Life Insurance Without Medical Exam

Can You Rely On Employer Life Insurance

Many employers offer a basic life insurance policy without a medical exam. It might cover one or two times your salary, much less than the recommended 10-times benchmark. If you are single and have no dependents and little debt, life insurance through your employer may be enough. If you own a home or other assets, live with a partner, or have a family, you probably need more coverage.

Whole Life Insurance With No Medical Exam

While many people think of no exam life insurance as an option only for the young and healthy, theres another type of life insurance with no medical exam thats geared toward the older population. Guaranteed issue life insurance is a type of whole life insurance thats guaranteed to be issued, regardless of health. This means theres no medical underwriting required, and thus no medical exam.

Guaranteed issue life insurance can be a good option for:

• Older people in fair or poor health who want to leave behind cash to pay for their final expenses.
• Anyone with health conditions that would prevent them from being eligible for a traditional life insurance policy.
• People who are willing to accept a smaller death benefit and more fine print in exchange for not having to endure a medical exam.

Most guaranteed issue life insurance policies are intended to pay for final expenses. This means the death benefit for guaranteed issue policies is typically much lower than youll find with most traditional life insurance plans.

Guaranteed issue life insurance also requires relatively high premiums in relation to the death benefit, which makes sense since these policies are geared toward older people with existing health conditions. As an example, a 65-year-old woman who applies for a RAPIDecision Guaranteed Issue policy from Fidelity Life would have to pay $55.65 per month for a final expense policy with a $10,000 death benefit.

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Accelerated Underwriting Life Insurance

Accelerated underwriting is a process where the insurer gathers information about you electronically and then algorithms quickly assess what your life insurance quote should be.

The personal information gathered can include prescription drug histories, motor vehicle records, criminal records and risk scores created by third-party services.

Accelerated underwriting policies offer the convenience of no exam and can be priced as competitively as a policy that requires an exam.

Use A Provider You Can Trust

Getting life insurance just got easier. You now have one less excuse to go ahead and get your family set for life if something ever happened to you. For a small amount of money per month you can get coverage that will give you peace of mind knowing your familys protected. We recommend RamseyTrusted provider Zander Insurance. Get your term life policy started today.

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Ramsey Solutions

Ramsey Solutions has been committed to helping people regain control of their money, build wealth, grow their leadership skills, and enhance their lives through personal development since 1992. Millions of people have used our financial advice through 22 books published by Ramsey Press, as well as two syndicated radio shows and 10 podcasts, which have over 17 million weekly listeners.Learn More.

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Best For Instant Decision: John Hancock

John Hancock

• No online quotes or online application

If you want to get life insurance issued quickly, consider John Hancock. We named John Hancock the best no-medical-exam life insurance company for instant decisions because you can apply for coverage and possibly get approved on the same day, with no waiting period required.

You can get no-medical-exam life insurance until age 60, with up to $3 million in coverage. John Hancock doesnt sell whole life insurance, but it does offer term life, universal life, indexed universal life, and variable universal life policies.

One of the most unique features of John Hancock is its Vitality wellness program for policyholders. The program provides various health- and travel-related discounts. You can even save up to 25% on your life insurance premium if you enroll in the paid Vitality PLUS program, which starts at $2 per month.

A downside is that John Hancock charges for most of its accelerated death benefit riders. However, if you add a critical illness rider to your policy, using the benefit wont impact your death benefit. This is unlike most other companies chronic illness riders which reduce the death benefit your beneficiaries receive by the amount you use for chronic illness.

To apply for a policy, youll need to work with an agentJohn Hancock doesnt offer online quotes or online applications.

What Happens If My No

If your application for a no-medical-exam policy isn’t accepted, you can still get life insurance at an affordable rate you’ll just need to take the medical exam. During the application process an insurance agent can guide you through your options. At Policygenius, we have a team of experts who specialize in life insurance who can help you find the right policy for your unique needs so you can get covered with confidence.

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No Medical Exam Life Insurancesimple Application

A No Medical Exam Life Insurance policy can now be purchased from the comfort of your own home.

A No Medical Exam Life Insurance policy with just a simple application can now be purchased from the comfort of your own home. Getting traditional life insurance can be time consuming, involving multiple steps that can wind up distracting our attention from our required routines. If you work long hours, travel a lot or have a difficult schedule, you may be avoiding the perceived hassle of getting a policy. Life Insurance is a viable modern day option.

