Jeffrey Manola is an experienced life insurance agent and the founder of Top Quote Life Insurance. His mission when he created Top Quote Life Insurance was to provide online consumers searching for life insurance with the absolute best quotes for term life insurance, permanent life insurance, no medical exam life insurance, and burial insurance. Not only does he strive to provide you with the ...

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insur...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years

UPDATED: Feb 15, 2021

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As important as life insurance is to both families as well as businesses, it’s generally a topic that most people would rather not spend a lot of time discussing.

For most people, this also applies to the entire application process. So when we talk with a first-time life insurance buyer or even a repeat buyer, we never hesitate to bring up no exam life insurance coverage.

Why? Well, it provides excellent coverage, affordable rates, and has probably one of the easiest and quickest purchase processes.

When applying for traditional life insurance coverage, it can become a lengthy process. Even if you are a super healthy person, the approval time on a traditional policy can take a couple of weeks. One of the main reasons for lengthy approval is the medical exam.

When applying for traditional term life insurance coverage, one of the main steps of the application process is the medical exam.

The medical exam is required by the life insurance company to help them determine your overall risk of having to pay an early claim due to medical risk.

The less of a risk you are, the cheaper the premium, and the greater the risk, the higher the premium or possible decline.

All life insurance exams are provided free of charge by the insurance company you are applying with and are required. A licensed examiner will contact you to schedule a day to complete your exam that is often completed at either your home or, in some cases, your office if you prefer.

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Skip the Medical Exam and Consider No Exam Life Insurance

There’s a relatively popular new type of life insurance coverage out there, and it doesn’t require a medical exam, and you can be approved in as little as 15 minutes!

If you’re a busy person, a private person, or just someone who wants life insurance coverage, the quickest and easiest way that doesn’t require jumping through hoops, then let’s discuss the no medical exam life insurance option.

No exam life insurance may not be a perfect fit for everyone, but for most, it’s precisely what they are looking for when it’s time to purchase life insurance coverage.

Would the below meet your criteria when it comes to purchasing life insurance coverage?

  • No medical exam required to apply
  • Up to $500,000 of death benefit protection
  • Simple paperless application process
  • Possible same day approval
  • Affordable life insurance rates
  • Are between the ages of 18-65

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No Exam Life Insurance… What’s the Catch?

When it comes to no exam life insurance, a common question often asked is, “what’s the catch”?

In all honesty, the only catch is that you will pay a slightly higher premium than if you were to take a medical exam. So in all reality, you’re paying a little higher premium for the convenience in getting quick life insurance coverage without the hassle of having to schedule and take a medical exam.

No medical exam life insurance is exactly the same as traditional life insurance, except for the medical exam. Just like traditional term insurance, no exam coverage is fully underwritten coverage, and you can be declined. This coverage is not guaranteed approval.

Term Life Coverage from $25,000 up to $500,000

When the option to first purchase term life insurance coverage without a medical exam first became available, it was offered in smaller death benefit amounts, usually under $100,000.

Not only were death benefits limited to smaller coverage amounts, but also very few life insurance companies even offered it as an option.

With the growing popularity and demand for life insurance coverage that doesn’t require a medical exam, more and more life insurance companies have jumped on board by offering a simplified issue, no physical or non-medical exam life insurance option.

Along with more life insurance companies offering this type of coverage also came changes to the amount of coverage you can purchase without a medical exam.

You can now find several life insurance companies that will allow you to purchase up to $500,000 without a medical exam.

Although we would like to tell you that every company has jumped on board with no exam life insurance coverage, there are still many companies that do not offer it.

Below, we have put together some of the best no exam term life insurance companies currently available.

Best Instant Life Insurance
Companies of 2020

If you think no exam life insurance is the coverage you might be interested in exploring further, consider any one of the following companies that offer this type of coverage.

Each life insurance company below is highly recommended by Top Quote Life Insurance and considered to be one of the best in no exam life insurance coverage.

