Getting life insurance is an essential financial decision to protect your loved ones. However, the medical exam and health questions can be a hassle. The good news is that you can get life insurance without a medical exam.
What is Life Insurance Without a Medical Exam?
Life insurance without a medical exam, also called no exam life insurance, allows you to get coverage without undergoing a medical exam, blood work, or other invasive tests. Many life insurance companies offer policies where you can qualify based on answering health questions.
No exam life insurance tends to be available for more minor face-value policies, usually up to $1 million. The insurance company will ask you questions about your health and lifestyle and may request access to your medical records. You can qualify for no-exam life insurance if you are relatively healthy.
Advantages of No Exam Life Insurance
Here are some of the main benefits of getting life insurance without an exam:
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- Convenient - No need to schedule a medical exam or have a life insurance agent meet you at your home. The entire application can be done online or over the phone.
- Fast - You can get an approval decision in days instead of weeks. Policies can be issued rapidly.
- No Blood Work - No need for lab work, urine samples, or other intrusive medical tests.
- More Privacy - You don't have to share private medical details with an insurance paramedic. Just answer some health questions.
- Flexible Coverage - Available for term and permanent life insurance, including whole and universal life.
No exam life insurance offers a streamlined way to get the necessary coverage without jumping through hoops. Just be sure to be honest on the application.
Comparison of No Exam Life Insurance Companies
| Company | Products | Max Coverage | Application Process | Customer Service |
|---|---|---|---|---|
| Bestow | Term life | $1.5 million | Online application, instant decision | App and chat support |
| Fabric.com | Term and permanent life | $1 million | Phone interview, quick approval | Direct agents, online chat |
| Haven Life | Term life | $3 million | Online application, algorithm approval | Phone, email, chat |
Here are some top no-exam life insurance companies and how they compare:
- Bestow - Bestow offers an easy and 100% online process to get term life insurance. Coverage up to $1.5 million is available with no medical exam.
- Fabric.com - Fabric is powered by the carrier Guarantee Trust Life. They provide term and permanent life insurance with phone applications.
- Haven Life - Haven Life has an instant online process for term life insurance. They use technology and data analytics to approve policies rapidly without a medical exam.
No exam life insurance gives you flexibility and convenience. Choosing the right company can ensure you get the coverage amount and customer service you need.
What Information Will You Need to Provide?
When applying for no-exam life insurance, be prepared to answer detailed questions about your medical history and lifestyle. Here are some of the critical things the insurance company will ask about:
- Age, height, weight
- Family medical history
- Prescription medications
- Any chronic illnesses like diabetes, heart disease, etc.
- Tobacco and alcohol use
- High-risk hobbies like scuba diving
- Driving record and motor vehicle violations
Expect that the application will be thorough. Be honest and upfront about your health. If you have any significant conditions, it may impact the policy approval and pricing. Minor or well-controlled issues likely won't prevent qualification for no exam life insurance.
No Exam Life Insurance vs. Traditional Life Insurance
How does no exam life insurance compare to traditional policies? Here are the key differences:
| No Exam Life Insurance | Traditional Life Insurance |
|---|---|
| No medical exam requirement | Complete medical exam required |
| Short underwriting period | Lengthy underwriting process |
| Coverage up to $1 million | Coverage over $1 million available |
| Limited exclusions | More exclusions possible |
| Higher premiums | Lower premiums |
| Approval can be instant | Approval takes weeks |
No exam life insurance provides a faster and more convenient experience. However, traditional policies allow higher coverage limits and lower rates. No exam life insurance suits more minor coverage needs of generally healthy applicants. Standard policies work better for large or complex insurance needs.
Comparison of No Exam Life Insurance Companies
| Company | Products | Max Coverage | Application Process | Customer Service |
|---|---|---|---|---|
| Ethos | Term, whole, universal life | $2 million | Online application, phone interview | Direct agents, online chat |
| Ladder Life | Term and universal life | $8 million | Online application, phone interview | App, phone, email |
| Sagicor Life | Term, whole, universal life | $2 million | Online application, tele-interview | Phone and web support |
Here is an updated comparison of some additional no-exam life insurance options:
- Ethos - Ethos offers an easy online process with fast decisions. All major types of life insurance are available without an exam.
- Ladder Life - Ladder Life has flexible coverage of up to $8 million with no medical exam required. Streamlined application process.
- Sagicor Life - Sagicor Life provides a term, whole, and universal life with no exam and application process.
Depending on your specific needs, one of these no-exam life insurance companies may be the right fit.
Frequently Asked Questions About No Exam Life Insurance
How much does no exam life insurance cost?
No exam life insurance rates are generally 10-15% higher than traditional policies. Expect to pay $30 to $100 monthly for a $250,000 20-year term policy for a healthy 30-40 year old. Cost varies based on age, gender, health, and coverage amount.
No, all life insurance has to meet state regulations. No exam policies are just as legitimate as traditional insurance. The main difference is the underwriting process. If you are honest on the application, the policy will pay out a valid claim.
What health conditions make you ineligible?
Major chronic illnesses like heart disease, cancer, diabetes, and stroke may make you ineligible. Some conditions like obesity, depression, or frequent marijuana use could lead to higher rates. Minor health issues are usually not problematic.
How long does underwriting take?
Few exam life insurance companies provide near-instant policy approvals. Others may take 2-3 weeks. Traditional underwriting with medical exams takes 4-6 weeks. No exam life insurance closes much faster.
Can the policy be converted later?
Many no-exam term life policies allow you to convert to permanent life insurance later without new underwriting. This will enable you to get coverage now and extend it down the road.
No exam life insurance provides a simple, fast way to secure the coverage you need. As long as you have relatively good health, protecting your family is an excellent option. Be sure to work with an experienced advisor to find the right no-exam life insurance.
