Are you seeking the best life insurance plan but want to skip health checks? We have analyzed the top life insurance policies offering coverage without medical exams. We've compiled a list of the top five life insurance companies providing coverage without requiring a visit to the clinic.
Best life insurance with no medical exam: shortlist
- Everyday Life — best variety of no-exam policies
- Ladder — best no-exam term life insurance
- Fidelity Life — best no medical exam life insurance for seniors
- Ethos — best no-exam insurance for quick enrollment
- Haven Life — best simplified issue term coverage
Best life insurance without medical exam in 2023
Our research sought the best companies offering no medical exam life insurance policies. Medical exams can be time-consuming and invasive and reveal conditions that may cause rates to be unaffordable or prevent someone from obtaining a policy.
These companies serve those who wish to enroll in life insurance without the hassle of a medical exam and give you the fastest and most convenient means of acquiring it. We looked at how each company fared among reviewers and assessed what each company offered for coverage.
1. Everyday Life — best variety of no-exam policies
Everyday Life offers policyholders a vast and diverse selection of policies. Everyday Life is a broker, so as a potential policyholder, you have a sea of no-exam life insurance policies at your fingertips. Rates can be as low as $4.61 per month; on average, monthly premiums are roughly $15. Enrollment can be done online, but if you need assistance, you can get it from renowned agents for their quality customer service. Enrollment is easy, too. When you buy life insurance online, no medical exam is required if you purchase via Everyday Life.
This is number one on the list because it offers policy variety, quality customer service, and a dedication to customer satisfaction with its 30-day money-back guarantee. With Everyday Life, you will find a no-exam policy you can be pleased with.
Policies offered: Accidental Death, Term Life, and Whole Life.
2. Ladder — best no-exam term life insurance
Ladder gets its name from how policyholders can scale coverage throughout the policy is active. This is unique because with many term policies, your coverage amount is predetermined, and your only means of customization is adding riders. This is also remarkable for its coverage for a policy without a medical exam up to $3 million. The prices are low, starting at $5 per month.
This agency provides term life insurance policies from several companies, enabling you to find one that meets your needs. The online enrollment process is straightforward. Once you've entered your information, Ladder will provide you with a term life policy you can enroll in immediately. Since it's online, you can do this anywhere at any time.
Policies offered: Term Life.
3. Fidelity Life — best no-exam insurance for seniors
Fidelity Life's reputation as a leader in the life insurance industry dates back to 1896. This company provides no-exam policies under its signature RAPIDecision life insurance products. No medical exam is needed, and it's especially worthwhile for seniors, as those up to age 85 can get a no-exam policy. You don't need to make an appointment with an agent to enroll. Enrollment starts online, and once you get started, you will call Fidelity Life's customer service line to be connected with an agent who'll guide you through the remainder of the process.
Within less than 24 hours (and possibly less than 24 minutes), you can go from needing life insurance to securing affordable life insurance without an exam. Fidelity Life lets you make this significant purchase in the most stress-free way possible.
Policies offered: Accidental Death, Final Expense, Term Life, and Whole Life.
4. Ethos — best no-exam insurance for quick enrollment
Ethos has partnerships with the largest life insurance companies in the industry and specializes in providing term and whole life policies that do not require a medical exam. As a result, you'll be able to get a policy entirely online, going from application to approval within minutes. It features an underwriting engine that uses an algorithm to match policyholders with the best policy. Ethos is the number one no-exam life insurance provider and has generated widespread acclaim across publications and review platforms, including an A+ Better Business Bureau (BBB) rating.
Its term life policies provide coverage up to $2 million, with terms ranging from 10 to 30 years. Ethos' term policies are available to individuals up to 65. Its whole life policies are exclusive to seniors aged 65 to 85, with coverage ranging from $1,000 to $30,000. Whichever policy you enroll in will be yours in minutes — a hallmark of great no-medical-exam life insurance.
Policies offered: Term Life and Whole Life.
5. Haven Life — best simplified issue term coverage
Haven Life issues its coverage through the C.M. Life Insurance Company, a MassMutual subsidiary. This company offers a digital enrollment process, selling one type of no-exam life insurance policy - simplified issue term life insurance. Although no medical exam is needed, you will still have to answer a few health-related questions. Haven Life offers additional benefits, such as accelerated death and level premiums.
Haven Life offers coverage up to $1 million, lasting five to 20 years. This simplified issue term policy is available to anyone between 20 and 55.
Policies offered: Simplified Issue Term Life.
Life insurance with no medical exam: Top policies compared
This table gives a condensed overview of each company listed. We've placed each company side-by-side with their selection, BBB rating, and ability to enroll online. Here are the top five life insurance companies that offer policies with no medical exams and how they compare:
|Company||Policies offered||BBB rating||Online enrollment|
|Everyday Life||Accidental Death, Whole Life, and Term Life||A+||Yes|
|Fidelity Life||Accidental Death, Term Life, and Whole Life||A+||Only with assistance from agent|
|Ethos||Term Life and Whole Life||A+||Yes|
|Haven Life||Simplified Issue Term Life||N/A (not accredited)||Yes|
Ranking the best life insurance quotes with no medical exam
We took a multifaceted approach to ranking the best no-exam policies. We sifted through each company's policies, accolades, and the critical reception they've gotten from publications and policyholders. From there, we organized that information into six criteria, which included:
- Overall value. These companies take pride in their overall value to policyholders, as reflected by how their policies place policyholders and their loved ones in an advantageous position and the acclaim they've garnered over time.