2020 Best Instant Life Insurance Companies

#1. ANICO
#2. Assurity
#3. Fidelity
#4. Minnesota Life
#5. Sagicor
#6. Transamerica

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American National Insurance Company (ANICO)

American National Life Insurance ANICO No Exam Life Insurance Coverage

  • Company Name: ANICO
  • Policy Name: ANICO Signature Term Express
  • A.M. Best’s Rating: A
  • Type of Policy: Simplified Issue No Medical Exam
  • Issue Ages: 18-65 (Depending on coverage length)
  • Term Lengths: 10, 15, 20 & 30 years
  • Health Classifications: Standard
  • Minimum Coverage Amount: $50,000
  • Maximum Coverage Amount: $250,000
  • Conversion Option to Permanent Coverage: Yes
  • Approval Time: 48-72 Hours

BONUS: Signature Express policies come with a free policy rider called Accelerated Benefit Rider. This rider allows for the option to obtain cash from the policy’s death benefit due to a qualifying terminal, critical or chronic illness.

Assurity Life Insurance

Assurity No Exam Life Insurance

  • Company Name: Assurity
  • Policy Name: Term Life with Accelerated Underwriting
  • A.M. Best’s Rating: A-
  • Type of Policy: Simplified Issue No Medical Exam
  • Issue Ages: 18-65 (Depending on coverage length)
  • Term Lengths: 10, 15, 20 & 30 years
  • Health Classifications: Preferred & Standard
  • Minimum Coverage Amount: $25,000
  • Maximum Coverage Amount: $500,000
  • Conversion Option to Permanent Coverage: Yes
  • Approval Time: Instant

BONUS: Term Life with Accelerated Underwriting by Assurity comes with a free accelerated benefit rider (living benefit). This rider pays a lump sum payment of the death benefit for a qualifying terminal illness or if permanently confined to a nursing home.

Fidelity Life Insurance

Fidelity No Exam Life Insurance

  • Company Name: Fidelity Life
  • Policy Name: Rapid Decision Express
  • A.M. Best’s Rating: A-
  • Type of Policy: Simplified Issue No Medical Exam
  • Issue Ages: 18-65 (Depending on coverage length)
  • Term Lengths: 10, 15, 20 & 30 years
  • Health Classifications: Standard
  • Minimum Coverage Amount: $50,000
  • Maximum Coverage Amount: $100,000
  • Conversion Option to Permanent: No
  • Approval Time: Instant

BONUS: Rapid Decision Express comes with a free accelerated death benefit rider that will advance up to 50% of the death benefit upon proof that the insured has a life expectancy of 12 months or less.

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Minnesota Life

Minnesota No Exam Life Insurance

  • Company Name: Minnesota Life
  • Policy Name: Express Issue
  • A.M. Best’s Rating: A+
  • Type of Policy: Simplified Issue No Medical Exam
  • Issue Age: 16-55 (Depending on coverage length)
  • Term Lengths: 10, 15, 20 & 30 years
  • Health Classifications: Standard
  • Minimum Coverage Amount: $100,000
  • Maximum Coverage Amount: $249,999
  • Conversion Option to Permanent: Yes
  • Approval Time: Instant

Sagicor

Sagicor No Exam Life Insurance

  • Company Name: Sagicor
  • Policy Name: Sage Term
  • A.M. Best’s Rating: A-
  • Type of Policy: Issue No Medical Exam
  • Issue Age: 18-65 (Depending on coverage length)
  • Term Lengths: 10, 15 & 20 years
  • Health Classifications: Preferred & Standard
  • Minimum Coverage Amount: $50,000
  • Maximum Coverage Amount: $500,000
  • Conversion Option to Permanent: Yes
  • Approval Time: Instant

BONUS: Sage Term coverage comes with a free accelerated death benefit policy rider. This rider allows for the option to obtain 50% of the policy’s death benefit due to a qualifying terminal illness or permanent confinement to a nursing home.

