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No Exam Life Insurance

life insurance no exam for family

NoExam.com strives to deliver relevant and straightforward information from licensed insurance agents. Over the last six years, NoExam.com has helped thousands of families secure coverage with no medical exam. In our experience, we have found some companies stand out from the competition as the best no exam life insurance companies.

Thus, our expert agents contributed to the list below to compile a steadfast directory of what we believe to be the best no exam life insurance company options available. The purpose of this page is to decrease some leg work for consumers coming to NoExam.com looking to purchase life insurance.

For straightforward and reliable answers to your no exam life insurance questions, continue reading below. Our goal is to help you make the best decision before buying this type of life insurance.

Table of Contents

What is No Medical Exam Life Insurance

No Medical Exam Life Insurance is term life insurance that does not require a physical medical exam. It offers life insurance coverage to people who are in overall good health. Shoppers of life insurance should understand the following key characteristics of no exam life insurance before going forward:

  • No medical exam policies are not the same as guaranteed acceptance policies
  • The application takes as few as 20 to 25 minutes to complete and consists of health questions regarding medical history that will determine the applicant’s insurability
  • Applicants do need to disclose any health issues

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How is it Possible to Not Take an Exam and Still Get Life Insurance?

Although a physical medical exam does not take place, the insurance provider uses external sources to gauge an idea of the applicant’s overall health. This takes place during the life insurance application process via the following sources:

MIB

The Medical Information Bureau (MIB), is a member-owned corporation that operates on a non-profit basis within the United States and Canada. They have been in business for over 100 years and help life insurance companies in the underwriting process to determine the applicant’s health-based risk.

Basically, the MIB serves as a fact checker for life insurance companies when it comes to the medical information you submit on your application. It helps the insurance company verify who you are, know what your medical conditions are, and make sure you are telling the truth on your application.

Rx Report

The Rx report, or prescription report, is another third-party resource used by life insurance companies during the underwriting process. This report allows life insurance companies access to information such as prescription history, quantity given, date received, dosage, refills, diagnosis, and other details.

DMV

During the underwriting process, life insurance companies can access an applicant’s driving records through the DMV. This includes driving infractions such as tickets, DUIs, and other traffic offenses. It also includes an accident history log.

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No Exam Life Insurance Prices

Prices for no exam life insurance policies can range from $10 per month upwards to $100 per month. The prices depend on term length, health, and coverage amount. Those in excellent health can skip the exam and pay the same rate as for a policy they could normally not get without an exam.

The chart below compares the average monthly prices of typical no exam life insurance policies. It shows that regardless of age or gender, a no exam product can be as competitive and affordable as a traditionally underwritten product.

No Exam Price Comparison
Age Policy Type $250k
Male (monthly)
$250k
Female (monthly)
30 20 Year Term $18.12 $15.34
40 20 Year Term $25.80 $20.88
50 20 Year Term $57.18 $48.73

Best Life Insurance Companies Offering No Exam Life Insurance

Top Companies Ranked

These no exam insurance companies are the best at delivering a competitive and affordable “no medical exam” life insurance product. The list below provides the financial rankings for each recommended company from A.M. Best, which provides on of the most reputable assessment rankings of companies in the insurance industry. The list also displays a chart of coverage options each company offers, as well as the turnaround time for the application process for each.

