Get The Coverage You Need Without the Hassle of a Medical Exam

No Medical Exam Term Life Insurance is the right choice for you if you simply don’t want to go through the hassle of a medical exam when purchasing a policy. Whether those reasons are for not having the time or not wanting an invasive physical exam completed.

Non Medical Life Insurance, also referred to as guaranteed issue life insurance, does not require you to complete a medical exam when purchasing no exam life insurance. It is important to note, however, that there are three different types of life insurance policies that fall into the “no exam” category.

With guaranteed issue life insurance, you do not have to complete a medical exam and you do not need to provide answers to medical questions. Therefore, just as the name implies, you are guaranteed to get coverage when you apply to guaranteed issue life insurance.

This is different from simplified issue life insurance, which does not require a medical exam but does require you to provide medical information as part of your application.

One of the most commonly asked questions we get is:

Can I Get Life Insurance Without a Medical Exam?

You can buy life insurance without an exam, but it may cost you.

With all the options and qualifications, Life Insurance can be confusing, can’t it?

It’s hard to keep up with the wide variety of life insurance products on the market. You are bombarded daily with commercials promoting various coverages and pricing.

…Especially if you are older and have medical issues. Can you even buy life if you are over 50 or 60 or 70? What about if you’ve had cancer?

Maybe you have pre-existing medical conditions like diabetes or high blood pressure. Do you wonder if it’s possible to purchase life insurance without going through the medical exam?

If any of these are your concerns, there are life products designed for you. They are commonly known as “no medical exam” life insurance policies, and the official term for most of these products is Guaranteed Issue Life.

Before you purchase one, there are a handful of pitfalls to consider with “no medical exam” policies.

  • You can easily over-pay for these policies
  • You might feel trapped into a plan with limited options
  • Some contain fine-print about premiums increasing every year you own the policy
  • Some have very minimal coverage, barely protecting your loved one from your funeral expenses
  • Others don’t really cover your life, unless you die from “accidental” death. Natural causes are excluded

Let’s clear up some misconceptions about these policies with a list of basics that will allow you to shop with confidence.

  1. What is “no medical exam” life? What are the various options? Who is the best fit for each type of policy?
  2. Who are the best life insurance companies for “no medical exam” life?
  3. How much does no exam life insurance cost?

What is No Medical Exam Life Insurance?

No Medical Exam Life Insurance, also referred to as guaranteed issue life insurance, does not require you to complete a medical exam.  An exam involves a medical questionnaire along with blood and urine samples, blood pressure checks, and potentially other tests such as an EKG.  It is important to note, however, that “no exams” are available, and there are three different types of life insurance policies that fall into the “no exam” category.

Types of No Medical Exam Life Insurance

Simplified issue

With Simplified Issue, you are not subject to a medical exam, but do have to complete a medical questionnaire. The insurance company will use the questionnaire to determine eligibility before they issue the policy. Acceptability based on medical conditions will vary based on the company.

Guaranteed issue

With Guaranteed Issue, you a not subject to a medical exam, neither do you to complete a medical questionnaire. Because of the broad acceptability, guaranteed issue will be more expensive than other types of life insurance. You should with an agent to determine if this category fits your situation and have them shop a wide variety of company for the best pricing

Graded Benefit Life Insurance

Graded Benefit is a form of guaranteed issue life but with a twist. Coverage does not begin immediately. Most graded benefit policies require you to be insured for 2 years before full death benefits are available. If you die during that “probationary” period, your beneficiaries either reserve a % of the coverage or the premiums you paid into the policy.

Term Vs. Whole Life

No Exam policies are available in both term and whole life options.

No Exam Term is an option if you need more than $50,000 in coverage. Like all term policies, you coverage is not permanent throughout your life, but only available for the term you select. You can purchase increments of 10, 20, or 30 year terms.

No Exam Whole Life are permanent insurance policies covering your full life span. Guaranteed issued whole life is available in smaller coverage amounts usually maxing out between $25,000 to $50,000. These policies are primarily purchased when only need burial or funeral expense coverage. The size of the coverage won’t provide much a death benefit to your heirs outside of end of life expenses.  

Who is No Medical Life Best Insurance For?

Guaranteed Issue policy will be more expensive than traditionally issued policies. You should work with an agent and pursue the traditional route first before considering a “no exam” policy. However, if any of the following apply, a “no medical exam” policy may be your best option:

  • You have serious medical conditions that have been diagnosed in the past 2 years, such as cancer.
  • You have a significant pre-existing condition, such as diabetes or severe high blood pressure
  • More than one of your parents died before age 60
  • You have a record of drug or alcohol abuse in the past 5 years

Best Life Insurance Companies for No Exam Life Insurance

An internet search will result in a large number of companies advertising “no medical” policies. We’ve sorted through the array of companies, and distilled them in our list of the best life insurance companies for “no exam” policies. We’ve included the AM Best rating (a rating for financial stability), and JD Power customer satisfaction score (if available).

Company A.M. Best Rating Our Rating
American National A 4.1 / 5
Banner Life A+ 4.3 / 5
AIG A+ 4.2 / 5
Mutual of Omaha A+ 4.1 / 5
Phoenix Life B 4.0 / 5
Transamerica A+ 4.2 / 5
Ameritas A 4.0 / 5

1. American National – AM Best Rating: A

Founded in 1905 in Galveston Texas, American National provides a wide range of no medical exam life insurance products. American National was listed in Forbes Magazine in its “100 Most Trustworthy Companies” list for 2009 & 2017.

