Our Top 7 Picks for No-Exam Life Insurance Companies
After our detailed analysis of the best life insurance providers, we picked these companies as the best options for no-exam life insurance.
- Mutual of Omaha: Best for no-exam coverage
- Fidelity Life: Our pick for accidental death coverage
- Transamerica: Most affordable coverage
- John Hanco*ck: Best for people with diabetes
- State Farm: Best for customer satisfaction
- Lincoln Financial: Best for long-term care
- AAA: Best for coverage transparency
Compare Our Picks for No-Exam Life Insurance Providers
Use the table below to compare the cost and BBB ratings of the top no-exam life insurance providers.
| Company | Best For | BBB Rating | Monthly Cost | Visit Site |
|---|---|---|---|---|
| Best for no-exam coverage | A+ | $21-$50 | Learn More |
| Best for seniors | A+ | $21-$40 | Explore Plans |
| Best for affordable coverage | N/A | $16-$31 | Learn More |
| Best for people with diabetes | B | $23-$54 | Learn More |
| Best for customer satisfaction | A+ | N/A | Learn More |
| Best for long-term care | N/A | N/A | ||
| Best for coverage transparency | N/A | N/A | Learn More |
| Company | BBB Rating | Best For | Monthly Cost | Visit Site |
|---|---|---|---|---|
| A+ | Best for no-exam coverage | $21-$50 | Learn More |
| A+ | Best for seniors | $21-$40 | Explore Plans |
| N/A | Best for affordable coverage | $16-$31 | Learn More |
| B | Best for people with diabetes | $23-$54 | Learn More |
| A+ | Best for customer satisfaction | N/A | Learn More |
| N/A | Best for long-term care | N/A | ||
| N/A | Best for coverage transparency | N/A | Learn More |
No results were found.
Source: Our team obtained cost data from Redbird Advisors, an insurance consulting agency. Rates were generated in December 2023 and reflect term life insurance pricing based on tobacco-free applicants of various ages qualifying for the preferred health rate class. Sample applicants included six male and six female age groups ranging from age 20 to 65.
Mutual of Omaha
Best for no-exam coverage
4.8
Coverage: 4.4/5
Riders: 5/5
Availability and Ease of Use: 4.7/5
Brand Trust: 5/5
Sample Cost$21-$50Policies OfferedTerm, whole and universalA.M. BestA+
Why We Picked Mutual of Omaha
Why We Picked Mutual of Omaha
Mutual of Omaha stands out on our list as the best option for no-exam coverage, as the company offers no-exam options for both whole life and term life. Its guaranteed issue whole life plan, which can offer instant coverage after applying online, ranges from $2,000 to $25,000 for applicants between the ages of 45 and 85. You can calculate an ideal coverage amount using the company’s online tool. Mutual of Omaha also offers a term life plan, Term Life Express, that doesn’t require a medical exam. Term Life Express is available to applicants between 18 and 65 and offers coverage up to $300,000.
The company received a score of805 out of 1,000in J.D. Power’s 2023 Individual Life Insurance study, which suggests it provides satisfactory service to its policyholders. It also holds a “superior”A+ financial stability scorefrom credit rating agency AM Best, which means it can settle its financial obligations.
Pros and Cons
Pros Offers instant coverage whole-life insurance option with no medical exam Term Life Express offers term life coverage with no medical exam Scores well in latest J.D. Power Customer Satisfaction Study Cons Does not offer information about available rider options on its website, based on our review Has a maximum coverage limit of $25,000 for whole life, lower than some competitors such as Transamerica
Coverage and Cost
You can purchase the following no-exam coverage policies from Mutual of Omaha:
- Guaranteed issue whole life insurance
- Term Life Express
Cost
To estimate the price of Mutual of Omaha’s policies, we gathered rates for a 20-year-term policy with $250,000 coverage for non-tobacco users qualifying for thepreferred health rate class. We calculated the average from the rates of both male and female applicants.
- 35-year-old: $24
- 45-year-old: $36
- 55-year-old: $82
For more information about whole life insurance rates, contact Mutual of Omaha and speak with an agent.
