Life Insurance No Medical Exam

No exam life insurance plans offer consumers the chance to apply for and purchase protection without having to take any health examination to qualify.

Types of No Exam Life Insurance:

Permanent life insurance no exam – Provides lifetime coverage for life insurance without requiring you to take any health exam. The rates for this type of coverage are usually much higher than for term life, since it will pay out a claim in the future, if you continue to pay your premiums.

Term life insurance No Exam – Provides temporary life insurance for a set number of years without any exam needed. There are usually several health questions to be answered. You can choose from 10, 15 or 20 years of life insurance coverage with a no exam term life policy. These are level term life plans that have the same premium and amount of coverage through the term (duration) of your coverage.

Graded Benefit Life Insurance – This type of plan offers a limited amount of insurance coverage with high premiums. Full death benefits are not available until you have been insured by the policy for at least 2-3 years, depending on the insurance policy.

Guaranteed Acceptance Life Insurance – Offers people a guaranteed amount of insurance protection without any health exam or questions, usually. The amount of coverage is limited and the rates are high compared to standard policies. These plans may be a good option for people who have been tuned down for life insurance from other insurers due to poor health, their age, weight, diabetes, etc.

Accidental Death Insurance – Offers life insurance that pays out a death benefit as a result of death due to an accident. Some insurers offer up to $1,000,000 of coverage without any medical examinations required and with no health questions necessary.

What are Key Issues to Consider for No Exam Plans?

Age – Some guaranteed plans offer coverage for people age 45-80, while other plans may offer coverage for people age 18 to 78.

Amount of coverage – The amount of coverage available may vary by plan from $7,500 up to $300,000.

Rates – Make sure to review your rate quoted for coverage and how long the rate is guaranteed to remain level – the same, throughout the term or duration of your life insurance policy.

Limited death benefit for how long – Graded benefit coverage provides a limited death benefit for the first 2-3 years you own your policy. If you die during this time-frame, your policy would usually just pay out the premiums you have paid, plus an interest rate on those premiums.

Waiting Period – Is there a waiting period for your policy before full coverage is available? Some plans have a waiting period and others have full coverage from the first day you purchase your policy.

Rate Guarantee for how long – Verify how long your premiums will remain the same each year, or if the premium will increase over time.

Term of coverage – How many years does the policy provide you with life insurance protection?

Important Note: Some plans offer no exam coverage while others do not require you to take a physical exam or answer any health questions.

Common Characteristics of No Exam Policies:

Same day coverage upon approval
No sale pressure – No need to meet with an agent
Online application
Quick approval – Usually within 1 day.

Insurance Companies offering No Exam Coverage:

Globe Life and Accident Insurance Company
Fidelity Life
Garden State Life
Colonial Penn
Mutual of Omaha
Gerber Insurance
AARP/NewYork Life