Whole Life Insurance Quotes No Medical Exam

Getting a Whole Life Policy Without a Medical Exam

Nobody wants to spend too much time thinking about the end of their life. However, leaving loved ones in a financial bind is not a good thought either. While it would be ideal if you could save money throughout your life for these expenses, most people need what they make to live on. It’s not at all uncommon for a couple to hit retirement and have no real plan in place for end-of-life expenses. Luckily, there is still the option of no medical exam whole life insurance. Getting life insurance without a medical exam is ideal for many situations, but you need to shop carefully and understand what these policies offer and, perhaps most importantly, what skipping a medical exam could cost you.

The Benefits of Skipping a Medical Exam

There are several benefits to obtaining a no medical exam whole life insurance policy. One of the main reasons that so many people favor no exam whole life policies is because there is no exclusions when it comes to existing health conditions. Many life insurance carriers will refuse to issue a policy for people who have been diagnosed with cancer, have a history of heart problems or even have been smokers throughout their life. With a whole life insurance no exam policy, you can get coverage no matter what your circumstances or your current medical conditions. If you pass away during the period where the policy is active, your dependents will get a lump-sum payment that can be applied to funeral expenses or helping them maintain their current lifestyle while they make other arrangements. In addition, all whole life policies have a cash value and do not expire, unlike term life plans. In short, if you currently have medical conditions that would normally prevent you from getting a policy, this particular type of screening is ideal for the whole life insurance product.

What a No Exam Policy Will Cost You

Forgoing a medical exam is not without a price. It’s important to realize that most no medical exam whole life insurance policies probably have limitations and exceptions to coverage. It’s very common for this type of coverage to have an exclusion period, often as long as two years, sometimes longer depending on the provider. This means that if any of the policy holders die from natural causes or disease during this time their beneficiaries may be left with a reduced settlement or no payout at all; being involved in an accident may or may not apply to this limitation. In addition, buying a whole life insurance no exam policy can be very expensive – often significantly more than a comparable plan where the insured undergoes an examination. Since costs can be as much as double that of a policy issued without an exam, you should try to exhaust that option first. If you’re absolutely sure that an examination would preclude you from a policy (or you just don’t want to subject yourself to a medical exam) we can help. We work with the nation’s top providers of no medical exam whole life insurance, so use the form at the top of this page to view current rates and select the provider that best-fits your current situation.

2018 ©
925 Peachtree Street NE Ste 615
Atlanta, GA 30309
Call Center (877) 407-6153

All other trademarks and copyrights are the property of their respective holders.

Follow Us:

A Look at Life Insurance Policies with and without a Medical Exam

Many term life insurance carriers require a medical exam when you apply. Some don’t. Here’s a look at the impact of having an exam or not.

Term Life Insurance With No Medical Exam

Term Life Insurance with no medical exam has a tendency to be more expensive than medically underwritten policies. That’s because, generally speaking, the carriers average out everyone’s risk and charge accordingly. So, if you are in good health but choose to purchase term life insurance that does not require a medical exam, you may end up paying a higher premium than necessary.

Most of the life insurance carriers that do not require a medical exam will still inquire about your medical history and lifestyle. Based on your answers, they might set the premium rates higher or lower.

Some companies issue policies without asking any questions about medical history. This increases the risk to them, so they tend to charge higher premiums and set lower coverage amounts.

Term Life Insurance with a Medical Exam

It might seem inconvenient (or even unpleasant) to get a medical exam, but it can benefit you.

The insurance carriers that offer term life insurance with a medical exam, require an exam to get an accurate idea of your health situation. It helps them to rule out health problems, identifying conditions that might increase your risk of dying. Once they know about your health, they can assign you an appropriate rate based on risk. If you’re healthy and your risk of dying seems low, you’re likely to get a lower rate than someone with health issues.

The medical exam is usually performed by a paramedical professional or nurse. For your convenience, you can schedule it at your home or place of work. It usually takes about 30 minutes or less. The exam consists of basics such as checking vital signs, a blood test and urinalysis. In some cases, the carrier may want additional tests, such as an EKG/ECG.

