5 Best No Exam Life Insurance Companies In 2019 // Rates & Reviews

Oct 17, 2019 (0) comment

no exam life insurance companies

Top 3 No Exam Life Insurance Companies

1st


bestow life insurance logo

Bestow is backed by A+ rated North American, and is our #1 recommendation. Competitive rates and an instant approval process earned it the 1st spot.
Click below to get an accurate quote.

2nd


haven life review, haven life, haven life logo

Haven Life is backed by A+ rated Mass Mutual, and is our #2 recommendation. Solid rates and easy application process earned it the 2nd spot.
Click below to get an accurate quote.

3rd


fabric life insurance logo

​Fabric is backed by A+ rated ​Vantis Life, and is our #3 recommendation. ​​Free Wills and ​a fast approval process earned it the 3rd spot.
Click below to get an accurate quote.


Choosing the best life insurance company that does not require a medical exam can be complicated, and it's hard to know where to start with hundreds of companies and policies to choose from.

What if I told you we have taken all of the guess work out and narrowed it down by comparing 5 of the best no exam life insurance companies in the United States.

In this post we will compare and review these top life companies, explain why they are the best options in 2019 and go over some sample pricing to show who will give the best savings.

Let's dive in!

life insurance no medical exam

As Seen On...

Forbes
The Simple Dollar
Reviews.com
Insurance News Net
Go Banking Rates

Best life insurance no medical exam companies

1. Bestow

bestow life insurance logo

Bestow is our #1 recommended no exam insurance company.   

They are the only product on the market that offers a true no exam experience from the application process all the way through to the approval.

If you need affordable life insurance without medical exams, there is no faster option in the insurance space today.

bestow life

​Features & Benefits

Why buy coverage from Bestow? Here are just a few reasons they're our favorite...

  • ​Up To $1,000,000 In No ​Medical Exam Coverage
  • ​Get An Instant Approval In 5 Minutes
  • ​No Exam, No Blood Tests & No Waiting Period
  • ​Secure And Simple Online Application
  • No Pushy Sales Calls
  • 2 Year Term Option
  • 30 Day Money Back Guarantee

Bestow has also designed a brand new underwriting framework and built ​one of the best processes ​for instantly ​purchasing life insurance online.

​Your application will be underwritten in real time, so, ​the questions will change and update as you answer one question to the next.  This means that by the end of the application your underwriting is done and your decision is issued instantly.

​No other company ​has an underwriting platform that is designed to function the way Bestow has set theirs up.  Their policies are issued by North American Company for Life and Health Insurance which is rated A+(Superior) by A.M. Best.

Bestow Reviews (5/5) 

​Bestow has received over 100 reviews from verified policy holders, averaging 4.9 out of 5 stars.

In fact, they have an A rating from the Better Business Bureau (BBB), and even though they don't have any ratings on the BBB yet, they have absolutely no complaints filed against them.  

bestow bbb reviews

​Want to learn more? Read our full Bestow review here.

Bestow's No medical life insurance quotes

Bestow has some of the lowest prices when it comes to no medical exam term life insurance, check them out below:

  • Bestow Premiums For Women
  • Bestow Premiums For Men

*Sample are based on a 20 Year Term Policy - Non-tobacco Female with a preferred health rating

​Age

$250,000

$500,000


20


$11.00


$18.00


25


$11.00


$18.00


30


$13.00


$20.00


35


$15.00


$24.00


40


$20.00


$34.00


44


$26.00


$47.00

Keep in mind that the costs are going to be different for everyone based on your exact age but the above prices are pretty close.

As you can see, you can get a ton of coverage for a very affordable rate, to get the best rate you should look at different term lengths and coverage option combinations.

Pro Tip: If you are a tobacco user your cost is going to be a bit higher and the above sample rates don't apply to you.  It is best to click through to see your final cost.

Click here to see our guide to buying life insurance, full of tips, strategies and more!

Bonus: It is recommended that you purchase at the least 10x(times) your annual income when it comes to your insurance death benefit coverage.  However, I always like to recommend 15x to 20x(Times) if you can afford it.

