[{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/www.easyquotes4you.com\/a-guide-to-no-exam-life-insurance\/#BlogPosting","mainEntityOfPage":"https:\/\/www.easyquotes4you.com\/a-guide-to-no-exam-life-insurance\/","headline":"The Ultimate Guide to No Exam Life Insurance","name":"The Ultimate Guide to No Exam Life Insurance","description":"Quick Navigation Links Show 1 No Exam Life Insurance 2 Understanding No Exam Life Insurance 3 Types of No Exam Life Insurance 4 Guaranteed Issue Whole Life 5 Graded Death Benefit 6 Final Expense\/Burial Insurance 7 Accelerated Underwriting No Exam Life Insurance 8 The Best 13 No Exam Life Insurance Companies 9 Lets Look In.. 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No Exam Life InsuranceIf you ask most consumers, the most aggravating part of buying life insurance is having to take the medical exam. It can be inconvenient and intrusive to free up time for a stranger to come by and ask a bunch of personal questions.The good news is that now a lot of life insurance companies have no exam life insurance policies and they can be quite affordable. They offer both permanent life insurance and term life insurance without having to take an exam.In this article, we will review:The different types of no medical exam life insurance.The best no exam life insurance companiesHow to qualifyThe pro\u2019s and con\u2019s compared to policies that require examsWho it fit\u2019s bestUnderstanding No Exam Life InsuranceFirst, and probably most important, a no medical exam life insurance policy doesn\u2019t always mean \u201cGuaranteed Issue\u201c.Even though some companies offer products that don\u2019t require an exam, they still underwrite these policies and still can decline based on past health history and medications prescribed.There are different types of no medical exam life insurance. Some are guaranteed issue and others require no exam, but are still underwritten by the insurance company.Types of No Exam Life InsuranceThere are three types of no medical exam life insurance offered. It\u2019s important to understand the basics of each before making a decision to purchase. All of them have different underwriting standards, age requirements, and maximum death benefits.Guaranteed Issue Whole LifeJust like the name sounds, these policies are guaranteed issue. There are no health questions and everyone is approved, even someone considered to be uninsurable.Guaranteed issue policies have face amounts ranging from $5,000 to $25,000. Most if not all have a two-year waiting period, which means if the insured passes away in the first two years from sickness, you would only receive the premium paid in plus interest. If death is by accident in the first two years or any death after two years, then the full benefit is paid out.These types of policies are the most expensive no-medical exam life insurance on the market because of the risk associated with the applicants.Approval for these types of policies usually take about 24 hours and sometimes can just take minutes depending on the insurance carrier.AARP and\u00a0Globe Life\u00a0are big players in this arena, and you probably have received post cards in the mail marketing these types of products.Graded Death BenefitA graded death benefit whole life policy is not guaranteed issue like above. Although it is not guaranteed issue, most policies only ask a few health questions.The death benefit payout is similar to the guaranteed issue policies in that though don\u2019t pay full amount for first two years. The difference is they pay a graded amount or percentage of the death benefit.For example, if you had a $50,000 graded death benefit, the payout would look like this:If death occurred in the first year, your beneficiary would receive 25% of the death benefit or $12,500.If death occurred in the second year, your beneficiary would receive 75% of the death benefit or $37,500.The full death benefit is paid out if death is due by an accident in the first two years and is paid in full on any death after two years.The maximum face amounts allowed is $50,000. These policies are a great option for consumers who have had health problems in the past but have them under control now.Final Expense\/Burial InsuranceFinal Expense or sometimes referred to burial insurance is a no-medical exam life insurance that has to be qualified for. There is series of health questions asked to determine if you qualify for coverage.This type of insurance is meant to cover expenses that are associated with the insured dying, such as funeral expenses, credit debt, or medical bills.These polices have