Are you shopping for no medical exam life insurance? At Term Life Advice, we represent more than 60 top-rated life insurance companies, and some of these companies offer affordable life insurance policies that do not require a medical exam.
In recent years, more and more life insurance companies have begun offering no medical exam life insurance to applicants under the age of 70. This increase in competition has resulted in more coverage options, and less expensive rates, for applicants search of term or permanent life insurance without a medical exam.
In this article we’ll review the best no exam life insurance companies and provide actual rates for applicants who do not have any serious health issues. We will also provide each company’s sweet spots for underwriting and explain each company’s approval guidelines.
Quick Article Guide:
1. What is No Medical Exam Life Insurance?
2. No Exam Life Insurance Carriers at A Glance
3. Banner Life/William Penn (A Legal & General Company)
4. Savings Bank Life Insurance Company of Massachusetts (SBLI)
5. Principal Financial Group (PFG)
6. Lincoln Financial Group (Lincoln National Corporation)
7. Securian Financial Group (Formerly Minnesota Life)>
8. Transamerica Life Insurance Company
9. Sagicor Financial Corporation
10. Mutual of Omaha (United of Omaha)
11. Assurity Life Insurance Company
12. Gerber Life Insurance Company
13. How We Can Help You Find the Best No Medical Exam Life Insurance Policy
What is No Medical Exam Life Insurance?
Most life insurance companies require their applicants to complete a free in-home medical exam before approving their life insurance application. For some clients, this requirement prevents them from ever purchasing life insurance because they are either too busy to find the time to complete the free medical exam or they can’t stand the thought of getting poked with a needle to give blood.
The good news is that many top-rated life insurance companies have begun to offer competitive rates to their applicants without requiring a medical exam. In some cases, the rates for a no medical exam life insurance policy are just as competitive as the rates for a policy that requires one.
You may ask yourself, how is this possible?
Instead of requiring a medical exam, the life insurance companies can electronically review your medical records and prescription history. This eliminates the need for a medical exam and it allows the life insurance companies to evaluate the health of their applicants in order to keep their rates competitive.
We work with more than 60 life insurance companies, but only a handful of the carriers specialize in no exam life insurance. In this article, we’ll review our top 10 no exam life insurance companies for 2017 and also provide sample rates for each insurance company by age and gender.
No Exam Life Insurance Carriers at A Glance
Banner Life/William Penn (A Legal & General Company)
Legal & General Group is one of the largest and oldest life insurance companies in the world. Originally founded in 1836, they currently operate in the United Kingdom, France, Egypt, Germany, India, the Gulf, the Netherlands, and the United States. In the USA, Legal & General operates as Banner Life in every state except New York where they operate as William Penn. Both Banner Life and William Penn are rated as “A+ Superior” companies by AM Best.
In 2016, Legal & General began offering no exam life insurance to applicants who were in average or better health for their age. Banner Life/William Penn offers some very competitive advantages for no medical exam life insurance that sets them apart from other companies offering the same policies. We’ve outlined these underwriting niches below:
- Tobacco Use: “Preferred best” rates are available for applicants who quit using tobacco more than three years ago. This is important because most companies will make you wait five years before you can qualify for their top rate class.
- Cholesterol Medications: For applicants taking a cholesterol medication, a blood pressure medication, or both, some companies will not offer better than the second best rate class, “preferred.” Banner Life/William Penn allows these clients to still qualify for their top rate class, “preferred best.”
- Blood Pressure Medications: Applicants taking a blood pressure medication can still qualify for the top rate class, “preferred best” (Some companies will not offer better than their second best rate class, “preferred”).
- Type II Diabetes: Controlled Type II diabetics can qualify for “standard plus,” the third best rate class, with Banner or William Penn. (Most life insurance companies will not offer better than “standard” rates to applicants who have been diagnosed as diabetic).
- Asthma: Applicants with asthma who are taking two medications or less to control their asthma may qualify for “preferred” rates. For most companies, two asthma medications will automatically cause an applicant to get approved at a “standard” rate.
- Anxiety or Depression: “Preferred” rates may be available to applicants who are taking a medication to control their anxiety or depression, as long as the applicant is taking only one medication to control their condition.
- Overweight: If you are in overall good health, but are a few pounds overweight, Banner Life/William Penn may be able to provide you with underwriting “credits” to improve your rate class. We recently worked with a client that was 40 pounds overweight but exercised four to five times a week. Banner was able to offer her “preferred” rates, where most companies would have offered her “standard” rates for her build.
- Family History of Cancer: The “preferred best” rate class is available for applicants who have a family history of cancer as long as there is no evidence that the cancer is hereditary. (Most life insurance companies will not offer better than a “preferred” rate to applicants in this situation)
Who Can Apply For No Medical Exam Life Insurance with Banner Life or William Penn?
Banner Life and William Penn accepts applicants who meet the following criteria:
Name of Non-Medical Term Policy: APPcelerate OPTerm
Ages Accepted: Between the ages of 20 to 50
Coverage Available: $100,000 to $500,000
Terms Available: 10, 15, 20, 25, and 30 years
Rate Classes Available: Preferred Best, Preferred, Standard Plus
State Restrictions: Available in all states except Alaska, Connecticut, and Hawaii
Riders Available:
*Product features and rider availability may vary by state and age.
What are the Requirements for Approval of my No Exam Policy from Banner Life?
The following requirements are needed to approve a no exam life insurance policy with Banner Life or William Penn:
- Phone Interview with an underwriter
- Review of Medical Information Bureau (MIB) records
- Review of prescription database history
- Review of driving record
- Medical records from your doctor may be reviewed
*Most no exam life insurance applications are approved within a week, but if medical records are requested, the application may take longer. Banner Life/William Penn may request an in-home exam depending on the outcome of the phone interview and/or medical records review.
How Much Can I Expect to Pay For My Banner / William Penn Policy?
The chart below illustrates actual rates for applicants who are in excellent health. We’ve outlined the coverage amounts that are most frequently purchased from this insurance carrier.
