No Exam Term Life Insurance | Rates & Advice

Last Updated: March 31, 2019

Do you need life insurance, but don’t have the time to complete a medical exam? No problem!

We offer no exam term life insurance policies that are often approved in minutes, not weeks!

Healthy individuals between the ages of 21 and 65 can usually qualify for up to $500,000 of medically-underwritten life insurance in as little as 24 hours.

No exam insurance policies are ideal for people who need family protection but hate the thought of needles, are busy executives or world travelers, and for business owners that need life insurance in a hurry in order to collateralize a SBA loan.

In this quick guide we have included some sample quotes by age and gender in order to help you estimate what a no exam term life insurance policy would cost you each month.

Quick Article Guide:

1. What is No Exam Term Life Insurance?
2. Who Commonly Buys No Exam Term Life Insurance Policies?
3. How Much Does No Exam Term Life Insurance Cost?
4. How Do I Apply for a No Exam Life Insurance Policy?
5. What Are the Cons of No Exam Insurance?

What Is No Exam Term Life Insurance?

If you’re like some of our clients, maybe you can’t stand the thought of having to your blood drawn, or perhaps your calendar is overlapping with meetings and you are double-booked with appointments for the next six months. You know you need life insurance, but setting time aside to complete a medical exam just seems impossible.

The good news is, there are lots of affordable life insurance options available for people in your situation. No medical exam term life insurance works just like traditional term life insurance with guaranteed coverage and rates, but it does not require a medical exam for approval. Instead, the life insurance company will electronically review your medical records, driving records, and prescription history before approving your policy.

By eliminating an in-person meeting with a nurse, some insurance companies can approve their applicant’s in as little as 1 to 7 days. Every life insurance company has their own approval process, rates, and underwriting guidelines. By working with over 60 top-rated life insurers, we’re able to match our clients with the company that is the best fit for their unique situation.

Who Commonly Buys No Exam Term Life Insurance Policies?

No Exam Candidates Over the years, we’ve helped hundreds of clients with a no exam term life insurance policy. The clients who tend to benefit the most from these policies to include:

1. Anyone who is extremely afraid of doctors, or having their blood drawn
2. Long distance truck drivers
3. Traveling business executives with packed schedules
4. People with divorce decrees who are court-ordered to obtain life insurance ASAP
5. Business owners who need life insurance to secure a SBA Loan

In addition, to life term insurance some companies also offer other forms of lifetime coverage without a medical exam.

What types of “No Exam” life insurance policies are available?

Below we’ve listed the life insurance options our agency offers without a medical exam:

1. Term Life Insurance: Term policies are available to applicants between the ages of 21 and 70. They offer a fixed death benefit of up to $500,000 and level rates that are guaranteed for 10, 15, 20, 25, or 30 years.
2. Guaranteed Universal Life (GUL): GUL’s are also known as; term-to-90, term-to-95, term-to-100, and term-to-120 policies. They are available to people aged 21-65, and offer up to $500,000 in coverage with level rates to age 90 or later.
3. Whole Life Insurance: These “lifetime” policies are available to applicants until the age of 80 and are usually purchased for burial coverage. They provide fixed rates with a level death benefit of $50,000 or less until age 100.
4. Guaranteed Issue (GI) Life Insurance: These policies are available to anyone between the ages of 50 and 85, regardless of their health issues. They offer a death benefit of up to $25,000, and they do not ask any health questions, or require an electronic health screening for approval. However, these policies tend to be relatively expensive, and they have a two-year waiting period before full coverage is offered.
5. Graded Benefit Whole Life: These policies are like guaranteed issue life insurance and offer a death benefit of $25,000 or less. However, instead of a two-year wait period, they offer coverage with higher premiums and/or reduced benefit for the first two years. After this period, your rates will be fixed until age 100.

*Policy options vary by state and company. To determine your available options, please feel free to call us toll-free at: 855-902-6494. Your licensed Term Life Advice agent will be able to provide you with all your available options and accurate quotes from each company.

How Much Does No Exam Term Life Insurance Cost?

No Exam CostWith convenience typically comes cost, and no exam life insurance used to be substantially more expensive than traditional term life insurance that required an exam. In recent years however, no exam life insurance has become more and more competitive with rates that are comparable to term policies that require an exam.

Below we’ve provided some sample life insurance quotes by age and gender to help you estimate the difference in cost. Depending on your need for coverage, you can also secure a no exam policy as a quick fix. Our client’s often purchase no exam coverage when they are in a hurry and then replace their coverage later, when they have the time to complete an exam.

