Bestow Partners with Equitable to Launch Digital Term Life

The new digital Term-in-10 product never requires a medical exam and is available in coverage amounts up to $1 million and in 10, 15 and 20-year terms.

(Image credit: Senjin Pojskić.)

Bestow Inc. (Dallas), a startup digital life insurance platform, and Equitable, one of the oldest financial services companie in the U.S. and the principal franchise of Equitable Holdings (New York), today have announce a partnership and the launch of a new, entirely digital term life insurance offering called Term-in-10.

Melbourne O’Banion, CEO, Bestow.

“As one of the most respected life insurers in the industry, Equitable is the ideal first enterprise carrier partner for us at Bestow,” comments Melbourne O’Banion, Co-Founder and CEO, Bestow. “We came together because of our joint commitment to build innovative solutions that expand access to financial protection. We’re excited to deliver our unique product expertise and platform to Equitable Advisors, Financial Professionals and customers.”

Powered by Bestow’s industry-leading platform, Term-in-10 was designed for Equitable from the ground up to combine the best of digital distribution paired with the tailored support of a financial professional, according to a Bestow statement. The product is solely available through Equitable Advisors Financial Professionals who are agents of Equitable Network, LLC, thus providing a digital solution to existing customers and leveraging technology to reach and serve the next generation of customers.

Speeding the Life Insurance Application Process

Bestow reports that existing and prospective Equitable customers work with a financial professional to determine their specific life insurance needs and then apply for a term life insurance policy entirely online. If approved, coverage begins immediately, the statement says. Bestow asserts that its platform transforms the typical several-week term life insurance buying experience into one that is accomplished in about 10 minutes. “Designed with simplicity, affordability and value in mind, Term-in-10 never requires a medical exam and is available in robust coverage amounts up to $1 million and in 10, 15 and 20-year term lengths,” says Bestow.

Dave Karr, Chairman, Equitable Advisors.

“Insurance is personal,” observes Dave Karr, Chairman, Equitable Advisors. “There are substantial advantages to using a financial professional and life insurance agent who understands the specific requirements each client needs to protect their family and provide them with a comprehensive financial strategy. We’re excited about the relationship with Bestow as it allows us to provide a better more efficient experience for our current and prospective clients.”

Bestow’s describes its enterprise offering as delivering a single-source application, underwriting, and policy servicing experience that supports the entire end-to-end sale and administration of term life insurance, with plans to introduce more products in the near future. “Leading carriers like Equitable Financial Life Insurance Company can license Bestow’s platform to develop and launch digital solutions that serve new customers, enhance financial professional productivity and reduce substantial cost and time hurdles that come with the administration of term life insurance products,” The Bestow statement sasy. “In addition to offering a full-stack solution, Bestow provides the expertise and resources needed to launch digitally optimized life insurance products.”

Innovative, Tailored Solutions

“The insurance space is facing unprecedented change and opportunity given tech-driven disruptions and rising consumer expectations coupled with cost and competitive pressures,” comments Hector Martinez, Head, Life Insurance Business, Equitable. “We also recognize that the pandemic prompted interest in new protection solutions and the way Americans shop for these products as more folks shifted their attention to focusing on their holistic well-being over the past year. The partnership with Bestow is another important step in our strategy to help financial professionals serve the needs of their clients with innovative and tailored solutions designed with today’s consumer in mind.”

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at or (503) 936-2803.

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