Affordable Life Insurance No Medical Exam in 2021 

Affordable Life Insurance No Medical Exam in 2021 

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Life insurance companies base your rates on several factors including length of term, coverage level and your health.

No medical exam life insurance is offered as a convenience for those people who don’t have the time or inclination to sit through an exam, also for certain individuals with medical conditions that may be uninsurable through traditional policies.

However, there are many misconceptions regarding these policies. Before you decide if these plans are right for you, it’s important to understand some basic facts about them.

Affordable Life Insurance No Medical Exam in 2021 is the fastest growing segment of the life insurance business.

Just like fully underwritten term policies, most no exam term policies run for a period  or “term” of 10-30 years.

So while your past medical history is available to the insurer, any current information that would be obtained by a blood sample is not available.

This may be important if you have not been to a doctor recently.

It is all too common for life insurance applicants to discover a condition when they get lab results (and a bad rating) from the carrier after applying for life insurance.

This situation  can be avoided by getting  life insurance with no exam and and then following up with your doctor for an annual physical.

3 Benefits of Affordable Life Insurance No Medical Exam

There are three significant benefits to using Life Insurance No Medical Exam.

For some it’s the inconvenience of fasting prior to the exam, for others, it’s the time. And, for still others, it’s the needles & blood.

Whatever the rationale, lots of people have no interest in submitting to a life insurance medical exam.


Convenience-  While the thought of giving blood and urine samples to a nurse upsets some much more than others, nobody looks forward to the experience.


Fear of the Unknown While No Medical Exam policies do not require blood and urine samples they are medically underwritten. The underwriting is done on the basis of medical records, prescription checks, driving records and the MIB or Medical Information Bureau.


Speed of Issue-  Because there is no requirement for a medical exam and lab results, underwriting is dramatically faster. Rather than waiting 6-12 weeks to get a typical policy in force a No Exam policy is often in force in 2-12 days.

Disadvantages of Life Insurance No Medical Exam

  • Less Coverage: Most people who opt for no exam life insurance are applying for smaller amounts of insurance. Coverage amounts up to up to 500k.
  • Cost: Can be more expensive than medically underwritten life insurance. 

Types Of Life Insurance No medical Exam 

There are 2 types of Life Insurance No medical Exam: Guaranteed Issue Life Insurance and Simplified Life Insurance.

What is Guaranteed Issue Life Insurance?

The idea behind a guaranteed life insurance policy is the ability to secure life insurance coverage where you may have been declined for medical reasons, or simply a way to get insurance without having to go through lengthy applications and medical exams.

Most guaranteed life insurance quotes require only your resident state, age, gender and if you are a tobacco user.

It is a fast and simple process to apply.

Perhaps ten minutes on a telephone call is all that is required on your part.

You will be approved, generally, within 48 hours.

It’s as simple as that, but that convenience normally comes at a cost.

Guaranteed acceptance life insurance plans are called guaranteed because you won’t be declined for your health history, or for failing a medical exam or for smoking.

This is because your medical history does not factor into the underwriting process.

There are some companies that require you to answer five or six questions.

However, most life carriers do not require any questions be answered other than basic name and address and beneficiary information.

Guaranteed issue life insurance goes by many names such as burial life insurance plans, final expense plans, guaranteed acceptance, and many others. These policies may go by many different names, but the key attributes of a guaranteed issue life insurance policy will include:

  • No medical questions
  • Guaranteed acceptance
  • Level premiums
  • Permanent coverage
  • Reduced face amounts
  • Possible waiting periods
What is Simplified Life Insurance?

Preparing your family financially for your death can be difficult if you have health problems or are ‘up in years.’

Traditional life insurance policies base your premiums on your riskiness, or how soon they may have to pay out on your death.

Simplified life insurance is a version of final expense insurance and best fits seniors with moderate health issues that don’t qualify for traditional life insurance.

Many insurance companies offer both simplified term and simplified whole life policies.

Simplified life insurance offers up to $100,000 (depending on the company) for final expenses. You only have to complete a medical questionnaire – there’s no medical exam necessary.

If you opt for simplified whole life, though, it typically doesn’t accumulate a cash balance like traditional whole life policies.

How is the questionnaire for Simplified Life Insurance

The questionnaire contains an average of 20 ‘yes or no’ questions about your medical history.

The questions are basic enough and inquire about any serious medical issues you’ve had recently, as well as recent hospitalizations, terminal illnesses, and lifestyle habits.

The insurance company verifies your answers with the information from your Medical Information Bureau file (your credit report of your medical history).

Make sure you tell the truth on the questionnaire as insurance companies cross-reference your answers and deny applications with any signs of fraud.

How much life insurance can I get without a medical exam?

A no exam policy represents a greater risk to the insurer.

