I think you’ll agree with us when we say that taking a medical exam for life insurance is inconvenient and intrusive. It turns out, you don’t have to take a medical exam to qualify for affordable life insurance.
Here’s what we’ll cover in this article:
- 12 Best No Exam Life Insurance Companies…TODAY (we constantly update this article)
- Top “Niche” No Exam Life Insurance Companies (if you have health complications)
- How To Qualify for No Exam Life Insurance
- Who is a good candidate for no exam life insurance
- The advantages of no exam life insurance
Feel free to scroll to whatever section most interests you.
Today, there are numerous types of life insurance coverage on the market. Depending on the type and amount of coverage being applied for, as well as the age of the applicant, a medical exam may be required for policy underwriting purposes.
Over the years, however, different policy options have been developed – some that have changed the life insurance qualification process. In order to speed up the time in underwriting, as well as to cut underwriting costs, many top rated life insurers have opted to forgo the medical exam on term life policies that have death benefits of up to $250,000.
These simple “no exam life insurance policies” can provide an easy application process, along with convenience and fast approval. And, in many instances, these policies may be conveniently applied for over the telephone or online.
This speedier underwriting can also oftentimes lead to instant approval of qualifying applicants – allowing these insureds to obtain their coverage within mere minutes rather than having to wait for weeks or months.
There are many reputable life insurance companies that offer these types of no exam plans. Such policies provide a full and immediate death benefit, and are still fully underwritten by the issuing insurance company. This means that in many cases, the full amount of death benefit will be paid upon the death of the insured without a waiting period.
InsuranceScored has “Scored” these no exam life insurance products that come to market. Here are the top 12 no exam life insurance companies.
12 Best No Exam Life Insurance Companies
Lets first talk about how we determined the 12 best no exam life insurance companies. We looked at 3 key components to each company:
- Affordability – Many no exam companies are very expensive when compared to traditional life insurance with an exam. The most weighted item in our “score” is affordability compared to the rest of the market.
- Reliability – How long have they been around? How are their financials? Are there any issues paying claims?
- Convenience – How time consuming is it to apply? How long does it take to get approved?
It’s important to preface this by saying there isn’t one company that nails all the key components above. Being consumer advocates, we weighted affordability the most since all the companies ranked are reliable…they wouldn’t make our list if they weren’t reliable.
As you’re going through our list of top 12 best no medical exam life insurance companies, it’s important to note that we didn’t put the companies in any special order based on quality or price. Every person is different and every applicant is going to have different needs, there is no true “overall #1 best no exam life insurance company.” All of the companies are excellent in their own regards and are worth investigating for your insurance needs.
No Exam Company #1: Sagicor
It’s impossible to make a list of the best no medical exam plans without including Sagicor. They have proven themselves to be one of the best places to get life insurance without a medical exam.
They have three rated classes, which is fewer than the majority of other life insurance plan. They have one of the easiest underwriting processes on the market, which makes your chances of getting the best life insurance rates much easier. You can buy life insurance coverage from $25,000 to $500,000. The large policies sizes are another reason that Sagicor is such a popular option for applicants. Not only is their underwriting process easy, but their application process is quick and simple as well. The whole process can be finished in less than 30 minutes.
No Exam Company #2: Phoenix Life
Quick Tip: You can get instant quotes for Phoenix by filling out the instant quote form on the side.
Phoenix’s Safe Harbor Term Express allows you to get up to $500,000 of coverage within days.
Phoenix Life is unique in that it offers living benefits. Meaning you can access up to 95% of your entire death benefit if you have a heart attack, cancer, stroke renal failure, major organ transplant or ALS. These critical illness benefits provide a lot of families peace of mind and that’s why Phoenix Life is a very popular choice.
The downside to this company is they are a “B” rated carrier by A.M. Best. Which means there’s a “fair” ability to meet their ongoing insurance obligations. We’ve researched them in depth and are comfortable recommending them.
Another downside is price – you’ll be paying more than a traditional life insurance policy for these added benefits.
If you’re willing to pay a little more for these benefits, InsuranceScored believe’s Phoenix life is a great company to work with.
No Exam Company #3: American National (ANICO)
Quick Tip: You can get instant quotes for American National by filling out the instant quote form on the side.
American National’s signature term only goes up to $250,000 of coverage without an exam but you can get an approval within 3 business days, sometimes even same day and the pricing is very competitive.
If you factor in the speed of issue and the fact you can complete the applications in one swoop with your agent, it’s a great choice. Also, they’re available in New York when most no-exam carriers aren’t approved there.
American National has an “A” rating by AMBest and has been around since 1905. It’s a reliable and stable company.
