Best 20 Year Term Life Insurance No Medical Exam ​​Rates In 2020

Oct 16, 2019 (0) comment

20 year term life insurance no medical exam

​If you have been looking into a ​20 year term, you might be wondering if it is the best option for you and your family.

But hear me out:

Did you know that getting a life insurance policy for 20 years without a medical exam isn’t a complicated process, and you could actually get quotes and ​coverage in less than 5 minutes?

20 year term life insurance no medical exam

​Today I will go over why you may need a ​20 year term life insurance policy with no medical exam, why it’s one of the most affordable life insurance options and how to purchase coverage fast.

​In This Article

​Is 20 Year Term Life Insurance No Exam ​The Best Option?

​If you are looking for the most affordable life insurance option available, then you should probably be looking at the 20-year term option.

When dealing with term life insurance, you are going to see a ton of different options from 10 year term life insurance with no exam, 15, 20, and 30 Year Term Life Insurance.

​The 20 year term policy is right in the middle and generally is going to give you the best of both worlds in regards to premium and protection.

This policy is best for people who need coverage for an extended period of time.

How Much Does 20 Year Term Life Insurance Cost?

​The price of a 20 year term is going to be different for each person and is determined by:

Your Health

Before anything, they will look at your overall health; this area is going to be different for everyone.  

Your height and weight are also considered in an application for life insurance.

Therefore, you might be very healthy and take no medications, but if you have a below average or above average weight, it can affect your monthly costs.


Your gender is going to be a strong determining factor used in determining your rates for your 20 year term policy with no exam.

Overall, women will always receive better insurance rates than men because they tend to live longer than men on average.

Your Lifestyle

Do you skydive? Drive race cars? Go Scuba Diving? Skiing? Anything like that or travel to exotic places.

Anything like that can affect your monthly premiums and make your rates totally different.


Age is another factor that an insurance company is going to use when it comes to a 20 year term policy.

Determining your age is essential in figuring out how long you might live and what risk you may bring to the company.

We have a great post that lists all the term life insurance rates by age.

Tobacco Usage

The next thing that makes a huge difference in your term life rates is going to be if you are a smoker.

If you smoke, you can expect to see your cost become almost double the price of someone who doesn’t smoke.

This is honestly the best reason to stop smoking; there are even some companies that will consider you a non-tobacco user after just 12 months of not smoking.
Let’s check out some rates below.

​20 Year Term Life Insurance No Exam Quotes & Rates

As we discussed earlier, a no exam term life insurance policy for a term of 20 years is going to be the most affordable option of almost any term life policy.

Life Insurance No​ Medical Exam Rates For Men




20 Years Old



25 Years Old



30 Years Old



35 Years Old



40 Years Old



44 Years Old



*Rates are based on a 20 year non-tobacco male with preferred health

Life Insurance No​ Medical Exam Rates For Women




20 Years Old



25 Years Old



30 Years Old



35 Years Old



40 Years Old



44 Years Old



*Rates are based on a 20 year non-tobacco female with preferred health

Advantages of 20 Year Level Term Life Insurance

​​There are several advantages ​of this policy which we discuss below:

​Still Affordable Rates

​20 year terms are still going to be affordable, actually, much more affordable than a 30 year term policy.

​I have found a 20 year term to actually have the best rates along with a very long term length.

​Don't shy away at looking a 20 year term rates because they are probably more affordable than you think.

​Your Rates Will Be Locked In

Another great benefit is that your rates will be locked in for 20 years.

As long as you pay your premiums, your rates will not change during your term, and your policy can't lapse.

​Even if you are diagnosed with a new condition during your term, it will not affect the rates.,
Policy Can Be Renewed

You can also renew your term policy after 20 years if you are unable to get approved through traditional underwriting methods.

You Can Convert Your Policy

​Near the end of the term you will have the option to convert the policy into a whole life policy if you decide to.

This can usually be completed without you having to go back through ​underwriting.

However, keep in mind that the coverage amount will decrease significantly. 

Your Kids Will Be Grown When It Ends

If you have kids, they are going to be at the least 20 years old when the policy ends and won't require the same amount of support that they would have when they were younger.

This is important to remember because you probably won't need as much coverage and your house and car notes will probably be paid off or close to being paid off by then as well.

Your kids will be able to have their own coverage at that point.

Disadvantages of 20 Year Term Life Insurance No Exam

Depending on your situation, the same things that make a 20 year term great could also be the same thing that makes them not good.

​Your Term Will End...​Eventually

​Your policy will only last for the 20 year term, once that is up, you will either have to pay some pretty high rates or cancel the policy. 