No Exam Term Life Insurance Quotes by Age and Gender – $250,000, 10-Year Term

Current AgeMaleFemale

*Monthly rates are for applicant in “excellent” health and accurate as of 09/06/2017. Rates are provided for illustrative purposes only.

To obtain an accurate quote based on your exact age or health, please call us toll-free at: 855-902-6494. Our experts will quickly compare rates from dozens of top-rated companies to match you with best options available.  

How Do I Apply for a No Exam Life Insurance Policy?

Applying for a no exam life insurance policy is easy, and it can be done right over the phone in just a few minutes. Here’s How the Process Works:

1. Call us toll-free at: 855-902-6494.

One of our licensed agents will ask you a few questions about your health and lifestyle in order to provide you with accurate quotes and a breakdown of your options for coverage. If you need help determining the amount of coverage you need, or for how long, one of our experts will provide you with the best option based off of YOUR needs. Our agents have helped thousands of clients and have at least 5-10 years of life insurance experience.

Remember, every life insurance company has their own underwriting guidelines and pricing, which is why it’s very important to answer the health questions as accurately as possible. Your agent will use your answers to match you with the top-rated company that is the best fit for your unique health profile. This prescreening process will help you save money, and decrease your chances of being declined for coverage.

In addition, life insurance is regulated on a Federal and State level, and your application needs to match your medical history. Insurance companies and doctors share information through the MIB (Medical Information Bureau), and most life insurance companies will review these records before approving an application for more than $25,000 of coverage. This due diligence keeps the life insurance companies in business, and it keeps the cost of life insurance more affordable.

2. Complete your application

Once you’ve decided on the company, we’ll help you complete your application over the phone in just a few minutes. Basic application information includes; your date of birth, address, phone number, and email address. Here are some additional items you’ll want to have handy:

•  Your driver’s license number and social or taxpayer ID
•  The names of your beneficiary or beneficiaries and their date(s) of birth
•  Your existing life insurance policy number (policies through your employer are not needed)
•  Payment method (credit card or account number)

Once we complete your application over the phone, we’ll email it to you for review. Once your application has been electronically signed, the insurance company underwriter will check your medical & pharmacy records, as well as your driving record (“MVR”) to make sure there are no underlying issues with your application. Some life insurance companies may also require a brief phone interview before approving your application.

In most cases, your policy will be approved within 1 to 10 business days. This mainly depends on the amount of coverage you need and the type of policy that you are applying for. Once your policy is approved, you’ll receive a phone call to let you know that everything looks good, and you can expect to receive your policy via email or U.S. mail within a week or two. If you change your mind, you have 30 days to cancel your policy and receive a full refund.

What are the “Cons” of No Exam Life Insurance?

As we mentioned earlier, no exam life insurance can be more a bit more expensive than a comparable term life policy that requires an exam. Here are some other potential downsides to no exam life insurance:

1. You’re not guaranteed to be approved for a policy. Although no life insurance application is “guaranteed” to be approved, sometimes there are errors in people’s medical records. While these errors can often be corrected, they can initially cause a life insurance application to get declined, delaying coverage.
2. Not all policies provide immediate coverage. While no exam term life, whole life, and guaranteed universal life insurance offer immediate coverage, guaranteed issue policies have a two-year “waiting period” where they only provide a limited amount of coverage.
3. Lower death benefit limits. Most no exam life insurance companies limit the amount of coverage you can qualify for to $500,000 or less. Most policies that require an exam offer up to $5,000,000 of coverage or in some cases more.
4. Premiums (cost of insurance) may increase with age or in 5-year blocks. While our agency does not offer these policies, some well-known companies like AARP do, so make sure you read the fine print!
5. Some “whole life” policies expire at age 80. Our agency only offers whole life insurance policies that extend your coverage to age 100. However, some insurance companies sell “whole life” insurance policies that expire at age 80.

We Can Help You with all Your Life Insurance Needs

We Can HelpIf you’re still debating about no exam life insurance, please feel free to give us a call. We’ll answer all your questions and provide you with accurate quotes for life insurance with or without a medical exam.

Our services are free and our goal is to help you protect your loved ones with high quality, affordable life insurance. We work with 63 top-rated companies, so if you need life insurance quickly, you came to the right place!

Give us a call today, toll-free at: 855-902-6494, or you can request a free quote online below to instantly compare rates from more than a dozen top-rated companies.

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