No Exam Life Insurance – Life Insurance Without Medical Exam

No Exam Life


The application process for most life insurance policies takes up to 8 weeks and includes a mandatory medical exam. No exam life insurance can often save you weeks, or even months, of waiting for an underwriting decision or dealing with the scheduling of a medical exam.

If you’re searching for a no exam life insurance policy with a much shorter waiting period, here are your following options:

Healthier people may qualify for a simplified term life insurance policy, which is a no exam policy with competitive coverage amounts

Unhealthy seniors may qualify for final expense life insurance policies that assist in covering end-of-life costs, also allowing you to skip over a medical exam

Simplified Issue Term Life:
How It Works

Similar to regular term life insurance, simplified term life insurance policies provide coverage for a specific period of time before they expire. Generally, terms are offered for 10, 20, or 30 years. Policies can be adjusted to suit the needs of your family. But most terms max out at $250,000.

In contrast to regular life insurance applications, insurers use third party sources to assess your health risk level instead of a medical exam. Because of the assessment, only those who the insurance companies deem as relatively low-risk are qualified to bypass the medical exam. As far as no exam life insurance policies go, these are often the most competitive in terms of benefits and coverage.

Policyholders must pay premiums to keep the policy active, either annually or monthly. And if you die during the policy’s term, a death benefit is paid out tax-free to all of your beneficiaries.

Average Costs

In order to receive the benefits of skipping the medical exam and avoiding long waits to receive your policy, you’re going to have to pay extra.

The actual price of the policy depends on a number of personal factors. But generally, the more coverage you need, the more you will pay. No exam life insurance is often the most expensive option.

Here are some average no medical exam
costs for a young non-smoker:

In contrast, here are some average no
medical exam costs for a smoker

$50,000 Coverage: $15/month

$75,000 Coverage: $20/month

$100,000 Coverage: $22/month

$150,000 Coverage: $30/month

$200,000 Coverage: $38/month

$250,000 Coverage: $42/month

$50,000 Coverage: $23/month

$75,000 Coverage: $31/month

$100,000 Coverage: $37/month

$150,000 Coverage: $53/month

$200,000 Coverage: $69/month

$250,000 Coverage: $85/month

In the majority of situations, you’re going to be paying more for a simplified term policy than you would for a fully underwritten term policy.

For anyone who is fearful of giving blood and would do whatever they could to skip the medical exam, then a no medical exam policy may be the best choice for you. This is especially true if you’re someone who would receive a better rate and only needs a small amount of coverage.

But for everyone else, a fully underwritten life term insurance policy is most likely the better option.

Warning: If you have been diagnosed with a major health issue, lying about it in order to receive a cheaper simplified term policy rate is not a smart decision. Insurers will most likely find out, and there will be heavy consequences.

Is it Right for You?


Riders are extra modifications that policyholders can make in order to increase the flexibility of their policy. Riders are either offered by the insurance carrier for free or for an additional cost.

Some popular return of premium life insurance riders include:

Disability Income Rider

Policyholder is given monthly payments if you become disabled and unable to continue making
an income.As an alternative to full disability insurance, some people choose to add this rider rather
than buying a separate disability policy.

Term Conversion Rider

Term life insurance policy is converted to a permanent life insurance policy.
Remains in effect after the end of the term.

Acceleration of Death Benefit Rider

This rider gives you early access to death benefit cash in the event that you become terminally ill.
The benefit can be used to pay for medical care expenses. Being diagnosed with 12 months to live is
generally the terminal prognosis. But some states hold theirs at 24 months.

Alternative Types of
Term Life Insurance

Level Term Life Insurance

A basic version of term life insurance that functions similarly to return of premium life insurance.
However, premiums are not paid back to you at the end of the term. Therefore, this policy is cheaper.

Return of Premium Life Insurance

You are guaranteed to receive the money back that you paid in premiums throughout the term.
Outliving the policy ensures you are refunded.

Whole Life Insurance

In short, this insurance resembles a term policy but with an added savings component. Portions of your
premiums are put into a saving account that builds cash value throughout the term and is then transferred
to your beneficiaries when you pass away.

Rates are higher and you’re required to pay premiums your entire life for it to remain active.