Bestow is now in the Centennial State! Here’s what you need to know about term life insurance in Colorado.
It was the view of Pikes Peak that inspired Katharine Lee Bates to write “America the Beautiful.” With a whopping 53 fourteeners, 41 state parks, and 4 national parks, it’s no wonder Colorado is considered one of the most beautiful states in the country. It’s also home to many a microbrewery and a variety of recreational activities (ahem).
Bestow has been rolling out coverage across the nation and is now in Colorado! So, we’ve put together this guide to help Coloradans learn more about term life insurance.
Why Do Coloradans Need Life Insurance?
Pretty much everyone needs some sort of life insurance.
In Colorado, two-thirds of all homes are owned (according to U.S. Census data), and about 29% of the population is made up of persons under the age of 18. If you’re reading this, there’s a good chance that you have a family and own a home. A policy with enough coverage can protect your loved ones’ financial futures with a gift that could pay off the mortgage and help with expenses like tuition, extracurricular activities, and more.
And the need for coverage goes way beyond just breadwinners. Stay-at-home parents need coverage, too. Even single people need life insurance. Ask yourself: Do you have others who depend on you, like aging parents or a sibling? If the answer is yes, a term life policy might be a great option to help them along should you pass away.
Finally, if you have cosigners on any of your loans, they’d be on the hook for making those payments. A life insurance policy can protect them, too.
Why Term Life Insurance
There are lots of insurance options, but the simplest and most affordable is term life insurance.
There are three components that make up a term life policy: You pick a term, select a coverage amount, and then pay monthly for the rest of the term — much like car and home insurance policies. You don’t build up a cash value or fund investments, but that’s what makes term life coverage budget-friendly. (Learn more about term life insurance.)
The death benefit, your coverage amount, is tax-free and can cover whatever your beneficiaries may need most. Think: your monthly bills (mortgage, utilities) plus the cost of additional expenses they’d have to take on.
Additional Life Insurance Resources
These articles have more information about how life insurance — specifically term life insurance — works.
What is term life insurance?
What is no-medical-exam life insurance?
What is life insurance underwriting?
How much life insurance do moms need?
Can you buy life insurance while pregnant?
How much life insurance do you need?
How does Bestow work?
Take a look around our blog for even more information.
Life Insurance the Bestow Way
With Bestow, you can get up to $1 Million in term life coverage in minutes, not weeks, and there’s no medical exam required. Yup, no needle pricks here. Just fill out an online questionnaire about your lifestyle and health, and our big data and technology do the rest. If approved, buy your policy instantly online.
We work with two of the largest insurance companies in the industry with A+ ratings in financial strength, so you can rest easy knowing our coverage is trusted and of the highest quality. Learn more about how Bestow works.
Bestow policies are provided by North American Company for Life and Health Insurance®, an insurance carrier rated A+ (Superior) by A.M. Best. Limitations or restrictions may apply.