Term Life Insurance Without Medical Exam or Health Questions
Let us help you to find the best life insurance company with no medical exam required!
Guaranteed Issue Life Insurance With No Medical Questions
It’s no secret that life insurance can be a hassle. The tedious forms, long wait times, and the obligatory medical exam often make it seem like too much trouble. If that’s why you’ve been putting off buying a policy, we have a great alternative for you: “no exam term life insurance".
What’s so great about these policies? For starters, you don’t need to take a medical exam, dramatically reducing the time it takes to get approved. In fact, you can buy the cheapest term life insurance with no exam policies over the phone or even online, with no waiting periods. Depending on the carrier, you might be approved in hours or days. That’s a big improvement over typical fully underwritten policies that can take weeks to process!
Before we go further, let’s talk about that medical exam. The examiner comes to your home or office and asks in-depth questions about your health, genetics, and lifestyle. They’ll collect blood and urine samples that will be tested for diabetes, high cholesterol, or other conditions that could affect your life expectancy. If your lab results reveal such a condition, the insurer may choose not to offer coverage…or offer a lower amount of coverage at a more expensive rate.
If that doesn’t sound appealing, you’re not alone. When it comes to term life insurance, no medical exam life insurance policies make it easy to get covered without the uncomfortable and time-consuming process of a medical exam.
Additionally, if you suffer from a pre-existing condition, you may assume you won’t qualify for coverage because of your medical history. Instead of going through the hassle of an exam only to be offered minimal coverage at a high rate, you can skip that process by applying with affordable life insurance without medical exam.
Quick Summary: No Exam Life Insurance Policies
- No medical exam life insurance companies provide policies that pay a death benefit if the insured person dies within the policy term (such as 10, 20, or 30 years).
- You can skip the paperwork, medical exams, and bloodwork. Just answer some key medical and lifestyle questions.
- You have the choice of either “guaranteed issue” or “simplified issue” policies. We’ll go over these in more detail below.
- There are age limits. Life insurance with no medical exam policies are generally for applicants up to 65 years old.
- These policies offer fast approval for qualified applicants. The best term life insurance no medical exam carriers put your coverage in place instantly (if you buy online) or within a few days (if they conduct a telephone interview).
- If you’re in excellent health, you’ll most likely qualify. But if you’re monitoring any health issue (even common things such as elevated cholesterol or blood pressure), success can vary.
- Be open and honest with your agent about your health situation. Let us compare the rates and underwriting guidelines of the nation's top-rated life insurance companies with no medical exam to find the right fit for your unique situation.
Read More Life Insurance Without Medical Exam Policies
In Depth: Two Types of No Medical Exam Life Insurance
Type 1: Simplified Issue
As expected, this type of coverage doesn’t require a medical exam. However, the best no medical exam life insurance companies will ask in-depth questions about your medical history and request to review your medical records. If you have chronic or serious health issues – such as high cholesterol, elevated blood pressure, diabetes, cardiovascular disease, or cancer – you may not be offered coverage.
So what kinds of questions will the insurers ask? Here are the most common:
- Have you been diagnosed with a terminal illness?
- Do you smoke or use any form of tobacco?
- Have you been diagnosed with HIV or AIDS?
- Do you take any prescription medications? If so, for what?
- Any history of cancer, stroke, or heart issues?
- Any felonies, bankruptcies, or hazardous activities?
Type 2: Guaranteed Issue
Guaranteed issue policies provide lower amounts of coverage than simplified issue or traditional life insurance. You may also hear them referred to as "final expense" policies, designed to provide a minimum amount of protection to pay for funeral and final medical expenses.
These policies don’t require a medical exam, nor does the insurance company review your medical records. As a result, they generally cost more than simplified issue. One caveat with guaranteed issue is that your policy may only pay a graded benefit. This means that if you pass away within one or two years of the policy’s issue date, some no medical exam life insurance companies will only pay out a portion of the death benefit.
When you apply for guaranteed issue life insurance with no exam coverage, you might not have to answer any health questions. Every company has their own underwriting guidelines, so you may see anywhere from zero to a handful or even a dozen questions on the application.
If you do have to answer health questions, they’ll be similar to these:
- Do you smoke or use any form of tobacco?
- Are you currently in a hospital or long-term care facility?
- Have you been diagnosed with AIDS or HIV?
- Have you been declared terminally ill by a physician?
Is No Exam Life Insurance Right for You?