While having a medical exam isn’t usually something to be concerned about, be aware that it can reveal a health condition you weren’t aware of. Also, if you are declined term life insurance based on what the exam reveals, it could impact your ability to become insured elsewhere.

Term Life Insurance With a Conditional Medical Exam

Some term life insurance carriers require a medical exam only if it seems warranted after asking health and lifestyle questions. For example, if they find out that you are a smoker, had a serious illness or want a high coverage amount, they might require an exam.

To learn more about term life insurance and the application process, contact AIG Direct today. Our licensed professionals can help you decide if having a medical exam as part of the application process makes sense for you or not.

Get a Personalized Quote for Term Life Insurance

No Medical Exam Life Insurance

No Exam Life Insurance

No exam life insurance gives you affordable life insurance without the medical exam with the same riders and coverage as a fully underwritten life insurance policy.

No exam life insurance still requires the standard record review and health questions but since there is no medical exam involved, your premiums may be slightly higher.

Getting life insurance without a medical exam is best suited for those who don’t want to deal with the hassle of a paramedical exam and who are in overall good health.

Life Insurance No Medical Exam Comparison Chart

  • No MIB, Rx or MVR check
  • No smoking question
  • No diabetes question
  • No build chart

  • MVD (Motor Vehicle Department records)
  • MIB (Medical Insurance Bureau)
  • RX (pharmacy records)

  • MVD (Motor Vehicle Department records)
  • MIB (Medical Insurance Bureau)
  • RX (pharmacy records)

  • MVD (Motor Vehicle Department records)
  • MIB (Medical Insurance Bureau)
  • RX (pharmacy records)

  • MVD (Motor Vehicle Department records)
  • MIB (Medical Insurance Bureau)
  • RX (pharmacy records)
  • Credit/background check

  • MVD (Motor Vehicle Department records)
  • MIB (Medical Insurance Bureau)
  • RX (pharmacy records)

  • MVD (Motor Vehicle Department records)
  • MIB (Medical Insurance Bureau)
  • RX (pharmacy records)

  • MVD (Motor Vehicle Department records)
  • MIB (Medical Insurance Bureau)
  • RX (pharmacy records)

  • MVD (Motor Vehicle Department records)
  • MIB (Medical Insurance Bureau)
  • RX (pharmacy records)

  • MVD (Motor Vehicle Department records)
  • MIB (Medical Insurance Bureau)
  • RX (pharmacy records)

What Is No Medical Exam Life Insurance?

No medical exam policies are exactly what their name implies: they don’t require you to take a medical exam like traditional life insurance policies do. But, they provide the same guaranteed coverage as those that do require a medical exam. However, no medical or simplified issue policies are typically limited to lower coverage amounts. These policies are typically still fully underwritten with a complete medical questionnaire. Your background review could include the following:

  • Pharmacy report, which lists all medications you’ve been prescribed over the last 5–10 years
  • Motor Vehicle Department report
  • Medical Insurance Bureau report (to see if you’ve applied for or have been denied life insurance in the past)
  • Credit history (only a few insurance companies check this)

When beginning the tedious task of searching for a cheap term life insurance plan, you’re bound to become frustrated with what seems like a never-ending process of information gathering. These companies want to find out everything they can about you: your personal details, your habits, your family history, your health. Not only is it stressfully invasive, but it’s also a huge time commitment.

And one of the most aggravating aspects of the process is the physical exam. Get ready to have to take out a chunk of time during the week to set up an appointment for a para-medical physical exam. Once there, you’ll spend about thirty minutes going through your medical history and your current health. You’ll also have to have blood drawn, and maybe even saliva and urine samples depending on the insurer, for testing. Some companies go so far as to require an EKG, or electrocardiogram, to check your heart health.

After the appointment, you’ll have to wait for the medical examiner to send over the results to your insurance company, all the while you have to sit and wait anxiously to know if anything less-than-perfect showed up on your exam that could affect your access to a good life insurance plan.

While it can seem like a huge inconvenience for you, there are ways to speed up the process and cut out the hassle. One option? A no exam policy.

