Life insurance with no medical exam is a convenient and affordable option for coverage. If you need coverage fast or don’t like needles; no exam life insurance might be the perfect option for you. We represent all of the major no exam life insurance companies and will match you to the best and least expensive option.
Quick Tip: Use the INSTANT QUOTES form to immediately view No Exam rates only. Most no exam companies offer a maximum of $500,000 of coverage. Put $500,000 or less in the quote form to see the no exam options.
If you need coverage above $500,000, you can combine multiple no exam policies. Continue reading to learn more about no exam life insurance and the details of the top companies.
Why No Exam Life Insurance?
Consumers want everything faster and easier. You can buy almost anything online today and have it delivered tomorrow. Life insurance is slowly catching up. The norm for a fully underwritten life insurance policy is 6-8 weeks from receipt of an application. You can now get approved for a no exam policy in a matter of minutes.
A fully underwritten policy requires an exam. A nurse will come to your home or business and take a urine and blood sample. That requires you to schedule an appointment in advance and fast for 8 hours before the exam. Who wants to schedule another appointment and go through that inconvenience? Now you don’t have to with a no medical exam policy.
Some people hate needles and/or have White Coat Syndrome. White Coat syndrome happens when someone gets anxious over seeing a nurse or doctor in a white coat and their blood pressure spikes. This spike can negatively affect their life insurance rating. No exam life insurance is the perfect solution for those with White Coat Syndrome.
The Top Six No-Medical Exam Life Insurance Companies
As an experienced independent life insurance agent, we have compiled a list of some the best life insurers which offer the most affordable no-medical exam life insurance policies.
Take a look at our brief description of the top companies so you will have a better understanding of what they have to offer. If you have any questions, please don’t hesitate to contact us at 858-703-6178.
Sagicor is one of the only companies to offer a No Exam Term, No Exam Guaranteed Universal Life and a No Exam Whole Life policy. Following are the basics of each policy type:
Sagicor Term Life Insurance:
|Issue Ages: 18 – 65 (20 year term Tobacco limited to age 55)||Face Amounts: $50,000 to $500,000|
|Risk Classes: Preferred & Standard Non-Tobacco and Tobacco||Term Periods: 10, 15 and 20|
|Issue Ages: 16 – 65||Face Amounts: $25,000 to $400,000|
|Risk Classes: Preferred & Standard Non-Tobacco and Tobacco, Rated Non-Tobacco|
|Issue Ages: 16 – 65||Face Amounts: $25,000 to $250,000|
|Risk Classes: Preferred & Standard Non-Tobacco and Tobacco, Rated Non-Tobacco|
Phoenix Life Safe Harbor Term is a very unique no exam life insurance option. This policy provides term life insurance and includes 4 riders. These riders allow the client to take a portion of the death benefit early in the event of a covered illness or condition. These riders include:
- Chronic Illness – Unable to perform 2 out of 6 activities of daily living or a severe cognitive impairment
- Critical Illness – heart attack, stroke, cancer, kidney failure, major organ trasnplant, ALS
- Terminal Illness – diagnosed with a life expectancy of 12 months or less
- Unemployment – waives premium for a period of time if you become unemployed
You can also add an Accidental Death Rider for additional premium. If death occurs by a covered accident, this benefit pays an additional lump-sum benefit to your beneficiaries. This policy is not going to be the least expensive no-exam term option. However, it is like term insurance on steroids with the additional benefits you can use while you are alive.
Term Periods and Issue Ages (last birthday):
- 10 year: Ages 18 – 80
- 15 year: Ages 18 – 70
- 20 year: Ages 18 – 65
- 30 year: Ages 18 – 55 (non-tobacco)
- 30 year: Ages 18 – 50 (tobacco)
Face Amounts Available by Age:
|ISSUE AGES||FACE AMOUNTS|
|18 – 50||$25K – $500K|
|51 – 60||$25K – $400K|
|61 – 70||$25K – $300K|
|71 – 80||$25K – $150K|
They also accept a lot of health conditions that other no exam companies do not. Therefore, if you have a health condition that is not life threatening, this policy may still work for you.
We also have access to another very unique no-exam policy with very limited distribution. This policy offers $10,000 to $100,000 of coverage. The term is to age 100. That means you don’t have to worry about a term policy ending in 10 or 20 years. The premiums will remain level all the way to age 100. This is from an “A” rated insurance company. To qualify, you just have to answer “NO” to 7 yes/no questions. There are no questions asked about smoking or weight. Ages to start this policy are from 18 to 64. Contact us for rates and more information about this policy.