​The goal is to have everything in order before this policy ends so that you no longer need the coverage and your family no longer would need the policy if you passed away.

However, that usually isn't the case and we still need coverage after 20 years.

​A Return of Premium Policy Could Work Better

You might be better off looking ​at return of premium term life insurance quotes because they return all of the premium you paid into the policy at the end of the term.

This means if you outlive your policy you will be given a lump sum check that you can use for whatever your hearts content.

​Think of it as a savings account with a free life insurance policy attached. 

​It's The Second Most Expensive Option

A 20 year term is going to cost more monthly than a 5, 10, or 15 year term policy. 

While you might have your rate locked in for 20 years it will still cost a bit more on a monthly basis. 

​Who Needs A 20 Year Term Life Insurance Policy?

New College ​Graduates

If you are ​graduating from college, especially ​if you become an attorney or a doctor, you will probably be seeing a change in income and your lifestyle.

​Locking in your rates for 20 years will be great because you are about to start adulting and insurance is always an important thing to start with.

​People In Their 30's

​Life insurance for a 30 year old is going to be important because that age is where almost everything starts to happen.

If you aren't married you probably will be getting hitched soon and if you don't have a baby yet, they are probably on the way.

You are solidified in your career and lifestyle and need to make sure you put maximum protection on your family.

You would also be 50 by the time the term ended and shouldn't need as much coverage by then.

​To Fund An SBA Loan

​If you are getting a small business loan, you might be required to get life insurance before they will fund the loan.

According to Fundera, most long term loans ​​can go past 15 years so a 20 year term would be the best option for you.

It is also going to have super low rates and when you choose a ​no physical life insurance​ ​policy you can have your policy issued in under 5 minutes.

This way life insurance isn't holding up your loan being funded.

​​Young Adults

​Life insurance for young adults can sometimes be seen as unnecessary.

However, there isn't any situation where you shouldn't have life insurance.

As a young adult, you are dealing with things like finishing school, going into your career, getting married, having a kid, buying a home, or a new car.

​It is a smart move to have some life insurance while you are finding yourself, and there is nothing better than a 20 year term.

It gives you the ability to have a very affordable life insurance policy that gives you the time you will need to figure things out.

​Add Your Kids As Riders

If you have any kids under the age of 18 you need to have them as a rider on your term life insurance policy.

This coverage is usually a set price for all of your kids based on the amount of coverage.

​So, $25,000 in coverage for 2 kids would cost the same as $25,000 for 5 kids.

​Some ​people don't think kids need life insurance, but I think they need life insurance because their burials still cause an expense.

​Best 20 Year Term Life Insurance Company

​While there are some excellent ​​no exam term life insurance companies to choose from, we haven't found any better than Bestow life.

Check out our quick overview of them below:

bestow life insurance logo

About Bestow Life Insurance

Bestow ​is backed by North American Company for Life and Health Insurance.

North American has been around for over 100 years and was founded in 1886, and as of today North American holds an A+ (Superior) rating with A. M. Best.

Bestow believes that great life insurance should be affordable, convenient, and smart.

And every bit as straightforward as buying any other gift for your family.

Product Features

  • Available for ages 21 through 55
  • Coverage amounts from $50,000 to $1,000,000
  • Not Yet available in NY
  • No physical exam life insurance
  • Tobacco & Non Tobacco Rates
  • E-Signature & Simple Application Process
  • No Waiting Period
  • Accelerated Underwriting
  • 2 Year Term Option Available

Riders & Options

No additional riders or options are available on this policy yet such as the accelerated death benefits, term life conversion option, or accidental death benefit rider.

Simply Insurance Thinks

Bestow is the most affordable simplified issue, no physical exam term life insurance product in the market. We are ​seeing clients go from application to approval within 5 minutes​.

​Bestow can cover you faster than any product on the market.

Want to learn more about them? Check out our full Bestow life insurance review.

​How To Get A 20 Year Term Life Insurance Policy Today

​Now that you know ​how affordable a 20 year term life insurance no exam policy is you shouldn’t wait another minute procrastinating.

The longer you wait, the more expensive insurance becomes, and it also becomes harder to obtain.

You can get quick quotes and buy your​ policy fast by clicking the button above, and you can also check out​ the review we discussed above.

It’s great that you know you need life insurance, now it’s time to get to it.

Sa El is the Co-Founder of Simply Insurance and a licensed Insurance Agent with over 11 years of experience in the industry.  He specializes in Life & Health Insurance and is certified in Long Term Care Insurance in the state of Georgia. He is also an Official Member of the Forbes Finance Council, a licensed real estate agent in the state of Georgia (License #382602), an entrepreneur, insurance educator, and freelance writer.

All posts by Mark Mathon

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