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No Medical Exam Life Insurance Companies
The no medical exam life insurance companies that you will see in our quoter will each offer different benefits and restrictions. These companies are not one size fits all, each company will have something that fits, or doesn't fit your specific needs. Some offer a faster decision process, while others offer more coverage amount. What they all have in common is that there is no medical exam required. Let’s hit some highlights of what you can expect from each of the life insurance companies while running your no medical exam life insurance quotes online.
Sagicor is an A-rated life insurance company that offers a no medical exam product that can be issued instantly or up to a 72 hour review. That means its highly likely that you will know if you're approved immediately at the end of the application or within 3 days if further review is needed. The policy that you can acquire can be up to $500,000 in coverage for 10 to 20 years worth of term life insurance coverage. They ask a few health questions and check the Medical Information Bureau(MIB) for health records. This company is recommended for fairly healthy individuals with a moderate history of health issues.
Approval is instant or up to 72 hours
Coverage up to $500,000
Term for 10/15/20 years or lifetime
Fidelity Life Insurance
Probably one of the most recognized out of all the no medical exam carriers, Fidelity Life is another A-Rated company that offers a no exam option. The application takes about 15 minutes and you can get an approval in as quick as 24 to 48 hours. Like Sagicor this will require 0 paperwork and everything can be done electronically. This policy comes with a coverage limit of $250,000 for a 10 to 30 year term life policy. We also recommend this product for fairly healthy people with minimal history of health issues.
48 hour approval
Coverage up to $250,000
10/20/30 year terms
Another A-rated company, American National is a life insurance carrier that is a little more lenient with underwriting in comparison to other no exam companies. It offers $250,000 worth of coverage for a 10 to 20 year term life insurance policy. The decision process with American National can take up to 30 days to get an approval. While this may be a bit longer than most non med companies this carrier is much better for people who are considered a high risk. For example , if you're a smoker, have diabetes, or other medical conditions, you may still get approved for coverage without an exam.
48 hour to 30 day approval time
Coverage up to $250,000
10/20/30 year terms
National Life Group
National Life offers same day approval in as little as 10 minutes. Also A-rated, this company has stricter underwriting guidelines so it's best for healthy people just looking to get coverage fast. An application can be done completely online or over the phone with no paperwork required. You can get up $250,000 worth of coverage for 10 to 20 year term life product.
Coverage up to $350,000
10/20/30 year terms
A strong and popular life insurance company, Transamerica Trendsetter products are a no medical exam product that has standard underwriting length with no medical exam. The approval process can take up to 30 days or less. It is a little more flexible as far as underwriting so recommended for people with moderate health issues who prefer a non med route. You can get up to $250,000 in coverage for a 1 to 30 year non exam term life insurance policy. Includes living benefit options and known to be ideal for liver disease applicants.
Approvals up to 30 days
Coverage up to $250,000
10/15/20/30 year terms
Another no medical exam company with a strong financial rating but a longer approval process than most. Assurity has moderate underwriting guidelines that are not as strict as most companies that offer non med. It has the best rates for smokers if you want to go the no physical exam route. You can get up to $350,000 in coverage for 1 to 30 years worth of term life coverage.
Approval up to 30 days
Coverage up to $350,000
10/20/30 year term
What All No Medical Exam Companies Have In Common
1. We represent all of them, you get the same rate through us or if you go directly but with us you get an educated comparison. We're able to guide you through the process and let you know which no exam option provides the best solution to your specific requests.
2. Much faster underwriting than standard issue medical exam policy, which usually take anywhere between 6 to 8 weeks or longer if more information is required.
3. All companies have a cap on the amount of coverage you can apply for. So if you would be interested in more coverage you would have to apply with two different no medical exam companies or go the regular medical exam route.
While you're running your no medical exam life insurance quotes online keep in mind one thing: the lowest rate on the quote engine isn't always the lowest rate for you. If you have any health conditions or health history you may be a better fit for one company and not the other in terms of health class. The health rating has a strong influence on the premium you pay. If you want more detailed information feel free to contact us directly.
What is No Medical Exam Life Insurance?
Life insurance with no medical exam is exactly that, attaining life insurance coverage without having to take the required physical to attain a policy. It is also known as Simplified Issue Life Insurance.
With a traditional life insurance policy you will have to schedule a medical exam during the application process. Then a nurse comes out to your home at a time and place of your choosing. The nurse will measure your height/weight, check your blood pressure, and take a blood and urine sample. After the exam is complete, your results will be reviewed along with your application and medical history to determine your rate. With a no exam policy you still got through the underwriting and application, but you get to skip the medical exam.
Outside of the added convenience of no nurses or needles, it also helps speed up the approval process by a few weeks. Most no exam companies can get you an approval within a few hours to a few days. However, because life insurance companies take on an extra risk by not administering the exam, there are a few limits that come with these policies in comparison to the traditional life insurance products.
Difference between No Exam and Term Life Insurance
While no exam life insurance is a form of term life insurance policy, it does come with it’s own set of criteria. Lets cover the main differences between a traditional policy and simplified issue coverage.
Coverage Amount - with a traditional policy you can get any amount of coverage that you see reasonable. When you opt to skip the exam you are looking to be capped at $250,000 to $500,000 worth of life insurance coverage, depending on the no exam carrier. Each company has different caps so its best to do your shopping based on your needs.
Cost - a simplified issue policy can often be a little more expensive than traditional coverage due to a more simplified underwriting process. Also, most no medical exam companies will start you off at a “Standard” rate class, which is the third best possible for a life insurance policy, which causes your rate to be a little higher. The only company that can approve you at a Preferred rate with no medical exam is Sagicor.
