Life Insurance Carriers with No Medical Exam Life Insurance

Written by Jeff Root

Purchasing a life insurance policy is one of the greatest gifts you could ever give your family. By being willing to set aside just a few dollars every month, your family will gain the financial security they need no matter what the future may have in store. The process of purchasing a life insurance policy, however, can sometimes be rather complicated. If you have found yourself declined for traditional medically underwritten life insurance coverage, no medical exam life insurance is an option you should consider.

The cost of life insurance is different for everyone based on a myriad of potentially fatal health conditions, including:

  • Age, sex, height, weight
  • Health history
  • Occupation
  • Lifestyle (smoking, dangerous hobbies, etc..)
  • Amount of coverage
  • Company

The process in which life insurance companies determine monthly premiums for their customers—usually referred to in the industry as “underwriting”—involves many different variables.

Generally speaking, with life insurance companies, any variable that is statistically correlated with decreased life expectancies may end up increasing your monthly premium.

Real, quick, before we go any further, here is a list we compiled of the best life insurance companies for no medical exam life insurance.

Do I Need No Medical Exam Life Insurance?

Depending on the type of underwriting done for the insurance policy they are applying for, applicants may have to answer additional health-related questions and take a medical exam.

For some people, the policies that require a medical exam before being approved may not make the most financial sense. Perhaps they can not wait for the results of a medical examination in order to get coverage. Or perhaps they are terminally ill or in such poor health that applying for coverage on another policy would be too expensive.

No medical exam life insurance is the perfect answer to quick coverage and the best value for your money if you are not in the best of health.  While coverage is usually limited to $50,000 in most cases, there are some no medical exam life insurance policies that cover up to $250,000 and $500,000.

How Much Does N0 Exam Life Insurance Cost?

There are many different variables that will be accounted for during the underwriting process, so it is impossible to determine the exact cost of a life insurance policy for any given individual without first knowing some further information.

Even when applying for a no medical exam life insurance policy, things such as the amount of coverage you are hoping to receive, “riders” that are attached to the policy, and the specific type of coverage you are applying for will all be relevant.

One of the most important variables influencing the cost of a life insurance policy is whether you are applying for a term life insurance policy or a whole life insurance policy.

What Is The Difference Between Whole Life And Term Life?

Term life, as the name implies, is insurance coverage will provide you with financial protection for a specific amount of time (often 10, 20, or 30 years). With no medical exam life policies, these terms can be shorter, such as 1 or 5-year term policies.

Permanent life insurance coverage, on the other hand, will provide you with financial protection for however long you may live.

Naturally, because permanent life insurance is usually more extensive than term coverage, a permanent life insurance policy will cost more than a term life insurance policy.

This remains true whether you are applying for coverage that requires a medical exam or not. Other relevant details that will need to be accounted for are whether you are seeking guaranteed issue versus simplified issue life insurance, whether you are seeking graded benefit versus level benefit insurance, and many others.

By working with an independent agency or website, you should be able to easily navigate the many different options you have available and ultimately be able to make the decision that is right for you.

Who Is No Exam Life Insurance Right For?

No medical exam life insurance can be an incredibly valuable financial asset. This particular type of life insurance is often able to offer a tremendous amount of relief to individuals who want to do what is best for their family but have had difficulty finding coverage elsewhere.

If you are someone who is young, a non-smoker, and is otherwise generally healthy, then applying for a life insurance that requires a medical exam should not be a problem.

In fact, if you sincerely are in good health, the medical exam may be able to actually lower the amount you initially expected to pay because the insurance company recognizes it will likely be a long time before any death benefits need to be distributed to beneficiaries.

Unfortunately, things are not always so easy for everybody. Usually, any condition that suggests to life insurance providers that your policy will need to be paid out relatively soon will make it more difficult to secure the coverage you were initially hoping for.

No medical exam life insurance, as you might assume, is typically designed for individuals who are of an older age or have at least one serious medical condition.

The medical exam portion of the underwriting process will require a blood test, urine test, medical background check, and numerous other components. Things that will be looked for include the presence of:

  • Cancer
  • Autoimmune diseases
  • Heart disease
  • Cardiovascular disease
  • Kidney conditions
  • Other terminal conditions

If you have any of these conditions, or any conditions that make your health very poor and your life expectancy significantly lower than most people in your age group, no medical exam life insurance is probably your best bet for coverage that is not too expensive, and provides the right value to your loved ones in the event of your death.

Now the question becomes, what options are available to you?  What are the different types of no medical exam life insurance?

What Are The Different No Medical Life Insurance Options Available?

The phrase “no medical exam life insurance” is broad, and covers a spectrum of various no medical exam life insurance policies. As long as a given life insurance policy does not require a medical exam, then it can accurately be considered to fall into this category.

The broad term can be broken down into these

5 Types of No Medical Exam Life Insurance:

1. Guaranteed Issue Life Insurance

Guaranteed issue typically refers to a “term” life insurance policy that accepts nearly everyone who applies. These policies usually only offer a limited amount of coverage, but they are incredibly easy to apply for.

2. Simplified Issue Life Insurance

Simplified issue is usually a bit more involved than a “guaranteed” policy, but still much easier to apply for than an ordinary life insurance policy might be. A few health-related questions are asked, but no medical exam is necessary. These policies are still an excellent option for anyone whose health is less than perfect.

