No-exam life insurance policies can be purchased online, by phone, by mail, or in person with a licensed insurance agent, just like most other types of insurance. Because these policies don’t require a medical exam, the process is usually much faster than buying traditional life insurance. And just like buying any other type of insurance, comparing quotes from multiple providers is the best way to make sure you get the lowest possible rate for a no-exam life insurance policy.
How to buy a no-exam life insurance policy in 5 easy steps
Connect with a licensed insurance agent. Policygenius’ licensed insurance agents can help you confirm the coverage you need and determine if you’re eligible for a no-medical-exam policy.
Complete your application. Your agent will help you fill out basic identifying information about your age, health, gender, income, and how much coverage you’re looking for.
Complete a health interview. Here, you’ll answer more detailed questions about your medical history. Make sure to have the names of any prescription medications or any physicians you’ve seen on hand,
Wait to hear back from the insurer. After the interview, the life insurance company will verify your health information and your identity through secure databases such as the MIB — the Medical Information Bureau. This typically only takes a few days, but that will vary from one company to the next.
Sign your policy documents and make your first payment. Once you have your application decision and final rate, you can either accept and sign your policy documents and make your first payment, or choose to apply with another insurer.
Rates for no-exam life insurance
The chart below shows the annual rates for both traditional term life insurance policies and no-exam term life insurance policies. You can see that rates for no-exam life insurance policies tend to be slightly lower than traditional life insurance policies, which is one of the advantages of purchasing a no-exam policy.
25-year-old female non-smoker | 25-year-old male non-smoker | 35-year-old female non-smoker | 35-year-old male non-smoker | 45-year-old female non-smoker | 45-year-old male non-smoker | |
|---|---|---|---|---|---|---|
$250,000 traditional term life coverage | $172.58 | $210.56 | $202.18 | $235.94 | $349.24 | $435.80 |
$250,000 No-exam term life coverage | $152.93 | $185.09 | $175.97 | $198.41 | $308.57 | $385.93 |
$500,000 traditional term life coverage | $258.58 | $338.40 | $318.92 | $390.04 | $602.52 | $771.16 |
$500,000 No-exam term life insurance | $227.93 | $292.06 | $276.29 | $324.84 | $538.58 | $685.51 |
Methodology
Why you can trust our rates
Our recommendations are based on internal and external expert analysis, as well as our Policygenius Life Insurance Price Index, which uses real-time data from leading life insurance companies to determine pricing trends. When reviewing a life insurance company, our editorial team uses a proprietary scoring rubric with five factors — price, policy details, financial strength, transparency, and customer experience — to assign an unbiased rating between one and five stars. These ratings are also taken into consideration as part of our company recommendations. We don’t get paid for our reviews.
The traditional term life insurance rates in the chart above are from Corebridge Financial, Haven Life, Legal & General America, Lincoln, Mutual of Omaha, Pacific Life, and Protective. The no-exam term life insurance rates are from Everly, Foresters, and Lincoln.
Our reviews and recommendations can help you find a reliable insurer for your family’s financial protection, but the best life insurance company for you depends on multiple factors. A licensed agent at Policygenius can support you during the application process to ensure you get the right coverage for your circumstances at the most competitive price.
What happens if my no-exam life insurance application is declined?
Getting declined for a no-exam life insurance policy doesn’t necessarily mean that you won’t be eligible for coverage or that your rate will be more expensive. It simply means that the insurer needs more information to assess your risk and might ask you to take an in-person medical exam.
The insurer will give you a reason for their decision to decline your application, and based on the information provided, your agent can help you decide how to move forward in getting coverage.
What options do I have if I’m not eligible for no-exam life insurance?
If a no-exam policy is not an option for you, you can apply for a fully underwritten policy. This means you’ll have to go through the traditional application process, which includes an in-person medical exam.
A fully underwritten option will also allow you to apply for higher coverage amounts if you need them — most no-exam options cap coverage at $1 million to $3 million.
Depending on your health profile, you may have more affordable options if you’re willing to take a medical exam.