Fidelity Life
Best for seniors
4.2
Coverage: 4.1/5
Riders: 4.4/5
Availability and Ease of Use: 4.7/5
Brand Trust: 2.9/5
Our Review
Sample Cost$28-$68Policies OfferedTerm and wholeA.M. BestA-
Why We Picked Fidelity Life
Why We Picked Fidelity Life
Fidelity Life offers several options for no-exam coverage, including whole life, term life, final expense and accidental death benefit policies. The company’s RAPIDecision line of insurance products is designed to help you get covered quickly without having to wait for a medical exam.
Fidelity Life earned our pick as the best for seniors for offering a range of no-exam whole and term life plans for applicants aged 50 to 85. The company’s no-exam RAPIDecision Senior Term Life is available to people aged 50 to 70 for terms of 10, 20 and 30 years for amounts from $10,000 to $150,000. Fidelity Life also holds an “excellent” A- financial stability rating with AM Best, which means it will likely pay your death benefit on time.
Pros and Cons
Pros RAPIDecision range of products offer coverage without medical exam Provides an online estimate for coverage Holds an “excellent” A- rating with AM Best Cons Term life prices a bit higher than competitors such as Mutual of Omaha Not included in J.D. Power’s Individual Life Insurance study
Coverage and Cost
Fidelity Life has these options available when it comes to no-exam life insurance:
- Accidental death insurance
- RAPIDecision Guaranteed Issue
- RAPIDecision Final Expense
- RAPIDecision Senior Whole
Cost
To determine the cost of Fidelity life insurance, we collected rates for a $250,000 term policy over 20 years for applicants without a history of tobacco use and considered in good health. We then averaged these rates among male and female applicants.
- 35-year-old: $30
- 45-year-old: $59
- 55-year-old: $83
For more information about whole life insurance rates, we recommend contacting Fidelity and speaking with an agent.
Transamerica
Best for seniors
4.4
Coverage: 4.4/5
Riders: 5/5
Availability and Ease of Use: 4.7/5
Brand Trust: 5/5
Our Review
Sample Cost$20-$47Policies OfferedTerm, whole and universalA.M. BestA
Why We Picked Transamerica
Why We Picked Transamerica
Transamerica lets you choose from different no-exam plans that vary based on qualifying issue ages and the length of your premium-paying period. In addition to its final expense life insurance policy, the company also offers two policies under its Trendsetter line that do not require a medical exam.
Transamerica’s final expense plan can offer benefits for seniors, based on our review, as you can get coverage with a digital application and a maximum coverage amount of $50,000. The company also provides expedited claims settlement for a maximum of $25,000 to help settle expenses such as funeral or burial costs.
When we contacted Transamerica for a response on its below-average marks from J.D. Power and NAIC, this is what a company spokesperson told us:
“We continue to invest in people and technology to develop and deliver solutions to improve the customer experience and help people live their best lives. We implemented a new customer service model last year that included hiring additional customer support staff to provide better and faster service for our policyholders. While the new service model will take the remainder of the year to fully implement, we are already seeing an improved service experience, and overall feedback from our customers has been positive. In addition, Transamerica will introduce a new policyholder website later this year to enable digital policy support for customers.”
Pros and Cons
Pros Provides final expense insurance with a maximum death benefit of $50,000 Offers expedited claims settlement of up to $25,000 Lets you get an online quote for no-exam policies Cons Lower-than-average score in J.D. Power’s Individual Life Insurance study Higher-than-average 3.18 customer complaint index with the National Association of Insurance Commissioners (NAIC)
Coverage and Cost
Seniors interested in a Transamerica policy can opt for these no-exam coverage options:
- Final expense life insurance
- Trendsetter Super
- Trendsetter LB
Cost
To estimate the cost of Transamerica life insurance, we acquired rates for a 20-year term policy with $250,000 in coverage for tobacco-free applicants considered in good health. We then averaged the rates together for male and female applicants.