Compare No Exam Life Insurance Companies
Top No Exam Life Companies Turnaround Time for Issuing Policies Information Required for Underwriting Available Coverage
48 – 72 hour approvals*
*best case scenario
  • MVR (Motor Vehicle  records)
  • MIB (Medical Insurance Bureau)
  • RX (pharmacy records)
$50,000 - $250,000
1 - 2 weeks
  • MVR (Motor Vehicle  records)
  • MIB (Medical Insurance Bureau)
  • RX (pharmacy records)
$50,000 - $350,000
Within 24 hours*
*best case scenario
  • MVR (Motor Vehicle  records)
  • MIB (Medical Insurance Bureau)
  • RX (pharmacy records)
$25,000 - $250,000
Same day*
*best case scenario
  • MVR (Motor Vehicle  records)
  • MIB (Medical Insurance Bureau)
  • RX (pharmacy records)
$50,000 - $500,000
1-25 days
  • MVR (Motor Vehicle  records)
  • MIB (Medical Insurance Bureau)
  • RX (pharmacy records)
$50,000 - $500,000
1 - 7 days
  • MVR (Motor Vehicle  records)
  • MIB (Medical Insurance Bureau)
  • RX (pharmacy records)
$50,000 - $1,000,000
2 - 4 weeks
  • MVR (Motor Vehicle  records)
  • MIB (Medical Insurance Bureau)
  • RX (pharmacy records)
$50,000 - $249,999
1 - 2 weeks
  • MVR (Motor Vehicle  records)
  • MIB (Medical Insurance Bureau)
  • RX (pharmacy records)
$50,000 - $250,000

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Get a Quote

No Exam Life Insurance Quotes

American National

American National Insurance Company (ANICO), founded in 1905 in Galveston, Texas, provides a wide range of no medical exam life insurance products. American National has a tremendous reputation among life companies. Forbes Magazine named them one of the "100 Most Trustworthy Companies" for 2009 and 2017.

ANICO Signature Term Express
  • Available for ages 18 to 65
  • Coverage from $50,000 to $250,000
  • Term lengths: 10, 15, 20, and 30 years
  • Accelerated benefit riders for terminal illness, chronic illness, and critical illness
  • 48-72 hour turnaround on approvals
  • Level Premiums guaranteed
  • Convertible into permanent life insurance
Assurity Life Insurance Company

Assurity Life, founded in 1890, is headquartered in Lincoln, Nebraska. Assurity makes a sound commitment to good corporate citizenship. In fact, the eco-conscious Assurity Center building was the first large building in Lincoln to receive Leadership in Energy and Environmental Design (LEED) Gold Certification. The Lincoln Human Resource Management Association (LHRM) named the company one of “Lincoln’s Best Places to Work 2017.”

LifeScape NonMed Term 350
  • Available for ages 18 to 65
  • Coverage amounts from $50,000-$350,000.
  • Term lengths: 10, 15, 20, and 30 years
  • Critical Illness Benefit rider available
  • Convertible into a permanent policy up to age 65
  • No exam needed but requires a detailed medical questionnaire
Fidelity Life Insurance

Fidelity Life, founded in 1896, continues to innovate within the life insurance industry. Their flagship RAPIDecision® Life product is a hybrid no exam policy. With application approval, policy could be issued in as few as 24 to 48 hours. The insured then has six months from the policy start date to take a medical exam. Some policy holders may be able to avoid a medical exam completely.

RAPIDecision Life
  • Available for ages 18 to 95
  • Coverages from $25,000 to $250,000
  • Term lengths: 10, 15, 20, and 30 years, depending on age
  • Renewable up to age 95
  • Hybrid policy may not require an exam
North American

Founded in 1886, North American Company is currently part of Sammons Financial Group. North American Company specializes in products requiring no medical exams. Insuring high-risk customers with medical issues is one of their specialties.

ADDvantage® Term
  • Available for ages 50 and under
  • Coverages from $50,000 to $500,000
  • Term lengths: 15, 20, and 30 years
  • 72-hour turnaround on approvals
  • Multiple Rate Classification including Preferred Plus
Phoenix

Phoenix Life Insurance, founded in 1851, is based out of Hartford, Connecticut. Gratuitous life policy provider for President Abraham Lincoln, Phoenix has a long-time reputation of corporate benevolence that holds true still today.

Safe Harbor Term Express
  • Available for ages 18 through 80
  • Coverages from $50,000 to $500,000
  • Term lengths:10, 15, 20, and 30 years
  • Includes living benefits for critical illness, chronic illness, and terminal illness
  • Convertible 20-year term to a permanent policy within the first 10 years
  • Checks MVR, Medical Bureau Report, and pharmacy records during underwriting; medical records may also be requested
Sagicor

Sagicor is the second-oldest life insurance companies in the United States with more than 175 years of experience. Their term policies, even the no exam products, automatically come with unique riders at no extra cost.