Assurity Life offers its product as NonMed Term 350 which is a no medical exam life insurance policy. Policies are for ages 18 – 65 and you can find coverage amounts from between $50,000 – $350,000.
You cannot apply for this policy online and your application must be an agent assisted application which can be completed either by phone OR via a paper application. You will generally receive a decision within 10 days and generally not more than 14 days.
Please contact our office at 888- 905 – 0333 so you can start the application process today.
Fidelity Life Insurance offers 3 different no medical exam life insurance policies, and whichever one you choose, they will give you their decision within 48 hours. The 3 types of no-exam policies include:
• Rapid Decision Express – Provides Term life insurance issued for ages 18-65 with policy coverage ranging from $25,000 – $250,000. You are required to complete the application over the phone with an agent and you must be in good health.
• Hybrid Life Insurance – Provides Term life insurance issued for ages 18-65 with policy coverage ranging from $50,000 – $1,000,000. You will also be required to complete application over the phone with an agent. The difference is that you can be approved for this policy even if you have some health issues and will still qualify. You can take a medical exam if you wish to turn the full amount into “all cause” coverage.
• Senior Whole and Term Life Insurance – This option provides either Term Life Insurance or Whole Life Insurance for seniors from ages 50-70. The coverage options range from $10,000 – $150,000. However, you will only receive partial coverage during the first 3 years, but after 3 years you will have full coverage
AMERICAN NATIONAL (ANICO)
The ANICO Signature Term is a term life insurance policy provided for ages 18-65. The policy coverage amounts range from $50,000 – $250,000.
You have 2 options in how you apply as you can apply by phone or a paper application. An approved policy can be signed using an e-signature, or you can use a paper application which you can email, fax or have mailed to you. The company will provide you with a decision within 72 hours.
You should be aware that the underwriting requirements for this company are very stringent and you must be in excellent health before you can qualify. The advantage, if you are very healthy, is that this company has some of the best available no medical term life insurance rates.
There are many additional options for no exam life insurance companies
We have only scratched the surface of the available no-exam policies with the Top 6 No Exam companies mentioned above. Many more companies have no exam options. We now have an option for $1,000,000 of no exam life insurance. However, this option has a 50% chance of requiring an exam depending on a phone interview. As an independent life insurance agent, it is my job to match you with the best and least expensive option for your needs. Contact us with the specifics of your situation and we will educate you on the best option for your circumstances.
Types of No-Medical Exam Life Insurance Policies
As stated previously, there are several variations of no-medical exam policies and many hybrid variations offered by the various life insurers in this country.
It is vital that you understand the difference between the various policies offered as some are much more expensive than others, so be wary of the convenience and make sure you fully understand what you are applying for.
Others require no or very little information, but they tend to be more expensive. These may be better options if you do have some health issues and were not approved by other carriers.
These 2 types of life insurance policies include:
• Simplified Issue Life Insurance – You may be asked a few questions before you can be approved for these policies such as whether you are a smoker, or have been diagnosed with HIV or Aids, or whether you are currently residing in a long term facility, or have other health related issues.
• Guaranteed Issue Life Insurance – These policies are also generally issued with little or no medical information required, but they have one major feature to keep in mind. These policies generally have a waiting period (usually around 2 – 3 years) where your beneficiaries will only receive the premiums you paid during this waiting period (some companies include interest) if you die prematurely before the completion of the waiting period, and will only qualify to receive the full death benefits if you die after the waiting period or have an accidental death.
What Do No-Medical Exam Life Insurance Companies Check?
You should be aware that even though many companies do not require you to provide much in the way of medical information, you should keep in mind that you must never lie on your application about health related issues.
The reason is because ALL life insurers do have access to extensive and detailed national health data base and can uncover information about your health issues if you have been medically treated.
The Database checks made by life insurers include:
Medical Information Bureau (MIB) – This database is provided medical information from all North American life AND health insurance companies and your health information is something they share in confidence.
Pharmacy Report – This database lists ALL prescriptions that you might have been prescribed and can be very revealing about health related issues.
Motor Vehicle Report – Your motor vehicle record will be checked with specific concern about DUI, suspended licenses, moving violations or reckless driving.
Always be truthful when you apply for a no-medical exam life insurance policy. If you have less than perfect health or other concerns, give us a call. Our job is to help get you approved for life insurance (regardless of your circumstances) at the lowest rate possible.
How Do No Exam Life Insurance Rates Compare to Rates With an Exam?