- 35-year-old:$21
- 45-year-old:$42
- 55-year-old:$103
For more information about whole life insurance rates, we recommend contacting Transamerica and speaking with an agent.
John Hanco*ck
Best for people with diabetes
4.7
Coverage: 4.4/5
Riders: 5/5
Availability and Ease of Use: 4.7/5
Brand Trust: 5/5
Sample Cost$23-$54Policies OfferedTerm, whole, universal and variable universalA.M. BestA+
Why We Picked John Hanco*ck
Why We Picked John Hanco*ck
John Hanco*ck earned a place on our list by offering ExpressTrack, an opportunity for applicants aged 18 to 60 to get up to $3 million in coverage without a medical exam. To purchase general life insurance coverage, you must fill out a form with your information. The company’s agent will then contact you to discuss your needs and can help you sign up for a policy without taking a medical exam.
We picked John Hanco*ck as the best provider for people with diabetes because it offers a special program with any of its life insurance policies designed to meet the unique needs of people with diabetes. The company’s Aspire with Vitality program has many benefits, including discounts on healthy foods, travel and fitness devices. You can also access a virtual care program for guidance and monitoring regarding diabetes care.
Our team reached out to John Hanco*ck for comment on its lower J.D. Power score but did not receive a response.
Pros and Cons
Pros ExpressTrack accelerated underwriting offers up to $3 million in coverage with no exam Provides a program designed specifically for people with diabetes, called John Hanco*ck Aspire Holds an A+ financial strength rating from ratings agency AM Best Cons Did not score well in J.D. Power’s latest customer satisfaction study Must contact an agent for a quote
Coverage and Cost
John Hanco*ck provides the following options for no-exam life insurance coverage based on the applicant’s health:
- Term life insurance
- Universal life insurance
- Indexed universal life insurance
- Variable universal life insurance
Cost
We gathered rates to estimate the cost of John Hanco*ck life insurance based on a 20-year term policy with $250,000 in coverage for tobacco-free applicants eligible for the preferred health class. We averaged these rates across both genders.
- 35-year-old: $23
- 45-year-old: $48
- 55-year-old: $125
For more information about permanent life insurance rates, we recommend contacting John Hanco*ck and speaking with an agent.
State Farm
Best for customer satisfaction
4.6
Coverage: 4.4/5
Riders: 5/5
Availability and Ease of Use: 4.7/5
Brand Trust: 5/5
Sample CostN/APolicies OfferedTerm, whole and universalA.M. BestA++
Why We Picked State Farm
Why We Picked State Farm
State Farm lets you obtain an online estimate for no-exam life insurance after filling out a quote form on its website. The company’s two options for no-exam coverage are its Instant Answer term life plan, offering coverage up to $50,000, and its guaranteed issue final expense plan, which offers up to $25,000 in coverage. State Farm was the most popular provider among respondents to our February 2024 survey, accounting for over 13% of no-exam policyholders.
The insurer lets you obtain an online estimate for no-exam life insurance after filling out a quote form on its website. State Farm also has a superior A++ AM Best financial stability rating, suggesting it can meet its financial obligations.
Pros and Cons
Pros Received the highest score in J.D. Power’s 2023 life insurance study, suggesting quality customer service Offers both term and whole life no-exam policy options Holds a “superior” A++ financial stability rating from AM Best Cons Might require you to contact an agent for a quote Does not provide guaranteed issue final expense insurance in New York
Coverage and Cost
You can look into these no-exam options from State Farm:
- Guaranteed issue final expense
- Instant Answer term life insurance
Cost
We were unable to obtain cost information for State Farm. You can contact the company for more details on pricing.