Is Bestow The Best No Exam Life Insurance Company?

When it comes to life insurance without a physical exam Bestow is hands down the best when it comes to approval and application speed. 

We are seeing customers get a quote, apply, and get approved in under 5 minutes entirely online and without the need of an agent.

They are also one of the only companies that offers a no exam product that goes to $1,000,000 and they have some of the most affordable rates. 

*Rates From $2.50/month (30-Day Free Look Period)
*Based on a female in her mid 20's 2 Year Term, $50,000 term in excellent health.


2. Haven Life

haven life logo large

Coming in at a close second to Bestow is Haven, another one of the best places to buy no exam insurance when it comes to online life coverage.

Just like Bestow, Haven allows you to purchase a plan online very fast and you also have the ability for an immediate decision.

Even though they offer a 30 year term, there is a possibility, based on your health, you might require a medical exam. 

haven life

Features & Benefits

Some reasons why Haven made the cut:

  • ​Up To $3,000,000 In No ​Medical Exam Coverage*
  • ​Get An ​Immediate ​Decision In 10 Minutes
  • ​Secure And Simple Online Application
  • No Pushy Sales Calls
  • ​10 Day Money Back Guarantee

​*Depending on your health you might have to take an exam to be covered.

Haven is also one of the first places that offers the ability to apply for term insurance up to $3,000,000 with an easy, online process and without the need to consult an agent.

​Through its partnership with MassMutual, they have created a process called InstantTerm, which allows coverage to begin immediately for some qualified applications (up to age 45).

And just like Bestow, their system can underwrite you while you are completing the application for an Immediate Decision. Their policies are issued by MassMutual which is rated A+(Superior) by A.M. Best.

​Haven Reviews (4.8/5) 

Haven has received over 552 5-Star reviews on Trustpilot, so the overall experience that people are having with them is pretty good.

However, even though they have an A+ rating with the BBB they currently have a 1-star customer review and 2 customer complaints over the last 3 years about the speed of their approval process.

haven life bbb reviews

No Medical Life Insurance Quotes From Haven

Haven also has very affordable rates when it comes to term life with no medical exam which is great for savings.

  • HAVEN Costs For Women
  • Haven Costs For Men

*Based on a non-tobacco female with a preferred health rating looking for a 20 Year Term.

​AGE

$250,000

$500,000


25


$11.42


$16.83


30


$11.63


$17.25


35


$12.25


$18.50


40


$​16.00


$25.58


45


$22.46


$38.92


50


$​32.67


$58.08

Again, keep in mind that the pricing will be different for everyone based on your exact age and health but the above costs are pretty close to your real rate.

As you can see, you can get a ton of coverage for a very affordable rate, to get the best rate you should look at different term lengths and coverage option combinations.

Pro Tip:​ Once you click through any of these insurance companies you can get quotes without giving any personal information.

Is Haven The Best No Physical Life Insurance Company?

I would have to place Haven at second best when it comes to no exam coverage. 

This is primarily because they focus on instant decisions and not instant approvals. 

Essentially, they will tell you instantly if you need to take an exam, if you have been declined for coverage or if you have been approved. 

If you need more than $1,000,000 in coverage they are one of the best and fastest companies.

*Rates From $7.33/month (10-Day Free Look Period)
*Based on an 18 year old female buying a 10 Year $100,000 term, she is in excellent health and a non-tobacco user.


3. Fabric

accidental death insurance, fabric life, fabric life, logo

Fabric life has been putting a twist on life policies since it started and has recently launched its Fabric Premium product.  

​Along with offering a no exam option for up to $1,000,000 in coverage, they also offer free Personal Wills and all sorts of neat tools to manage your policy.

​If you need more than $1,000,000, however, you will have to take an exam.

fabric life home page

Features & Benefits

Fabric made the top 5 due to their fast application process, low cost, and the fact that they offer free personal Wills and special tools for policy management:

  • ​Up to $1,000,000 in no-exam coverage (for those who qualify).
  • ​Get A ​Quick Approval In 5 Minutes
  • ​Free Personal Wills
  • No Pushy Sales Calls
  • Secure And Simple Online Application
  • ​10 Day ​Free Look Period
  • ​Easy System To Share Your Policy With A Beneficiary

Like Haven & Bestow, Fabric accesses data, such as your motor vehicle and prescription drug records, and uses predictive analytics to decide whether you qualify and to determine your final cost.