3. Guaranteed Issue Whole Life Insurance

Guaranteed issue whole life insurance is a type of no medical exam life insurance that will offer coverage for however long you may live. These policies are excellent for individuals who are in less than perfect health but are still relatively young (less than 60 years old).

4. Graded Benefits

Graded benefits refer to policies that will not be denied to anyone who applies. Even if you are experiencing the terminal stages of cancer, you will still be accepted for a graded death benefit life insurance policy. However, there will usually be a predetermined amount of time before the benefits of the policy actually kick in.

5. Level Benefits

Level benefits are the least expensive form of no medical exam life insurance—however, these policies will still consider your current health to a degree and reserve the right to deny a significant portion of applicants.

Once you are able to effectively understand the different types of no medical exam life insurance policies that are available, making your final decision should be significantly easier. When comparing the different options you have to choose from, it is usually best to do so by weighing the ratio of projected benefits to projected costs.


How We Chose Our Top No Medical Exam Life Insurance Companies

When purchasing life insurance coverage, it is very important to choose a life insurance company that is reliable and dependable. You want the coverage you purchase to help your family members in the event of your death.

For that reason, we made our choices for the Best 6 No Medical Exam Life Insurance Companies based on a few important factors:

J.D. Power Rating

These ratings are made based on a 17-factor ranking system.  Companies are ranked on a scale of 1,000, though few ever make it much above 850, because of the rigorous grading.

Customer Reviews 

What customers say is important. While each company will have its fair share of complaints, we searched for companies that have some of the best life insurance company reviews on average.

Financial Rating

These ratings can come in multiple forms, but for this particular ranking, we used A.M. Best Ratings, which is a financial rating system that ranks companies on a letter scale, with A++ being the best, and F the worst.

Best Life Insurance Companies For No Medical Exam Life Insurance – Summing It Up

One of the most common misconceptions within the life insurance industry is that if a given individual has less than perfect health, they will be automatically disqualified from receiving the coverage they need.

No medical exam life insurance policies offer a very wide array of options to those who are suffering from various medical conditions. No matter who you are or what you may be going through, there is likely a life insurance policy available that can effectively provide affordable coverage for you and your family.

7 Best No Medical Exam Life Insurance Companies:

Comapny A.M. Best Rating Customer Reviews
1. Prudential A+ 4.3 / 5
2. Five Star A- 4.0 / 5
3. Assurity A- 3.8 / 5
4. Fidelity A- 3.9 / 5
5. Phoenix B 4.1 / 5
6. Sagicor A- 4.2 / 5
7. Transamerica A+ 3.9 / 5

There are many different life insurance providers that will gladly provide you with coverage, regardless of what your current medical condition might be. These policies can provide you with the sense of security and financial protection that you and your family deserve.

1. Prudential

Prudential is known for their ability to obtain the lowest coverage for people in lower health classes by fitting them into the best health class possible for their given situation.

A very stable company, with more than 100 years of coverage under their belt, Prudential provides a signature MyTerm policy.  MyTerm is a no medical exam life insurance policy that provides $50,000 to $250,000 of coverage at affordable rates.

2. Five Star

five Star does not require any medical exam for term life insurance policies offering less than $150,000 in coverage. Additionally, there will be no MIB, Rx, or MVR checks, no questions related to smoking, and no questions related to diabetes. In order to be accepted, the applicant must be currently employed. Approval will take place almost instantly.

3. Assurity

Assurity will require records from the Medical Insurance Bureau (MIB), but there is still no medical exam required and the amount of questions they ask is relatively limited. The underwriting process will usually take 1-2 weeks and coverage is available for up to $350,000.

4. Fidelity Life

Fidelity prides themselves on their ability to usually provide a decision on an application within 24 hours. With a Fidelity no medical exam life insurance policy, no medical files will be required from your doctor and coverage is available for up to $250,000.

5. Phoenix

Phonix may require some medical records from your doctor (this depends on numerous variables such as the amount of coverage you are applying for) but still will not require you to take any sort of medical exam. The underwriting process will take 1 to 25 days, depending on what is required. Coverage is available for anywhere between $50,000 and $500,000.

6. Sagicor

Sagicor offers no medical exam life insurance coverage for anywhere between $50,000 and $500,000. The underwriting process is usually completed in less than one week. No medical files will be required from your doctor, even if you are applying for a larger policy.

7. Transamerica

Transamerica may require some doctor’s records and the process can take up to 4 weeks. However, the company does not require a medical exam, offers up to $250,000 in coverage, and is among the most reputable in the life insurance industry.

These are just a few of the many options you may have available. By taking the time to compare your different choices, you can be much more confident in your final decision.

Because of the health conditions that may be prevalent among those applying for no medical exam life insurance, it can be difficult to estimate exact rates without understanding a bit more about your situation, unless you are aiming for guaranteed issue life insurance.

Even then, it is strongly recommended that you contact a professional and speak with an insurance agent before making a purchasing decision. Insurance agents can help you compare all of your coverage options, costs, and help you understand what the best no medical life insurance company is for you.

The best part? It is entirely free to speak with an insurance agent. Be sure to speak with an independent agent who can offer coverage from multiple insurers, to ensure you get the best no medical life insurance rates.

Compare the Best No Medical Exam Life Insurance Rates

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About Best Life Insurance Companies
About Best Life Insurance Companies

We work with individuals across the nation to secure the best life insurance rates.

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