If you’ve been denied life insurance or worry that health complications may hurt your application, look into our top picks for no-exam life insurance.
The 7 Best No-Exam Life Insurance Companies (2024)
with our comparison partner, Policygenius
The MarketWatch Guides team found Mutual of Omaha and Fidelity Life as the best providers for no-exam life insurance. We chose these companies after analyzing over 25 life insurance providers based on our in-depth review methodology. However, since the best life insurance for you will depend on your age, budget and health status, our team recommends consulting with a life insurance advisor before purchasing coverage.
Our Top 7 Picks for No-Exam Life Insurance Companies
After our detailed analysis, we picked these companies as the best options for no-exam life insurance.
- Mutual of Omaha: Best for no-exam coverage
- Fidelity Life: Our pick for accidental death coverage
- Transamerica: Most affordable coverage
- John Hancock: Best for people with diabetes
- State Farm: Best for customer satisfaction
- Lincoln Financial: Best for long-term care
- AAA: Best for coverage transparency
Compare Our Picks for No-Exam Life Insurance Providers
Use the table below to compare the cost and BBB ratings of the top no-exam life insurance providers.
We based cost data on quotes collected for 35- and 45-year-old men and women without a history of tobacco use seeking $250,000 in coverage.
Life Insurance Cost Calculator
The cost of no-exam life insurance depends on factors like your age, the amount of coverage you apply for, and whether the policy is a simplified or guaranteed issue. Overall, no-exam life insurance rates are more expensive than traditional insurance because insurers need to offset the risk of writing a policy with less or no health-related information about the applicant.
What Is No-Exam Life Insurance?
A no-exam life insurance policy does not require applicants to complete a medical exam to be considered for approval. Rather, it uses an accelerated underwriting process to approve applicants more quickly than with a traditional policy. Based on our survey of 1,000 life insurance policyholders, more than 48% of respondents said they obtained coverage without taking a health exam.
There are two types of no-exam life insurance: simplified-issue and guaranteed-issue. Here are the similarities and differences between the two options.
Guaranteed Issue Life Insurance
This form of no-exam coverage accepts all eligible applicants without requiring an exam or asking any questions about their health. Typically, guaranteed issue policies feature higher premium prices and lower levels of coverage because insurers have no insight into the risk level an applicant poses. An example of this type of coverage is Fidelity Life’s RAPIDecision Guaranteed Issue policy, which offers up to $25,000 in coverage to individuals between the ages of 50 and 85.
Simplified Issue Life Insurance
This type of policy does not require a medical exam, but the application process involves health questions and often uses technology to gain insights into your medical history. Insurance companies often request a report from the MIB to evaluate an applicant’s medical risk. Because providers gain information about your health before issuing coverage, simplified issue policies typically offer higher levels of coverage at lower rates than guaranteed issue plans.
Pros of No-Exam Life Insurance
No-exam life insurance plans typically cost more than policies that require a medical exam. Of the two types of no-exam coverage, simplified issue plans generally offer higher coverage amounts at lower rates, while guaranteed issue policies provide lower coverage amounts at higher costs.
Top Life Insurance Riders to Add to No-Exam Life Insurance
1. Long-term care rider
This rider can accelerate a portion of your death benefit if you need long-term care. It can help pay for care at home or in a facility, filling in the gaps that health insurance or Medicare does not cover. This rider may offer value to older policyholders, or more generally, people who want financial protection as they age.
2. Flexible care benefit
This rider offers an accelerated death benefit similar to a long-term care rider. Policyholders who add this rider can access a portion of their death benefit if they become chronically ill.
3. Guaranteed insurability
This is an optional rider that allows you to purchase additional coverage for specified events in the future without having to qualify and undergo additional medical underwriting. For instance, a company may allow you to exercise a guaranteed insurability rider when you get married or have a child. This could offer value if you plan on expanding your family, anticipate future health issues or have a family history of medical problems.
Is No-Exam Life Insurance Worth It?
No-exam life insurance can be worth it if you have been denied traditional life insurance, suffer from chronic, pre-existing medical conditions, or need coverage fast. The major advantages of no-medical-exam life insurance policies include completing the entire application process online or by phone and getting coverage quickly — sometimes instantly.
Traditionally, offering life insurance without requiring a medical exam places insurers at greater risk because they don’t have information about how healthy you are, so companies historically have provided limited coverage at higher rates for no-exam plans. However, companies such as Ethos, TruState and Bestow leverage modern technology to gain insights into applicants’ health status. Gathering health information from sources other than a physical exam allows providers to issue no-exam policies at more affordable rates.
However, if you are in excellent health, need a sizable death benefit or are shopping on a tight budget, no-exam life insurance may not be your best option. We recommend working with a life insurance agent or financial advisor to determine the best coverage options to fit your situation.
Alternatives to No Medical Exam Life Insurance
If you are relatively healthy, buying a traditional term life or permanent life insurance policy, such as whole life, that requires a medical exam may offer more affordable rates and a higher coverage amount.
Traditional life insurance applications typically require a physical exam that includes taking your height and weight, gathering blood and urine samples, and checking your blood pressure. However, the underwriting process can take weeks or even months before you receive approval or denial for coverage.
Frequently Asked Questions About No-Exam Life Insurance
Yes, you can get life insurance without a medical exam. The most common no-exam policies are term life insurance. Permanent policies, like final expense insurance, are also available.
The benefit of no-exam life insurance is the ability to get coverage without a medical exam, the results of which could increase your premiums or prevent you from getting traditional coverage. The simplified application process also means you can obtain coverage much quicker than the traditional method.
In general, no-exam life insurance coverage is more limited than traditionally underwritten coverage, which more thoroughly assesses how much risk a customer poses to the insurer. Guaranteed issue policies don’t require an exam but typically have lower death benefits, while simplified issue policies can offer higher coverage limits since you must answer health questions to qualify.
During the application process, most life insurer health questionnaires will include a few questions regarding COVID-19. Previously having COVID should not impact your ability to purchase new life insurance coverage, according to the Triple-I. However, if you are experiencing long COVID symptoms, that may be considered a chronic condition and could impact your rate.
Methodology: How We Ranked The Best No-Exam Life Insurers
Our team researches and ranks life insurance companies using an in-depth scoring system that considers the factors most important to consumers like you. Our analysis includes a comprehensive review of each provider we feature based on available coverage, customizability, availability, customer service and company reputation. Here are the factors we take into consideration when rating life insurance providers:
- Brand trust (40%): Life insurance payouts can exceed $100,000 or more, which makes choosing a reputable and trustworthy installer important. To assess brand trust, we use J.D. Power and Associates customer satisfaction surveys, AM Best credit rating scores and the National Association of Insurance Commissioners (NAIC) complaint index. The higher a company scores in each area, the more points it receives.
- Coverage (33%): The more policy options a life insurance company offers, the more opportunities you have to obtain the right coverage for your specific needs. For this reason, we give companies the most points for offering multiple types of life insurance, including various term, permanent and no-exam options.
- Availability and ease of use (19%): Since life insurance coverage options can be complex, we consider the ways a customer can reach a company — and how easy communication is. For this category, we research how many communication channels a company offers for general customer support, claims processing and the application process. Companies earn the most points for offering various ways to interact with an agent, both in-person and online.
- Riders (8%): Companies offering various life insurance riders or endorsements allow policyholders to better customize their coverage. In this category, we determine how many riders a company offers and award the most points to providers with more than 10 options.
We use our rating system to compare and contrast each company against key factors to help us determine the best life insurance companies in the industry. To learn more, read our full life insurance methodology for reviewing and scoring providers. AM Best Disclaimer
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