death benefits as low as $10,000 with a maximum of $50,000. Since these polices are geared towards expenses incurred by a death, they last for your entire life, unlike a term policy.Accelerated Underwriting No Exam Life InsuranceThese types of policies are your more traditional life insurance policies, with the exception that you don\u2019t have to do a para-medical exam.Even though you don\u2019t have to do an exam, medical questions are asked, background checks are performed along with a prescription check. This allows the company to assess the risk and decide whether or not to accept the coverage.You can purchase term life and permanent life insurance with accelerated underwriting no medical exam life insurance. This is a great alternative to mortgage protection insurance.The maximum face amounts allowed are much higher than the other no exam life insurance polices, with most maxing out at $250,000 and a handful of companies will issue without an exam up to 1 million.In the last few years these types of policies have actually gotten less expensive and usually aren\u2019t but a few dollars more than a traditional life policy requiring an exam. Unless you are in perfect health, it may not cost you not to do an exam like in the past.The Best 13 No Exam Life Insurance CompaniesYou are probably wondering how we came up with this list. We are an insurance brokerage who are licensed with over 40 different insurance carriers, all of which are on this list. We do not recommend any company that we don\u2019t do business with. We also understand that everyone\u2019s situation is unique and what might fit one person is a good fit for another. Always do your due-diligence when looking at purchasing life insurance. The three components that we looked at before choosing our 13 best life insurance companies are:Cost\u2013 Some companies no medical exam life insurance products can be a bit pricey, especially compared a traditionally underwritten policy requiring an exam. It\u2019s important to get multiple quotes to weigh the pros and cons of not doing an exam.Financial Strength\u2013 This is as important as cost. You want a strong financial company so when it comes time to pay a claim, they are able to.Convenience\u2013 The whole idea of not having to do an exam is the convenience it allows. Some companies like to do lengthy phone interviews which kind of defeats the whole idea. We chose the companies with the less time-consuming process.Now that we know the different types of no-medical exam life insurance policies, and the three components that went into our thought process when choosing, let\u2019s look at the insurance companies leading the industry:Lets Look In Depth at the Best No Exam Life Insurance CompaniesHaven LifeThe one of the most unique no-medical exam life insurance companies is Haven Life.Haven Life understands you are busy and have streamlined the process to be as fast and smooth as possible. The term rates at Haven Life are among the most competitive out there.Haven Life stands out because you can purchase the coverage without ever speaking to an agent or customer service representative.Haven Life writes face amounts of up to 1 million without requiring a medical exam on their term life policies. This is the highest amount offered by the no-medical exam life insurance companies. Haven Life is owned by MassMutual which has been selling insurance for over 160 years.Haven Life FinancialsEven though Haven Life hasn\u2019t been around as long as some companies, they still have strong ratings. A.M. Best gives them an A++ which is excellent financial outlook.How Can I Apply for Haven Life?Haven Life has a simple online application process which can be completed in minutes. You will need to answer some health questions so be prepared. Sometimes approval is within minutes.Mutual of Omaha (MOO)Mutual of Omaha (MOO) is a very recognizable life insurance carrier, but most don\u2019t know they have a no medical life insurance policy.MOO offers a non-med term policy along with a whole life policy. Their term policy offers coverage with no exam up to age 74 with $100,000 being the maximum face amount allowed.MOO whole life policy is a guaranteed issue policy with a maximum face amount of $10,000. You can only buy this policy if you are between the age of 45-85 years old.Transamerica LifeIf you watch television then you have probably seen a commercial about Transamerica Life. Transamerica is a top rated company, and one of the first companies to offer no-medical exam life insurance.They offer a term life and a term life with living benefits without