Lincoln Financial Group
Best for long-term care
4.4
Coverage: 4.4/5
Riders: 5/5
Availability and Ease of Use: 4.7/5
Brand Trust: 5/5
Sample Cost$19-$45Policies OfferedTerm, whole and universalA.M. BestA
Why We Picked Lincoln Financial
Why We Picked Lincoln Financial
Based on our review, Lincoln Financial offers many no-exam life insurance options with competitive rates. The company waives lab work and a medical exam for the healthiest individuals aged 18 to 60 seeking coverage amounts up to $1 million. Based on our survey of 1,000 life insurance policyholders, term life was the most common type of coverage purchased by Lincoln Financial customers. Customers also have flexibility with their coverage. The company provides several riders, including the MoneyGuard policy rider that reimburses covered long-term care expenses while the policyholder is still living.
It has a lower-than-average 0.33 NAIC complaint index, which suggests its customers submitted few complaints about its service for a company of its size. Lincoln Financial also holds an “excellent” A financial stability rating from AM Best, showing it can settle its financial obligations. According to data compiled by the NAIC, Lincoln Financial finished sixth among all life insurers in market share in 2023, issuing more than $8 billion in direct premiums.
Our team reached out to Lincoln Financial for comment on its lower J.D. Power score but did not receive a response.
Pros and Cons
Pros Offers several riders with its policies to enhance coverage Has a lower-than-average 0.33 NAIC customer complaint index Holds an “excellent” A rating with the credit agency AM Best Cons Below-average customer satisfaction score in the latest J.D. Power study Some plans are not available in New York
Coverage and Cost
Lincoln Financial will waive the medical exam requirement for some of its policies if you meet specific qualifications. You can get a life insurance quote from the insurer to know which coverage you can qualify for, but generally, these are the insurer’s no-exam options:
- Lincoln TermAccel Level Term
- Lincoln LifeElements Level Term
Cost
We gathered rates to assess Lincoln Financial’s life insurance pricing based on a 20-year term policy with $250,000 in coverage for non-smokers qualifying for the preferred health rate class. Our team then averaged the rates for both males and females.
- 35-year-old: $20
- 45-year-old: $39
- 55-year-old: $102
For more information about whole life insurance rates, we recommend contacting Lincoln Financial and speaking with an agent.
AAA
Best for coverage transparency
4.2
Coverage: 4.4/5
Riders: 5/5
Availability and Ease of Use: 4.7/5
Brand Trust: 5/5
Sample Cost$22-$52Policies OfferedTerm, whole and universalA.M. BestA
Why We Picked AAA
Why We Picked AAA
AAA made our list by offering no-exam options for both term and whole life. The company’s ExpressTerm policy allows applicants aged 20 to 75 to apply online and receive immediate coverage if approved. AAA also offers a guaranteed issue whole life plan for those between 45 and 85, with no medical exam or health questions. You must contact an agent to purchase the guaranteed issue plan.
AAA provides important information regarding its no-exam policies on its website, including coverage details, age limits and exclusions. In our experience, you can download each policy’s documentation easily if you want more details. You can also contact a company agent for information regarding policy features.
Our team reached out to AAA for comment on its NAIC complaint ratio but did not receive a response.
Pros and Cons
Pros Offers online coverage estimates Provides important details on its website, including sample policy documentation Holds an “excellent” A financial stability rating from AM Best Cons Higher-than-average 2.68 NAIC complaint index, suggesting potential customer service issues Only AAA members can purchase coverage
Coverage and Cost
AAA lets you purchase these no-exam coverage policies:
- Guaranteed issue whole life insurance
- Accident insurance
Cost
To assess AAA’s pricing, we gathered rates for a 20 year term policy with $250,000 in coverage for tobacco-free applicants considered in good health. We then calculated average rates for both male and female applicants.
- 35-year-old: $24
- 45-year-old: $46
- 55-year-old: $109
For more information about whole life insurance rates, we recommend contacting Fidelity and speaking with an agent.
How Much Does No-Exam Life Insurance Cost?
The cost of no-exam life insurance depends on factors like your age, the amount of coverage you apply for, and whether the policy is a simplified or guaranteed issue. Overall, no-exam life insurance rates are more expensive than traditional insurance because insurers need to offset the risk of writing a policy with less or no health-related information about the applicant.
What Is No-Exam Life Insurance?