Since the pandemic forced us all to do business without in-person events like a medical exam, there are more options available than ever before. However, without the hard data from your exam, the no medical exam life insurance companies are taking a greater risk to insure you. Your rate will depend entirely on your health and your answers to their questions.
As with all things insurance, there is no single best life insurance with no medical exam policy for everyone. But here are a few questions to ask to help you pinpoint the right type of coverage:
- Are you relatively healthy? Qualifying for life insurance, without a medical exam, is easier for younger, healthier applicants because they’re considered a lower risk for passing prematurely.
- Do you have a clean financial and driving record? If not, any issues on your financial records (such as bankruptcy) or driving violations (such as DUIs) will jeopardize your eligibility for no exam term life insurance.
- Do you have a deadline for obtaining coverage? As an example, we’ve helped divorcing applicants comply with a court order to provide income replacement for the child of a former marriage. That's accomplished in the form of a life insurance death benefit payout. If you need coverage fast, term life insurance with no exam is the way to go.
Ultimately, the best strategy is to work with your insurance agent. Let us shop around for the best life insurance without medical exam. Use the contact form at the top of this page to tell us how much coverage you need, and we’ll take it from there!
Why Term Life Insurance With No Medical Exam Is Popular
- Reason #1: Affordability. When it comes to term life insurance, no medical exam policies can be as affordable as traditional medically underwritten coverage. It’s become a competitive sector in the industry thanks to the pandemic, when we all had to do business without face-to-face encounters. In the past, no medical exam life insurance companies charged up to four times more for non-med polices than for traditional policies. Why? Because of the added risk the insurance carrier takes on by covering you. However, rates have dropped significantly in the past couple years, so it pays to shop around.
- Reason #2: Simplicity. We’re seeing more clients who value convenience, ease, and speed over cost. No medical exam life insurance companies are responding, offering more fast, contact-free ways to get covered. Non-med product availability is better than it’s been in years. At LifeQuote, our expert agents have years of experience finding the best no medical exam life insurance that meet our clients’ needs. So don’t wait! Take the first step with us today and get the peace of mind that comes from knowing your family’s financial future is secure.
How to Apply Affordable Life Insurance With No Medical Exam
- Get a Quote
First, see what kind of premiums you’ll be asked to pay over the course of your policy’s term. Use the contact form at the top of this page to send us a message and we’ll reach out to give you quotes specifically for term life insurance and no medical exam life insurance. - Submit Your Application
After we quote rates from top-rated no medical exam life insurance companies, it’s up to you to pick the one that best fits your needs and budget. Once you do, we’ll walk you through the application process step, by step. - Review the Policy Contract
If the insurer approves your application, they’ll send the policy contract for you and your agent to review. If you shop with us, we’ll act as the point of communication between you and the insurance company to make the process as simple as possible. - Sign the Contract & Pay the First Premium
If the contract looks good, just sign the contract and send payment for the first premium. Don’t worry, we’ll help with that too!
No Medical Exam Term Life Insurance Companies
Assurity
With more than a century of providing life insurance coverage and an AM Best Company rating of A (excellent), Assurity Life Insurance Company is a front runner when it comes to their term life insurance no exam products. One of their most popular options is called “Non-Med Term 350,” available to clients aged 18-65 and offers up to $350,000 in coverage.
Legal and General (Banner)
Legal and General Life Insurance Company offers competitive no exam options with accelerated underwriting products for up to $500,000 in coverage for clients between the ages of 20 and 50. Qualifying applicants can be approved by the next business day, with the same quick turnaround for policy activation. This makes them one of our most-recommended no medical exam term life insurance companies.
The Principal Financial Group
Principal Financial Group exclusively serves business-owning customers. With strong financial ratings of A- and quick underwriting, they offer term life insurance, no medical exam, in face amounts that lead the industry - up to $1 million for individuals. They offer competitive pricing and have an accelerated underwriting program that offers approval in two days or less.
Sagicor Life Insurance Company
Sagicor is known for its fast approval times, in as little as minutes. Plus, they offer non-med coverage for those with diabetes. Their newest product, Peace Assured, provides whole life coverage with locked-in rates and no exams. It guarantees benefits are paid within a few days after confirmation of the insured’s passing – no graded benefits. This ranks them among the best term life insurance no medical exam providers in terms of ease and speed.
Savings Bank Life Insurance (SBLI)
Savings Bank Life Insurance is another leader in the market for term life insurance, no medical exam, thanks to their new accelerated underwriting product. The company’s innovative Guaranteed Level Premium Term policy offers term lengths of up to 30 years with up to $500,000 in coverage for applicants between the ages of 18 and 60.
