$500,000 Life Insurance No Medical Exam (Tips and Tricks)

For eligible applicants, obtaining a $500,000 no medical exam life insurance policy may be faster compared to traditional policies, with some applications completed online in as little as 45 minutes, subject to underwriting approval.

Some insurers cap no-exam life insurance coverage at $250,000, while others offer higher limits, depending on underwriting criteria. For many Americans, this amount is insufficient to adequately support their families. However, some companies offer higher coverage options based on specific underwriting requirements.

In this article, you will learn how to easily apply for a $500,000 no exam life insurance policy. Then, we’ll review some of the best life insurance companies based on their financial stability, policy quality, competitive rates, and willingness to help out their customers so you can find the best option.

Quick Summary

Many Americans find the medical exam requirement of a traditional life insurance policy to be a hassle and time-consuming. Fortunately, some insurers offer an alternative for eligible applicants: no-exam life insurance. While these policies may have slightly higher premiums, they offer a quicker application process than fully underwritten policies.

No-exam life insurance has become more affordable in recent years due to increased competition among insurers. However, coverage eligibility and pricing vary based on factors such as age, health history, and insurer underwriting standards.

Important Note: Approval for no-exam life insurance is not guaranteed. Insurers evaluate applications based on medical history, prescription records, DMV reports, and other underwriting data.

What is No Exam Life Insurance?

No exam life insurance is a type of insurance that allows individuals to secure coverage without undergoing a medical examination. This streamlined approach simplifies the application process, making it quicker and more convenient for those seeking life insurance protection.

Unlike traditional life insurance policies, which typically require a detailed assessment of an applicant’s health—including measurements like height, weight, blood pressure, and sometimes even lab tests or EKGs—no exam life insurance bypasses these requirements.

How Does No Exam Life Insurance Work?

It’s super easy…

Different companies have slightly different methods of underwriting their no exam policies. Once you get into the $500,000 life insurance range, they may ask a few more questions compared to lower benefit amounts, but you’ll still skip the medical exam.

The process always begins the same. Choose the type of policy with the right benefits and premium for your family. You can use a free tool like this Life Insurance Needs Calculator to see what the right amount of insurance is for your situation. (Hint: it’s never a multiplier of your income. That doesn’t account for variables like how many kids you have or the size of your mortgage.)

Then you’ll fill out the application.

From there, it differs. New companies are developing ways to do this entirely online. However, many still require a telephone interview, during which they ask you most of the same questions that were on your application. This is mostly to check for inconsistencies in your application.

Then, the life insurance company will send you an offer. Assuming the process went smoothly, the offer will be the same premiums and benefits you requested. The entire process can be as quick as 24 hours, though it might extend to a week or two for some who may require additional review.

In contrast, traditional life insurance applications often require scheduling a paramedical exam, which can take up to a month. Then, you have to wait for the lab results to come back and for the underwriter to review them and make a decision. Overall, the conventional life insurance process can typically span 4 to 8 weeks. While it may not seem lengthy, having life insurance secured quickly and efficiently certainly feels rewarding.

Please note that approval for a life insurance policy (exam or no exam) is not guaranteed. Insurers evaluate risk based on health history, financial stability, and other underwriting factors.

How Much Coverage Can You Get With No Exam Life Insurance? 

The coverage amount changes as companies develop better policies and improve their technical infrastructure.

If you want more than a $500,000 no medical exam life insurance policy, click to read this article on how to get $1,000,000 no exam life insurance.

We expect that number to increase in the next decade or so but remember that you must also qualify financially for your benefits.

What are the Eligibility Requirements for No Exam Life Insurance? 

Generally, it is necessary to be in good overall health to qualify for no medical exam life insurance. While minor health conditions, such as high blood pressure, may be acceptable, each insurance provider has specific criteria. Additionally, they impose height and weight restrictions, which apply to both traditional underwriting processes and their no exam policies.