ValueGuard Whole Life Insurance

  • Most no exam whole life maxes at $50,000, the ValueGuard products provides up to $150,000
  • Provides almost instant approval for coverage.

Legacy Whole Life Insurance

  • Coverage available up to $25,000.
  • Available for ages 50-80.
  • 2 year Graded Death Benefit (If you die in the first 2 years policy returns 110% of premium paid).
  • Provides almost instant approval
  • No increasing premiums and fixed death benefit.

Freedom Term Life Insurance

  • Terms available for 10, 20 or 30 years.
  • Coverage up to $250,000
  • Almost instant approval

2. Banner Life:  AM Best Rating: A+

Banner Life consistently ranks at the top of most insurance carrier lists. Banner is owned by London based Legal & General Insurance founded in 1836. They provide excellent “no medical” policies as well as a wide array of other life products.

For no exam coverage, Banner offers a larger face value amount at $500,000, and it consistently provides some of the best rates out there.

Appcelerate Term Life

  • Coverage up to $500,000
  • 10, 15, 20, 30 year terms available
  • Only available for ages 20-50
Banner Life Insurance Company Review

3. AIG Life: AM Best Rating: A+ / JD Power 718/1000

AIG life has only a guaranteed whole life product. They have a term life policy, but it is more restrictive than other “no exam” policy. Their term product is an accidental death product.

Guaranteed Acceptance Whole Life Insurance

  • Available for ages 50-85
  • Coverage up to $25,000
  • Living Benefits are available when triggered by a terminal illness
  • Guaranteed Level Premiums

 

AIG Life Insurance Company Review

 

4. Mutual of Omaha:  AM Best Rating: A+ / JD Power 766/1000

Mutual of Omaha offers both no exam term and whole life policies

Term Life Express

  • Coverage up to $25,000 to $400,000
  • Available for ages 18 to 65
  • Terms 15, 20, 30 years
  • Variety of Coverage Riders available such as Disability Income

No Exam Whole Life Policies

  • Available for ages 45-85
  • Coverage from $2,000 to $25,000

5. Phoenix Life:  AM Best Rating: B

Phoenix Life was founded in 1851 and is based in Hartford CT.  Phoenix Life issued a life policy for President Abraham Lincoln.

Safe Harbor Term Life Express

  • Available for ages 18-80
  • Terms for 10, 15, 20 and 30 Years
  • Coverage from $25,000 to $400,000
  • Accelerated Benefit Riders available
  • Conversion Option to a Whole Life Policy

6. Transamerica:  AM Best Rating: A+ / JD Power: 780/1000

Founded in 1928 in San Francisco, Transamerica is a premier life company known for its iconic pyramid shaped building in the San Francisco skyline.  

Living Benefits Term Life

  • Available for ages 18 to 60
  • 10, 15, 20, 25, & 30 year terms
  • Coverage up to $249,999
  • Benefit Riders Available

 

Transamerica Life Insurance Company Review

 

7. Ameritas:  AM Best Rating: A

Ameritas is a mutual insurance company founded in 1887 in Lincoln, Nebraska.

Focus 10 Term Life

  • Level premiums for 10 year terms
  • Coverage up to $1.5 Million
  • Available up to age 70
  • Can be converted to permanent insurance

 

Ameritas Life Insurance Company Review

 

How Much Does No Exam Life Insurance Cost?

There is a wide variety of pricing on insurance policies, which adds to the complexity of shopping. Below are examples of the variety you will see as you begin to shop.  Note that all term policies are 20 year terms for $250,000 of coverage. 

No Exam Life Insurance Rates for 50-Year-Old Males in Excellent Health

Company Coverage Term Monthly Premium
Banner $250,000 20 yrs $41
AIG $250,000 20 yrs $43
Mutual of Omaha $250,000 20 yrs $47
Transamerica $250,000 20 yrs $46

No Exam Life Insurance Rates for 50-Year-Old Males in Poor Health 

Company Coverage Term Monthly Premium
Banner $250,000 20 yrs $216
AIG $250,000 20 yrs $233
Ameritas $250,000 20 yrs $231
Mutual of Omaha $250,000 20 yrs $242

No Exam Life Insurance Rates for 70-Year-Old Males with Excellent Health 

Company Coverage Term Monthly Premium
Banner $250,000 20 yrs $412
AIG $250,000 20 yrs $414
Ameritas $250,000 20 yrs $524
Transamerica $250,000 20 yrs $460

No Exam Life Insurance Rates for 70-Year-Old Males with Poor Health 

Company Coverage Term Monthly Premium
Banner $250,000 20 yrs $658
AIG $250,000 20 yrs $662
Transamerica $250,000 20 yrs $677

These are good examples of why using an agent can help you sort through the variety of options and coverages. Our agents are experts at customizing a life policy to fit your needs and budget. We will quote multiple insurance companies, so you have more than one choice.

By comparing all of your options, you will increase your chances of finding the type of policy you are looking for at a rate you can afford. Click below to begin exploring your life insurance options.

Finding the Best No Exam Life Insurance 

When it comes to finding the right no exam life insurance policy for your needs, it is important to be able to compare a lot of options on the market.

This is where working with an independent life insurance agent is important.  Our agents can help you compare dozens of the best no exam life insurance companies, policies, and rates for your specific situation.

Give us a call today to speak with an expert and discover more about your no exam life insurance options.

Or get started now using our online rate comparison tools to find no exam life insurance quotes for you.

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