​Fabric really wants to add additional focus around the entire idea of life insurance, from purchasing it, to managing it, and to having a personal Will.

​They also pioneered a software that allows you to share your policy information with a beneficiary super easy.

Their policies are issued by ​Vantis Life which is rated A+(​Superior) by A.M. Best.

​Fabric Reviews (4.7/5) 

Fabric has received over 1,216 4 & 5 - Star reviews on Trustpilot out of a total of 1,257 ratings, so over 97% of customers that purchased coverage, or obtained a free Will through them have had a great experience.

They have were recently Accredited, and have an A+ rating with the BBB along with 0 reviews and 0 complaints so far. 

fabric bbb reviews

Fabric No Blood Test Life Insurance Rates

Fabric life is going to have some very affordable prices out of the five carriers we have reviewed and comes with additional benefits like their free Wills.

Below are the sample rates:

  • Fabric Prices For Women
  • fabric Prices For Men

*Based on a 20 Year Term Policy - Non-tobacco Female with a preferred health rating

​Age

$250,000

$500,000


21


$14.37


$​19.80


25


$14.37


$​19.80


30


$14.66


$2​​0.43


35


$1​4.96


$​​21.05


40


$21.35


$​31.70


45


$​27.74


$​42.35

Pros Of Fabric No Medical Exam Life Insurance

The largest pro for Fabric is going to be that they want you to be part of an entire 360 life insurance process. 

They offer free Wills and a document vault software that allows you to keep your documents safe.

So you can get your life insurance, secure it and put a Will in place all at one time.

*Rates From $9.36/month (10-Day Free Look Period)
*Based on an 21 year old female 10 Year Term, $100,000 term in excellent health.


4. Ethos

ethos life logo

Last but not least we have Ethos which is the youngest entrant of the 5 carriers but still offers some great options for term life insurance with no exam online.  

They do offer higher benefit amounts than the above companies; however, the average person probably doesn't need the maximum amount of coverage they offer of $1,500,000.

ethos life

Features & Benefits

Ethos made the top 5 due to their fast application process and that they have multiple policy riders available, check out their plan benefits below:

  • Up To $1,500,000 In Coverage - No Medical Exam Required
  • ​Get A ​Quick Approval In 10 Minutes
  • No Physical Or Medical Exam, No Blood Tests & No Waiting Period
  • No Pushy Sales Calls
  • ​Secure And Simple Online Application
  • Return of Premium Term Life Option
  • 30 Day Money Back Guarantee

Like Haven & Bestow, Ethos accesses data, such as your motor vehicle and prescription drug records, and uses predictive analytics to decide whether you qualify.

Ethos really wants to focus on being ethical and helping you get fast insurance and without needing an agent or a medical exam.

Their policies are issued by ​Assurity Life which is rated A-(​Excellent) by A.M. Best.

​Ethos Reviews (4.6/5) 

Ethos has received over 190 5-Star reviews on Trustpilot out of a total of 236 ratings, so over 80% of customers that purchase through them have a great experience.

They have an A+ rating with the BBB along with 0 ratings and 0 complaints so far. 

ethos bbb review

Ethos No Exam Term Life Sample Rates

Ethos life is going to have some of the most expensive prices out of the policies we have reviewed; however, they offer up to $1,500,000 in coverage if you need that much:

  • ETHOS Costs For Women
  • Ethos Prices For Men

*Based on a 20 Year Term Policy - Non-tobacco Female with a preferred health rating

​Age

$250,000

$500,000


20


$14.00


$22.00


25


$14.00


$22.00


30


$14.00


$2​3.00


35


$19.00


$​32.00


40


$26.00


$​45.00


45


$34.00


$​60.00

Cons Of Ethos No Medical Exam Life Insurance

The largest con about Ethos is that it is super new into this space and they aren't fan's of offering quotes. 

