If you came here looking to buy a Lantern life insurance policy, I have an important update for you first. Lantern, which is the company that used to be Bestow, is no longer selling new term life insurance policies. The company still exists and still services every policy it has already issued, but the application is closed. So if you searched for Lantern hoping to get a quote and sign up, you are going to hit a dead end on their site.
I have reviewed Bestow for years on this site, back when it was one of my go-to picks for fast, no-medical-exam term life. So I want to walk you through exactly what happened, what it means if you already have a policy, whether it was actually any good, and most importantly, where you should look now if you still need coverage. Let's get into it.
What happened to Lantern (and Bestow)?
Here is the short version. Bestow started in 2016 as a tech company that made it ridiculously easy to buy term life insurance online with no medical exam. In 2024, Bestow sold off its actual insurance carrier, Bestow Life Insurance Company, to Sammons Financial Group. Sammons renamed that carrier Lantern Insurance Company. The original Bestow company is still around, but it pivoted to selling software to other insurance companies instead of selling policies to regular people.
For a while in 2025, Lantern picked up where Bestow left off and sold term life directly to consumers. As of 2026, that has stopped. Lantern is not accepting new applications. Their website is now basically a customer portal where existing policyholders can log in, make payments, and file claims. If you go to their site and try to get a quote, the page is gone.
So when you see “Lantern” and “Bestow” used interchangeably online, that is why. Same carrier, two names, depending on which state licensed it and when. Sammons Financial Group, the parent company, is a big, stable operation that also owns Midland National and North American Company for Life and Health Insurance, both of which carry an A+ (Superior) rating from AM Best. Your policy is in good hands financially. You just can't buy a new one.
Already have a Bestow or Lantern policy? Here's what you need to know
If you are an existing customer, the most important thing I can tell you is this: nothing about your policy changed. Your coverage amount, your premium, your term length, and your beneficiaries are all exactly the same as the day you signed up. The name change does not alter your contract in any way. The amount you locked in is the amount you keep paying until your term ends.
Here is how to handle the basics:
- To manage your policy or make a payment: Log in at app.lanterninsurance.com. Payments draft automatically by credit card or ACH on your scheduled date.
- To file a claim: Call Lantern at 800-835-8803, Monday through Friday, 8am to 5pm CT. A Customer Care Advisor will walk you through the steps. Claims are administered and paid by Lantern Insurance Company.
- For general questions: Email team@lanterninsurance.com or use that same phone number.
One thing worth knowing: there is no live chat anymore, so phone and email are your two options. And if your policy is getting close to the end of its term, keep reading, because you will eventually need to shop for a new one somewhere else, and I have suggestions below.
Was Bestow/Lantern actually any good?
Honestly, yes, for the right person it was a solid product, and that is worth saying even though you can't buy it anymore. It tells you what to look for in a replacement.
The whole pitch was speed and simplicity. The entire application was 100% online with no medical exam, no bloodwork, and no agent calling you to upsell. You answered some health and lifestyle questions, and if you qualified, you could have a real policy in minutes instead of weeks. Coverage ran from $50,000 up to $1.5 million, with term lengths of 10, 15, 20, 25, and 30 years. Rates started around $11 a month for a young, healthy applicant. For a busy person who just wanted to protect their family without the hassle, it was genuinely one of the easiest ways to get covered.
The downsides were real too. It only offered term life, never whole or permanent coverage. There were no riders, so you got very little customization. Eligibility was limited to people roughly ages 18 to 60 who were in generally good health, which left out seniors and anyone with significant health issues. It was never available in New York, Maine, or a couple of other states. And if you outlived your term, you could not renew or convert to permanent coverage, you just had to apply fresh somewhere else at an older age.
So the takeaway for your search now is simple. If you liked the idea of Bestow, what you actually want is a fast, no-exam, online term life policy from a financially strong carrier. The good news is several companies do exactly that, and some of them are still wide open for new applications.
The best Lantern and Bestow alternatives right now
This is the part that actually matters for most people reading this. Since you can't sign up with Lantern, here are the term life insurance companies I would point you to instead. These offer the same fast, mostly online experience that made Bestow popular, and they are accepting new customers. Compare a couple of them below and grab a quote, since rates vary a lot by age, health, and coverage amount.
Best for instant approval with no exam
Top pickBest for comparing quotes from top carriers
Compare quotesBest for a 100% online, no-hassle experience
100% online — No exam, from $5/mo
Get Free Quote →
My honest advice: get quotes from at least two or three of these before you commit. Term life is a commodity in a lot of ways, and the exact same person can get meaningfully different prices from different carriers. It takes five minutes per quote and can save you real money over a 20 or 30 year term.
Related: Best Life Insurance Companies
Who should look elsewhere entirely?
A no-exam term policy like Bestow was never right for everyone, and that is still true for the alternatives. If any of these describe you, you may want a different type of coverage or a different kind of carrier:
- You want permanent coverage that lasts your whole life. Term policies expire. If you want something that pays out no matter when you die and builds cash value, you are looking at whole life or universal life, which the fast online carriers generally do not focus on.
- You are over 60 or have significant health conditions. No-exam policies price this risk in, and you may actually get a better rate from a traditional carrier that does a medical exam.
- You want a large policy, think multiple millions. Above a certain coverage amount, most carriers require an exam anyway, so the no-exam convenience disappears.
- You want lots of riders and customization. If you need things like a long-term care rider or guaranteed insurability, work with a full-service carrier or an independent agent.
Frequently asked questions
Can I still buy a Lantern life insurance policy?
No. As of 2026, Lantern Insurance Company is not accepting new applications for life insurance. The company still services and pays claims on existing Bestow and Lantern policies, but if you need new coverage, you will have to apply with a different carrier. Check the comparison above for current options.
Is Lantern the same as Bestow?
Yes and no. Bestow Life Insurance Company was sold to Sammons Financial Group in 2024 and renamed Lantern Insurance Company. So the insurance carrier is the same. The original Bestow company still exists but now sells software to other insurers instead of policies to consumers. Depending on your state and when you signed up, your policy may say Bestow or Lantern on it.
Is my Bestow or Lantern policy still valid?
Absolutely. Your policy is fully in force and unchanged. The same coverage, premium, and beneficiaries apply. Lantern handles all claims and servicing, and it is backed by Sammons Financial Group, a stable parent company with A+ rated sister carriers. Keep paying your premium and your coverage continues exactly as before.
How do I file a claim with Lantern?
Call Lantern at 800-835-8803, Monday through Friday, 8am to 5pm CT. A Customer Care Advisor will guide you through submitting the claim. You can also start by emailing team@lanterninsurance.com. Lantern Insurance Company administers and pays the claim.
What is the best alternative to Bestow?
The best alternative depends on your age, health, and how much coverage you want. If you liked Bestow for its speed and no medical exam, look for an online term life carrier that offers the same simple application. Compare the options I listed above and get a couple of quotes, since the same applicant can get very different prices from different companies.
The bottom line
Bestow was one of the easiest ways to get term life insurance, and Lantern carried that torch for a while after the acquisition. But that door is closed now for new customers. If you already have a policy, you are totally fine, just log in to manage it and use the phone number above for claims. If you are here because you need coverage, do not waste time trying to sign up with Lantern. Take the same five minutes and get a quote from one of the alternatives above instead. The fast, no-exam term life experience that made Bestow great still exists, just under different names. Protect your family and lock in a rate while you are young and healthy, because the price only goes up from here.