Sage Term
  • Available for ages 18 to 65 years
  • Coverage from $50,000 to $500,000
  • Term lengths: 10, 15, or 20 years
  • Application takes 20 to 25 minutes to complete in many cases
  • One to seven-business-day turnaround for policies upon approval
Transamerica

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

Trendsetter LB
  • Available for ages 18 to 60 years
  • Coverage from $25,000 to $249,999
  • Term lengths:10, 15, 20, 25, and 30 years
  • Automatically included riders: Chronic Illness, Critical Illness, and Terminal Illness
  • Application takes as little as 30 to 40 minutes by phone
  • Up to 30-day turnaround for approvals
Mutual of Omaha

You may know Mutual of Omaha from the TV show “Wild Kingdom.” In the business since 1909, Mutual of Omaha has very competitive term products for seniors as well as no exam policies.

Term Life Express
  • Available for ages 18 to 65 years
  • Coverage from $25,000 to $300,000 (ages 18 to 50); $25,000 to $250,000 (ages 51 to 65)
  • Term lengths: 10, 15, 20, and 30 years
  • Automatically included riders: Terminal Illness, Chronic Illness, and Critical Illness, Residential Damage; Waiver of Premium for Unemployment, Common Carrier Death Benefit Provision
  • Application completion in as few as 20 to 25 minutes
  • 24-hour up to 10-day turnaround on issuance of policies, depending on medical questionnaire

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Who is No Medical Exam Life Insurance Best For?

  • Convenience shoppers such as online consumers who often prefer no exam life insurance policies because they are accessible via the internet. By eliminating the traditional two-month underwriting process, online shoppers can enjoy the ease of doing business with life insurance companies once again
  • Health conscious shoppers who have an excellent bill of health reap the benefits of accelerated underwriting by purchasing no exam term life insurance
  • Individuals who lead healthy lives and enjoy active lifestyles
  • Procrastinators who typically do not have the wherewithal to forego traditional buying processes and desire ease of use and communication

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What Other Options Are Available?

You have options.

The no exam policy may be the quickest way to find coverage, but there are other options. As exhibited above, there is a wide diversity of no exam policies. They continue to become more competitive, and each year, more life companies expand their offerings.

A no exam policy may fit your life needs, but there are other options, as well. If you are not in a rush or have other coverage and financial needs, it is worth discussing the full slate of life products available.

AM BEST FINANCIAL RANKINGS
  1. AM BEST A+ Protective
  2. AM BEST A+ Banner
  3. AM BEST A+ Prudential
  4. AM BEST A+ AIG
  5. AM BEST A+ Principal
  6. AM BEST A Ameritas
Traditional Term Life Insurance

Term insurance designed to cover specific periods of time remains the most competitive and affordable form of coverage. Young individuals who are in excellent health may purchase a no exam policy for immediate coverage but may want to apply for a traditional term policy as well.

For young and healthy individuals, a traditionally underwritten policy is usually more affordable. The coverage options may even expand with larger terms and more available riders to tailor the policies to the unique needs of life policy shoppers.

Permanent Life Insurance

Unlike term insurance, permanent insurance is a life product with no expiration date. Policy holders are covered literally until the end of their life. Permanent policies provide a wide range of flexibility because they are not just a life policy, but an investment product as well.

Within permanent insurance, a portion of the paid premiums accrues to create a bank of cash value. That bank of cash continues to grow during the insured’s lifetime and provides the policy holder with options term policies do not offer. When the accrual of cash value reaches a certain limit, the cash value of the policy can be used to pay the premiums on the policy for the remainder of the lifetime of the insured.

Policy holders can also use the cash value to finance other expenses they may encounter during life. It is not uncommon for clients to borrow against the cash on their policy to fund college tuition, home purchases, or even business ventures. In a sense, the insured becomes his or her own banker, borrowing from their own store of cash and paying it back, while it continues to accrue value over time.

The companies listed above may specialize in no exam policies, but they also have a full lineup of traditional policies as well. If you are looking for instant coverage, our agents can assist you with that, but you may also wish for help applying for a more traditional policy for a later date, as well.