Actual Life Insurance Rates for a No Exam, 10-Year Term Life Insurance Policy from Banner Life
| $250,000 | $500,000 | |||
| Age | Female | Male | Female | Male |
| 20 | $9.41 | $13.78 | $13.12 | $18.81 |
| 25 | $9.41 | $13.78 | $13.12 | $18.81 |
| 30 | $9.62 | $13.78 | $13.12 | $18.81 |
| 35 | $10.06 | $13.78 | $14.00 | $18.81 |
| 40 | $11.59 | $14.87 | $17.28 | $23.19 |
| 45 | $15.90 | $18.37 | $25.79 | $29.61 |
| 50 | $21.66 | $26.25 | $36.75 | $44.62 |
*Displayed rates are for an individual in excellent health and are accurate as of 04/01/2017. Rates are provided for illustrative purposes only.
Savings Bank Life Insurance Company (SBLI)
Savings Bank Life Insurance Company of Massachusetts, also known as SBLI, was founded in 1907 by Louis Brandeis. SBLI is known as the “easy, no-nonsense” life insurance company and they are licensed to sell life insurance in every state but New York. AM Best has rated Savings Bank Life Insurance Company of Massachusetts as an “A Excellent” company.
In 2016, SBLI began offering “no paramed” life insurance to applicants in fair to excellent health for their age. Like other life insurance companies, SBLI also offers some very competitive niches for their applicant’s that sets them apart from other life insurance companies. We’ve outlined them below:
- All Health Classes Can Qualify for No Paramed Life Insurance: SBLI offers no paramed life insurance policies to applicants who are in perfect health, and applicants with health issues. Most life insurance companies do not offer coverage to applicants who are considered to be a high-risk, unless they are willing to complete an in-home exam.
- Accepts Applicants Up to Age 60: Applicants can qualify for up to $500,000 of life insurance until the age of 60. (Most life insurance companies not allow an applicant over the age of 50 to apply for more than $100,000 of life insurance without an exam).
- No Paramed Exam Required, Regardless the Outcome of Phone Interview: Almost every life insurance company in the industry requires a phone interview before approving a life insurance application. Some companies will require their applicants to complete a free exam based on the outcome of your phone interview, however, SBLI will not request an exam for approval, regardless of the outcome of your phone interview.
- Healthy Credits Program: SBLI may offer an applicant underwriting credits to improve their life insurance rates if they are in overall excellent health, but have one health issue that prevents them from qualifying for a “preferred” or “preferred best” rate. (Health issues that can be overlooked include build, elevated blood pressure or cholesterol, and a family history of cancer or heart disease).
- Lenient Weight Guidelines for Females: While most life insurance companies have different weight guidelines for their male and female applicants, SBLI offers a unisex build chart for their applicants, resulting in more lenient weight guidelines for female applicants. (General guidelines for life insurance tend to offer more weight leniency for males).
- Gender Specific Cancer Guidelines: If an immediate family member of yours was treated for cancer, many life insurance companies will charge you a higher rate for your life insurance, regardless of the type of cancer that was treated. SBLI, on the other hand, will not consider any gender specific cancers when approving your life insurance application.
Who Can Apply For No Paramed Life Insurance with SBLI?
Savings Bank Life Insurance accepts applicants who meet the following criteria:
Name of No Paramed Term Policy: Guaranteed Level Premium Term
Ages Accepted: 18 to 60
Coverage Available: $100,000 to $500,000
Terms Available: 10, 15, 20, 25, and 30 years (depending on age of applicant)
Rate Classes Available: Preferred Best, Preferred, Standard Plus, Standard, and all Sub-Standard risk classes
State Restrictions: Available in all states except New York and Montana
Riders Available: Accelerated Death Benefit Rider, Waiver of Premium, Children’s Level Term Rider
Riders Available:
*Product features and rider availability may vary by state and age.
What are the Requirements for Approval of my SBLI Policy?
The following requirements are needed to approve a no paramed life insurance policy with SBLI:
- Phone interview with an underwriter
- Review of Medical Information Bureau records
- Review of prescription database history
- Review of driving record
- Medical records from your doctor may be reviewed
*Most no paramed life insurance applications are approved within a week, but if medical records are requested, the application may take longer. SBLI will not request a medical exam regardless of the outcome of the phone interview, but they reserve the right to decline your application for coverage if your health, lifestyle, or income does not meet their requirements for approval.
How Much Can I Expect to Pay For My SBLI Policy?
The chart below illustrates actual rates for applicants who are in excellent health. We’ve outlined the coverage amounts that are most frequently purchased from this insurance carrier.
Actual Life Insurance Rates for SBLI’s No Paramed, 10-Year Term Life Insurance Policies
| $250,000 | $500,000 | |||
| Age | Female | Male | Female | Male |
| 20 | $10.34 | $13.92 | $13.05 | $18.27 |
| 25 | $10.34 | $13.92 | $13.05 | $18.27 |
| 30 | $10.34 | $13.92 | $13.05 | $18.27 |
| 35 | $10.98 | $13.92 | $13.92 | $18.27 |
| 40 | $13.96 | $16.25 | $17.70 | $23.75 |
| 45 | $16.93 | $22.64 | $26.66 | $29.39 |
| 50 | $22.87 | $27.67 | $38.08 | $45.70 |
| 55 | $32.23 | $42.28 | $55.78 | $74.56 |
| 60 | $48.22 | $68.32 | $83.13 | $127.32 |
*Displayed rates are for an individual in excellent health and are accurate as of 04/01/2017. Rates are provided for illustrative purposes only.
Principal Financial Group
The Principal Financial Group is a publicly traded company on the New York Stock Exchange (PFG) and was founded in 1879 by Edward Temple. Principal currently operates in 18 countries with over 19 million customers and they are headquartered in Des Moines, Iowa. The AM Best Company affirmed the Principal Financial Group as an “A+ Superior” rated company in January 2016.
Principal only offers their no exam life insurance products to applicants in good to excellent health for their age. Because Principal only accepts applicants in excellent health, they tend to be more liberal with coverage amounts. Below we’ve outlined the unique niches that Principal offers their applicants:
- Up to $1,000,000 of Life Insurance: Principal Financial Group is one of the few life insurance companies that is willing to offer their clients more than $500,000 of term life insurance without a medical exam.