That’s right. You can bypass the physical exam, altogether.

Why Consider A Life Insurance Plan With No Medical Exam?

The traditional process of obtaining life insurance went something like this: you set up an appointment with your doctor to check out your physical health, the results were shared with the insurance company, an underwriter reviewed your material, and you eventually received your policy about six to eight weeks after the initial contact with an agent.

But for some people, the idea of waiting over a month is either undesirable or unfeasible. Some, for instance, must find a life insurance plan quickly in order to apply for an SBA loan or Small Business Administration Loan. Others find out that their divorce settlement requires life insurance and they must hurry up to find an acceptable insurance plan so that the proceedings continue. In these cases, you might need to get a life insurance plan as soon as possible so as not to disrupt other areas of your life.

For many of us, the idea of forgoing the physical exam altogether is simply appealing. No scheduling in a half-hour appointment. No getting poked and prodded. No stress of wondering whether our medical health is sufficient to get us a good rate or if there’s anything lurking in our tests that we didn’t know about. And, most importantly, no waiting. Just one online survey and you’re done, with some companies approving life insurance plans in as little as a day!

What A No Exam Life Insurance Plan Won’t Do For You

At this point, we should probably level with you. Many people consider a no exam life insurance policy because they are under the impression that they can hide their less-than-ideal health. This isn’t true. If something fishy comes up on an initial review of your information, an underwriter will be called into to a more thorough investigation.

There are a few ways for an underwriter to find out if what you say matches up with your records.

  • The MIB Report – the Medical Information Bureau is an organization that collaborates to share information on client details, such as previous applications for life insurance, health concerns, and dangerous activity. When a life insurance company requests to see your record after you’ve submitted your online application, they’ll be able to cross-check your answers.
  • Motor Vehicle Records – Believe it or not, a pristine driving record can make getting a life insurance policy a whole lot easier. If you’ve gotten a ticket for speeding or have had to contact your department of motor vehicle after an accident, life insurance companies can request that information and make a judgment about whether you’re at higher risk for a driving accident.
  • Pharmacy Reports – Alright, so you’ve opted to avoid the medical exam, but that doesn’t mean that the insurance agent can’t track down your previous history through an Rx report.

How Much Does It Cost?

The good news is that the increased popularity of these plans has made them more competitively priced. A few decades ago it would be difficult to find an insurance company that would allow you to apply without the physical, but these days, more and more insurers are getting on board. Why should you care? Because you now have more competitive options than ever before, and we’re here to help you sift through the best insurance companies out there.

While there are some clear advantages for you to consider a no exam life insurance plan, what does this all mean to the insurer? Well, unfortunately for you, it means higher risk. We say this because when an insurance company issues a policy without conducting a medical examination, they are really rolling the dice with you.

One way that the company covers the risk is to limit the amount of coverage available with no exam policies. Most companies have a maximum coverage amount of $500,000, but some are beginning to increase this to $1,000,000.

The cost you will pay for no medical exam life insurance will vary, of course, depending on the information you enter. But, let’s take a healthy 45-year-old man, for example.

As long as he isn’t a smoker and his health history checks out favorably, he could get a 20-Year Guaranteed Level Term Policy with $100,000 worth of coverage for somewhere between $30 and $50 per month, depending on the insurance company he chooses.

The nice thing about our online comparison engine is that you will have a good idea of what you can expect to pay before even entering your name or contacting us to officially apply.

That said, it’s good to keep in mind that there are a few factors that could raise this rate even more. A history of poor health, for instance, is a difficult thing for insurance companies to swallow. What some people don’t realize is that habits like smoking cigarettes or drinking to excess could double your rate. Even a history of mental illness, as documented in your pharmacy report, could make things a bit more expensive.

How Long Does it Take to Get a Policy?

Oftentimes, no medical exam insurance policies use electronic or voice signatures, so depending on the insurance company, your policy could be issued the same day you apply. You simply go through the steps and wait to be confirmed.

