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No-exam life insurance has the obvious appeal of skipping medical exams, but don’t get the wrong idea. Don’t conflate no medical exam with no medical history. Even the most liberal underwriters evaluate risk based on preexisting medical conditions and other known risk factors. So as an applicant, you might answer many of the same questions you would for a standard life insurance policy.
You just don’t have to set aside time to check your blood pressure, cholesterol, and other health markers with a licensed medical professional. For older applicants, this could mean skipping more invasive tests like an EKG. We’re here to clear up common misconceptions and help consumers find the best no medical exam life insurance options.
Best online resources: Haven Life
Best for senior applicants: AARP
Best for military members: USAA
Best for higher policy limits: Prudential
Best term life policy: Ethos Life
Best for guaranteed acceptance: Mutual of Omaha
Best for waiting periods: AAA
Who is no medical exam life insurance meant for?
A no medical exam life insurance policy may hold a certain appeal for older applicants and those in failing health. However, the life insurance market is the opposite of what you might expect. These policies are best for young people (typically under 50 years old) in good health. The no medical exam process is often more efficient, streamlining your approval, and life insurance companies can only do this with low-risk applicants.
If a provider sees red flags that might disqualify you, it won’t necessarily prevent you from getting coverage. Instead, the agent would most likely offer to run more conventional life insurance quotes for you.
What types of no medical exam life insurance can I get?
Many no medical exam life policies share the obvious features of no medical exams, faster underwriting, and higher premiums for lower benefits. Exceptions apply depending on the insurer. Even within this type of life insurance, providers offer different plans.
Accelerated underwriting life insurance
Accelerated underwriting may seem like a given with no medical exam life insurance. To some degree, it is. This type of life insurance policy uses electronic resources to gather information and run algorithms to evaluate risk. This system then sets your coverage and premiums.
While the sources could expand in the future, accelerated underwriting uses a few basic things: criminal records, prescription drug records, and motor vehicle records. All of this creates a risk profile used to bind policies. Because of public records information, the pricing on this type of no medical exam life insurance is most likely comparable to standard life policies. Depending on the available information and other factors, this underwriting process could take longer than a traditional medical exam life policy.
Simplified issue life insurance
Simplified issue life insurance streamlines the underwriting process with no medical exam. Instead, applicants answer a few basic health questions. This policy type will be more expensive for less coverage later on. Companies are taking a more considerable risk by not going through a thorough underwriting process with extra verification. So the premium rises to counterbalance the risk.
Guaranteed issue insurance
Think of this as the life insurance automatically purchased by your employer. It could also be a life policy offered by your bank or credit union. Payouts are small. Generally, these policies cover death benefits like funeral costs and a small allowance for family members after death. As the name suggests, applicants will not be denied. One thing to keep in mind is these policies often use a graded death benefit. In other words, your chosen beneficiary will not get the full benefit if you pass away within the first year after binding the policy.
Compare the best no medical exam life insurance
Best online resources: Haven Life
Haven Life offers term policies for healthy adults with limits as high as $3 million. For adults who prefer to avoid a medical exam, the limit is $500,000. The Haven Simple no medical exam policy is available in all states except California, Delaware, South Dakota, North Dakota, and New York. All applications are filed online. Accelerated death benefits are available with this policy if you become disabled, and riders can be added to eliminate future payment obligations if you become disabled.
Health questions: YesCoverage limits: Up to $500,000Age: 20-55Waiting period: Two yearsUnique feature: Accelerated death benefits available with paperless processing
Best for senior applicants: AARP
AARP caters to senior clients for insurance and many other financial products. Older adults between 50 and 74 may qualify as long as they are AARP members. Term policies are available with limits up to $150,000 in most states. Montana and New York residents may be eligible for up to $100,000. Whole life policy limits max out at $25,000. Whole life policies can be issued without any health exams or medical questions. The term policies, on the other hand, may ask some health questions.
Health questions: For term life policies, but not wholeCoverage limits: Up to $150,000Age: 50-74Unique feature: No medical exam policy caters to older adults
Best for military members: USAA
Military members and their immediate family members may qualify for competitive banking, insurance, and other financial services through USAA Life Insurance. Pricing is lower, payouts are higher, and customer service is strong. Of course, these services are only available to military and qualifying family members. For the children of a deceased military member to use any USAA products, the military member would need to be signed up before their death.
Guaranteed whole life policies are available in 49 states, excluding Montana. Coverage is available from $2,000 to $25,000 with no medical exam or questions. Applicants who want higher coverage limits can explore medical exam policy options with a licensed agent.
Health questions: NoCoverage limits: Up to $25,000Age: 45-85Waiting period: Two yearsUnique feature: Below-market product costs available for military members and qualifying family
Best for higher policy limits: Prudential
Life Insurance offers up to $3 million in coverage for term life policies. Adults up to 60 years old are eligible for coverage with a short application involving some medical questions. For younger applicants, conversion options may also be available later to make term policies into whole life policies. However, due to the higher limits, Prudential’s application process may also be longer.
Health questions: YesCoverage limits: Up to $3 millionAge: 20-60Waiting period: Two yearsUnique feature: High expert and customer rankings with a trusted provider
Best term life policy: Ethos Life
One of the benefits of term life insurance is lower premiums for higher coverage. No medical exam life insurance is no exception. Like no medical exam policies, term policies are geared toward younger applicants looking to save money. Ethos Life accepts applicants up to age 65 with a 100% online application process. Limits are as high as $2 million.