requiring an exam. Their coverage starts as low as $50,000 with a maximum of $250,000. Issue ages are 18-64 years of age.Transamerica also offers a simplified issue whole life policy for consumers 45-80 years of age. You can purchase any amount up to $50,000, buy answering a few health questions.Sagicor LifeThere is a good chance you haven\u2019t heard of Sagicor Life, but don\u2019t let that deter you. They are one of the best no medical life insurance companies around.They offer term and universal life products without an exam, and have a strong reputation for their competitive underwriting & rates.Sagicor\u2019s no exam\u00a0 life insurance products offer face amounts starting at $25,000 and up to $1 million depending on your age.Sagicor\u2019s underwriting process is simple, quick, and usually an accept\/decline answer. Only healthy consumers should apply here. Completing an application can take less than 15 minutes and done over the phone.Phoenix LifeWith Phoenix Life\u2019s Safe Harbor Term Express you can get up to $500,000 of death protection within days. They also offer a living benefits rider, which allows you to access death benefit early if critically ill, is what attracts most consumers.While we do have Phoenix Life on our top 13 list, they do carry a \u201cB\u201d rating with A.M. Best. This can be a little concerning, so they have to be a perfect fit before we recommend.American National (ANICO)American National offers term, whole life, and universal life up to $250,000 without an exam required. American National no exam life insurance offers competitive rates and get approved in as little as three days.American National has been doing business since 1905 and is a highly rated life insurance company with an \u201cA\u201d rating with A.M. Best.We highly recommend looking at American National for you life insurance needs.North American for Life and HealthNorth American entered the insurance business in 1886, now holding over $13 billion in assets. They hold \u201cA\u201d ratings from all 3 rating agencies.North American\u2019s non exam life insurance product portfolio now includes their term and universal life products. With highly competitive rates and possible the best universal life products offered, you will definitely want to look at North American.Fidelity LifeFidelity Life has been around since 1896 and carries an \u201cA-\u201d rating with A.M. Best which means a very strong financial outlook.Fidelity Life offers two no medical exam life insurance policies, Rapid Decision Term and Rapid Decision Senior Term.Issue age for the Rapid Decision Term is 18-50 years of age with face amounts up to $500,000. This term comes with lengths of 10-30 years.The Rapid Decision Senior Term is offered to seniors age 50-70 years of age without an exam. Term lengths range from 10-30 years depending on your age. You can purchase up to $150,000 of death protections.Gerber LifeThis is a life insurance company everyone has heard of. They are known for their \u201cGerber Start-Up Plan\u201d, but are also very competitive in the no-medical exam life insurance arena.Gerber has a simplified issue term and whole life policy that requires answers to a few health questions. They offer face amounts up to $50,000.Gerber also has guaranteed issue whole life product that asks no health questions at all. As long as you are between the age of 50-80 and want less than $25,000 of death protection, you are approved.Assurity LifeAssurity is a strong financial company with an \u201cA\u201d rating with A.M. Best. They offer exceptional customer service with innovative underwriting techniques.Assurity offers no exam life insurance up to $500,000 till age 55 and up to $350,000 ages 56-65. Assurity rates are competitive with all the major carriers.They also offer a simplified issue policy for ages 50-85 with face amounts up to $50,000 depending on your age.Principal Financial GroupPrincipal Financial Group is another company with superior ratings from all three credit agencies. Their strong financial outlook makes them a favorite among consumers.Principal created the accelerated underwriting program, but not before doing extensive studies showing around 50% of applicants have a good health outlook. This is the reason they eliminated the requirement of an exam.Their program offers no exam life insurance between the ages of 18-60 and you can apply for up to 1 million of coverage.Foresters FinancialForesters boasts high rankings from all the rating agencies. They are fraternal organization, which means their policies (also called certificates) comes with added bells and