Affordable No Exam Life Insurance – Sample Rates By Age

Affordable-No-Exam-Life-Insurance, sample-rates-by-ageAre you shopping for an affordable life insurance policy that does not require a medical exam?

You’ve come to the right place! We can help you find the least expensive life insurance policy available that does not require a medical exam. In some cases, we can even get your life insurance policy approved in less than a week.

Our agency proudly represents dozens of highly-rated life insurance companies. By working with a variety of companies, we’re able to match our clients with the most affordable no-exam life insurance policies available.

Continue reading to learn how we can help you save money on the cost of your no-exam life insurance policy.

Quick Article Guide:

  1. What is No Exam Term Life Insurance?
  2. Why Purchase No Exam Term Life Insurance?
  3. No Exam Life Insurance Coverage Options and Approval Guidelines
  4. What is No Exam Whole Life Insurance?
  5. How We Can Help You with No Exam Life Insurance

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What is No Exam Term Life Insurance?

No exam term life insurance works just like any other traditional term life insurance policy. Term life insurance offers the most coverage for the least amount of money. With term life insurance, you select the amount of coverage you need and the amount of time that you need the coverage for.

The amount of coverage your policy offers is referred to as the policy’s “face amount”. The length of the insurance policy is called the “term”. If you pass way during the “term” of your life insurance policy, your beneficiary or beneficiaries receive the “face amount”.

No exam term life insurance should not be confused with the accidental life insurance your bank or credit card company may have offered you. These life insurance policies do not ask any health questions or require an exam because the policy will only pay if the insured dies in an accident.

cheap-no-exam-life-insuranceAll term life insurance policies cover the insured if they pass away from a health issue like a heart attack, stroke, cancer, or from an accident. In fact, term life insurance will even cover suicide after the policy has been active for two years.

During the “term” of your policy, the cost of your insurance policy is guaranteed not to change regardless of any changes to your health or lifestyle. Term life insurance is sold in 5 year increments and the most common terms available are 10, 15, 20, 25, or 30 years.

These policies are usually purchased to protect a life event like securing an income for your family until you reach retirement age or securing a mortgage. Term life insurance can also be purchased for business purposes like securing an SBA Loan or funding a buy-sell agreement.

Traditionally, term life insurance has required a free in-home medical exam for approval. This requirement created a problem for busy executives, people who need their life insurance in a hurry, or people who can’t stand the thought of giving blood.

In recent years, however, more and more life insurance companies have started offering competitively-priced life insurance without requiring an exam.

Instead of requiring an in-home exam, the insurance company will conduct a phone interview and electronically review your medical records, prescription history, and driving record.

Why Purchase No Exam Term Life Insurance?

In the past, no exam term life insurance was most commonly purchased by business owners who needed a quick approval to secure an SBA loan, or by divorcees who needed life insurance in a hurry to settle a divorce decree.


This convenience came at a cost, though; a no exam term life insurance policy used to cost at least 30% more than an identical term life insurance policy with an exam. For some of our clients, the extra cost was worth getting a loan approved sooner, or staying in favorable graces with the court.

However in 2016, a few “A+” rated life insurance companies began offering the same rates to applicants applying for term insurance with or without a medical exam. In addition, most no exam life insurance policies are approved in a matter of days, not weeks.

The reduction of cost and the speedy approval of these policies have made them a favorite for people with young children, busy schedules, or anyone that doesn’t want to give up part of their weekend to complete an in-home exam.

We’ve provided some actual rates for no exam term life insurance below: 

Actual Rates for No Exam Term Life Insurance, $250,000, 10-Year Level Term – Ages 35 to 60

*Displayed monthly rates are for an applicant in excellent health. These are actual rates from an “A+” rated insurer and are accurate as of 01/15/2017

If you would like an accurate insurance quote based on your actual age and health, we can help. Our agents will shop dozens of life insurance companies on your behalf to provide you with the best insurance options available. Please feel free to give us a call at 855-902-6494, or request a free quote online here.

No Exam Life Insurance Coverage Options and Approval Guidelines

Here are some general guidelines for one of the A+ rated life insurance companies we work with that offers term life insurance without a medical exam:

  • Term Lengths Available: 10, 15, 20, 25, and 30 years
  • Coverage Amounts Available: $100,000 minimum – $500,000 maximum
  • Ages Available: 18-60
  • Health Risk Classes Available: All underwriting classes (Fair to Excellent Health)

What will the insurance company review when they are approving my life insurance application?

