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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.
Best No Exam Life Insurance Policies of 2023
Haven Life – Product Name Only: Best Online ResourcesAARP Life Insurance – Product Name Only: Best for SeniorsUSAA Life Insurance – Product Name Only: Best for Military MembersPrudential Life Insurance – Product Name Only: Best for Higher Policy LimitsEthos Life – Product Name Only: Best Term Life PolicyMutual of Omaha Life Insurance – Product Name Only: Best for Guaranteed AcceptanceAAA Life Insurance – Product Name Only: Best for Waiting Period
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.
Compare the Best No Exam Life Insurance Policies
Methodology: How We Chose the Best No Exam Life Insurance
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.
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.
No Medical Exam Life Insurance 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.
Best Online Resources
Haven Life
Haven Life – Editorial Name Only 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 Seniors
AARP
AARP Life Insurance – Editorial Name Only 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 – Editorial Name Only. 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
Prudential Life Insurance – Editorial Name Only 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 – Product Name Only 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
Mutual of Omaha Life Insurance – Editorial Name Only 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 Life Insurance – Editorial Name Only 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
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.
How to Pick The Best No Medical Exam 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.