They would prefer you went through the entire process before they give you an actual quote which we don't like that much. 

They also don't have the most affordable rates and the carriers above them offer much beter premiums.

*Rates From $8.00/month (30-Day Free Look Period)
*Based on an 18 year old female 10 Year Term, $100,000 term in excellent health.


5. Ladder

Ladder Logo, Ladder Life, Ladder Life Logo

Ladder Life is taking the normal life policy that required a medical exam and turning it on its head through a process they like to call Dynamic Life Insurance.

They have streamlined the ability to change your life coverage based on your current life events. 

​Once your initial coverage is in place, you can either "Ladder Up" your coverage or "Ladder Down" your coverage.

Like the other firms, they do offer the ability to get a policy with no exam.

ladder life home page

Features & Benefits

​Ladder made the top 5 due to their fast application process and that they give you the ability to easily increase or decrease your coverage over time.  Check out their benefits below:

  • ​No Exam Option Available
  • ​Get A ​Quick Approval In 5 Minutes
  • ​No Exam, No Blood Tests & No Waiting Period
  • No Pushy Sales Calls
  • ​Secure And Simple Online Application
  • ​Option To Ladder Policy Up or Down
  • 30 Day Money Back Guarantee
  • ​No Policy Fees

Like the other insurance firms, Ladder accesses data, such as your motor vehicle and prescription drug records, and uses predictive analytics to decide whether you qualify.

Ladder really wants to focus on offering a new way for you to purchase a life policy and helping you get it fast.

Their policies are issued by ​Fidelity Security Life which is rated A+(​Superior) by A.M. Best.

Ladder Reviews (4.5/5) 

​Ladder has received over ​355 5-Star reviews on Trustpilot out of a total of 414 reviews, so over 85% of customers that purchase through them have a great experience.

​I was unable to find anything through the BBB for them, they currently don't have a profile setup and no one has complained against them for anything.

Ladder No Physical Exam Life Rates

Ladder life is going to be expensive as well; however, they offer up to $8,000,000 in coverage if you need that much... Below are some sample pricing:

  • ladder For Women
  • LADDER For Men

*Based on a 20 Year Term - Non-tobacco Female with a preferred health rating

​Age

$250,000

$500,000


20


$15.00


$18.00


25


$15.00


$18.00


30


$15.00


$18.00


35


$16.00


$​21.00


40


$21.00


$​32.00


45


$30.00


$​49.00

*Rates From $8.26/month (30-Day Free Look Period)
*Based on an 20 year old female 10 Year Term, $100,000 term policy in excellent health.


The Types Of No Exam Life Insurance

There are a few different types of life insurance policies that won't require you to take a medical exam and they are: 

  • No Exam Life Insurance (Traditional)
  • Simplified Issue
  • Final Expense Insurance
  • Accidental Death Insurance

Before we go into how they are all different, it is essential to understand what no medical exam life insurance actually is. 

What Is No Medical Exam Life Insurance

A no medical exam policy is exactly what it sounds like; you won't need to take a medical exam in order to qualify for coverage.  

These policies only recently started being able to offer you up to $1,000,000 in coverage and 10, 20 and 30 year term options.

Depending on the company, any type of life insurance product can have a no exam version.

You are also going to get a much faster approval process with a no exam plan than you would with a policy requiring an exam. 

Since these insurance companies don't use a medical exam to determine if you qualify for coverage, they usually use:

  • Intelliscript - Think of it as a credit report for all of your prescriptions in the last 10 years.
  • MVR - Your motor vehicle report is used to make sure you aren't a crazy/risky driver.
  • MIB - Allows insurance companies to see if you have applied for  life insurance in the past

Now that you have a basic idea of what a no exam policy is and how it works, let's discuss the different no exam options. 

No Medical Exam Life Insurance (Traditional)

When people think of no health eaxm life insurance policies they often think it automatically means no underwriting and no medical records.