- Fast Approval Time: The majority of Principal’s no exam life insurance applicants are approved or denied coverage within 48 hours of applying, whereas many carriers can take a week or longer to decide
- Less Than $100,000 of Life Insurance: Principal is one of a few companies that offers less than $100,000 of no exam term life insurance. The minimum coverage amount offered by Principal for their no exam life insurance policies is $50,000.
- Term, UL, IUL, VUL, and SL Products Available: If you’re shopping for no exam life insurance, but don’t want to purchase a term life insurance policy, Principal may be your best bet because they offer various forms of universal life insurance including Indexed Universal Life Insurance and Variable Universal Life Insurance.
- Gender Specific Cancer Guidelines: When applying for life insurance, Principal will disregard the applicant’s family history of cancer if the cancer only affected an immediate family member of the opposite sex. (The only exception to this rule is colon cancer).
- Age Specific Height and Weight Guidelines: Principal is one of the only life insurance companies that offer more lenient height and weight guidelines for applicants after the age of 45. (Most life insurance companies do not offer any leniency on their height and weight guidelines until after the age of 60 or 65).
Who Can Apply For No Medical Exam Life Insurance with Principal?
Principal Financial Group accepts applicants who meet the following criteria:
Name of Non-Medical Term Policy: Accelerated Underwriting
Ages Accepted: 18 to 60
Coverage Amounts Available: $50,000 to $1,000,000 (until age 60)
Terms Available: 10, 15, 20, and 30 years (depending on age of applicant)
Rate Classes Available: Super Preferred, Preferred
State Restrictions: Available in all states
Riders Available: Conversion Options, Accelerated Death Benefit Rider
*Product features and rider availability may vary by state and age.
What are the Requirements for Approval of my No Exam Policy from Principal?
The following requirements are needed to approve a no exam life insurance policy with Principal:
- Phone interview with an underwriter
- Review of Medical Information Bureau records
- Review of prescription database history
- Review of driving record
- Medical records from your doctor may be reviewed
*Most no exam life insurance applications are approved within 48 hours, but if medical records are requested, the application may take longer. Principal may request an in-home exam depending on the outcome of the phone interview and/or medical records review.
How Much Can I Expect to Pay For My Principal Policy?
The chart below illustrates actual rates for applicants who are in excellent health. We’ve outlined the coverage amounts that are most frequently purchased from this insurance carrier.
Actual Life Insurance Rates for a No Exam, 10-Year Term Life Insurance Policy from Principal
| $250,000 | $500,000 | |||
| Age | Female | Male | Female | Male |
| 20 | $11.38 | $12.03 | $16.19 | $17.50 |
| 25 | $11.38 | $12.03 | $16.19 | $17.50 |
| 30 | $11.38 | $12.03 | $16.19 | $17.50 |
| 35 | $11.38 | $12.03 | $16.19 | $17.50 |
| 40 | $12.96 | $13.78 | $19.36 | $21.00 |
| 45 | $16.63 | $18.38 | $26.69 | $30.19 |
| 50 | $22.29 | $26.03 | $38.02 | $45.50 |
| 55 | $31.06 | $39.73 | $55.56 | $72.89 |
| 60 | $44.41 | $63.22 | $119.88 | $82.25 |
*Displayed rates are for an individual in excellent health and are accurate as of 04/01/2017. Rates are provided for illustrative purposes only.
Lincoln Financial Group (Lincoln National Corporation)
Lincoln Financial Group, a Fortune 250 American holding company, was founded in 1905 in Fort Wayne, Indiana. The Lincoln Financial Group is a publicly traded company on the New York Stock Exchange (LNC) and is the naming rights sponsor of the Philadelphia Eagles stadium, Lincoln Financial Field. On December 13, 2016, AM Best affirmed Lincoln Financial Insurance Group’s financial strength assigning them with an “A+ Superior” rating.
Lincoln offers no exam term life insurance to applicants in average to excellent health and they offer extremely competitive rates to tobacco users. If you’ve ever used tobacco, or currently use tobacco, Lincoln will likely provide your best options for no exam term life insurance coverage. We’ve outlined some of the competitive advantages that Lincoln is able to offer their applicants below:
- Conversion Options for Permanent Coverage: Lincoln Financial Group will allow you to convert your term life insurance policy to a permanent policy without completing a medical exam or proving insurability. If you determine that you still need coverage past the length of your initial term, you can extend your policy without re-qualifying for coverage. (Having the ability to convert your coverage has been invaluable to some of our clients who would have otherwise been uninsurable due to health issues).
- Non-Tobacco Rates for Some Tobacco Users: If you smoke cigars, pipes or chew tobacco, Lincoln will offer you a non-tobacco rate as long as you have not smoked cigarettes or e-cigarettes within 12 months of applying for coverage. Lincoln is one of the only life insurance companies in the industry that offers this leniency for tobacco users.
- Preferred Tobacco Rates: Most life insurance companies that offer no exam life policies will not accept applicants who use tobacco or smoke cigarettes. Lincoln provides leniency for non-cigarette smoking tobacco users and they offer a “preferred tobacco” rate to applicants in good health that smoke. Most no exam companies will not offer better than a “standard tobacco” rate to applicants that use tobacco, making Lincoln’s rates at least 20-30% lower than their competition.
- Preferred Non-Tobacco Rates for Applicants Who Quit Smoking More than 24 Months Ago: Most insurance companies will not approve an applicant at a “preferred” rate class until they have been cigarette free for at least three to five years. Lincoln offers “preferred non-tobacco” rates to applicants in good health that have been cigarette free for 24 months or more.
- Lenient Weight Guidelines for Males and Females: Lincoln offers some of the most lenient build (height and weight) guidelines in the industry. With Lincoln, a male or female that is 5’10” and 216 pounds can still qualify for a “preferred” rate class if they are in overall good health.
Who Can Apply For No Medical Exam Life Insurance with Lincoln?