Transamerica

Transamerica No Exam Life Insurance

  • Company Name: Transamerica
  • Policy Name: Living Benefits (LB)
  • A.M. Best’s Rating: A+
  • Type of Policy: Simplified Issue No Medical Exam
  • Issue Ages: 18-60 (Depending on coverage length)
  • Term Lengths: 10, 15, 20, 25 & 30 year
  • Health Classifications: Standard
  • Minimum Coverage Amount: $25,000
  • Maximum Coverage Amount: $249,999
  • Conversion Option to Permanent: Yes
  • Approval Time: Varies but often 3-4 weeks

BONUS: Transamerica Living Benefits is a true full-on living benefits life insurance policy. This coverage gives the insured the option to obtain cash from the policy’s death benefit due to a qualifying terminal, critical or chronic illness similar to ANICO’s Signature Express policy.

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Easy Online Application Process – No Paper Applications Needed

No medical exam coverage is designed to get you insured as quick and as simple as possible. One way this is achieved is by eliminating the entire paper application process.

Instead of filling out a paper life insurance application, no exam applications are often done right over the telephone and signed electronically via email. Electronic application submission is one of the most efficient and quickest ways to get quick approval.

STEPS FOR NO MEDICAL EXAM APPLICATION PROCESS

  • Once the life insurance company and coverage details have been determined, you and your agent will be ready to start the online application process. The first step will be to complete the application over the telephone. All no exam life insurance applications will vary, but most will consist of personal information along with questions pertaining to your health history.
  • Once you and the agent have completed the application over the telephone, the application will then be sent via email to verify that all questions have been recorded correctly. At this point, if you see something that was inputted incorrectly, contact the agent so they can correct the mistake. If there are no errors, the next step will be to electronically sign the application. Electronically signing the application consists of just typing your name in the signature section.
  • After you have verified that all information has correctly been reported and have electronically signed the application, then the application will go back to the agent to sign. After the agent has signed the application, it will go to the life insurance company for underwriting and hopefully, a very quick approval.

Approval as fast as 15 Minutes!

Need a life insurance policy quickly? Is 15 minutes quick enough?

Yes, approval for life insurance coverage in as little as 15 minutes, after submission is very possible. Many of the no exam life insurance companies are designed to offer instant approval anywhere from 24-72 hours, but 15 minutes is possible with one company. Not everyone will qualify for instant approval.

Once an application has been submitted electronically to the insurance company, the next underwriting step is a quick check of your medical background, prescription history, and motor vehicle record. If all three of these checks come back good, approval can be made in no time.

Affordable No Exam Life Insurance Rates Ages 18-65

There is no doubt that if you are willing to take a medical exam, it will result in cheaper life insurance rates, then applying for a no exam life insurance coverage. However, with that said, the cost difference is often not too bad.

Remember, you’re paying a little more for convenience.

Health classifications are what are used to determine the final cost for what you will pay for coverage. When you take a life insurance company’s medical exam, you can qualify for the Preferred health classification. Since most no exam life insurance comes with an automatic Standard health classification, a Preferred will always beat Standard rates.

NOTE: SBLI & Sagicor have health classifications of both Preferred as well as Standard for no medical exam underwriting approval.

HEALTH CLASSIFICATIONS

  • Preferred Plus = Cheapest Rates Available
  • Preferred = Very Good Rates
  • Standard Plus = Good Rates
  • Standard = Average Rates
  • Smoker Rates = Double or more of a Non-Smoker
  • Table Rating = Expensive Rates

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Sample rates with an exam and without an exam

 Rates shown are for a healthy male non-smoker looking to purchase $500,000 of 10-year term life insurance. The preferred plus sample rates shown below are actual life insurance rates as of 2/2017.