They will also check your driving records. If you have DUIs or the like, they might downgrade your application.

Finally, most people will financially qualify for a $500,000 no-medical exam policy. However, the application will still ask about your income and may require proof.

Types of Life Insurance No Medical Exam Policies

Some of these policies are known as “Guaranteed Issue” or “Simplified Issue” life insurance policies. They are especially beneficial for older adults and those facing significant medical issues. However, they typically come with low coverage amounts and can be relatively costly.

Click here to read more about Guaranteed Issue Life Insurance.

Additionally, many of these no exam policies are classified under permanent coverage options, which often results in higher premiums. Whole life and universal life insurance are two prevalent types of permanent policies available in this category.

Click here for more information on Whole Life No Exam Policies.

The good news is that other low-cost, no-medical term life insurance solutions exist. These policies are affordable for just about everyone. They are even comparable in cost when compared to term policies which do require a medical exam. But again, the price difference you might pay from company to company can vary dramatically.

Life Insurance Tip: If you require more than $500,000 in coverage, you may consider “policy layering,” which involves purchasing multiple no-exam policies from different insurers to reach your desired coverage level.

Tips for Choosing the Right No Exam Life Insurance Policy for You

First, choose the right benefit, as we mentioned earlier, using our free Life Insurance Needs Calculator. There’s no sense in overpaying, right? Especially if you’re looking for a just-in-case term policy.

Second, use a free instant quotes tool like the one on this page to get tailored life insurance quotes based on your age and location. This tool facilitates easy comparisons among various insurance providers, helping you find the best rates. Know that each insurance company sets its rates differently based on risk assessment, though all must comply with state laws and regulations.

A company with better rates for your spouse might charge more for you, or vice versa. However, some companies, like the ones we’ll showcase below, let you add a spouse to your policy to make getting coverage even easier.

Working with an independent life insurance agent can be particularly beneficial if you have any health problems or a complicated health history. They can guide you to companies that charge less for specific conditions, such as hypertension, or those more lenient with their underwriting guidelines.

Then there’s the ease of application. If you prefer to handle everything online and check “get life insurance” off your “to-do” list, look for a company that offers entirely online applications. (See the Assurity StartSmart policy below.)

Up to $2M No Exam Life Insurance

If you are looking for a bigger coverage amount, such as $2 million, without undergoing a medical exam, Ethos Life Insurance is for you!

With Ethos, you can secure instant term life insurance up to $2 million instant term life insurance—offering fast and convenient protection without typical delays. While these policies might be pricier, you’re investing in speed and simplicity, perfect for those who prefer to bypass medical exams and lengthy approval procedures.

The process is quick and straightforward—Ethos evaluates your application, matching you with the most appropriate policy options tailored to your eligibility, ensuring you get the best coverage available.

However, if you have more than mild health concerns, I recommend consulting me first. I can help you navigate toward a different provider that might offer more affordable rates or be more accommodating based on your condition.

Click here to Get Your $2M Life Insurance Quote today!

Note: Availability of these products may vary by state.

3 Top $500,000 No Exam Life Insurance Policies

These three insurance providers offer $500,000 life insurance policies without the need for medical exams. They all have strong A.M. Best financial strength ratings, which is important to look for since the company still needs to be in business should you ever need to use the policy.

After we provide some detailed information about their coverage, we will also provide some quote examples so you can compare the cost you would pay for a $500,000 life insurance no medical exam policy.

Assurity $500,000 No Exam Life Insurance

Assurity has a new policy that offers a completely online application and bundles life insurance with income protection if you want that coverage, too. They hold an A- (Excellent) from AM Best. They’re also a Certified B Corp, which is an accreditation given to companies that demonstrate community and environmental responsibility.

This policy is the only one that allows you to complete the application online without talking to an agent. However, if you have any questions or need help, please reach out to us.