However, that isn't the case, a true no physical exam policy does just that, it doesn't require a physical, but it does require the same underwriting requirements of a normal life insurance policy:

  • ​Medical Records (APS)
  • ​Telephone Interview
  • ​Prescription Drug Report (Intelliscript)
  • ​Motor Vehicle Record (MVR)
  • Medical Information Bureau Report (MIB)

If you look at this list, you might realize that while a no exam policy is still faster, it only cuts about 2 weeks off of the wait time of a traditional life insurance application process.


No Exam Life Insurance


Overview

  • Must answer health questions to qualify
  • Can take between 4 to 5 weeks to get covered
  • More affordable than Guaranteed Issued
  • Best If you want term life without an exam

Coverage

Up to $500,000 (Depends on company)

Pros

Faster approval than traditional term route

Cons

Still not the fastest option for a life insurance approval

Simplified Issue

A simplified issue term life insurance policy is what most people are thinking about when they say they are looking for a life insurance policy with no physical. 

It's because this policy doesn't request a medical exam, nor does it require doctor records and most of the time no telephone interview; the underwriting requirements look like this: 

  • ​Prescription Drug Report (Intelliscript)
  • ​Motor Vehicle Record (MVR)
  • Medical Information Bureau Report (MIB)

These request can be pulled instantly during your application and by the time you are done, you get an answer of either Approved or Declined.

There really isn't any type of waiting and that is why it is called Simplified Issue.

Luckily for you, most of the products we discussed today offer this simplified issue style of approvals.


Simplified Issue Life Insurance


Overview

  • Must answer health questions to qualify
  • Approvals As Fast As 5 minutes
  • A little more expensive than the medical exam route
  • Best If you want instant term life without an exam

Coverage

Up to $1,000,000 (Depends on company)

Pros

  • Fastest approval option available 
  • No Medical Records Required
  • Real Time Underwriting

Cons

Must usually be under 50 and in good health to qualify

Final Expense Insurance

Final expense insurance is all about getting life insurance to cover your final expenses. 

These products will not require an exam and usually are focused on people between the ages of 50 to 85. 

Usually you will need to answer a list of health questions and can actually be approved on the spot by completing an application over the phone also known as a tele-app. 

There are a few different ways you can get approved with a Final Expense policy.

Level Policy Approval - With a level policy approval you will have the lowest rate available for a final expense policy and absolutely no waiting period.

Standard Policy Approval - With a standard policy approval you will have the second lowest rate and no waiting period.

Graded Death Benefit Approval - With a graded death benefit approval you will have higher than usual rates and usually a 2 year waiting period where your coverage "Grades" up to the full amount.

Guaranteed Issue Approval - With a guaranteed issue approval you will have the most expensive rates and usually a 2 to 4 year (depending on the company) waiting period. 


Final Expense Life Insurance


Overview

  • Must answer health questions to qualify
  • Approvals As Fast As 15 minutes
  • Most expensive of the other life insurance product
  • Best If you can't get traditional life insurance

Coverage

Up to $25,000 (Depends on company)

Pros

  • Great For People Over 50
  • No Medical Records Required
  • Telephone Application Available

Cons

Depending on your approval rates can be very high

Accidental Death Life Insurance

Accidental death insurance is going to be the most affordable option out of any type of no blood test life insurance.

However, it's also going to come with the least amount of coverage.

You don't have to answer any health questions and approval is guaranteed but you are only covered if you die from an accident.


Accidental Death Insurance


Overview

  • No Health Questions
  • Instant Approval
  • Most affordable no exam option
  • Best If you want to supplement a life insurance policy

Coverage

Up to $500,000 (Depends on company)

Pros

  • Lowest rates
  • No Medical Records Required
  • Instant Approvals

Cons

Only covers accidental death

How Much Does No Physical Life Insurance Cost?

All around the internet you have probably seen websites state that life insurance without medical examinations are going to cost more. 

This may have been true in the past; however, it is no longer the case; technology has finally caught up to the life insurance industry and it is helping to lower the overall costs. 

Check out our life insurance quotes for no medical exam companies below:

NO MEDICAL EXAM TERM LIFE INSURANCE RATES


Company


Medical Exam?


Approval Time?


