affordable solution for millions of families.”

The Utah launch builds on the company’s early access roll-out in states across the South, and follows a series of recent news, including a seed round financing, closing $2.5 million led by New Enterprise Associates (NEA), as well as a partnership announcement with Munich American Reassurance Company and North American Company for Life and Health Insurance®. Bestow was founded by entrepreneurs and Brigham Young University graduates Melbourne O’Banion and Jonathan Abelmann, to launch a consumer-first life insurance solution driven by technology.

“Utah has an amazing spirit of innovation, founded by pioneers blazing new trails,” said Jonathan Abelmann, co-founder and President of Bestow. “Our time at BYU, in the heart of the Silicon Slopes, fostered our entrepreneurial energy. Now, we’re incredibly proud to give back to that community with Bestow, giving Utah families the financial freedom and confidence to live better.”

Bestow will open for enrollment nationally at this year’s end. For more information about Bestow, please visit http://www.hellobestow.com to learn more.

About Bestow:
Bestow is revolutionizing the approach to life insurance, helping this generation protect its financial future. Bestow is the first comprehensive full stack digital life insurance solution. The company provides simple products, algorithmic underwriting, and data-driven financial solutions in a bundled, streamlined user experience. For more information about Bestow, please visit https://www.hellobestow.com/.

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Molly George
Kickstand Communications
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