Non-Medical Life Insurance (Purchasing Life Insurance Without an Exam)

Last Updated: April 6, 2019

A handful of highly-rated life insurance companies offer term life and permanent life insurance with immediate coverage.

These types of policies are often called non-medical life insurance, no medical life insurance, or no exam life insurance, and while they mean sound the same, the coverage they offer and their pricing, can differ greatly.

To help you save money and prevent you from buying the wrong type of coverage, we’ve explained the most common non-medical life insurance options that are currently available.

Quick Article Guide:

  1. The Four Types of Non-Medical Life Insurance
  2. What’s the Approval Process for No Exam Life Insurance?
  3. How Much Does No Medical Life Insurance Cost?
  4. How Do I Get Started?

The Four Types of Non-Medical Life Insurance

There are four commonly purchased life insurance policies that do not require an exam for approval. We’ve explained the types of coverage below, as well as a lesser-known permanent life insurance option.

Accidental Life Insurance – These insurance policies are available to all applicants under the age of 70, regardless of their health. Unlike normal life insurance coverage however, they only provide a death benefit if the insured dies in an accident.

These polices do not pay anything if the insured dies from a health-related incident. Accidental coverage is usually offered by lenders when you purchase a home, but buyer beware: while these policies are very affordable, they rarely pay out.

The odds of dying in an accident are extremely low compared to other health issues like heart disease or cancer. While these policies are better than no coverage at all, we recommend purchasing a policy that provides full coverage.

No Exam Term LifeNo exam term life insurance works just like term life insurance and they are usually available to applicants until the age of 70. These policies can offer as much as $1,000,000 or as little as $50,000 of coverage, and they offer a speedy approval process.

No exam term insurance is very affordable and easy to purchase. Term life offers straightforward coverage and level rates for ten or more years, and it is ideal for anyone who wants to protect their family or their business but doesn’t have the time to take an exam.

These types of policies are also commonly purchased by people who need life insurance in a hurry to collateralize an SBA loan, or by anyone who can can’t fathom the thought of giving blood.

To learn more about no exam term life insurance, please see our recently updated guide: The Top 10 No Exam Life Insurance Companies in 2018.

Whole Life InsuranceWhole life insurance usually provides up to $50,000 of life insurance protection until the age of 100. These policies do not require a medical exam, but they are relatively expensive compared to the small death benefit they offer.

Traditional whole life insurance is ideal for someone who is looking to cover the costs of their burial expenses, but, $50,000 of coverage is not adequate for most young families or mortgages.

All qualifying individuals pay the same rate, which is based solely on age and gender. Whole life insurance is usually available until the age of 80.

Guaranteed Issue Life Insurance – Also known as Guaranteed Acceptance life insurance, guaranteed issue life insurance policies are usually sold in $5,000 increments and are available to just about anyone under the age of 85, regardless of their health.

These policies offer a maximum of $250,000 of coverage, and they are more expensive than other types of whole life insurance because they do not ask any health questions. In fact, they do not check your medical records at all, but they do have a two-year waiting period before full coverage begins.

During the first two years, health-related deaths are not fully-covered. If the insured passes away during this time, all the money paid into the policy plus interest is returned to the beneficiary. After two years, these policies offer full protection for death from any cause.

Guaranteed Universal Life Insurance – The lesser-known permanent option, Guaranteed universal life insurance is like hybrid of whole life and term insurance because it offers fixed rates and level coverage until the age of 90 or later. These policies offer larger death benefits that whole life insurance and they are more affordable.

Like term insurance, with no exam guaranteed universal life, you can select the amount of coverage you need, and the age you want the coverage guaranteed until. Most companies offer level rates until age 90, 95, 100, 110, and 120.