Lincoln Financial Group accepts applicants who meet the following criteria:
Name of Non-Medical Term Policy: Lincoln TermAccel
Ages Accepted: 18 to 50
Coverage Amounts Available: $100,000 to $500,000
Terms Available: 15, 20, and 30 years (depending on age of applicant)
Rate Classes Available: Preferred Best, Preferred, Standard, Preferred Tobacco, and Standard Tobacco
State Restrictions: Available in all states except New York
Riders Available:
*Product features and rider availability may vary by state and age.
What are the Requirements for Approval of my No Exam Policy from Lincoln?
The following requirements are needed to approve a no exam life insurance policy with Lincoln:
- Phone interview with an underwriter
- Review of Medical Information Bureau records
- Review of prescription database history
- Review of driving record
- Medical records from your doctor may be reviewed, but are not required
*Most no exam life insurance applications with Lincoln are approved within a week, but if medical records are requested, the application may take longer.
How Much Can I Expect to Pay For My Lincoln Policy?
The chart below illustrates actual rates for applicants who are in excellent health. We’ve outlined the coverage amounts that are most frequently purchased from this insurance carrier.
Actual Life Insurance Rates for a No Exam, 15-Year Term Life Insurance Policy from Lincoln
| $250,000 | $500,000 | |||
| Age | Female | Male | Female | Male |
| 20 | $10.07 | $10.81 | $14.44 | $15.62 |
| 25 | $10.07 | $10.81 | $14.44 | $15.62 |
| 30 | $10.42 | $10.81 | $14.88 | $15.62 |
| 35 | $10.72 | $11.25 | $15.76 | $16.19 |
| 40 | $12.92 | $13.79 | $20.57 | $21.01 |
| 45 | $18.38 | $23.19 | $30.63 | $39.38 |
| 50 | $25.56 | $33.26 | $42.88 | $59.94 |
*Displayed rates are for an individual in excellent health and are accurate as of 04/01/2017. Rates are provided for illustrative purposes only.
Securian Financial Group (Formerly Minnesota Life)
Securian Financial Group, formerly known as Minnesota Life, was founded by Russell Door in 1880. Headquartered in St. Paul, Minnesota, Securian has more than 16 million clients in the United States and Puerto Rico. They are also the parent company of a number of other investment insurance companies including Allied Solutions, Capital Financial Group, American Modern Life Insurance Company, and Minnesota Life. In November, 2016 AM Best affirmed Securian Financial Group as an “A+ Superior” rated insurance company.
Securian offers their no exam life insurance products to applicants in fair to excellent health and also to applicants who use tobacco. We’ve outlined some of the unique niches that Securian Financial Group is able to offer their clients below:
- Options for Tobacco Users: Most life insurance companies will not offer policies to a tobacco user without requiring a medical exam. Securian Financial Group offers a “standard tobacco” rate class to their applicants who smoke cigarettes, cigars, e-cigarettes, or chew tobacco.
- Less Than $100,000 of Term Life Insurance: Securian offers less than $100,000 of life insurance to clients who are applying for a 10 or 20 year term policy (the minimum coverage amount is $50,000). Very few life insurance companies offer less than $100,000 of term life insurance making Securian Financial Group the ideal choice for clients who need $50,000 to $99,000 of coverage.
- Whole Life Insurance Options Available: Whole life insurance options are available from Securian for applicants between the ages of 0 to 55. These policies do not require an exam and offer $10,000 to $249,999 of coverage at a “preferred” or “standard” rate class.
- Juvenile Options Available: Securian Financial Group offers whole life insurance options to applicants under the age of 16 without requiring an exam. Applicants ages 0 to 15, or their parents, can apply for $10,000 to $249,999 of lifetime coverage with fixed rates.
- Lenient Weight Guidelines: Like SBLI, Securian offers a unisex build chart for their applicants, resulting in more lenient weight guidelines for female applicants. They also have very lenient build charts for males as well. For example, an applicant who is 6’0” tall can weigh up to 244 pounds and still qualify for coverage.
- Quick Approvals: In many cases, Securian is able to approve and issue your life insurance policy within 24 hours of completing your telephone interview. (Most companies require 48 hours to a week for an approval of a no exam life insurance application).
Who Can Apply For No Medical Exam Life Insurance with Securian Financial Group?
Securian Financial Group accepts applicants who meet the following criteria:
Name of Non-Medical Term Policy: WriteFit Express
Ages Accepted: 16 to 55
Coverage Amounts Available: $50,000 to $249,999 for term life policies and $10,000 to $249,999 for whole life policies
Terms Available: 10, 15, 20, and 30 years (depending on age of applicant)
Risk Classes Available: Preferred, Standard, and Standard Tobacco
State Restrictions: Available in all states.
Riders Available:
*Product features and rider availability may vary by state and age.
What are the Requirements for Approval of my No Exam Policy from Securian?
The following requirements are needed to approve a no exam life insurance policy with Securian:
- Phone interview with an underwriter
- Review of Medical Information Bureau records
- Review of prescription database history
- Review of driving record
- Medical records from your doctor may be reviewed
*Most no exam life insurance applications are approved within a week, but if medical records are requested, the application may take longer for approval.
**Securian Financial Group reserves the right to request other evidence of insurability as they deem necessary.
How Much Can I Expect to Pay For My Securian Policy?
The chart below illustrates actual rates for applicants who are in excellent health. We’ve outlined the coverage amounts that are most frequently purchased from this insurance carrier.
Actual Life Insurance Rates for a No Exam 10-Year Term Life Insurance Policy from Securian
| $100,000 | $200,000 | |||
| Age | Female | Male | Female | Male |
| 20 | $10.56 | $11.09 | $16.72 | $17.78 |
| 25 | $10.56 | $11.09 | $16.72 | $17.78 |
| 30 | $10.56 | $11.18 | $16.72 | $17.95 |
| 35 | $10.56 | $11.44 | $16.72 | $18.48 |
| 40 | $13.29 | $15.05 | $20.18 | $25.70 |
| 45 | $16.54 | $20.68 | $28.69 | $36.96 |
| 50 | $22.35 | $28.42 | $40.30 | $52.45 |
| 55 | $30.80 | $39.86 | $57.20 | $75.33 |
*Displayed rates are for an individual in excellent health and are accurate as of 06/15/2017. Rates are provided for illustrative purposes only.