No Exam Company #4: Transamerica
Transamerica is one of the oldest companies on our list of top non-medical life insurance companies, being founded in 1928, they have years of experience working with all types of customers. They continue to hold an excellent A+ rating from A.M. Best and have almost no major complaints from their customers. Because of their continued outstanding ratings, we think that Transamerica should always be on the list of first places to look for a no medical exam life insurance policy.
Transamerica offers several different options for life insurance with no physical required. One of the most popular choices is their Simple Term life insurance policy, which only requires that you answer a few questions and then you’ll have life insurance. With their Simple Term Plan, you can get coverage from $25,000 to $100,000 and as long as you’re between the ages of 18-64, you qualify for insurance coverage.
Their other option is a permanent life insurance plan, which is their Guaranteed Security Life. The most notable advantage of this plan is that it’s guaranteed acceptance, which means that you’ll get be approved, regardless of your health or any pre-existing condition. If you’re between 45 – 80, then you can get a plan for up to $20,000 of protection. With these policies, the first two years are going to have limited benefits, but after those two years, the plan will offer you full coverage.
No Exam Company #5: Mutual of Omaha
Mutual of Omaha is one of the most recognizable life insurance companies on this list, but most applicants don’t realize that they also have great no medical exam policies as well.
Like most companies on this list, they offer two main options for a no medical exam insurance plan, a term plan and a whole life insurance policy. With their term plan, they will offer coverage to anyone between the ages of 30 – 74 and you can buy up to $100,000 worth of protection.
Their whole life choice is a bit more limited on the availability. If you’re between 45 – 85, then you can qualify for one of their plans, but you can only buy $10,000 worth of coverage. They market this policy as “Our Easy Way” policy, because of how simple and quick it is to get approved.
No Exam Company #6: North American Company
Established in 1886, North American Life is not new to the insurance market. In fact, they have over $13 billion in total assets. They hold excellent ratings from all of the third-party systems. If you’re looking for a stable company with a long track-record, look no further.
Through North America’s LifeVue policy, you can get immediate life insurance coverage with no waiting periods and one simple phone call. Their LifeVue term insurance plan allows anyone from the age of 18-60 get up to $500,000 of life insurance. The LifeVue whole life insurance plan can get you the same coverage if you’re between 50-80.
No Exam Company #7: Fidelity Life
Just like the rest of the companies on our 12 best no medical exam insurance companies, Fidelity Life has excellent financial stability. The have earned an A- rating from A.M. Best.
Fidelity Life has one of the most unique histories of the list that we’ve compiled. Fidelity Life was established in 1896 as “Mystic Workers of the World,” which was a fraternal society that wanted to give financial protection to the Midwest and Northern states. They later expanded their business, continued to grow, and eventually made the shift to Fidelity Life.
They have several different options for life insurance coverage, each of them has different advantages, there are two plans that allow you to get life insurance without the exam. They have a Rapid Decision Express No Medical Exam Life Insurance and Rapid Decision Senior Term Life Insurance.
The first one that we will look at is the Rapid Decision Express policy. You can buy one of these policies in lengths of 10, 15, 20, and 30-year terms. With one of the Fidelity plans, you can have insurance coverage until age 95, and you can be approved in as little as 24 hours.
The other option is the Rapid Decision Senior Term Life Insurance, as you can guess from these policies, they are designed for older applicants that are looking for cheaper insurance premiums. These plans will cover applicants from ages 50 – 70, and you can buy them in 10, 20, or 30-year lengths. Depending on your need, you can buy anywhere from $10,000 worth of life insurance to $150,000. It’s important to note that the payout from the plan will be reduced by 50% for the first two years of the plan, and after that it will return to a full 100% of the plan.
No Exam Company #8: Gerber
Gerber traditional isn’t known for their life insurance plans, but they should be one of the companies that you consider when you’re shopping for life insurance without the medical exam. As a company, they are one of the most wide-known on our list, and they have several options for life insurance coverage that you should compare to ensure that you’re getting the best plan.
They have three different options, a term life insurance plan, a whole life policy, and a guaranteed life plan. Both the term and whole life plan are simplified issue, which means that you’ll only have to answer a few health insurance questions and you can be approved for coverage in a matter of days.
If you’re only looking to get a smaller life insurance plan, a guaranteed life insurance plan is great option for you. With these plans you can purchase $5,000 to $25,000 worth of protection for your family. The application can be completed entirely online and accepted in a matter of hours. As long as you’re between 50 and 80, you can buy one of these plans.
No Exam Company #9: Assurity
Assurity has several unique advantage and disadvantages that other companies won’t be able to offer. It’s important that you understand all of the different options available to you, and Assurity could be one of the best options for your insurance needs.
One of the most notable benefits of a no medical exam through Assurity is that you’ll be able to buy more life insurance protection than you can with other companies. Assurity offers $350,000 of life insurance, which is $100,000 more than most companies.