A No Medical Exam Life Insurance policy means people can receive real coverage, without having to provide blood and urine for testing. With No Medical Exam Life Insurance, you only have a simple application.

Completely Medically Underwritten Life Insurance

Most people automatically associate no medical exam life insurance with younger and vital people. Still, coverage is available to the over-60 crowd that doesnt require a physical. In contrast to traditional health-based underwriting practices, insurers must provide guaranteed issue life insurance policies regardless of an applicants health. Because of this, you wont need to get checked out by a doctor as part of the underwriting process.

When looking for life insurance, guaranteed acceptance may be the best option in these circumstances:

• Individuals aged 65 and up in average to bad health who plan to leave money to loved ones for burial costs.
• The general population, especially those with health problems, that makes it difficult to obtain standard life insurance.
• Individuals who would rather avoid a medical exam than receive a more considerable death benefit and fewer protections may be interested in this type of policy.

The primary purpose of guaranteed acceptance of life insurance is to cover burial costs. As a result, the death payout for ensured policies is often substantially smaller than for conventional life insurance policies.

Thats a hefty price to pay for such a minimal level of protection. In reality, the premiums alone would add up to the full $10,000 death benefit if the lady aged 65 continued to live until age 80. The longer she lived past 80, the more she would have to pay than her loved ones would have received.

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Best For Military Members: Usaa

Military members and their immediate family members may qualify for competitive banking, insurance, and other financial services through USAA. Pricing is lower, payouts are higher, and customer service is strong. Of course, these services are only available to military and qualifying family members. For the children of a deceased military member to use any USAA products, the military member would need to be signed up before their death.

Guaranteed whole life policies are available in 49 states, excluding Montana. Coverage is available from $2,000 to $25,000 with no medical exam or questions. Applicants who want higher coverage limits can explore medical exam policy options with a licensed agent.

• Health questions: No

• Unique feature: High expert and customer rankings with a trusted provider

Different Types Of Life Insurance

You can purchase either term or permanent life insurance. As the names suggest, term insurance lasts only a certain amount of time, while permanent life provides coverage for your lifetime. With term life insurance, your policy has value only until the contract ends. Permanent life insurance policies increase in value indefinitely as long as you pay your monthly premium.

If you choose term life insurance, you can generally select a 10-, 20-, or 30-year policy. You can also consider subtypes of term life. With a convertible policy, you can increase your monthly premium in the future to transition from term to permanent life insurance. A decreasing term life policy offers premiums and coverage that go down over time to coordinate with a large debt such as a mortgage.

Whole life, a type of permanent life insurance, offers guaranteed cash value in exchange for higher premiums. Universal life is a flexible option that allows you to adjust your monthly payments if you need more or less coverage through the years. Indexed and variable universal life policies provide sophisticated investment options to grow the policy value.

Many life insurance policies have optional riders with add-on coverage for special needs. Examples include riders for child life insurance or disability benefits if you cannot work because of an injury or illness.

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Types Of No Medical Exam Life Insurance

The following types of no-hassle life insurance without a medical exam allow you to apply for coverage quickly:

• Simplified issue life insurance: Best if you’re young and in good health but want life insurance with no waiting period, this type of policy allows you to skip the medical exam if you’re willing to answer health questions and share your medical and pharmaceutical records. Your premium will be more expensive than a typical life insurance policy, but coverage will be available for longer than with a short-term policy.
• Guaranteed issue life insurance: If you have health issues that have caused life insurers to reject your applications, guaranteed issue life insurance can be a way to get coverage without bringing your health into question at all. You’ll still need to meet age restrictions, and your coverage may be significantly more expensive and limited.
• Employer-sponsored life insurance: If you have access to a group life insurance plan through your employer’s benefits package, it’s likely highly affordable and doesn’t require a medical exam. Coverage will be set at a percentage of or 1-2 times your salary potentially not as limited as guaranteed issue life insurance coverage. Note that these policies may only stay active while you’re still with the employer and typically only offer limited coverage amounts that you may want to supplement with another policy. Learn more about supplemental life insurance policies.

Can I Have More Than One Affordable Life Insurance Policy

You can purchase as many life insurance policies as you need to meet your financial goals. For example, you may want a policy to cover your family and household expenses and a second policy that pays off small business debts. The plans will remain active as long as you continue to pay your monthly premiums.