If a policy needs to be reviewed by an underwriter, however—checking things like your identity verification documents—it could take somewhere between two to 10 days. Keep in mind, this is still a shorter waiting period than the traditional option which generally takes about six to eight weeks.

What are some of the red flags that prevent your application from being approved right away? Things like a long list of prescription medication, a criminal conviction, a current bankruptcy, or a recent trip to a not-quite-safe part of the world are all things that make your application look a little shaky.

If these warning signs show up, it means that an underwriter may take a bit more time and care in reviewing your information. And just like it would have taken a while for the results of your physical exam to come through and be released to the insurance company, waiting for the results from the underwriter will take time.

What to Expect When Applying

So, you’ve considered the pros and cons of applying for a no exam life insurance plan. You’re ready to take the leap and apply online. Luckily, applying for life insurance without having to go through a physical exam is a relatively simple process. Here are a few of the things you can expect as you start to fill out the questionnaire:

  1. First things first. You’ll want to get an instant quote. Simply fill out a few questions about yourself on our No Medical Exam Life Insurance form to receive your quote. At this stage, the only questions pertaining to your health will be whether or not you currently use or have used tobacco or nicotine products. You select the type of coverage you want, how often you want to pay your premium, and how much coverage you will like. There are a few other simple questions about your age, height, weight, and gender. The quote will come to you immediately, at which point you can decide whether you want to move through the application process.
  1. You can start looking through the insurance companies that are interested in providing you coverage, based on your profile. This list can be printed or emailed to you so that you can start doing some investigating of your own into which company is right for you. Our website allows you to learn quite a bit about these insurers, such as:
  • the name of the insurance company and product (for example, Sagicor/Simplified Issue, No Medical Exam)
  • how much you can expect to pay per month
  • what health class you might qualify for
  • the A.M. Best rating of each insurance company (for those of you unfamiliar with this standard, A.M. Best is a global insurance credit ratings and information service that lets you know which company is the most reliable)
  • and reviews from people just like you

At this point, we really encourage you to look through your options and compare the coverage plans. Because this is a policy that will help your family in an extremely vulnerable time, it’s not a good idea to just pick the first option on the page. In other words, while you’re shortening the entire process by foregoing the medical check-up, you’ don’t want to hurry through this stage of consideration. If you have any doubt, make sure to reach out to one of our trained agents who can clarify any questions and help you make the right decision.

  1. Once you’ve got a company in mind, you’ll complete the Health Questionnaire. To get started, just click “Do I Qualify” from the Health Class category and answer the questions. What pops up on the questionnaire? A few of the following:
  • History of substance or alcohol use or abuse. This will include any instances of driving while under the influence or other substance-related complications
  • Family history. If you have a loved one that experienced a heart attack, stroke, or cancer before the age of 60, the questionnaire will ask about it.
  • Your personal medical history. Even if your family hasn’t experienced any medical emergencies, you will be asked whether you take medication for high blood pressure or have experienced any severe medical issues.

When filling out the Health Questionnaire, remember to answer all the questions truthfully, to the best of your knowledge. Don’t be tempted to hide certain information like a recent hospitalization or whether you’ve been declined when applying for life insurance before. Like we mentioned before, this information will usually show up in a Medical Information Bureau (MIB) check. As a result, if you have been previously turned down for another life insurance policy, you will likely also be declined on your no physical exam application. There are sometimes exceptions, so just be truthful with your information. Honesty is always the best policy.

  1. You submit your information. After you have had a chance to review your application and all the details on it, you can click submit on your application. A licensed True Blue Life Insurance agent will verify your medical history and be in touch with you within 10 minutes. You will not receive automated calls or texts, and your details will not be sold or provided to a third party. Your information will only be shared with the insurance company you are applying for.
  1. You can enjoy your life insurance plan.

Taking The Next Step

Overall, if you’re interested in getting approved quickly and easily, it’s time to consider a cheap life insurance policy with no exam. In this article, we’ve reviewed some of the pros of such plans, such as time saved and a hassle-free application process. As long as you’re truthful in your questionnaire, don’t have any lurking medical concerns, and are willing to pay a bit extra per month, a no exam life insurance plan is perfect for you.

