There are only a select few of no medical exam life insurance companies. They quite literally mean they will offer you life insurance coverage, and there is no medical of any kind in order to purchase it.
This doesn’t mean you can still apply in bad health, it just means you can have your life insurance policy faster, and with much more convenience.
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Still have questions about no medical exam life insurance companies and who they are? Keep reading.
No Medical Exam Life Insurance Companies
There are plenty of ways to buy life insurance, but doing so without having to go through an exam is a convenience many people are willing to pay for. And, believe it or not, some companies do offer it.
There aren’t many no medical exam life insurance companies, but those who do have it available can issue you life insurance decision in as little as 48-72 hours! Just so you know, the typical turnaround time is 4-6 weeks!
- No Blood Draws
- No Inconvenient Meetings
- Online Applications
- Fast Coverage
So it sounds perfect and dandy right? Well, don’t forget they will charge a “convenience fee” if you want to call it that. Basically, the premium you pay for a no exam life insurance policy will be a few dollars more per month than if you were to undergo the full medical (if you are healthy and can qualify for the best rates). No medical exam life insurance companies have to offset their own risk, and a small “convenience fee” is how they accomplish it.
There are five primary no medical exam life insurance companies and, in alphabetical order, they are:
ANICO has a no exam policy for adults up to age 65, and a maximum coverage amount of no greater than a quarter million. They won’t offer you coverage lower than $50,000, so if you’re seeking a final needs type of policy, you won’t use this carrier.
ANICO is pretty speedy, offering coverage in as little as three days if you are healthy. If you have any kinds of ailments, this will not be the right carrier for you either. They do have some of the most competitive rates, so if you can get accepted, you’ll pay great prices.
While Americo will only issue up to age 60 instead of 65, they do allow more in coverage amounts. They will allow no medical coverage to extend up to $400,000.
The convenience factor is not as great with Americo, as they not only don’t allow you to purchase online, but the process of getting your policy issued can still take a couple weeks.
While this still beats a traditionally underwritten policy, you won’t need to use Americo unless the premium is significantly lower or you need a higher coverage amount.
Assurity is a great option as well, as their non-med policy will issue coverage up to age 65 with insurance amounts up to $350,000.
For someone in between 60 and 65 needed a larger face amount, this is probably who you’ll want to choose. It can take a couple weeks to get your policy still, this can be taken care of easily over the phone with your agent.
Assurity is currently very competitive not only between 60-65, but their rates are quite good if you are looking for life insurance in your 50’s as well.
Fidelity Life has the broadest range of policies to suit you needs among the different no medical exam life insurance companies. Not only do they have a policy made for someone up to age 70, but also another policy which can go up to $1,000,000 in coverage.
If you are in the older age group, the non-med insurance works a lot like a graded life insurance policy, because the benefit amount is not the full face amount in the beginning months. But after the specified time period, you get the full payout.
If you are someone looking for anything over a half a million in coverage, this is probably your best bet. While the insurance is comprised of two types, regular life insurance and accidental, the accidental portion can be converted to regular life insurance over time if you choose to complete an exam.
If you complete your exam and can’t qualify, your coverage won’t change or go away!
The National Life Group has a pretty specific no medical life insurance policy. It’s truly instant coverage, and you can get a decision as fast as you can fill out their application. They offer insurance up to $350,000 if you’re in good health.
If you use tobacco of any kind, the rates here are particularly good, but always check with an agent first to make sure they are the lowest.
How To Pick Among The No Medical Exam Life Insurance Companies
Most of the time, you’ll still need to contact us to find out which company is offering the best rates for you at this current time frame. These companies all have their specific advantages and disadvantages, but they are pretty comparable.
These are, however, fantastic if you are unsure of your health. Let’s say you hadn’t been to the doctor in a while, and you’re not sure you’re as healthy as you used to be. Even if it’s just high blood pressure you’re worried about, this might be the way to go.
Contact us for more information or instructions on how to apply.
We’d be happy to assist you through the process to pick the best of the no medical exam life insurance companies.