whistles that most other insurance policies just don\u2019t offer.For example, all Foresters certificates come with the Charity Benefit Provision at no extra cost. With this benefit, Foresters will pay 1% of the death benefit to the charity of your choice.Foresters has a great simplified issue whole life (called PlanRight) with face amounts up to $30,000. The policy does ask a few health questions, but has lenient underwriting.They also have a no medical term life policy (called YourTerm). Issue ages for YourTerm is 18-80 and max of $400,000 in life insurance with no exam required.American AmicableAmerican Amicable has been doing business since 1910, and have an \u201cA\u201d rating with A.M. Best.American Amicable offers a no-medical term life policy (called Term Made Simple) that offers range from $50,000 up to $400,000 with term lengths from 10-30 years. Issue ages are from 18-75.Because of the late application age of 75, American Amicable is great company for seniors to look for term life insurance with very competitive rates.No Medical Exam Life Insurance Sample RatesBelow is a chart showing the costs of different polices and amounts of insurance.No Medical Exam Term Life QuotesQuotes are based on $100,000 death benefit with a standard health rateNo-Medical Exam Permanent Life QuotesCommon Mistakes Made When Buying No-Medical Exam Life InsuranceThroughout the years, we have come across a lot of mistakes made by consumers when purchasing life insurance. No medical exam life insurance is a unique type of coverage, which can lead to mistakes being made. These listed below you will want to try to avoid:Not shopping around and comparing companiesSettling for the first companyAssuming all policies are the samePaying too much for the coverageAcquiring the best no-medical exam life insurance can be a daunting challenge, but it doesn\u2019t have to be. We are here to help you avoid costly mistakes and get the best policy for you.Who is No Exam Life Insurance Best For?We have outlined four reasons why no-medical exam life insurance may be best for you.\u00a0If you are looking for something convenient or just don\u2019t have time for an exam, then no-medical exam life insurance if for you. Purchasing a policy like this keeps you from having to jump through underwriting hoops and waste time on an exam.If you are the type of person that hates getting stuck by a needle or peeing in a cup then you will want to go with a no-medical exam life insurance policy.If you are needing the coverage fast then a no-medical exam life insurance policy is the answer. Some policies can be issued in less than 24 hours compared to 4-8 weeks with a policy requiring an exam.If you haven\u2019t seen a doctor in 2-5 years and don\u2019t know how an exam would come back, then you will want to purchase a no-medical exam life insurance policy. You can always apply for a policy fully underwritten but we always recommend getting the no medical exam life insurance in place first. This protects you if your blood work does come back bad, they cannot take the no-med policy away.We have gotten many questions about no exam life insurance for consumers 50 and above. Many assume that it\u2019s just not possible, but that just isn\u2019t true. Some no medical exam life insurance policies are available up to age 65 for amounts above $50,000 and up to age 75 for below $50,000.What are the Qualifications for a No Medical Exam Life Insurance PolicyIf you would consider your health as excellent, meaning you are taking no medications and haven\u2019t had any major illness in your lifetime, then a no medical exam life insurance policy might not be best for you.If you have a health issue that is under control and being monitored by a physician then a no medical exam life insurance policy may be an option.You being accepted for coverage is still based on your overall health. This will be combination of the following:Health Questions on the ApplicationMedical Information Bureau (MIB) ReportPrescription CheckMotor Vehicle ReportMost no medical exam life insurance carriers will check all of these reports to verify your answers on an application. Here are some of the questions that are asked:Have you been diagnosed with an illness with a life expectancy of 24 month or lessAre you a smokerHave you been diagnosed with HIV\/AIDSYour height and weightAre you diabeticWhat prescriptions you takeAny history, including family history, of cancer, stroke, or heart attackHave you ever filed for bankruptcyDo you participate in hazardous activities, such as rock climbing, hang gliding, or drag-racing.Have you