A no-exam life insurance policy does not require applicants to complete a medical exam to be considered for approval. Rather, it uses an accelerated underwriting process to approve applicants more quickly than with a traditional policy. Based on our survey of 1,000 life insurance policyholders, more than 48% of respondents said they obtained coverage without taking a health exam.
“In today’s market, many carriers are offering ‘no-exam’ life insurance,” said Michael Silverman, founder and president of Silver Lining Insurance Agency in New York. “Post-COVID there has been a change in underwriting for younger clients. Many carriers will offer underwriting without a medical examination but will still secure medical information from the potential insured’s doctor.”
“Something I wish I had known going into the life insurance buying process is that some companies offer no-exam coverage options.”
There are two types of no-exam life insurance: simplified-issue and guaranteed-issue. Here are the similarities and differences between the two options.
Simplified Issue Life Insurance
This type of policy does not require a medical exam, but the application process involves health questions and often uses technology to gain insights into your medical history. Insurance companies often request a report from the MIB to evaluate an applicant’s medical risk. Some simplified issue plans are referred to as “instant issue” and can offer competitive rates to the healthiest applicants based on medical records and tools that predict relative mortality.
Guaranteed Issue Life Insurance
This form of no-exam coverage accepts all eligible applicants without requiring an exam or asking any questions about their health. Typically, guaranteed issue policies feature higher premium prices and lower levels of coverage because insurers have no insight into the risk level an applicant poses. An example of this type of coverage is Fidelity Life’s RAPIDecision Guaranteed Issue policy, which offers up to $25,000 in coverage to individuals between the ages of 50 and 85.
“Guaranteed issue policies are frequently more expensive than underwritten policies due to the carrier’s overall exposure,” Silverman said.
Pros and Cons of No-Exam Life Insurance
Pros
The underwriting process for no-exam policies generally offers faster approval than a traditional policy.
No-exam plans, particularly guaranteed issue policies, may better suit applicants with pre-existing conditions who have trouble obtaining traditional coverage.
You can often complete the application process in minutes from the comfort of your home.
Cons
You will generally pay higher premiums for a no-exam life insurance policy, based on our research, because the insurer assumes more risk.
A no-exam policy could fall short of your financial needs because it generally has lower coverage limits than a traditional policy.
MarketWatch Guides Tip
No-exam life insurance plans traditionally cost more than policies that require a medical exam. However, many companies now offer simplified issue —or accelerating underwriting — policies at competitive rates for healthy individuals. However, guaranteed-issue policies provide lower coverage amounts at higher costs.
Common Riders With No-Exam Policies
Children’s Term Rider
This is an optional rider that allows a policyholder to add one or multiple children to a policy for an increased premium. It pays a benefit if one of your children passes away, and may suit parents looking to cover their children without purchasing an additional plan. When the term expires, you can typically convert the policy into permanent coverage for the child.
Term Conversion Rider
This rider allows you to convert a term life insurance policy into a permanent one — usually whole life coverage — without taking another medical exam. Term conversion riders may benefit policyholders who decide they want to lock in lower rates for permanent coverage during their term.
Return of Premium Rider
An optional add-on to a term life insurance policy that can pay you back most or all of your premiums if you outlive the term. A return of premium rider (ROP) may suit policyholders who are risk-averse, can afford the extra monthly cost of the rider or want extra value with a term life policy.
“David is a 28-year old web designer in excellent health. His wife recently gave birth to their first child, and David will be the sole breadwinner for at least a year. He was eager to quickly get life insurance to cover expenses in case anything happened to him, so he opted to apply for a $250,000 term life policy with no medical exam. David was approved the next day and feels peace of mind that his loved ones are protected.”
Is No-Exam Life Insurance Worth It?
No-exam life insurance can be worth it if you need coverage fast, have been denied traditional life insurance or suffer from chronic, pre-existing medical conditions. The major advantages of no-medical-exam life insurance policies include completing the entire application process online or by phone and getting coverage quickly — sometimes instantly.