Underwriting - when it comes to getting qualified for coverage, no exam companies are a lot more strict in their guidelines. If you're a high health risk, it will be harder to get approved for coverage. However when it comes to the speed of the underwriting, a no exam policy is much faster than a traditional 6 to 8 week approval process.
Riders - traditional term life insurance tends to come with more add on’s free of cost than most of the simplified issue companies.
Those are the key differences between traditional term life insurance and term life insurance without the physical exam.
So how do you decide if this is the policy for you? Let’s break it down.
Is No Exam Life Insurance for You?
No medical exam life insurance has been growing in popularity due to the fact you can get term life insurance quotes online and submit an application without any paperwork or exam. It is one of the best term life insurance choices since it allows you protect your family without any delays or procrastinations. No exam term life is definitely a huge request from our clients but of course it is not for everyone for a variety of reasons. Getting your life insurance without the medical exam is for you if:
You seek convenience
Unlike traditional life insurance process, non med life insurance is usually applied for completely online with electronic signature submission. There is also no medical exam so the nurse will not have to come out, which doesn't take time out of your already busy day. So if you're like most Americans who juggle between work and family with little time left for anything else then this is a very enticing offer.
When it comes to no exam life insurance the underwriting guidelines are a little bit more aggressive since the only thing the companies can go off is your medical records and scouts honor. Someone who has a medical condition such as diabetes, heart issues or any other major illness that is being treated will most likely get rejected. We do have one company that is open to a higher risk but overall majority of the no exam life insurers will not accept anything outside some milder health conditions like controlled blood pressure or cholesterol. Keep your health in mind when comparing quotes.
You need coverage for less than 500k fast
If you don’t need a huge amount of life insurance death benefit then a no medical exam policy is right for you. You can easily secure a policy for 25k-500k very quickly. Some clients will even get two policies from different carriers if they need more than 500k of life insurance because you can’t beat the benefit of securing term life insurance online rapidly with no medical exam. We have companies that will issue a policy within 10 minutes or 48 hours after an online application is completed. This is the only option that comes close to getting instant non med quotes and policies online.
You don’t mind paying a little more
As you already know you get what you pay for so I know you didn’t think it was same cost as the regular exam life insurance. No medical exam life insurance premiums can be double the cost of regular term life insurance. The reason is that you automatically get a standard rate due to the fact the company doesn’t have the lab results to use in the decision making process like with traditional term exam life insurance.
You have a phobia
If you have either Trypnaphobia(fear of needles) or Hemophobia(fear of blood) then a non med policy may be your best shot at getting a life insurance coverage in force. Even while you may be addressing the phobia you don't want to prolong getting coverage until the phobia is better handled. It's best to have some coverage in place until you come closer to being able to handle your fears safely and getting something in force to protect your financial responsibilities. You will never be as young or healthy as you are today, which means your rates will never be lower, lock in a low rate without the hassle of a medical exam.
If any one of the five reasons match up to you then you're a great candidate. The next step would be to compare quotes and plans from the top life insurance companies that provide non-med coverage in their product portfolio. If you're ready to compare quotes then please fill out our quoter on the top of this page. Our quote engine has been specifically customized to show you exclusively no medical exam life insurance options. If you find a plan that is affordable from a reputable company then you can call us to complete an application 100% online with no paperwork, in 15 minutes or less.
Frequently Asked Questions
Q. What is the most coverage I can get with this type of policy?
A. For any one individual carrier the biggest cap is $400,000 with Sagicor. To get more coverage you can stack a couple no medical exam policies together. There is a product with Principal Life Insurance Company that offers up to $1,000,000 with no medical exam required. It is their traditional product but offered on a simplified issue basis for those that have a history great health.
Q. Can I get a permanent life insurance policy with no medical exam?
A. Yes, Sagicor offers a “Permanent Term” Guaranteed Universal Life Insurance policy with no medical exam required. Like their term product it is capped at $400,000.
Q. How long will it take for me to get approved?
A. Depending on the company it is possible to get approved within a few hours. Companies like Sagicor and Fidelity offer approvals in as little as 48 to 72 hours while companies like American National and Assurity take up to 30 days. Please refer to the company chart above for each carriers guidelines.
Q. If it’s no exam, why are there health questions?
A. Even though you get to skip the medical exam, you don’t skip the underwriting portion of attaining a policy. The life insurance company will still look into the Medical Information Bureau(MIB) to get access to your medical records. They will also look into your driving history and medical history. All of this information will be used to determine your qualification. If you’re looking for a “no questions asked” life insurance policy, check you our guaranteed issue life insurance quoter.
Q. Can I get life insurance if I have health issues?
A. Yes, they aren't exclusive to healthy people but they are more strict than traditional term life insurance companies. However conditions like diabetes, high blood pressure, high cholesterol, anxiety and the like can still be approved for no exam coverage. The key is to have those conditions under control and provide details regarding a favorable lifestyle.
Q. When do I make my first payment?
A. Most companies will require an automatic withdrawal if you want to pay on a monthly basis, which means your first payment will be drafted upon approval. However if you opt for a quarterly, semi-annual, or annual form of payment, you can do a direct bill. For this you will send them a check when you receive the policy in the mail. You will have to sign the delivery receipt and mail it in along with your premium amount back to the carrier.
Q. Can I do the application myself?
A. Most of the application for no exam are electronic but have to be done over the phone with an agent and then emailed to you for e-signature. The one company that does allow you to be emailed an application is Sagicor Life Insurance. However it is recommended to do this with an assistance of a professional.
No medical exam life insurance resources
We've worked hard to make our website a resource for all life insurance information. If you want to learn more read our non med life insurance articles or contact us today at 888-492-1967.