To help you understand the difference in cost between taking an exam and skipping the exam, following is a comparison. This is for a 45 year old male who is healthy (with minor health issues). The rating is Preferred nonsmoker and this is for a $100,000, 20 year term:
Fully Underwritten life insurance policy cost: $19.60/month or $223.99/year
No Exam Life Insurance policy cost: $21.62/month or $248.51/year
The difference is $2.02/month or $24.52 if you pay annually.
It’s personal preference if the savings is worth taking the exam. The good thing is that we offer both types of policies and you can compare prices by using the Instant Quote form on this page.
Here is another example for a 35 year old female, standard nonsmoker (some health issues). $500,000, 20 year term:
Fully Underwritten life insurance policy quote: $40.13/month or $458.58/year
No Exam Life Insurance policy quote: $41.58/month or $477.92/year
The difference is $1.45/month or $19.34 if you pay annually.
Pros and Cons of No-Medical Exam Life Insurance Policies
Before you buy a no-medical exam policy, you should ensure you are buying the policy for the right reason. Let’s look at the pros and cons in more detail to help you make an informed decision.
No-Medical Exam Life Insurance Pros
Some of both the obvious and less obvious reasons to buy this type of policy include:
• Convenience – This is one of the most common reasons as you can get a policy easily by phone or online and do not have to take a medical exam.
• Quick turnaround Time – Traditional medical exam policies can take up to 12 weeks to be approved. With many, if not most no-medical exam insurers, you can get either same day approval or at least get a decision within 72 hours. This can be very beneficial if you require coverage immediately such as if you are taking a trip out of country, or have applied for an SBA loan or an income stream advance.
• Uncertain Health Issues – A no-medical exam policy might be your best option if you haven’t had a medical exam in several years. Insurance medical exams are relatively thorough and it’s possible you may have developed non-symptomatic health issues such as high blood pressure, high cholesterol or Type 2 Diabetes since your last visit. We do have additional information on no exam life insurance for diabetics here.
• Serious Health Issues – If you do have a health issue which concerns you, and are worried about the cost of a policy, or whether you might be declined for coverage altogether, a no-medical exam policy might be the ideal choice.
• No Needles – Many people are squeamish about needles and if this applies to you then you won’t have to worry about being poked with a needle.
No-Medical Exam Cons
There are also some good reasons not to opt for a no-medical exam policy such as the following:
No-Medical Exam Policies Are Generally More Expensive – The reason for this is because a no-medical exam policy has much less medical information about you on which to base their underwriting decision. This means the insurance company is assuming more of a risk to insure you. No-medical exam policies can be more expensive than policies which do require a medical exam. However, the difference in cost is becoming less and less between fully underwritten policies (which require an exam) and no exam policies.
Less Life Insurance Coverage – To reduce the exposure risk, almost all companies have very specific policy coverage limits on their no-medical exam policies. If you need higher life insurance policies greater than $500,000 which is the general ceiling range for no-exam policies, you may have to buy multiple policies to meet your needs.
How to Apply for No Exam Life Insurance
If you decide that the convenience of a no exam policy is worth the slightly higher cost, applying is very easy.
- Check rates using the Instant Quotes form on this page or give us a call to run quotes for you. If you have moderate to severe health conditions, contact us first to help determine which no exam company will provide the lowest rate for your situation.
- We will then complete the application with you over the phone. It will take 10 – 25 minutes, depending which company we use.
- You may or may not have to do a phone interview with the insurance company. This will vary by company and is not a big deal. The company will just ask some more specific questions about your health.
- The insurance company will then notify us of your approval. If your policy is not approved, we will help you find a more suitable company that will approve you.
- Your life insurance policy will then be emailed or mailed to you, depending on the company.
Bottom Line on No-Medical Exam Policies
If you don’t like needles, are pressed for time or have some health issues and need coverage right away, then a no-medical exam policy is an excellent choice.
If you are young and healthy, you can save money on your life insurance policy if you take a medical exam and purchase a fully underwritten policy. However the price difference between no exam life insurance and fully underwritten life insurance is becoming less. Use the Instant Quotes Form to compare rates now.
Find Low Cost No-Medical Exam Life Insurance Policies Now
An independent life insurance agent can shop dozens of life insurance companies on your behalf to save you time and money on your policy. Regardless, if you want no exam life insurance or a fully underwritten policy, we will help you get covered for the least expensive premium today.
We have access to over 70 life insurers and know which companies have the lowest cost no-medical exam policies.
Call us if you have any questions about life insurance without a health exam (No Exam Life Insurance) at 888- 905 – 0333. You can also see instant no exam life insurance quotes by using the INSTANT QUOTES form on this page.