Best Places to Buy Life Insurance Without a Medical Exam
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Provider | Maximum Coverage | Issue Age | A.M. Best Rating |
Up to $1 Million | 21-54 | A+ | |
— | — | — | |
Up to $3 Million, Up to $1 Million without a medical exam | 18-65 | A++ | |
Up to $100,000 | 18-80 term life, 45-85 whole life | A+ | |
Up to $1 Million | 25-60 | A+ |
Best Place to Buy Life Insurance Without a Medical Exam in 2021
When looking for life insurance online, you may notice references to medical exam requirements. Many insurance providers include a medical exam as a condition to approval for a life insurance policy.
Not all insurance companies require a medical exam, though. In recent years, many insurance companies have opted out of medical exams as a requirement. In fact, several no-exam insurance companies exist that offer quality life insurance policies at affordable rates. Below, we review several of the best insurance providers that offer no-exam life insurance.
Best For Quick Coverage: Bestow
Age 30 | Age 40 | Age 50 (10-year option only) | |
Male | $15.62/month | $22.29/month | $32.08/month |
Female | $12.71/month | $18.96/month | $24.79/month |
Maximum coverage: Up to $1 Million
Issue age: 21-54
A.M. Best rating: A+
Bestow is an online life insurance provider offering 10- and 20-year term life insurance policies. North American Company issues life insurance policies purchased through Bestow. Bestow does not require a medical exam to qualify for medical insurance. Instead of an exam, Bestow relies on algorithmic underwriting, which takes your application and available health data to determine risk and set premium costs.
Getting a quote from Bestow is free, and only basic personal and health information is required. You’ll be asked to provide more detailed information during the application process in place of a medical exam, including:
Medical history
Prescription history
Family history
Criminal history
Driving history
Many applicants receive decisions in minutes. Bestow life insurance is available for qualified American citizens and green card holders between 21 and 55.
Best For Options: SmartFinancial
Age 30 | Age 40 | Age 50 (10-year option only) | |
Male | $17.43/month | $24.12/month | $56.49/month |
Female | $14.99/month | $19.91/month | $41.23/month |
Maximum coverage: NA
Issue age: NA
A.M. Best rating: NA
SmartFinancial is not an insurance company. Instead, it is a technology company that created an online marketplace for various insurance policies, including life insurance. Customers can fill out one online application are receive multiple quotes from insurance companies, including American Family Insurance, AIG, American National, Nationwide and more. SmartFinancial searches over 200 insurance providers to find the best options available in your area.
While most customers will find the help they need online, SmartFinancial also offers free quotes over the phone and in-person with affiliated insurance agents. Rates, coverage and requirements vary with each affiliated insurance provider.
SmartFinancial saves considerable time and energy by providing one site to search, compare and find the right life insurance policy. Through SmartFinancial, you can find several insurance carriers that don’t require a medical exam.
Best Overall: Haven Life
Age 30 | Age 40 | Age 50 (10-year option only) | |
Male | $17.43/month | $24.12/month | $56.49/month |
Female | $14.99/month | $19.91/month | $41.23/month |
Maximum coverage: Up to $3 Million, Up to $1 Million without a medical exam
Issue age: 18-64
A.M. Best rating: A++
Haven Life partners with MassMutual to provide comprehensive term life insurance coverage for qualifying customers. Coverage is available for U.S. residents ages 18 to 65 and not active in the military or in the process of enlisting.
The online insurance provider uses algorithmic underwriting to determine risk and set premiums. Healthier applicants may qualify for its InstantTerm process, which provides instant coverage up to $1 Million without a medical exam. Haven Life may request a medical exam based on answers to application questions. Coverage is currently limited to individuals, so spouses would each need to apply for their own coverage.
Best For Less Coverage: Mutual of Omaha
Age 30 | Age 40 | Age 50 (10-year option only) | |
Male | $14.84/month | $23.01/month | $51.82/month |
Female | $13.33/month | $19.57/month | $40.21/month |
Maximum coverage: Up to $100,000
Issue age: 18-80 term life, 45-85 whole life
A.M. Best rating: A+
Mutual of Omaha has been in the life insurance business for over a century. The insurance giant carries permanent and term life insurance policies that may not require a medical exam. Coverage amounts are much lower than offered by other insurance carriers. Still, its reputation and history make it a top choice for life insurance if you don’t need higher coverage amounts.
Unfortunately, Mutual of Omaha’s application process may take longer than other providers on this list, depending on your application answers. Submitted applications go to a Mutual of Omaha agent, who then submits it for review by its underwriters. After reviewing the application and medical, pharmaceutical and motor vehicle reports, the underwriter either issues an application decision or requests a medical exam.
Best For Families: Fabric
Age 30 | Age 40 | Age 50 (10-year option only) | |
Male | $20.27/month | $27.99/month | $54.18/month |
Female | $19.01/month | $25.70/month | $46.49/month |
Maximum coverage: Up to $1 Million
Issue age: 25-60
A.M. Best rating: A+
Geared toward families, Fabric is an online insurance provider that offers term life insurance without the need for a medical exam. Its policies are issued by Vantis Life, with many applicants receiving an immediate decision. There’s a chance your application might need to be reviewed further by underwriters. Coverage may be subject to a medical exam in some cases.
Fabric life insurance policies can be managed online or through its mobile app. Customers also have access to a free last will and testament. Fabric’s term life insurance is available in the District of Columbia and all states except Montana, California and New York.
What Is A Life Insurance Medical Exam?
A life insurance medical exam is a medical exam required by many insurance companies when applying for life insurance policies. The purpose of a life insurance exam is to assess an applicant’s health to determine the risk of insuring them.
Life insurance medical exams typically include, but aren’t limited to:
Your medical history
Family medical history
Height
Weight
Blood pressure
Pulse
Urine test
Blood test
Life insurance medical exams aren’t performed by your own doctor, but by a paramedical professional chosen by the insurance provider.
Why Insurance Companies Require A Medical Exam
Insurance companies typically use medical exams during the underwriting process to calculate insurance premiums. Many insurers feel having a medical exam gives them a clearer picture of the whole health of applicants. Insurance companies that don’t require an exam often have higher premiums to compensate for taking on greater risk.
Why Should You Get A No-Exam Life Insurance Policy?
There are times when no-exam life insurance might make sense. If you have underlying medical issues, they might be revealed during a medical exam. This could lead to higher insurance premiums or even being denied for an insurance policy. There’s also a chance that a medical exam leads an insurance company to place too much emphasis on preexisting conditions or medical issues that are either under control or aren’t that big of a deal. Many people simply don’t like being examined by doctors, especially if they feel an exam is unnecessary and avoidable.
If you’re looking for life insurance, take time to research the insurance providers listed above to find the one that’s right for you.
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While we work hard on our research, we do not always provide a complete listing of all available offers from credit-card companies and banks. And because offers can change, we cannot guarantee that our information will always be up to date, so we encourage you to verify all the terms and conditions of any financial product before you apply.