How Do No Exam Life Insurance Premiums Work?

Depending on the type of no exam policy you choose (simplified or guaranteed issue, term or whole life), premiums may work in a few different ways.

First, some no medical exam term life insurance policies allow the insured to pay for the entire policy up front. This is a good option for someone who has the money to do so and wants to save some money in the long run, as life insurance companies offer discounts for people who pay in one lump sum.

You can also elect to pay your premiums annually instead of monthly on some policies, which saves you money as well. These savings vary by company but are usually worth looking into.

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What Types of No Exam Life Insurance Are Available?

Simplified Issue

Simplified issue life insurance policies do not require a medical exam, but they do require a medical questionnaire. The insurance company will use the questionnaire to determine eligibility before issuing a policy, and acceptability based on medical conditions will vary from company to company. This type of policy is more restrictive than other “no medical” policies because health will be used as an underwriting criterion.

Guaranteed Issue

Guaranteed issue life insurance policies do not require an exam, nor do they require the customer to complete a medical questionnaire. Because of the broad acceptability, guaranteed issue is the most expensive type of life insurance in terms of cost per thousand dollars of coverage. Our life insurance agents can determine if this category best fits an individual’s situation, shopping a wide variety of companies for the best pricing on their behalf.

Is No Exam Life Insurance Term or Whole Life?

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

Term life policies are a good option for an individual who needs more than $50,000 in coverage. Like all term policies, coverage is not permanent throughout a person’s lifespan, but only available for the term selected. Term is available in increments of 10-, 15-, 20-, or 30-year periods.

Whole life policies and permanent insurance policies cover an individual’s full life span. Coverage is available in smaller coverage amounts, usually maxing out between $25,000 to $250,000.

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How Does the Death Benefit Work for No Exam Policies?

When looking for a no medical exam life insurance policy, you want to be sure you find one with the right type of death benefits in order to best protect your family financially in the event of your death. There are a few types of death benefit payouts when it comes to no medical exam life insurance, and as an applicant, it is important you understand the different options available to make sure you end up with the right coverage.

Level Benefit

Level death benefits are usually applied to simplified issue life no medical exam insurance policies. This type of death benefit pays out the full death benefit of the policy to the policy holder’s beneficiaries immediately after death (once settlements have been made).

Graded Benefit

Graded death benefits are usually applied to guaranteed issue no medical exam life insurance policies. This type of death benefit is not paid out in full until a certain time period has expired after the purchase of the policy. This is designed to help life insurance companies mitigate the higher risk posed to them by high-risk applicants because guaranteed issue policies accept anyone.

While it is not the company’s intentions, no exam policies with graded benefits can harm unsuspecting policyholders. This time period of partial death benefits after the purchase of the policy typically lasts two to three years (depending on the company and policy). During this period of time, only a portion of the death benefit is paid out.

Modified Benefit

Modified benefit no medical exam life policies offer a middle ground between level and graded death benefits. In this type of policy, the same timeframe as graded benefits applies. However, in addition to partial death benefit payouts, part of or all of the premiums paid into the policy are paid out in the event of the insured’s death prior to the graded period being outlived.

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What Does a Life Insurance Exam Include?

A life insurance medical exam typically involves:

  • Identity verification
  • Medical questionnaire
  • Lifestyle questionnaire
  • Family history questionnaire

Also included in the life insurance application process are background checks, driving record checks, and prescription history checks. Life insurance companies get this information form secure, third-party sources and do not use your information for any other purpose than validating your current state of health. The reason life insurance companies do these additional checks is to ensure you are who you say you are and to determine your overall risk, which ultimately determines your life insurance premium.

Some traditional life insurance policies require both medical exams and these additional checks. These types of life insurance policies are called “fully underwritten” policies, which refers to the underwriting process, or the process of determining risk.

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Jonathan Holloway
October 2, 2019
John Holloway is a licensed life insurance agent and co-founder at NoExam.com
Disclaimer: We make every attempt to make sure our information is up to date, but since things change often it is best to double check the data. This review is an opinion. Clicking on links may result in NoExam.com being compensated.