Transamerica Life Insurance Company
The Transamerica Corporation was founded in San Francisco in 1928 by Amadeo Giannini, who was also the founder of Bank of America. Since 1928, Transamerica has grown to become one of the largest life insurance companies in the United States. It is well-known for its famous landmark building in San Francisco, the Pyramid Building. In 2017, AM Best reaffirmed Transamerica’s “A+ Superior” rating.
Transamerica offers their no exam life insurance products to applicants in fair to excellent health for their age. They also have their own niches that set them apart from other carriers that offer insurance without an exam. We’ve outlined them below:
- Less Than $100,000 of Life Insurance: Transamerica is one of the few life insurance companies that offers their clients less than $100,000 of term life insurance. This makes them ideal for clients who need $25,000 to $99,000 of life insurance because most life insurance companies offer a minimum of $100,000 of term life insurance.
- Accepts Applicants Up to Age 70: Transamerica will offer up to $50,000 of no exam term life insurance to applicants until the age of 70. This is extremely beneficial because most life insurance companies do not have non-medical term life insurance policies available to applicants who are over the age of 50.
- Leniency for Applicants with Sleep Apnea: If you have mild sleep apnea, but do not use a CPAP machine, Transamerica may be your best option for affordable term life insurance without an exam. Transamerica is one of the only companies that will offer a “standard” rate to their applicants who do not use a CPAP machine nightly.
- Annuitized Payout Options: With Transamerica, the insured can select an annuitized death benefit payout known as an “Income Provider Option.” When you pass away, Transamerica will make annual payments to your beneficiary instead of paying a one-time lump sum. This option can also reduce the cost of your life insurance by up to 30%.
- Conversion Options for Permanent Coverage: Transamerica allows their term life policy holders to convert their coverage into a permanent life insurance policy without completing a medical exam or reviewing their medical records. If you determine that you still need coverage past the length of your initial term, you can extend your coverage regardless of your current health or insurability. (Having the ability to convert your coverage has been invaluable to some of our clients who would have otherwise been uninsurable due to health issues).
Who Can Apply For No Medical Exam Life Insurance with Transamerica?
Transamerica accepts applicants who meet the following health and age criteria:
Name of Non-Medical Term Policy: Trendsetter Super
Ages Accepted: 18 to 70
Coverage Amounts Available: Up to $100,000 until age 60 and up to $50,000 until age 70
Terms Available: 10, 15, 20, 25, and 30 years (depending on age of applicant)
Rate Classes Available: Preferred Best, Preferred, Standard Plus, Standard, and all Sub-Standard risk classes
State Restrictions: Available in all states
Riders Available: Waiver of Premium Rider, Accident Double Indemnity Rider
*Product features and rider availability may vary by state and age.
What are the Requirements for Approval of my No Exam Policy from Transamerica?
The following requirements are needed to approve a no exam life insurance policy with Transamerica:
- Phone interview with an underwriter
- Review of Medical Information Bureau records
- Review of prescription database history
- Review of driving record
- Medical records from your doctor may be reviewed
*Most no exam life insurance applications are approved within a week, but if medical records are requested, the application may take longer.
**Transamerica reserves the right to request other evidence of insurability as it deems necessary.
How Much Can I Expect to Pay For My Transamerica Policy?
The chart below illustrates actual rates for applicants who are in excellent health. We’ve outlined the coverage amounts that are most frequently purchased from this insurance carrier.
Actual Life Insurance Rates for a No Exam 10-Year Term Life Insurance Policy from Transamerica
| $25,000 | $50,000 | |||
| Age | Female | Male | Female | Male |
| 20 | $7.35 | $8.36 | $9.55 | $11.57 |
| 25 | $7.33 | $7.85 | $9.50 | $10.54 |
| 30 | $7.40 | $8.11 | $9.63 | $11.05 |
| 35 | $7.70 | $8.64 | $10.23 | $12.13 |
| 40 | $8.41 | $9.59 | $11.65 | $14.02 |
| 45 | $10.30 | $11.14 | $15.44 | $17.11 |
| 50 | $11.72 | $13.93 | $18.28 | $22.70 |
| 55 | $14.38 | $18.28 | $23.61 | $31.39 |
| 60 | $21.76 | $25.82 | $38.36 | $46.48 |
| 65 | $33.41 | $41.32 | $61.66 | $77.49 |
| 70 | $52.80 | $68.20 | $100.45 | $131.24 |
*Displayed rates are for an individual in excellent health and are accurate as of 07/01/2017. Rates are provided for illustrative purposes only.
Sagicor Financial Corporation
Sagicor Financial Corporation is a multi-national company that offers insurance, investment, banking, and annuities services. Originally founded in 1849, Sagicor’s U.S. operations are based in Scottsdale, Arizona and they also have a presence in the United Kingdom, the United States, Barbados, Central America, the Bahamas, Trinidad, Tobago, and the Eastern Caribbean. Sagicor is rated as an “A- Excellent” company by AM Best.
Sagicor was one of the first life insurance companies in the United States to offer term life insurance without requiring a medical exam. In addition, Sagicor is one of the few no exam life insurance companies that provide coverage to applicants that use tobacco. Below we’ve explained what sets Sagicor apart from its competitors.
- Permanent Life Insurance Options: Sagicor offers term life insurance, whole life insurance, and “no-lapse” universal life insurance to applicants without a medical exam. No-lapse universal life insurance works just like term life insurance but it has guaranteed rates and coverage until the age of 120.
- Options for Tobacco Users: Most life insurance companies will not offer a policy to a tobacco user without requiring a medical exam. Sagicor offers a “preferred tobacco” rate class and a “standard tobacco” rate class to their applicants who smoke cigarettes, cigars, e-cigarettes, or chew tobacco.
- No Exam Options for Diabetics: The majority of no exam life insurance policies will not offer coverage to applicants that are diabetic. Sagicor offers its term and permanent life insurance products to diabetics who do not require insulin to control their blood sugar.
- Fast Approval: Sagicor’s healthy applicants are usually approved for their life insurance policy in as little as 24 hours (the fastest in the industry). If medical records are requested for review, based on the applicant’s health, most Sagicor policies are approved in less than a week.
