Bestow Raises $120M to Transform the World of Digital Life Insurance

Ever wished buying life insurance was as easy as ordering a pizza? Well, Bestow is making that dream a reality—one click at a time. The digital life insurance startup just secured $120 million in Series D funding, and it’s setting its sights on completely redefining how we think about insurance. Led by industry heavyweights like Goldman Sachs Asset Management and Smith Point Capital, this funding round marks a major milestone in helping more people access simpler, faster, and smarter insurance coverage.

Why Is This a Big Deal?

Let’s be honest—shopping for life insurance can be downright confusing. Endless paperwork, medical exams, and complicated policies often scare people away. Bestow is turning that messy process on its head with a user-friendly, fully digital approach that lets folks get covered in minutes—yes, minutes!

So when a company like Bestow announces a big funding round, it’s not just news for the tech world—it’s a signal that life insurance is (finally) stepping into the 21st century.

What Makes Bestow Different?

Imagine applying for life insurance the same way you sign up for Netflix. No in-person meetings. No blood tests. No waiting weeks for approval. Just a few clicks, a bit of basic info, and bam—you’re covered.

That’s the magic Bestow is offering. Their platform is designed with ease of use in mind, helping users get term life insurance policies faster and with fewer hurdles than traditional companies offer. Bestow stands out by using technology to:

• Assess risk faster using data-driven algorithms
• Offer competitive policies entirely online
• Simplify approvals—no need for medical exams in most cases
• Partner with financial institutions to broaden access

Essentially, Bestow is cutting through the red tape and giving people what they want—peace of mind without the hassle.

What Will the $120 Million Be Used For?

So, what’s Bestow going to do with all that money?

According to CEO Melbourne O’Banion, the funding will help the company push forward with its mission: making life insurance more accessible and affordable for everyone. That includes expanding product offerings, advancing their technology, and bringing in top talent to keep the momentum going.

They also plan to grow their network of partners—think banks, identity verification firms, and health data providers—to make the sign-up experience even smoother.

Digital Life Insurance: The New Normal?

The COVID-19 pandemic taught us that just about everything—from school to shopping—can be done online. Why not life insurance too?

Companies like Bestow are tapping into that shift, offering services that are:

• Fast: Most users can get a quote and approval in less than 10 minutes
• Simple: Say goodbye to long forms and confusing fine print
• Safe: With strong data security measures, privacy isn’t a concern

The digital-first approach is especially appealing to millennials and Gen Z consumers, who value transparency, speed, and flexibility. Many of them are entering stages of life where getting life insurance becomes important—starting families, buying homes, or launching businesses—and Bestow is showing up right where they need it.

Investors Are All In

With heavy hitters like Goldman Sachs and Smith Point Capital leading this round, it’s clear the investment community believes in Bestow’s vision. These aren’t fly-by-night investors—they’re strategic players with a history of betting big on industry disruptors.

Other participants in the round include Bestow’s longtime backers, who seem more confident than ever that the company is onto something potentially huge. And financial experts agree: the digital insurance market is booming, especially with more than $5 billion in venture capital poured into the space in just the last year.

Meet the Team Behind the Movement

This kind of success doesn’t happen overnight. The Bestow team, led by co-founders Melbourne O’Banion and Jonathan Abelmann, has been working tirelessly to revolutionize life insurance since launching in 2017.

They’ve built a product that doesn’t just look good on paper—it actually works for real people. Users rave about how easy it is to get covered and how refreshing it feels to deal with an insurance company that doesn’t talk in riddles.

A Personal Take: Why This Matters

I remember trying to get life insurance a few years ago. I sat in an awkward office, that smelled like printer ink and anxiety, answering what felt like a million questions. After weeks of waiting, I got an offer that was twice what I expected and featured a lot of small print I couldn’t understand.

Now, platforms like Bestow make that process feel obsolete. With the ability to apply in your pajamas and get approved instantly, getting protected doesn’t have to feel like a chore anymore.

Where Does Bestow Go From Here?

Thanks to this new funding round, Bestow is in a prime position to scale. They’re expected to:

• Launch new insurance products to meet growing demand
• Expand their technology to make the application process even smarter
• Grow internationally (fingers crossed for global coverage!)

The company is also planning to hire more engineers, marketers, and customer support agents—building a well-rounded team to support its next phase of growth.

Is Now the Right Time to Get Life Insurance?

If you’ve been on the fence about life insurance, this could be the wake-up call you need. With digital-first companies like Bestow making it faster and easier than ever to get covered, there’s really no reason to put it off.

Whether you’re a young professional, a new parent, or simply someone who wants to prepare for the unexpected, getting life insurance is one of the smartest financial decisions you can make. And with Bestow leading the charge, the excuses are quickly running out.

Final Thoughts

Bestow’s $120 million Series D fundraise isn’t just good news for the company—it’s a major win for anyone who believes life insurance should be simpler, cheaper, and more accessible. With powerful tools, smart partnerships, and a clear mission, Bestow is paving the way for a digital insurance revolution.

So the next time you think about protecting your future, remember—you don’t need a stack of documents and a steely-eyed broker. You just need your smartphone, an internet connection, and a few spare minutes.

Welcome to the future of life insurance. And it’s looking bright.