Ethos Life asks a few basic medical questions, but coverage is effective immediately once approved. In addition, every customer buying policies like this from Ethos Life is eligible for a 30-day look period, which is another way to say you can cancel and get your money back in the first 30 days with no penalties.
Health questions: YesCoverage limits: Up to $2 millionAge: 20-65Waiting period: May applyUnique feature: Instant quotes available with a streamlined online application
Best for guaranteed acceptance: Mutual of Omaha
Life Insurance has high financial stability and customer satisfaction ratings across different types of insurance. Guaranteed life policies are available for adults between the ages of 45 and 85. In New York state, the age range is 50-75. Policies can be as small as $2,000 in most states and as large as $25,000 with no health questions or medical exams.
Mutual of Omaha’s no medical exam policies have a graded death benefit. If you die within two years of the policy start date, the company will not pay the full policy. Instead, it delivers 110% of the premiums paid. The Mutual of Omaha website boasts same-day payouts on most policies. Policies for children are also available.
Health questions: NoCoverage limits: Up to $25,000Age: 45-85 (50-75 in New York State)Waiting period: Two yearsUnique feature: Company website lists same-day payment on most claims
Best for waiting periods: AAA
AAA offers immediate death benefits for qualified applicants between 18 and 75. In other words, once your policy starts, you are eligible for the full policy benefit. Policies are available with limits as low as $25,000 and as high as $500,000. While a medical exam is not required, health questions are.
AAA offers term policies with limits as high as $500,000. For a whole life policy, the limit is $25,000. But applicants can add a rider doubling the payout for accidental death coverage. Younger people have no waiting period for benefits. For applicants over age 45, AAA pays out 130% of the premiums paid up to the date of death for the first two years.
Health questions: YesCoverage limits: Up to $500,000 term/$25,000 wholeAge: 18-75Waiting period: Applies after age 45Unique feature: Death benefit available regardless of the cause of death
Best life insurance companies ranked by customer satisfaction
No medical exam life insurance may be enticing, but the process may be more complex than shoppers expect. Some companies issue policies without asking medical questions, but underwriting involves risk assessment. Whether due to age, prescription history, or other medical history, buyers should have life insurance alternatives involving a medical exam.
The following companies are the highest-ranked life insurance companies according to the 2022 J.D. Power U.S. Individual Life Insurance Study on overall customer satisfaction.
Life insurance companyJ.D. Power ranking out of 1,000 pointsState Farm Life Insurance839Life Insurance812Life Insurance801Northwestern Mutual Life794Pacific Life793Nationwide Life Insurance791Guardian Life Insurance787 Metlife Life Insurance786Life Insurance780New York Life Insurance775Life Insurance773Advisors Principal Life Insurance772Primerica Life Insurance766Life Insurance764Life Insurance759Securian Life Insurance754Midland National Life Insurance752John Hancock Life Insurance749Life Insurance744Life Insurance741Life Insurance740Life Insurance737
Why trust our recommendations?
Life insurance companies have introduced living benefits/accelerated death benefits and other options to use policies as investment tools. As the name suggests, death benefits do not pay until after the buyer’s death. Regardless, Personal Finance Insider knows how important it is to identify the right insurance company for your needs.
All insurance reviews and articles are fact-checked, and rates are checked at the time of our review. Our responsibility is to our readers, which means providing the most accurate information to guide you in the right direction. Our editor’s ratings are based on insurance guidelines, performance, and more.
Our methodology
The coverage and riders offered are vital parts of our evaluation. We also look at the speed of payouts, customer satisfaction, and financial strength ratings. All of these factor into the immediate and long-term performance of the life insurance companies we review.
If you’re looking for more information about a specific life insurer, our individual reviews offer a deep dive into individual policies, riders, and more. The same considerations are used for all competitors to ensure readers have the edge to make informed decisions in an ever-changing market.
How to pick the best life insurance policy for you
Particularly when choosing life insurance, customization is critical. Buyers don’t need to add every rider, but a little research goes a long way in selecting the right company. Some applicants will not qualify for a no medical exam life insurance policy. A life insurance agent can help you run quotes that make sense for you. Then agents can offer realistic insurance policy options and review the costs and benefits of each.
Asking friends and family which insurance agent they use could be your first step to finding the right life policy. Factors like age, medical history, and financial goals play key roles in your decision. So we do not recommend asking loved ones about individual policies. Instead, let a qualified insurance professional find the best policies for you.
FAQs
Is a no medical exam life insurance policy right for me?
No medical exam policies are easiest for young applicants with no significant health issues. Older applicants can buy with some companies, but acceptance is not guaranteed. If you do not qualify for the no medical exam policy you want, insurance agents can help you explore alternatives. No medical exam policies offer less coverage with higher premiums in most cases.
How can life insurance companies use my medical history with no medical exam?
No medical exam means life insurance companies will not check your blood pressure, cholesterol, etc. However, companies have access to prescription history and other personal records, and underwriters base decisions partly on this history.
Should I choose whole or term life policies with no medical exam?
The rules of term vs. whole life insurance policies are the same with no medical exam as it would be otherwise. A term policy has an expiration date, and extensions or conversions to a whole life policy are not guaranteed. If anything, your rate may be higher if you try to convert your policy. The insurer looks at you just as it would any other applicant of your age, health, etc. A whole life policy locks in premiums and payouts.
Are there alternatives to a no medical exam policy?
Insurance agents can quote you medical exam policies if you’re denied a no medical exam option. An experienced agent may be able to assess your application before starting the process to avoid official denials. If you’re concerned about premium limits, you can explore options like IUL (indexed universal life) for permanent life insurance that increases your benefit as long as you make premium payments.