These policies are perfect for funding a trust, estate planning, leaving an inheritance, or maximizing a pension. Some of our clients also buy guaranteed universal life insurance with term life insurance if they have large financial obligations or debts that will decrease overtime.

no med policies

What’s the Approval Process?

what's the approval processThere are three types of approval processes for non-medical life insurance. With guaranteed issue life insurance (up to $25,000 of coverage with no questions), and accidental life insurance, the approval process is as simple as electronically signing your policy and making a payment. Your conditional coverage will begin as soon as your first payment clears.

With whole life insurance, there are no medial exams, but the life insurance company will ask you some health-related questions. The insurance company will then electronically review your medical records and your prescription database history to verify your answers. If everything checks out, your policy will become active as soon as you make your first payment.

With non-medical term life insurance and guaranteed universal life insurance, the approval process is almost the same as the whole life insurance approval process except, some of the companies require a telephone interview after you electronically sign your application. The phone interview usually takes fifteen to twenty minutes and consist of questions that relate to your medical history, your hobbies, and your immediate family’s medical history.

Some medical issues like diabetes are an automatic decline with all whole life insurance companies, but the term and guaranteed universal life insurance companies tend to offer more leniency for applicants who have a few health issues like diabetes, high blood pressure, or elevated cholesterol.

How Much Does No Exam Life Insurance Cost?

No exam life insurance is usually more expensive than life insurance that requires a medical exam. This is especially true when comparing whole life insurance to policies like guaranteed universal life insurance that typically requires an exam for approval. The good news is, more and more companies are offering life insurance without an exam, and the increased competition has resulted in more affordable rates for consumers.

In the table below, we’ve compared the cost of no exam term life insurance to term life insurance that requires an exam. Term life insurance provides the most all-inclusive coverage for the lowest cost which makes it popular with young families who need to secure and income and their mortgage.

No Exam vs. Exam Term Life Insurance Rates – 10-Year Policy, $250,000 Coverage

No Exam Term LifeExam Term Life
Current AgeMaleFemaleMaleFemale

*Monthly rates displayed above are for qualifying individuals in excellent health and are accurate as of 06/15/2018.

We always recommend guaranteed universal life insurance over whole life insurance. In the table below, we’ve compared guaranteed universal life insurance rates to whole life insurance rates to illustrate the potential savings. Neither policy requires a medical exam, and they both offer the same amount of coverage with fixed rates until age 100. The sample rates below are both for coverage up until age 100, with $100,000 of coverage for Guaranteed Universal Life, and $50,000 of coverage for Whole life.

Guaranteed Universal Life ($100,000 Coverage) vs. Whole Life ($50,000 Coverage) Insurance Rates until age 100

Guaranteed Universal LifeWhole Life
Current AgeMaleFemaleMaleFemale

*Monthly rates displayed above are for qualifying individuals in excellent health and are accurate as of 06/15/2018.

To obtain a free accurate quote based on your age and health, please call us toll-free at 855-906-6494. We’ll quickly compare rates and options from more than 60 top-rated companies to find your best match. You can also request a free quote below.

How Do I Get Started?

Term Life Advice is a no-fee brokerage that represents 63 top-rated life insurance companies. By working directly with dozens of companies, we’re able to save our client’s time and money by matching them with the best options available. Give us a calltoll-free, at 855-906-6494, and one of our licensed agents will be able to provide you with your options and accurate rates in just a few minutes.

If you have some health issues, don’t worry! By having access to each company’s guidelines, we know which companies are more lenient with specific health issues than others. By asking you a few questions about your health will make sure you apply with the best company for your unique health profile.

If you decide to apply for coverage, it’s as simple as answering a few questions over the phone and electronically signing your application through email. Depending on your age, health, and the amount of coverage you apply for, you could be approved in as little as 24 hours.

As an independent, non-partial agency, our only goal is to provide you with the lowest rates and the best customer service in the industry. You can also request a free instant quote below to compare rates from dozens of life insurance companies in less than a minute. We helped thousands of clients with their non-medical life insurance needs, and we can help you too!

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