  1. Prescription History
  2. Motor Vehicle Reports (Driving Record)
  3. Medical Information Bureau
  4. Telephone Interview
  5. Medical Records at Insurance Company’s Discretion

All life insurance companies have age and coverage limits for their no exam term life insurance policies. Most life insurance companies will offer up to $500,000 of coverage without an exam to applicants between the ages of 18 and 60.

affordable-no-exam-term-life-insuranceAfter the age of 60, a few companies will offer up to $100,000 of term life insurance to applicants between the ages of 61 and 66 without requiring an exam for approval.

If you are 67 or older, and need term life insurance, we recommend completing a free exam for your life insurance policy. Although it may be inconvenient, it will save you a considerable amount of money on the cost of your life insurance policy.

If you are 67 or older, and cannot complete a free exam, whole life insurance may be your only option for life insurance. We’ll explain these policies in the next section.

What is No Exam Whole Life Insurance?

Unfortunately, not all traditional whole life insurance policies are created equal. There are many types of whole life insurance and each type of policy varies greatly.

Many whole life insurance policies will approve anyone regardless of their health. These policies are called “Guaranteed Issue” life insurance and they offer life insurance without an exam, medical questions, or even checking the applicant’s medical records.

These “No Questions Asked” life insurance policies are usually advertised heavily on TV and through the mail. Oftentimes, these policies are also endorsed by celebrities or even organizations like AARP.

While purchasing a life insurance policy through the mail may seem convenient, there are much better options available for people who are in fair or better health for their age.

Guaranteed issue life insurance companies assume a larger risk because they have no way to assess the health of the applicants they are insuring. These companies offer life insurance to people who would otherwise be uninsurable, so in order to stay in business and be profitable, guaranteed issue policies have mandatory waiting periods where they do not offer full coverage for the first two years of the policy.

In addition, these companies must charge more for their life insurance policies to pay for the increased risk and the celebrity endorser or organization that is marketing on their behalf.

Guaranteed issue life insurance policies are also commonly limited to $25,000 of coverage or less. The majority of these policies, including policies sold by some of your favorite celebrities, increase your rates every 5 years until the policy is unaffordable.

A guaranteed issue life insurance policy should only be purchased as a last option for people with serious health issues who are in need of burial insurance. If you are in fair or better health, we recommend working with a no-cost broker that can find your best options for life insurance.

At JRC, we also offer guaranteed issue life insurance from a variety of companies, but only to individuals who cannot qualify for anything else. By asking you a few questions about your health, we’ll quickly compare your best options for coverage.

We also offer whole life insurance without an exam, but the companies we recommend will electronically review your medical records before approving your policy. This allows them to charge less for their life insurance and offer their clients fixed rates that do not increase as you get older.

If you are considering purchasing a whole life insurance policy and you do not want to take an exam, make sure you ask your agent or insurance company these 3 questions before buying the policy:

  1. Will my rates ever increase?
  2. Does this policy have a waiting period?
  3. Does my coverage expire at age 80?no-exam-whole-life-insurance

If your agent says “Yes” to any of these questions, you may want to reconsider your options. Most of these policies will double in cost every 5 years, making the policy unaffordable when you need the insurance the most.

Our agency only offers no exam whole life insurance policies with fixed rates and coverage until age 100 or later.

How We Can Help You with No Exam Life Insurance

Our agency is licensed nationwide and we work directly with 47 life insurance companies. By having access to so many life insurance companies, we’re able to shop the market on our client’s behalf to match them with the best life insurance options available.

If you have questions about no exam term life insurance, or if you would like to get an accurate quote, please feel free to give us a call, toll-free at: 855-247-9555. You can also request a free instant life insurance quote by clicking on the link below.

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Cliff Pendell

VP of Marketing at JRC Insurance Group
Cliff is a licensed life insurance agent and one of the owners of JRC Insurance Group. He has helped thousands of families of businesses with their life insurance needs since 2012 and specializes with applicants who are less than perfect health. In his spare time he enjoys spending time with family, traveling, and the great outdoors.
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