Average Monthly Life Insurance Rates for a $500,000 Policy Based on Age
AgeAverage Monthly Rates With Medical ExamAverage Monthly Rates Without Medical Exam
35$14.07$18.27
40$18.19$23.75
45$28.52$29.39
50$41.73$45.70
55$70.63$74.56
60$112.75$127.32
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No Medical Exam Life Insurance for Seniors over age 65

Term life insurance over the age of 65 will require a medical exam with most life insurance companies. However, there is a very popular type of senior life insurance coverage called final expense insurance.

Final expense insurance is whole life insurance and does not require a medical exam or physical when applying. Death benefits typically range from $2,000 – $50,000 and are generally used to pay for burial expenses, medical bills, and remaining debts.

No Exam Life Insurance Coverage Q&A

The following are some of the more frequently asked questions regarding no exam life insurance coverage. If you have a question that is not listed below, please be sure to reach out to us, and we will get you the answer you are looking for.

Does no exam life insurance pay if you die within the first 2 years?

Yes, no exam life insurance is still the same as any regular life insurance coverage and the full death benefit will be paid from day 1. Just like regular life insurance, no exam life insurance also has a 2-year contestability period.

A contestability period means that if you pass away within the first two years the life insurance company can go back and investigate your records to make sure you didn’t lie about something on the application.

This usually comes in play when death occurs due to medical reasons within the first 2 years. After 2 years there is no longer a contestability period.

Can I get life insurance with no health questions asked?

Yes, however, it’s generally called guaranteed issue life insurance. GIL is life insurance coverage for someone who is often very sick and cannot qualify for regular life insurance coverage.

GIL is permanent life insurance, comes in a max death benefit amount of $25,000, and only pays if you live past the second year.

This type of life insurance coverage is also known as a graded death benefit and should not be mistaken as no exam life insurance coverage, as they are entirely different.

What about no medical exam universal life or whole life insurance?

We got you covered. Not all companies offer it, but if you want permanent life insurance without having to take a medical exam, then consider any one of these companies.

No Exam Guaranteed Universal Life Insurance

  • American National (ANICO)
  • Assurity Life Insurance
  • Sagicor Life Insurance

No Exam Whole Life Insurance

  • Assurity Life Insurance
  • Fidelity Life Insurance
  • Minnesota Life Insurance
  • Sagicor Life Insurance 

If I don’t have to take a medical exam how will the life insurance company know if I have any medical issues?

All life insurance applications should be answered 100% truthfully regardless of the type of coverage being applied for.

When applying for no medical exam life insurance, the life insurance company will verify your medical history by pulling your Medical Information Bureau (MIB) report as well as a prescription (Rx) report.

Another report that is pulled is your Motor Vehicle Report (MVR). All three of these reports are used to verify your answers to your application, as well as determine if you will be eligible for no exam approval.

Why should I choose no exam over traditional medical exam coverage?

No exam life insurance coverage is not for everyone. If you need coverage greater then $1,000,000, then you will need to consider traditional life insurance coverage that requires taking an exam.

Also, if you are concerned about getting the cheapest price for life insurance, then no medical exam life insurance is probably not the best option for you. Taking a medical exam gives you the best odds of getting the cheapest rates for life insurance.

No exam life insurance is perfect for people who want life insurance coverage quickly and conveniently without any hassle of filling out paperwork or taking time out of their day to schedule an exam.

No exam is also ideal for someone who needs a life insurance policy to secure a small business loan. Has it been a while since you have had lab testing done? Are you afraid of needles? Do you have white syndrome? These are all good reasons to go with no exam.

Can I be declined for coverage?

Yes. No exam life insurance coverage goes through underwriting and often has stricter qualifications than that of traditional life insurance coverage that requires an exam.

Certain medications can disqualify you for approval, whereas they might be allowable when applying for coverage that requires an exam.

Will my rates ever go up?

Yes, but not until the level term length has ended. Rates will be locked in depending on how long you decide to take the coverage out for. Depending on your age, you can find no medical coverage in term lengths up to 30 years. That means 30 years of a fixed premium.