- Electronic Policy Delivery: In addition to offering the fastest approval times in the industry, Sagicor offers electronic delivery for their term life products. Most life insurance companies mail a copy of the policy to their applicants, slowing down the amount of time it takes for the policy to become active by up to a week.
Who Can Apply For No Medical Exam Life Insurance with Sagicor?
Sagicor Financial Corporation accepts applicants who are able to meet the following criteria:
Name of Non-Medical Term Policy: Sage Term Life
Ages Accepted: 16 to 65
Coverage Amounts Available: $50,000 to $500,000 for term products, $25,000 to $250,000 for whole life policies, and $25,000 to $400,000 for no lapse universal life coverage up to age 120
Terms Available: 10, 15, 20 years (depending on age of applicant) or permanent life insurance options until age 120
Rate Classes Available: Preferred, Standard, Preferred Tobacco, Standard Tobacco, and Sub-Standard risk classes
State Restrictions: Available in all states except New York, Montana, Vermont, Maine, Alaska, and Connecticut
Riders Available: Accelerated Death Benefit, Conversion Options, Nursing Home Confinement Rider
*Product features and rider availability may vary by state and age.
What are the Requirements for Approval of my No Exam Policy from Sagicor?
The following requirements are needed to approve a no exam life insurance policy with Sagicor:
- Phone interview with an underwriter
- Review of Medical Information Bureau records
- Review of prescription database history
- Review of driving record
- Medical records from your doctor may be reviewed, depending on the outcome of a phone interview and the MIB review
*Most no exam life insurance applications with Sagicor are approved within 24 hours to a week, even if medical records are requested for review.
How Much Can I Expect to Pay For My Sagicor Policy?
The chart below illustrates actual rates for applicants who are in excellent health. We’ve outlined the coverage amounts that are most frequently purchased from this insurance carrier.
Actual Life Insurance Rates for a No Exam 10-Year Term Life Insurance Policy from Sagicor Financial
| $50,000 | $250,000 | |||
| Age | Female | Male | Female | Male |
| 20 | $7.98 | $8.87 | $12.07 | $16.59 |
| 25 | $8.23 | $9.17 | $12.28 | $18.18 |
| 30 | $8.71 | $9.53 | $14.55 | $20.02 |
| 35 | $9.19 | $9.88 | $18.90 | $21.86 |
| 40 | $10.77 | $11.42 | $25.10 | $27.64 |
| 45 | $13.11 | $14.26 | $33.84 | $38.60 |
| 50 | $15.87 | $18.06 | $44.89 | $53.35 |
| 55 | $20.16 | $25.36 | $60.79 | $83.67 |
| 60 | $24.62 | $37.62 | $73.21 | $138.04 |
| 65 | $36.25 | $57.78 | $114.49 | $224.95 |
*Displayed rates are for an individual in excellent health and are accurate as of 06/15/2017. Rates are provided for illustrative purposes only.
Mutual of Omaha (United of Omaha)
Mutual of Omaha, also known as United of Omaha, was founded in Omaha, Nebraska in 1909. The Mutual of Omaha company is well-known for its sponsorship of the many PGA Golfers, the USA Swimming Team, Indy Car circuit driver Marco Andretti, and the Wild Kingdom show that aired for over 25 years until 1988. In December 2016, AM Best affirmed Mutual of Omaha’s financial stability with an “A+ Superior” rating.
Mutual of Omaha offers a variety of no exam life insurance products including whole life insurance, guaranteed issue life insurance, and term life insurance. We’ve explained some of their competitive advantages below:
- Return of Premium: If you outlive your return of premium life insurance policy from Mutual of Omaha, you’ll receive a full refund for the cost of your coverage. If you pass way during the term of your policy, your beneficiary will still receive the full death benefit from your policy. The only downside to this benefit is that these policies are more expensive than standard term life insurance policies that do not offer a return if you outlive your coverage.
- Less Than $100,000 of Term Life Insurance: Mutual of Omaha offers a minimum of $25,000 of term coverage to its clients, which is rare. Most life insurance companies offer no less than $100,000 of term life insurance with or without an exam. If you need a small amount of coverage for final expenses, Mutual of Omaha may have your best options.
- Annually Renewable Life Insurance: Clients often ask, “What happens if I outlive my term life insurance policy?” With Mutual of Omaha, you can annually renew your policy until the age of 100 without proving insurability. Last year we worked with a client that was diagnosed with breast cancer right before her term policy ended. Without this option, she would have been unable to re-qualify for a new life insurance policy.
- Waiver of Premium for Unemployment or Disability: If you become unemployed or disabled, Mutual of Omaha will take over the payments for your policy if you purchase a Waiver of Premium rider or a Disability Waiver of Premium rider. A “rider” is an add-on that can be purchased to provide additional protection to the insured. All riders must be added when you initially purchase your policy.
- Living Benefit Rider: Another rider that Mutual of Omaha offers is a “Living Benefit Rider.” Here’s how it works: If a doctor diagnoses you as terminally ill, Mutual of Omaha will allow you to access up to 80% of the face amount of your policy’s death benefit. There are no restrictions on how this money is spent. It can be used to pay off outstanding debts, doctor’s bills, treatments, or to pay for a dream vacation. If you do not pass away from the terminal illness, you are not required to pay this amount back.
Who Can Apply For No Medical Exam Life Insurance with Mutual of Omaha?
Mutual of Omaha accepts applicants who are able to meet the following criteria:
Name of Non-Medical Term Policy: Term Life Express
Ages Accepted: 18 to 65
Coverage Amounts Available: $25,000 to $300,000 until age 50 and $25,000 to $250,000 until age 65
Terms Available: 10, 15, 20, and 30 years (depending on age of applicant) and lifetime coverage options available
Rate Classes Available: Standard, Standard Tobacco, Sub-Standard, and Sub-Standard Tobacco risk classes
State Restrictions: Available in all states
Riders Available: Other Insured Rider, Waiver of Premium, Accidental Death Benefit Rider, Children’s Term Rider
*Product features and rider availability may vary by state and age.
What are the Requirements for Approval of my No Exam Policy from Mutual of Omaha?