- Policies offered. The variety reflects a company's ability to sell no-exam policies to those in diverse circumstances and satisfy unique motives for enrolling in no-exam life insurance. These companies offer something for everyone.
- Financial strength. A policy is only worthwhile if the insurance company is financially stable to meet when it's time to issue the death benefit. We assessed this through A.M. Best ratings and how these companies ranked among competitors.
Online reputation. Cultivating a positive online reputation is one of a company's most challenging tasks. This is because anonymity empowers online reviewers to be completely honest. When a company is lauded for its quality policies and customer service by a massive group of individuals with no incentive to lie, you can be confident that the company will provide you with a policy you'll be glad you bought.
- Number of complaints. A high number of complaints (especially regarding customer service) can negate any positive features of the company's policies. These companies operate with a high degree of professionalism and treat policyholders as human beings rather than numbers.
- Ease of application. This is at the very core of what the no-exam life insurance application process is meant to be. With these companies, enrollment is straightforward, and the process will feel like an easy application instead of a series of obstacles.
What is life insurance without a medical exam?
Life insurance without a medical exam differs from life insurance with medical exams in a few ways. First, the enrollment process is shorter. There's no scheduling of appointments, no sitting in an office or waiting room, and you eliminate the time spent driving to and from the clinic.
This convenience comes at a cost. Insurance companies tend to charge higher premiums for no-exam policies than policies with exams with the same amount of coverage. This is because insurance companies don't have the same clear picture of your health risks. Labs and tests provide concrete evidence of your quality of health, plus potential risks you may have for developing serious conditions later. Without this, insurers must rely on self-reports and determine a premium rate from that information alone. The rates are even higher with guaranteed issue policies since medical exams and health questions are omitted from the process.
When you apply for life insurance with no exam, you'll answer a series of health-related questions or enroll in the policy without providing any health-related information. The application process can be completed within minutes. Sometimes, you can complete the enrollment process online, eliminating the time spent talking on the phone.
Why would you need a life insurance policy without a medical exam?
The need for a policy without a medical exam may stem from unfavorable circumstances that could result in higher premiums. Insurance companies implement medical exams to determine how much of a risk someone is to insure, meaning the likelihood of that person passing away within a short period. If you have a serious condition or participate in activities that lower life expectancy, enrolling in a policy without a medical exam may be better.
Likewise, those who prefer more expedient enrollment may opt for life insurance without a medical exam because of how quickly the policy can be obtained. The time it takes to arrange an appointment, drive to the clinic, wait for a physician, undergo the exam, and wait for test results can significantly extend the process.
Common reasons include:
- Pre-existing conditions. A pre-existing condition can shorten life expectancy, meaning less time paying premiums. To compensate for this, insurance companies impose higher premiums. If you have a pre-existing condition, it may be better to get a no-exam policy since your pre-existing condition will be less of a factor in determining your rates.
- High-risk occupations. A high-risk occupation always poses a risk of a shortened life expectancy.
- Comfort. Medical exams may feel invasive and uncomfortable. No-exam policies let you skip the discomfort, allowing you to secure a policy without a visit to the clinic.
- Faster enrollment. Medical exams are arguably the most time-consuming aspect of the life insurance enrollment process. You can enroll in a policy within minutes by eliminating this step.
Selecting life insurance type without medical exam
Life insurance is split into several types, differing in the length of time they provide coverage, the common intentions policyholders have when buying them, benefits, and costs. This is what makes life insurance highly personalized. Here, there is no "best" choice - only the optimal choice that best meets the policyholder's personal needs. Age, marital status, and overall life goals can make a policy ideal for specific individuals.
Term life insurance
Term life insurance (and term life insurance without medical exam involvement) limits coverage to a specific number of years. You may enroll in one that provides a death benefit to your loved ones if you pass away within five years, or you may choose one that lasts up to 30 years.
A common reason for purchasing term life insurance is to cover outstanding mortgage balances. It's particularly attractive to younger individuals who have just started a family and purchased their first home. Should the policy owner pass away prematurely, their family won't have to worry about losing the house.
Final expense life insurance
Final expense insurance is a whole life policy. It doesn't expire. The death benefit is typically lower than most life insurance policies, but this lower death benefit reflects its common purpose, which is to cover expenses associated with the immediate costs incurred by loved ones following the policyholder's death - namely funeral costs and medical bills.
With final expense life insurance, no exam is required. This policy is commonly purchased by seniors who need an affordable policy they can quickly obtain as they begin end-of-life planning.