One of the drawbacks of Assurity is that it’s going to take a lot longer to get through the medical underwriting. After you apply for coverage, it will take around 30 days to get approved. Their underwriting process is longer, but much more lenient. They aren’t the quickest, but they are still one of the best companies that you can get a no medical exam through.
No Exam Company #10: Principal
Principal Life Insurance company has superior ratings from all of the different financial rating companies, which means they have a stable outlook, regardless of which company that you ask. Not only are they a stable company, but they have used financial research to craft a no medical exam option that could be perfect for you and your family.
They created the Principal Accelerated Underwriting program, which cuts down the length underwriting process down to 2 days or less. Their studies showed that around 50% of applicants had favorable health, which eliminated the need for exams. Through their program, anyone between the ages of 18- 60 can get up to $1,000,000 worth of insurance protection. If you need more life insurance than most companies offer, Principal is going to be one of the few available options for you.
No Exam Company #11: Foresters Financial
Foresters has offered quality coverage for many years, but they have recently added new no exam options. Aside from their traditional plans, they added a “Your Term” no medical exam option in 2017 that has become one of the best options on the insurance market.
These Your Term plans have a wider age range, 18 – 80, which is larger than most companies and you can buy these plans in a 10, ,15, 20, 25, or 30-year term. With Foresters, you can buy $400,000 worth of life insurance without having to take a medical exam. They have an additional accelerated death benefit rider that you can add.
One of the unique advantages of Foresters is the Charity Benefit Provision that is attached to their plans. For no additional costs, Forester pays 1% of the face value to a registered charity that you will denote when you buy the policy.
No Exam Company #12: American-Amicable
American-Amicable prides itself on being one of the first insurance companies on the market, being founded in 1910. They currently hold an A rating from A.M. Best, which is the third best rating that a company can receive.
Their Term Made Simple plan is one of the most popular options for no medical exam coverage, and it could be one of the best options for you. Depending on your life insurance needs, you can buy $50,000 to $400,000 worth of life insurance in terms of 10, 15, 20, or 30-year term lengths. As long as you’re between the ages of 18 to 75 when you apply, you’ll be qualified to purchase one of these plans without having to undergo the medical exam.
Best Niche No Exam Life Insurance Companies
There are a lot of no exam life insurance products out there. Sometimes the 12 best life insurance companies aren’t the best priced or won’t even take you because of a health complication.
Life insurance companies underwrite each risk differently. Some companies will look at a risk more favorably than other companies. If you find yourself getting more expensive quotes because of a health condition, look into these carriers.
5 Star Life Insurance Family Protection Plan
If you’ve never been declined for life insurance and are still able to work (you don’t have to be working, just able to work), all you have to do is answer “no” to 7 health questions. As long as you don’t have cancer, leukemia, recent stroke, heart attack, coronary artery disease, heart surgery, copd, emphysema, HIV/AIDS, hepatitis, cirrhosis, drug problems, or have been hospitalized in the last 90 days – you’ll qualify for coverage.
5 Star only goes to $150,000 of coverage and is guaranteed level premiums to age 100. It’s written through the Health Depot association so you get other benefits as well.
You can get instant quotes by filling out the form on the side and searching for 5 Star in the list of companies. Just make sure you’re looking at $150,000 or less or else 5 Star won’t show up in the results.
I know we mentioned them above. However, we don’t talk about their tolerance for higher risks. They’re higher priced because of their living benefits…and also their tolerance for higher risks.
You have to understand that the best priced companies typically have stricter underwriting guidelines. Phoenix isn’t the cheapest, but it’s certainly not the most expensive either…which makes them a great choice for those with some controlled health complications.
As long as your risk is under control, there’s a good change Phoenix will take you. And if your risk is not under control, no one will take you but a guaranteed issue life insurance company which we discuss below.
AIG Guaranteed Issue
AIG offers life insurance with no medical questions, BUT you can only get up to $25,000 of coverage and there’s a 2 year waiting period before benefits kick in which is called the “graded” period.
It’s an e-signature process and can completed over the phone. An agent can also send you a paper application if you prefer as well.
You have to be over 50 years old to purchase one of these plans. If you’re under age 50, see below.
Not many agents or consumers have heard of Columbian Life. However, they have a guaranteed issue product for those between the ages of 25-80. The max you can get between aged 25-45 is $10,000 of coverage. Above age 45 you can get $25,000 of coverage.
However, there is a 3-year waiting period on benefits. Gerber and AIG only have a 2-year waiting period so if you’re over the age of 50, go to those carriers first.
Also, this is a paper application. You must mail the application back to your agent as they’ll need a wet signature.
Very niche carrier, but can help those between ages 25 and 45 that couldn’t otherwise qualify for coverage.