The following requirements are needed to approve a no exam life insurance policy with Mutual of Omaha:
- Phone interview with an underwriter
- Review of Medical Information Bureau records
- Review of prescription database history
- Review of driving record
- Medical records from your doctor may be reviewed
*Most no exam life insurance applications are approved within a week, but if medical records are requested, the application may take longer for approval.
How Much Can I Expect to Pay For My Mutual of Omaha Policy?
The chart below illustrates actual rates for applicants who are in excellent health. We’ve outlined the coverage amounts that are most frequently purchased from this insurance carrier.
Actual Life Insurance Rates for a No Exam 10-Year Term Life Insurance Policy from Mutual of Omaha
| $50,000 | $250,000 | |||
| Age | Female | Male | Female | Male |
| 20 | $9.92 | $11.26 | $28.26 | $34.93 |
| 25 | $9.88 | $11.26 | $28.04 | $34.93 |
| 30 | $10.50 | $12.19 | $31.15 | $39.61 |
| 35 | $11.93 | $13.97 | $38.27 | $48.51 |
| 40 | $13.39 | $16.95 | $45.61 | $63.41 |
| 45 | $17.98 | $22.47 | $68.53 | $91.00 |
| 50 | $23.41 | $31.91 | $95.68 | $138.17 |
| 55 | $31.33 | $47.88 | $135.28 | $218.05 |
| 60 | $44.86 | $65.46 | $202.92 | $305.94 |
| 65 | $71.20 | $105.95 | $334.64 | $508.41 |
*Displayed rates are for an individual in excellent health and are accurate as of 06/15/2017. Rates are provided for illustrative purposes only.
Assurity Life Insurance Company
Assurity Life Insurance Company was founded in 2007 as the result of a merger between three century-old life insurance companies: Security Financial Life, Lincoln Direct Life, and Woodmen Accident and Life. The Assurity Company maintains their headquarters in Lincoln, Nebraska; the same city that its three predecessors were founded in during the 1890s.
In 2017, AM Best reaffirmed Assurity’s financial stability rating as an A- (Excellent) company with a “stable outlook”. Assurity currently manages more than 2.6 billion in assets, and their no exam life insurance products are offered in every state but New York.
What Sets Assurity’s No Exam Life Insurance Policies Apart from The Competition?
Assurity offers a variety of no exam term life, whole life, and universal life insurance products at competitive rates. They also offer a wide array of “riders” or additional benefits that can added to your life insurance policy for an additional fee. We’ve outlined a handful of Assurity’s competitive advantages below:
- Conversion Option: Assurity will allow you to convert your no exam term life insurance policy into a permanent or “lifetime” policy before your term expires. This is a great strategy for anyone who has had health issues that prevent them from qualifying for a new policy.
- Leniency for Tobacco Users and Multiple Tobacco Rate Classes: Most no exam life insurance policies will not accept cigarette smokers or tobacco users. Assurity offers three different rate classes to their no exam applicants making them one of the most competitive no exam companies in the industry for healthy tobacco users.
- Return of Premium: For an additional cost, Assurity offers a Return of Premium rider on all of their term life insurance policies. With a Return of Premium Rider, if you outlive your term policy, all of your payments are refunded when your term expires.
- Disability Waiver of Premium Rider: For an additional cost, Assurity offers a “waiver of premium rider” to their no exam term life insurance clients. If you become disabled for more than 60 days, Assurity will “waive” your monthly premiums allowing you to keep your life insurance policy active at no cost.
- Lenient Weight Guidelines for Males and Females: Assurity offers extremely lenient height and weight guidelines to their no exam applicants. As an example, a 45 year-old, 5’10” male can weigh up to 250 pounds and still qualify for a “select” or preferred rate class with Assurity.
- Critical Illness Rider: If you purchase the “critical illness rider” and suffer from a heart attack, stroke, kidney failure, paralysis, require an organ transplant, or are diagnosed with invasive cancer while insured with Assurity, you can receive up to 100% of your policy’s death benefit. This money can be used as needed to pay off medical bills, debts, or as replacement income so you can take time off work to get better.
Who Can Apply For No Medical Exam Life Insurance with Assurity?
Assurity accepts applicants who are able to meet the following criteria:
Name of Non-Medical Term Policy: LifeScape NonMed Term 350
Ages Accepted: 18 to 65
Coverage Available: $50,000 to $350,000
Terms Available: 10, 15, 20 or 30 years (Depending on age of applicant) and lifetime coverage options available
Rate Classes Available: Select Plus Non-Tobacco, Select Non-Tobacco, Standard Non-Tobacco, Select Plus Tobacco, Select Tobacco, Standard Tobacco
State Restrictions: Available in all states except New York
Riders Available: Accelerated Benefits Rider, Waiver of Premium, Other Insured Term, Monthly Disability Income, Accident Only Disability Income, Children’s Term Insurance, Critical Illness Benefit, Return of Premium
*Product features and rider availability may vary by state and age.
What are the Requirements for Approval of my No Exam Policy from Assurity?
The following requirements are needed to approve a no exam life insurance policy with Assurity:
- Phone interview with an underwriter
- Review of Medical Information Bureau records
- Review of prescription database history
- Review of driving record
- Medical records from your doctor may be reviewed, depending on the outcome of a phone interview and the MIB review
*Most no exam life insurance applications with Assurity are approved within a few days, even if medical records are requested for review. Some clients may need to answer additional questions after the initial underwriting review is completed to determine their eligibility for coverage.
How Much Can I Expect to Pay for My Assurity Policy?
The chart below illustrates actual rates for applicants who are in excellent health. We’ve outlined the coverage amounts that are most frequently purchased from this insurance carrier.
