Bestow, a digital life insurance agency based in Dallas, Texas, announced Tuesday it has entered into a definitive agreement to acquire Centurion Life Insurance Co., an inactive Des Moines-based life insurance subsidiary of Wells Fargo Financial. With the acquisition, expected to close sometime in the first quarter, Bestow will gain carrier licensing in 47 states and the District of Columbia, but the company does not plan on establishing a footprint in Des Moines. Financial terms of the deal were not disclosed. Launched three years ago, Bestow is a digital agency that specializes in providing life insurance quote decisions within about five minutes, using an accelerated underwriting algorithm it developed to evaluate risk and quickly issue policies. “We have a bold mission at Bestow to make life insurance accessible to everyone, and the Centurion acquisition underscores our commitment to bringing that vision to life,” said Melbourne O’Banion, co-founder and CEO of Bestow. With the acquisition of Centurion, Bestow will become a nationally licensed carrier. It will also continue operating as a digital agency, selling term life insurance policies issued by North American Company for Life and Health Insurance, an operating company of West Des Moines-based Sammons Financial Group. Bestow also partners with Munich RE, one of the largest U.S. reinsurers. O’Banion said his company will take over administration of a closed block of primarily fixed annuities from Centurion. Bestow does not have plans to establish a physical presence in Des Moines, he said.