This is an excellent choice for individuals who are generally healthy or have only minor health issues. If you’re uncertain about your eligibility, feel free to contact us; we’re here to assist you in selecting the policy that best meets your needs.

Moreover, Assurity allows you to skip the medical exam for up to $1,000,000 on applications between 18 and 50 years old. If you’re between the ages of 51 and 65, you can still skip the medical exam if you’re applying for $500,000 or less.

Other notable features that are optional and can be added to your policy:

• Critical Illness Benefit Rider– $20,000 to $100,000 lump sum if diagnosed with a specified illness like heart attack, cancer, or stroke
• Monthly Disability Income Rider– up to 2 years of monthly income payments ($300 – $3,000) if you’re unable to do your job due to illness or injury

If you want an all-in-one policy, Assurity offers a Smart Start policy. The Smart Start strategy starts with this Assurity Term policy. You then add the critical illness and disability income rider options to your policy.

With Smart Start, you can now purchase life insurance, critical illness insurance, and disability insurance in one policy.

Click here for a detailed dive into Assurity’s StartSmart 3-in-1.

Lincoln $500,000 TermAccel

Lincoln Financial offers an excellent choice for those seeking non-exam term life policies. When using the instant quotes tool, look for the TermAccel policy, which allows you to bypass the medical exam requirement. The best part? You can secure your policy in as little as two days.

Lincoln receives an A (excellent) from AM Best for its financial strength and stable outlook. Benefit amounts range from $100,000 to $2,500,000, and the TermAccel offers flexible term lengths of 10, 15, 20, or 30 years.

They accept people up to age 60, with the exception of the 30-year term. The maximum age for non-smokers is 55, and for smokers, it is 50.

If you need coverage beyond the initial term, Lincoln offers conversion options like most term insurance companies. Additionally, if you find yourself needing coverage after the initial term, Lincoln also provides conversion options, similar to what many term insurance providers offer.

TermAccel Riders

One of the bonuses on Lincoln’s TermAccel is you can choose to add riders. These add a small amount to your premiums.

• Accelerated Benefits Rider – Pays part of your death benefits upon diagnosis of a terminal illness with a 6-month remaining life expectancy.
• Children’s Level Term Insurance Rider – Additional term coverage for your child TK LINK to children’s insurance
• Waiver of Premium Rider – Waives premium payments upon diagnosis of disability (you’re totally unable to do your job)

SBLI is undoubtedly one of our top “go-to” life insurers for low-cost, no-exam life insurance. Their rates are so low that they are just a fraction more expensive than what you would pay for an equivalent term policy that requires a medical exam. AM Best gives them a financial rating of A- (Excellent).

SBLI calls its flagship no-medical-exam life insurance policy “Guaranteed Level Premium Term.” It is term life insurance, which means it offers death benefits only.

SBLI Term Lengths – SBLI offers a variety of terms. You can opt for a 10, 15, 20, 25, or even a 30-year term. To qualify for the no-exam accelerated underwriting process, you should be aware that an age limitation applies.

Age Requirement for SBLI No Exam – You must be 18 to 60 years of age to be eligible.

SBLI will consider all risk classes and table ratings.

Policy Face Amounts – The minimum and maximum policy face amount for this term policy is $100,000 – $750,000.

SBLI Life Insurance Riders

There are four life insurance riders that you can consider. These include:

• Accelerated Death Benefit Rider– This rider will allow you to access a portion of the death benefit should you be diagnosed with a terminal illness.
• Children’s Level Term Rider– You can cover all eligible children with additional coverage up to $25,000 life insurance protection.
• Waiver of Premium Rider– Should you become totally disabled, this rider will provide a continuation of your premiums.
• Accidental Death Benefit Rider– Provides an additional payout of up to $250,000 if death occurs from an accident.

Another benefit of this policy is the Conversion Feature. The conversion feature gives you the option of converting your term policy to either a Whole Life or Universal Life policy at any point or at the attained age of 70 or the end of the level term policy.