Universal life and whole life insurance are both types of permanent insurance and have fixed premiums. The price on either one of these two types of coverage is guaranteed to remain the same price forever.

Should you consider a no exam life insurance policy with medical issues?

It depends. Most no exam life insurance coverage options have stricter approval guidelines then when applying for traditional life insurance coverage that requires you to take a medical exam.

With that said, if you have any known medical issue, it’s always going to best to reach out to us to discuss your health history. We will be able to shop for coverage based on your health and any prescriptions you use to see which companies will best meet your needs.

Are there any companies that offer $1,000,000 without a medical exam?

There are three companies that currently offer up to $1,000,000 without an exam. However, they have some differences from instant approval no medical coverage.

Top 3 Best No Exam $1,000,000 Life Insurance Companies

#1. Fidelity Life Insurance
#2. John Hancock Insurance
#3. Principal Financial Group

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Fidelity Life Insurance

No Medical Exam Life InsuranceFidelity Rapid Decision Hybrid Life offers up to $1,000,000 without an exam with a quick 24-48 hour approval time.

How it’s different from other instant approval no exam life insurance coverage?

Rapid Decision Hybrid Life offered by Fidelity Life Insurance is a blend of both life insurance as well as accidental coverage. When applying for coverage, you are initially not required to take a medical exam. The insurance coverage has a very quick approval time of 24-28 hours.

If approved, you have the option to complete a full medical exam within 6 months of approval, to turn the coverage into full life insurance coverage.

Coverage starts as 1/3 term life insurance and 2/3 of accidental death coverage.

IMPORTANT: Accidental death only pays if an accident caused death.

John Hancock Insurance

John Hancock with Vitality No Exam Life InsuranceSmartProtect Term with Vitality is our second company that offers up to $1,000,000 with no medical exam required and approval time in as little as 48 hours.

How it’s different from other instant approval no exam life insurance coverage?

SmartProtect Term with Vitality is a very unique life insurance coverage. It not only lets you get up to $1,000,000 of term life insurance without an exam but also gives you a chance to reduce your overall cost for life insurance by living a healthy lifestyle through their Vitality program.

SmartProtect Term with Vitality is a point system designed to give you a chance to earn points by doing healthy activities such as completing an annual health screening, exercising, taking online courses, and even being a non-smoker.

Your overall points will classify you in what is called a Vitality status. Statuses consist of bronze, silver, gold, or platinum. The better the Vitality status you earn, the higher the benefits such as discounted merchandise, food, hotel stays cruise rewards, groceries, annual health checks, and, most importantly, life insurance premiums.

IMPORTANT: Failing to maintain a healthy Vitality status can result in a higher life insurance premium.

Principal Financial Group

Principal Financial Group No Exam Life InsurancePrincipal Financial Group is the third company to offer up to $1,000,000 with no medical exam needed.

How it’s different from other instant approval no exam life insurance coverage?

Principal’s term life insurance can offer approval for life insurance in as little as 48 hours without a medical exam. However, we recommend that you be in excellent health as well as be within height and weight guidelines to qualify. If you do not qualify for instant approval, you will be required to take a medical exam to get coverage.

So if you are genuinely looking to apply for no exam coverage, you may want to consider the other options since you could be required to take an exam for approval.

Are there any disadvantages to no exam life insurance coverage?

Yes, but we wouldn’t say that they are severe. The two main disadvantages would be paying a little extra for coverage, as well as being limited to the amount of coverage you can get without having to take a medical exam.

What’s the Best Way to get a No Exam Life Insurance Quote?

Top Quote Life Insurance works with every life insurance company discussed in this article that offers no exam life insurance coverage.

Our online quote tool can provide you with accurate no medical exam life insurance quotes, but the best way to get a quote tailored based on you and your overall needs are to contact us at Top Quote Life Insurance.

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