No-medical-exam Life Insurance

Do you think you are ineligible for life insurance based on a pre-existing condition or age? Learn more about how no medical exam life insurance works.

Life insurance is a contract between an insurance company and you in the event you pass away, and a death benefit is paid out to your selected beneficiaries. Life insurance is a premium that you pay monthly or upfront premiums annually. Life insurance is an important investment so that you can protect your spouse or children from a potentially devastating loss. It provides financial security to help pay off debts, living expenses, and any remaining medical or final expenses.

Most insurance policies require a medical exam to assess the risk and assign a premium. If you have a medical condition that may make you seem risky, you might think life insurance is unavailable. However, life insurance options are available that do not require a medical exam.

Introduction to No Medical Exam Life Insurance

No medical exam life insurance is an option for life insurance benefits that allows you to obtain coverage and skip getting a medical exam. The medical exam would be a visit to the doctor to do an overall review of your health and identify any pre-existing conditions and assess any potential health risks.

Although there is no medical exam required for these types of life insurance, they will still likely ask you about your health. They may request access to your medical questions or interview you on your health in a way to determine your health risk and set your premium for life insurance.

How Much Does No Medical Exam Life Insurance Cost?

The costs of no medical exam life insurance vary depending on your needs and the requirements for the different insurers. The deciding factors can be your age, your answers to your medical questions, the type of policy, and how much coverage you may need. Premiums for no medical exam life insurance tend to be a little higher than regular life insurance due to the likely higher risks associated with the insurers. If you qualify for a standard policy, that may be the best route when shopping around for life insurance.

Who Qualifies for No Medical Exam Life Insurance?

There are hundreds of life insurance companies to choose from, and each one evaluates you differently. The eligibility varies by provider, and life insurance is available for anyone. The variety of sizes and types of insurance policies makes it easier for you to find one that fits your needs. 

Life insurance companies that offer no medical exam life insurance will assess your qualification based on questionnaires, existing data from your medical or prescription history, and previous health exams. Other factors may include lifestyle choices such as smoking, drinking, or high-risk hobbies, usually leading to higher rates. The younger and healthier you are, the more likely you will qualify for more options. 

How to Buy No Medical Exam Life Insurance

Purchasing a no exam life insurance takes time and shopping to find the right one based on your condition. An insurance policy could still deny you coverage based on information uncovered through the preliminary process.

There are ways to avoid being denied life insurance. Working directly with an independent insurance agent can help you shop around as the experts in the field to find the right policy for your condition. These insurance agents will have access to many policies from a wide selection of insurance companies.

One other option is to look into guaranteed issue life insurance which ensures anyone who applies is approved as they do not ask health questions. The only downside to this insurance is the coverage is lower, and the premiums are higher. There is often a delayed coverage period of 2 to 3 years before coverage kicks in. 

The Best No Medical Exam Life Insurance Plans of 2022

No exam life insurance is worth looking into if you are older, have any chronic health conditions, or need a policy fast. Insurers are taking a risk with not performing a medical exam, and the premiums will be higher than the standard life insurance policies. If you think you are uninsurable, the no medical exam life insurance policy may be the best choice for you. Here are 4 of the best no medical exam life insurance companies to get you started.

  1. Nationwide

Nationwide offers whole life insurance and is excellent as anyone under the age of 80 can apply. The coverage provided is $10,000 and up to $50,000. With term insurance, you can buy coverage in 10-, 15-, 20-, or 30-year increments, which at any time can be converted into permanent life insurance at the end of the term. An accelerated death benefit allows you to withdraw funds if you become terminally ill, and Nationwide will enable you to cover your children.

  1. American family

American Family is a great life insurance company to opt for if you only want smaller coverage amounts. They offer whole life and term insurance policy types. The whole life insurance is available for ages 50 to 80, and the coverage is $10,000 or $15,000. For the term life insurance, anyone from ages 18 to 60 can apply and receive coverage from 50,000 to $150,000.

  1. Haven Life 

Haven Life offers Term life insurance for ages 20 to 55 with coverage available of $25,000 to $500,000. The application process is made easy with a quick 25-minute application and no medical exam, although they may ask you medical questions. The application uses artificial intelligence to evaluate you quickly and provide you with health insurance within the same day.

  1. AARP

AARP offers term and whole life insurance with added benefits for AARP members. Some applicants have to answer health quests, but no medical exam is required. The whole life insurance policy is available for members ages 50 to 80, and their spouse can apply from ages 45 to 80, and coverage is Up to $25,000. While the term life insurance allows members 50 to 74 to apply and their spouses are eligible from 45 to 74, and coverage is $10,000 to $100,000.