At True Blue Life Insurance, we represent over 30 outstanding insurance companies. We shop with you to find the best no exam life insurance rates and we never try to push additional products on you. Our experienced, licensed agents sell over 1,000 policies each year and we do it quickly because we have a refined process that works. We are not a call center. Rather, we act on your behalf to provide personal, ongoing customer service you can count on.

No Exam Life Insurance Companies I n Detail

About 5 Star Life Insurance

5Star Life Insurance Company (5Star Life), a related enterprise of the Armed Forces Benefit Association (AFBA), is a growing provider of supplemental and voluntary life insurance to the worksite/group markets.
AFBA was established in 1947 with the support of the General of the Army, Dwight D. Eisenhower, to ease the strain on military members and their families during wartime. At that time, service members could not purchase life insurance that would pay a death benefit if the member was killed in a war zone.
Founded in 1996, today 5Star Life insures over 800,000 lives with $41.8B insurance in force.

True Blue Comments

This product is sold like a group policy. You join the Health Depot Association to gain access to the product. The premium is guaranteed to stay level until you reach 100 years of age, though the coverage amount may decrease after 10 years. The policy is very easy to obtain with only a few health questions. This is a great product for individuals who want coverage quickly and want to avoid questions about smoking, diabetes, and weight.

Product Features

Family Protection Plan

  • Available for ages 18 through 70
  • Coverage amounts from $10,000 to $150,000
  • Not available in NJ, NY, VT, WA
  • No height/weight limits
  • No physical exam life insurance
  • No smoking or diabetes questions
  • Includes membership to the Health Depot Association
  • Includes a voice signature
  • Only a few health questions to qualify
  • If you’ve been declined by another life carrier, you are ineligible
  • Coverage amount is guaranteed for 10 years; may decrease thereafter

Must be able to work at the time of the application: You are able to work and perform the normal activities of a person of like age and gender, and you are not confined to a hospital, at home or elsewhere due to injury or sickness on the date you sign this application.

Included Benefits

Emergency Burial Benefit

Within 24 hours after receiving notice of an insured’s death, an emergency death benefit of the lesser of 50% of the coverage amount or $15,000 will be mailed to the insured’s beneficiary, unless the death is within the two-year contestability period and/or under investigation.

Terminal Illness

This plan pays the insured 30% (25% in Connecticut and Michigan) of the policy coverage amount in a lump sum upon the occurrence of a terminal condition that will result in a limited life span of less than 12 months.

Optional Benefits

Children & Grandchildren Plan

Policies can also be purchased for children and grandchildren, ages newborn through 23 years, for $1.15/week for a $10,000 policy or $2.30/week for a $20,000 policy.

About American National

American National Insurance Company was founded in 1905 and has evolved into a well-respected member of the life insurance industry, offering both longevity and stability to its policyholders.
Headquartered in Galveston, Texas, American National has more than 3,000 employees in offices in Galveston and League City, Texas; Springfield, Missouri; and Glenmont, New York. American National’s network of agents spans all 50 states and Puerto Rico, and provides service to more than 5 million policyholders.

True Blue Comments

The Signature Term product is a great product that offers “living benefits”—benefits you can use while still alive. The no exam life insurance product is competitively priced, and the underwriters at American National do an amazing job of offering insurance to people with a medical history. The application is thorough and takes about 30 minutes to complete; the company may request medical records from your physicians in order to make a decision.

Product Features

ANICO Signature Term Express

  • Available for face amounts up to $250,000
  • Term lengths: 10, 15, 20, and 30 years
  • Non-med life insurance underwriting from $50,000 to $250,000
  • Includes accelerated benefit riders for terminal illness, chronic illness, and critical illness
  • Underwriting Express facilitates 48-72 hour turnaround on approvals
  • Rates are guaranteed to remain the same during the term length
  • Standard and substandard classes only
  • Available for ages 18 to 65 years
  • Electronic application
  • Conversion credits available through 5th policy year

Included Benefits

Accelerated Benefit Rider for Terminal Illness

You may have access to part of the death benefit of the policy when an illness or chronic condition is expected to result in death within 12 to 24 months, depending on state limitations.