Whole life insurance
Whole life insurance (especially whole life insurance without medical exams) typically costs more due to lifelong coverage and the cash value account feature that many whole life policies have. Cash value grows tax-free, and depending on the type of whole life policy, can increase with interest, stock market performance, the performance of other investment options, or a combination of interest and investment growth.
This policy is more ideal for younger individuals who prioritize long-term financial growth. Younger individuals will have an easier time qualifying and get lower premiums.
Guaranteed life insurance
With guaranteed life insurance, no medical exam or health questions are involved. Guaranteed policies are generally whole life policies that usually require a waiting period of a few years. If the policyholder dies within this time frame, no death benefit will be disbursed. However, the coverage will go into effect once the waiting period has passed.
Alternatively, a company may provide guaranteed life insurance with a graded death benefit, in which the death benefit gradually increases throughout the first few years of the policy before it reaches the total coverage amount that the policyholder signed up for.
Choosing a life insurance policy without medical exam
Even though enrolling in a no-exam process is fast, the decision-making process for choosing the policy you want to enroll in shouldn't be. You must reflect on your options and evaluate your goals. Doing the following will help determine which policy will be the best fit for you:
- Evaluate your needs. Are you single? Do you have a family to provide for? Are you young and planning for the future decades ahead, or are you entering old age and looking to cover end-of-life expenses like your funeral and medical bills? These are questions to ask because life insurance policies are designed to match the goals of policyholders.
- Consider the type of policy. The kind of policy you choose will directly impact the length of coverage, the additional features included, and the expenses the death benefit will be sufficient to cover.
- Prepare to answer health questions. Health questions are common in the enrollment process, and just because a policy is a no-exam doesn't mean it's no-questions. Prepare to provide information about your health history, lifestyle, and hobbies.
- Understand the coverage limits. This can go for both the length of coverage and the coverage amount. Some policies (i.e., term life policies) are not permanent. Not all coverage amounts are sufficient to be considered a windfall; for instance, if you have a $10,000 policy, your coverage will help your loved ones cover your funeral costs, but it won't be enough to cover personal debts.
What if I get rejected?
Some policies will be more challenging to be approved than others. If you're rejected, you can always attempt to enroll in a policy from another company, as some are more lenient than others. You may also seek the expertise of another life insurance agent. Or, if you continue to get rejected, you can get a guaranteed issue policy, which automatically approves individuals up until a certain age, with some approving those as old as 85 years old.
The potential downsides of enrolling in a guaranteed issue policy are that the company may require a waiting period of 2–3 years before your coverage becomes active, and your premiums may be higher than other types of policies with the same level of coverage.
How much does life insurance without a medical exam cost?
Life insurance without a medical exam carries different costs for different individuals. These factors aren't unique to no-exam policies. Whether a policy requires a medical exam or not, insurers will consider the same factors when setting rates. It mostly boils down to the odds of a policyholder passing away shortly after enrolling in a policy. Such factors include:
- Age. One of the most significant factors when insurers decide how much a person's premiums will cost is the applicant's age. The younger a person is, the more payments they can make because of the longer life expectancy. Since older individuals have less time, their premiums will be higher. Costs can get exponentially higher as individuals approach their senior years.
- Health history. The number of years lived isn't the only predictor of the years left to live. Chronic and disabling conditions present a risk of premature death, and insurance companies have to account for this by assigning higher premiums. Likewise, a person's medical past could indicate potential complications.
- Family history. Your rates may be influenced by conditions in your family - even if you don't have the disease. If you're at risk for developing a particular health problem, you will likely pay higher premiums than someone in similar health who doesn't have a family history of the condition you're genetically predisposed to.
- Lifestyle. Unhealthy lifestyle choices cause premiums to go higher. Tobacco use, frequent alcohol consumption, and obesity will result in higher premiums due to these habits' negative impact on life expectancy.
- Coverage amount. The more coverage you sign up for, the higher your monthly rate will be. You cannot expect to pay the same premium for a $50,000 policy as you would for a $500,000 one.
- Credit history. Credit history isn't as heavily scrutinized as the other factors mentioned here, but it does have some influence over how much you'll pay. It is true that if you have a history of poor credit, you may pay slightly more. However, it should be noted that being in the process of filing bankruptcy could cause your policy application to be rejected.
Ultimately, the question is, can you get cheap, affordable insurance without a medical exam? While a combination of the abovementioned factors influences this, the answer is yes. Life insurance quotes (no medical exam) can be instantaneous. For example, Ladder Life insurance provides term life coverage without medical exams, and its rates start at $5 per month.
While a no-exam policy is affordable, what you pay per dollar of coverage is more than what you'd pay for a policy with a medical exam. For example, a $25,000 guaranteed issue policy is much less than an average whole life policy worth $250,000. By nature, guaranteed issue policies don't have medical examination whatsoever. Conversely, the average whole life policy involves a medical exam.
A 50-year-old female opting for a $25,000 guaranteed issue policy would pay $74.47 monthly. For a $250,000 whole life policy, that same 50-year-old female would pay $462 per month. While the guaranteed issue has a considerably cheaper monthly rate, it's actually more expensive when adjusted for cost per dollar of coverage.
Read more about life insurance policies
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