been convicted of any felonies or on probationAs you can see you will not be able to sneak anything through and any experienced agent will be able to recommend the right no exam life insurance policy for you.Pros of No Exam Life InsuranceFast and easy life insurance coverageNo exam, blood, or urine requiredFew health questions and some types have no medical questionsCons of No Exam Life InsuranceThe cost is higher than a fully underwritten life insurance policyThe maximum coverage amounts range from $50,000 for some policies to $500,000 for othersIf you are in great health with normal labs and ideal height and weight then a fully underwritten policy will be bestOur ThoughtsPurchasing a life insurance policy is a big decision and nobody wants to pay more than they should. With that said, it\u2019s always best to look at all options, no medical exam life insurance and fully underwritten life insurance, before making any decisions. It\u2019s best to know what each is going to cost so you can make an informed decision. Working with an independent agent will give access to all the top insurance carriers, which will save you time in the long run. If you have any questions or need a quote run please click here.\u00a0Frequently Asked Questions\t\t\t\t\t\tWhat is no exam life insurance?\t\t\t\t\t\t\t\t\t\t\t\t\t\tNo exam life insurance is when a life insurance company doesn\u2019t require an exam in order to purchase life insurance. It\u2019s important to understand that no exam doesn\u2019t mean guaranteed issued. No exam life insurance does ask health questions, do script checks, history checks, and order doctor records if deemed necessary.\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tWhat are the different types of no exam life insurance?\t\t\t\t\t\t\t\t\t\t\t\t\t\tTheir are 3 types of no exam life insurance. They are:-Accelerated Underwriting: Similar to traditional underwriting in that they ask health questions but no exam is required.-Simplified Issue: These policies ask few health questions and allow most health conditions if enough time has passed.-Guaranteed Issue: No health questions at all. Everyone is approved. Does come with some exclusions the first 2 years.\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tWhat are the cons of no exam life insurance?\t\t\t\t\t\t\t\t\t\t\t\t\t\tThe cons of no exam life insurance are:-The cost is higher than a fully underwritten life insurance policy-The maximum coverage amounts range from $50,000 for some policies to $500,000 for others-If you are in great health with normal labs and ideal height and weight then a fully underwritten policy will be best \t\t\t\t\t\t\t\t\t\t\t\t\t\t\tWhat are the pros of no exam life insurance?\t\t\t\t\t\t\t\t\t\t\t\t\t\tThe pros of no exam life insurance are: -Fast and easy life insurance coverage -No exam, blood, or urine required -Few health questions and some types have no medical questions \t\t\t\t\t\t\t\t\t\t{\t\t\"@context\": \"https:\/\/schema.org\",\t\t\"@type\": \"FAQPage\",\t\t\"mainEntity\": [\t\t\t\t\t{\t\t\t\t\"@type\": \"Question\",\t\t\t\t\"name\": \"What is no exam life insurance?\",\t\t\t\t\"acceptedAnswer\": {\t\t\t\t\t\"@type\": \"Answer\",\t\t\t\t\t\"text\": \"No exam life insurance is when a life insurance company doesn't require an exam in order to purchase life insurance. 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Does come with some exclusions the first 2 years.\"\t\t\t\t\t\t\t\t\t}\t\t\t}\t\t\t,\t\t\t\t{\t\t\t\t\"@type\": \"Question\",\t\t\t\t\"name\": \"What are the cons of no exam life insurance?\",\t\t\t\t\"acceptedAnswer\": {\t\t\t\t\t\"@type\": \"Answer\",\t\t\t\t\t\"text\": \"The cons of no exam life insurance are:-The cost is higher than a fully underwritten life insurance policy-The maximum coverage amounts range from $50,000 for some policies to $500,000 for others-If you are in great health with normal labs and ideal height and weight then a fully underwritten policy will be best \"\t\t\t\t\t\t\t\t\t}\t\t\t}\t\t\t,\t\t\t\t{\t\t\t\t\"@type\": \"Question\",\t\t\t\t\"name\": \"What are the pros of no exam life insurance?\",\t\t\t\t\"acceptedAnswer\": {\t\t\t\t\t\"@type\": \"Answer\",\t\t\t\t\t\"text\": \"The pros of no exam life insurance are: -Fast and easy life insurance coverage -No exam, blood, or urine required -Few health questions and some types have no medical questions \"\t\t\t\t\t\t\t\t\t}\t\t\t}\t\t\t\t\t\t]\t}"},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"The Ultimate Guide to No Exam Life Insurance","item":"https:\/\/www.easyquotes4you.com\/a-guide-to-no-exam-life-insurance\/#breadcrumbitem"}]}]