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How We Chose The Best Life Insurance Companies

In order to compile our list of the best no-medical-exam life insurance companies, we developed a comprehensive life insurance methodology. We started off by researching what consumers want from life insurance companies, and for that, we looked to third-party consumer studies, including J.D. Powers 2021 U.S. Life Insurance New Business Study and the 2021 Insurance Barometer Study, by Life Happens and LIMRA.

With those findings in mind, we gathered more than 50 data points on 91 life insurance companies, including ratings for financial strength, customer satisfaction, and customer complaints, as well as information about years in business, online tools, no-exam options, dividends, maximum issue ages, and available riders.

Our review process gave preference to companies with solid financials, few customer complaints, high no-exam coverage amounts available, high-issue ages for no-exam coverage, and a broad product portfolio. Companies received ratings boosts for online resources, including online quotes and live chat, and included living benefit riders. We ranked each company according to the following categories and weights.

• 28%: No-med-exam availability and features
• 20% Policy types and features
• 15%: Financial stability

Guaranteeing The Best Rates

While it may seem daunting, the underwriting process will largely depend on your answers and transparency during the application. To increase the odds of approval at the best possible rates, it is always best to give the most truthful responses, and resist the urge to make yourself look better. Moreover, identifying existing lifestyle risk factors that can easily be corrected and fixing them, such as not working out or unhealthy eating habits, can vastly improve the odds of acquiring the desired coverage. Finding the best life insurance policy providers and guaranteeing the best possible rates upon approval can take time. However, taking the necessary steps to fill out an application accurately and honestly makes it easier to assure success.

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Should You Get Life Insurance With No Medical Exam

8 Min Read | Sep 20, 2022

Life insuranceits been on your to-do list for years. Youve been meaning to knock it out but . . . life happens. Well, heres some good news: These days theres one less hurdle between you and getting covered.

Over the past couple of years, some insurance companies have started offering an exam-free life insurance application optionand it doesnt come with sky-high premiums. If youre under 65 and in the market for a policy worth $2 million or less, you may be able to skip the lab work and apply without a medical exam.

This new flexible option means one less hoop you need to jump through on the way to peace and security for your loved ones. Heres what you need to know about getting life insurance without a medical exam.

Life Insurance For Seniors

Depending on your age, you’ll often find different levels of accessibility to various types of life insurance. If you’re wondering about the best option for life insurance over 50 without a medical exam, look into a term policy. Term policies are generally among the most affordable and often have fixed premiums for their duration.

On the other hand, whole life policies offer a cash value feature and simpler eligibility, but they tend to have higher premiums and lower coverages than term policies. Still, at Ethos, you can find both whole and term life insurance without medical exams – you only need to answer a few health questions.

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Weighing The Pros And Cons Of No Medical Exam

When you apply for life insurance, you’ll be asked to complete an application that includes both your personal and health information. And in many instances, you may be required to schedule a medical exam that could include blood work. Based on all this information, the insurer will assess your eligibility for coverage and determine the appropriate premium – a process referred to as full underwriting.

However, while full underwriting is often part of the typical life insurance buying process, it’s not necessarily your only option. What you may not be aware of is that in addition to full underwriting, there can be a simplified underwriting, or no exam life insurance option from various providers.

No Medical Exam Life Insurance With Ethos

When seeking life insurance without medical exams, consider both term and whole life policies. Most applicants can apply for term life insurance with no medical exam.

Ethos also offers whole life insurance with no medical exams – you only need to answer a few health questions. For whole life policies, all applicants who meet the age requirements are eligible, independent of health.

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Different Types Of Cheap Life Insurance Policies

You can purchase either term or permanent life insurance. As the names suggest, term insurance lasts only a certain amount of time, while permanent life provides coverage for your lifetime. With term life insurance, your policy has value only until the contract ends. Permanent life insurance policies increase in value indefinitely as long as you pay your monthly premium.

If you choose affordable term life insurance, you can generally select a 10-, 20-, or 30-year policy. You can also consider subtypes of term life. With a convertible policy, you can increase your monthly premium in the future to transition from term to permanent life insurance. A decreasing term life policy offers premiums and coverage that go down over time to coordinate with a large debt such as a mortgage.

Whole life, a type of permanent life insurance, offers guaranteed cash value in exchange for higher premiums. Universal life is a flexible option that allows you to adjust your monthly payments if you need more or less coverage through the years. Indexed and variable universal life policies provide sophisticated investment options to grow the policy value.

Many life insurance policies have optional riders with add-on coverage for special needs. Examples include riders for child life insurance or disability benefits if you cannot work because of an injury or illness.