Common No Medical Exam Mistakes
Through the years, we have seen a lot of life insurance mistakes. Because no medical exam insurance is a unique type of coverage, it’s important that you make the best option for your insurance needs. We tend to see the same mistakes.
- Not comparing companies
- Paying too much for life insurance coverage
- Settling for the first company
- Assuming you only have one or two options
We know that getting the best no medical exam life insurance can be a confusing process, but it doesn’t have to be. We are here to help you avoid these mistakes and get the best insurance protection for your family.
How To Qualify For No Exam Life Insurance Coverage
If you’re in excellent health, skip this section – you’ll qualify easily. If you’re monitoring any health issue ( even elevated cholesterol or blood pressure), you’ll want to read below.
No medical exam life insurance qualification is based on your health. Each company is going to have different underwriting guidelines and accept or reject your application based on those guidelines.
Qualification for no exam life insurance is based on your answers to the life insurance companies application and what many consumers don’t know, it also depends on your (1) Medical Information Bureau (MIB) report, (2) pharmacy report and (3) motor vehicle report. Most no exam carriers run all 3 of these reports after you submit an application to verify the truthfulness of your answers.
With that said, many carriers of no exam life insurance ask between 15-20 health questions on the application, while others only ask a few. Some common questions on this type of policy application include the following:
- Have you been diagnosed with a terminal illness (with a prognosis of less than 24 months to live)?
- Do you smoke or use any form of tobacco?
- Have you been diagnosed with HIV or AIDS?
- Do you currently reside in a long-term care facility or hospital?
- What is your height and weight?
- Do you take any prescription medications? What for?
- Any history of cancer, stroke or heart issues?
- Any felonies, bankruptcies or hazardous activities?
You get the idea.
The point is you’re not going to sneak anything through a no exam life insurance application.
Some carriers won’t accept you if you’re taking 2 blood pressure meds and a cholesterol medication because their underwriting guidelines won’t allow it even if you’re in great health and have it under control. Other companies will take you at their best health classification.
The best way to qualify for no exam life insurance is speak with an independent life insurance agent. Be open and honest with your agent about your health situation and let them compare the underwriting guidelines of all the no exam life insurance and simplified issue life insurance carriers.
Remember, there’s always an option. If you’re in very bad health, there’s guaranteed issue life insurance with no questions asked. We mention them above with Gerber, AIG and Columbian.
Who Is A Good Candidate For No Exam Life Insurance?
There are 4 main reasons why consumers purchase no exam life insurance (as opposed to traditional fully underwritten life insurance)
1) The convenience. Most just want the life insurance process to be done with quickly and their family protected without having to jump through all these hoops and wait 4-8 weeks….and they’re willing to pay 10%-15% more for a quicker and easier process. They know they can cancel the policy when they have more time to lower their rates.
2) You don’t like getting stuck with a needle or peeing in a cup. No one enjoys getting poked with a needle, but if you’re like many consumers it can be a deal breaker. No exam life insurance makes it so those fearing the exam can still get life insurance.
3) You need coverage fast. With traditional underwriting time taking 4-8 weeks, you can take a no exam life insurance policy and get coverage within 48 hours and sometimes the same day. If you’re about to go on a big trip, your coverage expired or lapsed or need coverage to secure a loan, no exam life insurance is a great fit for your situation.
4) You haven’t seen a doctor in 2-5 years. If you haven’t seen a doctor in 2-5 years, you don’t know what’s going to happen on the medical exam. Your triglycerides, a1c levels, cholesterol or blood pressure could be problematic in securing affordable coverage. Applying with no medical exam gives you peace of mind that no matter what, you’re covering your loved one’s with life insurance. At the very least, get a no exam life insurance policy in force…and then apply for fully underwritten coverage and if your lab work is fine, you can cancel the no exam policy.
Certainly, those who are unable to qualify for life insurance due to an adverse medical condition may be good prospects for a no exam policy. Other potential candidates may be those who feel faint when faced with taking a blood test.
The Advantages Of No Exam Life Insurance
Upon death, many individuals want to ensure that their surviving loved ones are taken care of financially. This issue is usually alleviated by purchasing life insurance to cover funeral expenses, as well as other debts of the decedent.
Applying for more traditional types of life insurance coverage can oftentimes be time consuming. Typically, the process involves several different steps, including that of a medical exam in order to rule out any adverse health conditions of the applicant.
A no exam life insurance plan, however, can be applied for without an individual being required to provide blood and urine samples – and may often only require the individual to answer just a few basic health related questions in order to qualify for coverage.
This makes these policies a viable option for those who have been turned down for other life insurance coverage based on medical or health issues – ultimately providing peace of mind for the insured and his or her loved ones.