Lantern Life Insurance Review
Bottom Line: Lantern offers a convenient way to secure term life insurance quickly, especially for those seeking no-exam options, but its policy choices are somewhat restricted.
Lantern, formerly known as Bestow, provides term life insurance through an online platform. Applying involves answering questions about your health and lifestyle, eliminating the need for a medical exam. The company then uses data and algorithms to determine eligibility. Based in Dallas, Lantern operates in all states except Maine and New York.
Pros and Cons
Pros:
- Quick coverage without a medical exam.
- Various term lengths available (10, 20, 25, or 30 years).
Cons:
- No options to add riders to policies.
- Unavailable in Maine and New York.
Overview
Lantern simplifies the process of obtaining life insurance by focusing on term life policies. This approach allows for rapid coverage decisions, since it eschews the traditional medical exam. Coverage amounts range from $100,000 to $1.5 million, which makes it worth considering for many consumers. This streamlined process is attractive to those prioritizing speed and ease of use.
Policies Offered
Lantern’s primary offering is term life insurance. Applicants aged 18 to 60 can select policies with terms of 10, 20, 25, or 30 years. The company focuses on instant life insurance, allowing qualified individuals to secure coverage immediately. However, policy customization, such as adding riders, is not an available option.
Lantern Life Insurance Rates
The following table shows monthly rates for a 20-year, $500,000 term life insurance policy from Lantern. These are sample rates for a healthy, non-smoking male and female; actual premiums vary based on age, health, and other factors.
Source: Insurer’s site. Rates reflect the super preferred class and are valid as of 2/28/25.
More About Lantern
Lantern’s website presents a clean and easily navigable interface. You can get an initial quote by inputting your birth date, height, weight, gender, ZIP code, and nicotine use. If you decide to apply, you can then determine your coverage amount, select your term length, and complete the application. At present, the company does not offer a mobile application.
Beneficiaries can file life insurance claims online or over the phone during business hours.
How to Contact Lantern
- Phone: 800-835-8803 (weekdays, 8 a.m. to 5 p.m. CT).
- Email: [email protected].
- Live Chat: Not Available.