“Generally, yes, I do think it’s worth it. However, no-exam policies tend to be a little more expensive. There are a lot of carriers now that offer no-exam life insurance and just need a questionnaire filled out online. If you’re looking for something fast and can afford a higher premium, no-exam policies tend to be effective.”
Traditionally, offering life insurance without requiring a medical exam places insurers at greater risk because they don’t have information about your health, so companies have historically provided limited coverage at higher rates for no-exam plans. However, many companies such as Mutual of Omaha, Fidelity Life and Transamerica now leverage modern technology to gain insights into applicants’ health status. Gathering health information from sources other than a physical exam allows providers to issue no-exam policies at more affordable rates, especially to the youngest and healthiest of applicants.
However, if you need a sizable death benefit in the millions or are shopping on a tight budget, no-exam life insurance may not be your best option. Insurance companies often set lower coverage limits for no-exam plans, especially guaranteed issue policies that don’t require answers to health questions. According to industry trade association LIMRA, more than a third of people without life insurance (36%) say they haven’t purchased coverage because they are unsure how much they need or what type of insurance to buy. We recommend working with a life insurance agent or financial advisor to determine the best coverage options to fit your situation.
Alternatives to Life Insurance With No Medical Exam
If you are relatively healthy, buying a traditional term life or permanent life insurance policy, such as whole life insurance, that requires a medical exam may offer more affordable rates and a higher coverage amount.
Traditional life insurance applications typically require a physical exam that includes taking your height and weight, gathering blood and urine samples, and checking your blood pressure. However, the underwriting process can take weeks or even months before you receive approval or denial for coverage.
Frequently Asked Questions About No-Exam Life Insurance
Yes, you can get life insurance without a medical exam. The most common no-exam policies are term life insurance. Permanent policies, like final expense insurance, are also available.
The benefit of no-exam life insurance is the ability to get coverage without a medical exam, the results of which could increase your premiums or prevent you from getting traditional coverage. The simplified application process also means you can obtain coverage much quicker than the traditional method.
In general, no-exam life insurance coverage is more limited than traditionally underwritten coverage, which more thoroughly assesses how much risk a customer poses to the insurer. Guaranteed issue policies don’t require an exam but typically have lower death benefits, while simplified issue policies can offer higher coverage limits since you must answer health questions to qualify.
During the application process, most life insurer health questionnaires will include a few questions regarding COVID-19. Previously having COVID should not impact your ability to purchase new life insurance coverage, according to the Triple-I. However, if you are experiencing long COVID symptoms, that may be considered a chronic condition and could impact your rate.
Methodology: How We Rated The Best No-Exam Life Insurers
Our team researches and ranks life insurance companies using an in-depth scoring system that considers the factors most important to consumers like you. Our analysis includes a comprehensive review of each provider we feature based on available coverage, customizability, availability, customer service and company reputation. Here are the factors we take into consideration when rating life insurance providers:
- Brand trust (40%): Life insurance payouts can exceed $100,000 or more, which makes choosing a reputable and trustworthy installer important. To assess brand trust, we use J.D. Power and Associates customer satisfaction surveys, AM Best credit rating scores and the National Association of Insurance Commissioners (NAIC) complaint index. The higher a company scores in each area, the more points it receives.
- Coverage (33%): The more policy options a life insurance company offers, the more opportunities you have to obtain the right coverage for your specific needs. For this reason, we give companies the most points for offering multiple types of life insurance, including various term, permanent and no-exam options.
- Availability and ease of use (19%): Since life insurance coverage options can be complex, we consider the ways a customer can reach a company — and how easy communication is. For this category, we research how many communication channels a company offers for general customer support, claims processing and the application process. Companies earn the most points for offering various ways to interact with an agent, both in-person and online.
- Riders (8%): Companies offering various life insurance riders or endorsem*nts allow policyholders to better customize their coverage. In this category, we determine how many riders a company offers and award the most points to providers with more than 10 options.
We use our rating system to compare and contrast each company against key factors to help us determine the best life insurance companies in the industry. To learn more, read ourfull life insurance methodologyfor reviewing and scoring providers.AM Best Disclaimer
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