Actual Life Insurance Rates for a No Exam 10-Year Term Life Insurance Policy from Assurity
| $50,000 | $250,000 | |||
| Age | Female | Male | Female | Male |
| 20 | $7.18 | $8.83 | $11.53 | $19.79 |
| 25 | $7.26 | $8.87 | $11.96 | $20.01 |
| 30 | $7.70 | $8.92 | $14.14 | $20.23 |
| 35 | $8.66 | $10.18 | $18.92 | $26.54 |
| 40 | $9.96 | $12.22 | $25.45 | $36.76 |
| 45 | $12.14 | $15.96 | $36.32 | $55.46 |
| 50 | $15.70 | $21.40 | $54.16 | $82.65 |
| 55 | $21.58 | $30.06 | $83.52 | $125.93 |
| 60 | $29.19 | $42.89 | $121.58 | $190.10 |
| 65 | $43.33 | $67.56 | $192.27 | $313.42 |
*Displayed rates are for an individual in excellent health and are accurate as of 06/15/2017. Rates are provided for illustrative purposes only.
Gerber Life Insurance Company
The Gerber Life Insurance Company was founded 50 years ago as a subsidiary of the Gerber Products Company. Initially known only for their canned baby food products, Gerber began offering life insurance to children in 1967. Over the last 5 decades, the Gerber Life Insurance Company has become a leading life insurance company for adults and juveniles with more than 45 billion in revenues and 3.3 million life insurance policies in force.
The Gerber life insurance company is headquartered in White Plains, New York and they are rated “A” (Excellent) by AM Best for their financial stability. Gerber’s no exam life insurance policy is offered to adults who are between the ages of 50 and 80, regardless of any health issues they may have. Also known as “Guaranteed Issue”, or “Guaranteed Acceptance” life insurance, these policies offer up to $25,000 of coverage with no health questions and no health exam required.
It’s important to note that while these policies are available to anyone regardless of their health, they do not offer full coverage for the first two years, also known as a “waiting period”. During the waiting period, a death due to an accident is fully covered. However, if the insured passes away from a health related issue during the first two years of their policy, their beneficiary will not receive the full death benefit from their policy. Instead, their beneficiary will receive a full refund of the premiums paid into the policy plus 10% interest. After two years, all types of death are covered for the full face amount of the policy.
Because of their mandatory waiting period, we do not recommend Gerber Life Insurance products to applicants in fair or better health. In addition, Guaranteed Issue life Insurance is more expensive than other forms of permanent life insurance coverage that may available to applicants in fair or better health. However, if your health prevents you from qualifying for traditional term or whole life insurance, Gerber’s Guaranteed Issue whole life policy may be the best option available to you.
What Sets Gerber’s Guaranteed Issue Life Insurance Policies Apart from The Competition?
We’ve outlined some of the advantages that set Gerber’s Guaranteed Issue products apart from their competition below:
- Tobacco Use: Gerber offers the same rates to smokers and non-smokers. Some whole life insurance companies charge tobacco users with higher premiums than non-smokers.
- Level Premiums for Life: Many guaranteed issue life insurance policies raise your rates as you get older. With Gerber, your rates and coverage are guaranteed not to change as you get older.
- Guaranteed Protection to Age 100: Companies like AARP offer life insurance policies that are marketed as whole life insurance, but they actually stop offering coverage at the age of 80. With Gerber, your rates and coverage are guaranteed until age 100.
- Fast Approvals: Gerber does not require any medical underwriting for their policies which greatly reduces the amount of time needed to approve and issue a policy.
Who Can Apply for Guaranteed Issue Life Insurance with Gerber Life?
Gerber Life Insurance Company offers their guaranteed acceptance product to applicants who meet the following criteria:
Name of Non-Medical Policy: Guaranteed Life
Ages Accepted: 50 to 80
Coverage Available: $5,000 to $25,000
Terms Available: Coverage extends to age 100 for all policy holders
Rate Classes Available: Male/Female
State Restrictions: Available in all states except Montana, coverage is limited to $15,000 in South Dakota
Riders Available: None
What are the Requirements for Approval of my Policy from Gerber?
The following requirements are needed to approve a Guaranteed Issue life insurance policy with Gerber Life Company:
- Application must be completed over the phone with the person who is being insured.
- Credit card, debit card, or checking/saving account required for automated monthly payments. Payment method must be provided at time of application.
- Electronic signature/acceptance of policy completed through email.
*Gerber’s guaranteed issue policies are typically approved and issued within 7-10 days. Once your policy is approved and accepted, Gerber will mail a copy of your policy to you for your records. Your account will not be charged unless you electronically sign and accept coverage.
How Much Can I Expect to Pay For My Guaranteed Issue Life Insurance Policy?
The chart below illustrates actual rates for applicants based on their age and gender. We’ve outlined the coverage amounts that are most frequently purchased from this insurance carrier.
Actual Life Insurance Rates for a Guaranteed Issue Life Insurance Policy from Gerber Life
| $10,000 | $25,000 | |||
| Age | Female | Male | Female | Male |
| 50 | $28.14 | $38.41 | $68.98 | $94.65 |
| 55 | $35.84 | $46.11 | $88.23 | $113.90 |
| 60 | $46.48 | $56.65 | $114.81 | $140.25 |
| 65 | $55.46 | $68.29 | $137.27 | $169.36 |
| 70 | $68.75 | $87.91 | $170.50 | $218.40 |
| 75 | $90.29 | $124.67 | $224.36 | $310.29 |
| 80 | $152.17 | $220.92 | $379.04 | $550.92 |
*Displayed rates are accurate as of 06/15/2017 and are provided for illustrative purposes only.
If you have questions about Gerber’s policy, or if you would like help determining your best options for coverage, please feel free to give us a call. toll-free at: 855-902-6494. With a few questions about your health and lifestyle, one of our experienced agents will be able to determine your best options for affordable coverage.
How Term Life Advice Can Help You Find the Best No Medical Exam Life Insurance Policy
Our owner-operated agency works with over 60 top-rated life insurance companies. By having access to so many life insurance companies, we’re able to match our client’s with the best policy available for their needs, saving them time and money.
Our services are free and within a matter of minutes we’ll be able to compare dozens of highly-rated companies to make sure you get the most coverage at the best available price. Our agency is based in San Diego, but we’re licensed to sell life insurance in all 50 states and the District of Columbia.
Unlike giant call centers, our agents do not have sales quotas or daily sales goals to meet. We take our time with each client to explain all of the insurance options available to them. Give us a call today, 855-902-6494 or request a free and instant online quote below to compare dozens of companies in less than a minute.
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