Sample Rates for $500,000 Life Insurance No Medical Exam 

How much does no exam life insurance cost? Usually, less than people expect.

Check out the table below for monthly sample rates on a $500,000 20-year term policy for someone in good health who doesn’t smoke. If you’re in excellent health, you could have even lower premiums.

	Men	Women
Age 25	$26	$20
Age 35	$28	$24
Age 45	$59	$45
Age 55	$139	$100

Conclusion

No-exam life insurance offers a convenient alternative for eligible applicants seeking faster approval and simplified underwriting. While these policies may have higher premiums than traditional life insurance, they provide a valuable option for those looking to secure coverage quickly.

To find the best policy for your needs, compare rates, understand policy features, and ensure you meet the eligibility criteria. If you have any health concerns or need assistance, consulting an independent insurance agent can help you find the most competitive rates.

FAQs

Q1: What kind of health questions will I need to answer for a no-medical exam life insurance policy?

A: When applying for a no medical exam life insurance policy, you will typically need to complete a health questionnaire that may include questions about your medical history, current health status, lifestyle habits, and any existing health conditions. Being honest in your responses is crucial for obtaining the best possible premium offer.

Q2: Do I need to provide a urine sample or undergo a blood test for no-exam life insurance?

A: No-exam life insurance policies typically do not require urine samples or blood tests. However, some insurers may still request medical records or other health-related information to assess your risk. If you prefer a lower-cost option, consider your eligibility for simplified issue or guaranteed issue policies, which may have fewer requirements.

Q3: How does my medical history affect my coverage options for life insurance?

A: Your medical history plays a significant role in determining your coverage options and premium rates. Insurers will review your health status and may gather information from third-party services to assess your risk. A favorable medical history can lead to lower premiums and more coverage options.

Q4: What are the advantages of choosing no-exam life insurance over traditional policies?

A: The primary advantages of no-exam life insurance include the convenience of avoiding medical tests like urine samples and blood tests, quicker application processing times, and the ability to secure coverage without an in-depth medical examination. This can be particularly beneficial for those seeking a lower-cost option or who have difficulty with traditional underwriting processes.

Q5: Are there any risks associated with not undergoing medical tests for life insurance?

A: Yes, opting for no medical exam life insurance means the insurer may take on additional risk due to the lack of detailed health information. Consequently, this could result in higher premiums compared to policies that require medical exams. It’s essential to weigh the convenience against the potential cost increase.

Q6: Who is eligible for no medical exam life insurance policies?

A: Eligibility for no medical exam life insurance policies can vary by insurer but generally includes individuals who can answer health questions satisfactorily about their medical history and health status. Older adults and military members may have specific options tailored to their needs, including higher coverage limits.

Q7: Can I still get a good premium rate if I have a complicated medical history?

A: While a complicated medical history may impact your premium rates, many insurers offer competitive pricing for no exam life insurance policies. It’s important to provide accurate health information so that you can receive the most appropriate coverage options based on your health status.

Find $500,000 No-Medical Exam Life Insurance Policy Today 

At Abrams Insurance Solutions, our independent life insurance agents will evaluate numerous life insurance providers to identify the best no-medical life insurance policy tailored to your family’s needs. And, if you prefer a policy that requires a physical exam, our agents will also assist in finding the most cost-effective option available.

The pricing for no medical exam life insurance coverage is often the same as for those who take a medical exam. Be sure to ask your agent which companies provide this convenient option, as it can make the process exponentially easier.

Lastly, if you have any questions about life insurance without a health exam (No Exam Life Insurance), call 858-703-6178. You can also obtain instant no-exam life insurance quotes by using the Instant Quotes tool on this page.

Important Disclosures

• Life insurance approval is subject to underwriting guidelines.
• Premiums may vary based on health status and risk assessment.

Related Links

• How Do Life Insurance Quotes Work?
• Why is $250,000 Whole Life Insurance so Popular?