Because they don’t have the health information that comes from a medical exam, they assume you have higher mortality risk.

One of the main ways insurers minimize their risk is to limit the amount of life insurance coverage you can get without a medical exam.

How much life insurance you can get without a physical is usually limited to face values of $500,000 and below.

You won’t be able to get a million-dollar life insurance policy without a medical exam. 

How much does no exam life insurance cost?

A no exam life insurance policy is a big selling point for some, but it might cost more in the long run.

A no exam policy represents a greater risk to the insurer. They pass that risk along to you in the form of increased premiums.

A young person might not see much difference in rates between an exam and no exam life insurance policy, but older people can expect to pay more.


No Exam versus Traditional Life Insurance Policies


When you apply for traditional life insurance, your health plays a major role in determining your premiums.


And we’re not talking about your general health — we are talking detailed health questions, including inquiries into your BMI, chronic diseases, medical history, how often you exercise, how much you sleep, the state of your mental health, and more.

Genetics also plays a role, and you will also be asked whether your family has a history of heart disease, diabetes, cancer, etc.

When you apply for no exam life insurance, you don’t have to expose your medical history in such an open manner.

That’s one of the benefits, along with fast approval times, an easy application, and not having to waste hours at the doctor’s office.

For both traditional and no exam policies, it’s crucial to provide accurate information when applying.

What are the tradeoffs with no-exam life insurance?

So you’re considering no medical exam life insurance, but you’re probably wondering the obvious question: What’s the catch?

Well, it’s how much you are willing to pay for life insurance.

If you want to pay less, you should consider a fully medically underwritten policy.

Medically underwritten or individually underwritten coverage is usually less expensive than an entirely no-exam life insurance policy, especially if you’re already fairly healthy, but that means getting a life insurance medical exam in many cases.

These medical examinations are relatively short, only taking about 20 minutes to run through various medical questions and basic tests (including a blood draw). This is all a part of the underwriting process.

The upside is that, because you’re providing the most accurate portrait of your overall health and medical history, the life insurance company can offer you the best possible rate for your life insurance policy.

The other upside is that in some cases you won’t actually need a medical exam for medically underwritten coverage (more on that later).

How to choose the right policy for you

Here are four scenarios that can help you decide whether a no-exam life insurance policy is a good fit for you:

If you want: The convenience of a 100% no-exam life insurance policy

Consider: Simplified issue life insurance

Here’s why: If you under no circumstances want to take a medical exam, then consider a simplified issue policy first. You’ll generally be limited to a face amount of $500,000 or less, so make sure that’s enough coverage for your family’s needs. Use a life insurance calculator to estimate how much coverage you may need. (Remember, life insurance isn’t about the medical exam, it’s about the people you are financially protecting.)

With a simplified issue policy, you’ll have to pay higher premiums to compensate the insurer for taking on more risk by not fully knowing your medical history. But the convenience may be worth paying more.

If you want: More affordable life insurance coverage

Consider: Medically underwritten term life insurance

Here’s why: If you are price-sensitive, then you may want to consider medically underwritten term life insurance. This life insurance policy will most likely be your most affordable option.

Historically, most medically underwritten policies require a medical exam. However, thanks to recent underwriting innovation in the life insurance industry, it may not be required for qualified applicants to take a medical exam.

If you want: Coverage and you have significant medical conditions

Consider: Guaranteed issue life insurance and accidental death insurance, but start with a medically underwritten or simplified issue policy if you haven’t applied already

Here’s why: If you want coverage, but are worried about your eligibility because of health issues, it may still be worth it to apply for a medically underwritten policy first before you consider other options.

You don’t need to be in your 20s or super healthy to qualify for affordable rates if the coverage requires a medical exam or some kind of medical underwriting. While it’s time-consuming to apply for multiple life insurance policies, keep in mind that the end goal is peace of mind (for you) and financial protection (for your loved ones). And, you want to get the most value possible.

If you have a number of health issues or pre-existing medical conditions — or if you’ve been turned down for other life insurance policies — guaranteed issue or accidental death coverage can be a valuable financial solution to help your loved ones with funeral or other expenses if you were to pass away.

The Differences 

When looking at guaranteed issue vs. simplified issue no exam life insurance, they have their differences.

The one thing they have in common is that they both don’t require a medical exam.

Outside of that, they are different in every category.

Coverage caps – the simplified issue has a much higher coverage cap at $500,000 to up to $1,000,000.

Guaranteed issue caps out at $25,000.

Application and Underwriting – Simplified issue will ask health questions and do a full underwriting outside of the medical exam.

So you have to be fairly healthy to qualify. Guaranteed issue is the exact opposite, no health questions, no underwriting, guaranteed approval.

The one other thing they have in common is that they both cost a more than a traditional life insurance policy of equal coverage amount.

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