Accelerated Benefit Rider for Chronic Illness

You may have access to part of the death benefit of the policy when unable to perform two out of six activities of daily living (bathing, continence, dressing, eating, toileting, or transferring) or there is cognitive impairment.

Accelerated Benefit Rider for Critical Illness

You may have access to part of the death benefit of the policy when diagnosed with any of a list of 16 critical illnesses.

Optional Benefits

Children’s Term Rider

This rider insures each child approved when the policy is issued and any subsequent children born or adopted while the rider is in force. The coverage expires on each child when he or she attains age 25, at which time the coverage may be converted to a permanent plan of insurance.

Disability Waiver of Premium

You may add an optional disability of premium rider at the time you apply for your policy, though it may not be available in all states.

About Assurity

Assurity has long lived its mission of helping people through difficult times, with a heritage dating back to 1890.
Being a mutual organization is important as it means Assurity has no shareholders or publicly traded stock, and that Assurity’s policyholders share in the ownership of the company. Ultimately, it means Assurity is in business to serve the interests of its policyholders.
Assurity provides life insurance, disability, and critical illness insurance, and voluntary employee benefits through independent brokers nationwide.

True Blue Comments

Assurity’s Term Life with Accelerated Underwriting is a cheap, no exam term product from an excellent company. The application is taken over the phone and is signed digitally. The underwriting can take a few days from approval and issuance (2-4 weeks in cases where additional underwriting is needed) and medical records may be requested in order to make a decision. The product is competitively priced for people who are in excellent health.

Product Features

Term Life With Accelerated Underwriting

  • Issue ages 18-65 years
  • Face amounts $25,000 to $10,000,000 (Face amounts above $500,000 for ages 18-50 and over $350,000 for ages 51-65 will require additional underwriting.)
  • No medical exam life insurance in most cases. Medical records may be requested from doctors
  • The policy is convertible to a permanent policy prior to two years before the end of the term period, or when the insured reaches the age of 65
  • Term periods: 10, 15, 20, and 30 years
  • Application can be completed in 20-30 minutes
  • Applications can be signed digitally
  • Policies typically are approved and issued in a few days

Included Benefits

Accelerated Death Benefit

This rider provides an optional accelerated payment of life insurance proceeds to an insured who is terminally ill or expected to live in a nursing home until death.
The eligible life insurance proceeds are equal to a percentage of the policy face amount or up to a total of $250,000 from all policies and riders on the insured issued by this company.
This rider will be attached only at the time of issue if approved in your state. There is no premium charged for this benefit.

Conversion Option

Term Life with Accelerated Underwriting is convertible during the conversion period, which begins on the issue date of the policy and ends on the earlier of:

  • one year prior to the end of the level term period for the 10-year plan, or
  • two years prior to the end of the level term period for the 15-, 20-, and 30-year plans, or
  • the policy anniversary on which the insured has attained age 65

If the entire policy is converted, the policyowner will receive a conversion credit equal to the base premium paid during the first policy year. The conversion credit will be prorated for partial conversions.

Optional Benefits

Accident-only Disability Income Benefit Rider

Provides a monthly benefit if the insured becomes totally disabled as the result of a covered accident.
“Total disability” is a condition resulting from an accidental injury and independent of all other causes that keep the insured from doing the important, substantial, and material duties of his or her own occupation and requires a physician’s care unless the insured has reached the maximum point of recovery.

Children’s Term Insurance Rider

Provides level-term insurance to age 25 on the insured’s children who are listed on the original application and children born to or adopted by the insured while the policy and this rider are in force.

Critical Illness Benefit Rider

Available in lump-sum benefit amounts from $20,000 to $100,000 and may not exceed the term face amount for the base insured or other insured. Assurity will pay a benefit if an insured person receives a first-ever diagnosis or procedure for one of the specified critical illnesses listed on the rider.

Leave a Reply

Your email address will not be published. Required fields are marked *

Insurance Company Rankings 2016 By Size

Auto Insurance Brokers Calgary