$250,000 Quote*


Coverage Amount

bestow life insurance logo

5 OUT OF 5


No 


Less Than 5 Minutes


$16.00/month


$50,000 - $1,000,000

fabric life insurance logo

4.7 OUT OF 5


Not For Less Than $1 Million


Less Than 15 Minutes


$16.00/month


$100,000 - $5,000,000

Ladder Logo, Ladder Life, Ladder Life Logo

4.5 OUT OF 5


Not For Less Than $1 Million


Less Than 15 Minutes


$16.00/month


$100,000 - $8,000,000

haven life logo large

4.8 OUT OF 5


Possible Depending On Health


Less Than 10 Minutes


$18.06/month


$50,000 - $3,000,000

ethos life logo

4.6 OUT OF 5


Not For Less Than
$1 Million


Less Than 15 Minutes


$20.00/month


$25,000 - $10,000,000

*Rates are based on a 33 year old non-smoking male in excellent health looking for a 20 Year Term

How Much No Exam Coverage Do You Need

An insurance company will allow you to purchase up to 30x your annual income, but we recommend that you have at the least 10x your annual income in any type of life insurance.

So if you make $50,000 / year, a policy for $500,000 would be our suggestion. 

You can use our term life insurance calculator to figure out how much coverage you might need.

Just remember to buy life insurance that you can afford.

If the monthly cost of 10X your annual income is too expensive for you, go down to 5X your income, just make sure you can cover your beneficiaries life insurance needs.

How To Get Life Insurance With No Medical Exam

Buying life insurance that didn't require you to take a physical exam used to be a thing of myth only 10 years ago. 

Now, it is becoming the standard way to purchase an insurance policy and there are multiple ways to get it:

Through A Blog

At Simply Insurance we are both an insurance education blog and an online insurance agency. 

It is easy to not only get the information you need, but we have made it simple for you to apply for coverage online instantly for several types of insurance.

We were one of the first online agencies to focus on getting no exam products to our customers.

Blogs will have reviews on products and give you a better and unbiased idea of how a product works.

Best of all, it doesn't cost you anything extra to read our blog or to purchase coverage through one of our links. 

With An Insurance Agent

If you don't know your current medical situation or may have a special situation as far as lifestyle (professional race car driver) you might need to deal with an agent. 

Sometimes your best option is going to be to let an agent find the best offer for your situation  which can include an exam or no exam options.

Just like with a blog, you don't have to pay an insurance agent anything for their service and your monthly premiums won't be higher because you use them.

Directly Online

Another quick way is to just buy through the insurance company directly.  You can bypass speaking to an independent agent and don't have to worry about 100 phone calls. 

Keep in mind; however, you will only be dealing with that company so if you don't shop around you might be paying more out of pocket.

It doesn't matter which option you choose, the most important thing to do is make sure you choose one and get covered.

Who Is A No Exam Life Insurance Policy For?

No physical exam life coverage is best for people looking to get life insurance without waiting as well as: 

  • ​Someone afraid of needles
  • ​People who can't look at blood
  • ​You are trying to fund an SBA Loan fast
  • ​If you need life insurance as a young adult
  • ​If you don't have time to complete an exam
  • ​When dealing with life insurance and divorce
  • ​You Don't want to wait 3 weeks to get ​your coverage started

​​No medical exam life insurance ​is becoming the new way to purchase life insurance in general and if you need coverage fast, just go with no exam.

How To Apply For No Exam Life Insurance

1. Get A Few Quotes

The first thing you will need to do is to get a few life insurance quotes with no medical exam, you can get them with no personal information from here

2. Compare Rates

Once you have your quotes, it's time to compare them; you want to make sure you get the best combination of coverage for the lowest rate.

3. Submit Your Application 

The best thing about the companies we work with is that you can submit your application and get an approval within five minutes. 

4. Pay For Your Policy & Receive A Copy

Once you have been approved for your policy you can pay immediately and get a copy of it emailed to you.  Again, this entire process takes less than 5 minutes.

Bonus. Check out the how fast the enrollment process is for our top choice Bestow!

Advantages Of No Exam Life Insurance

Below are some of the advantages you will get when you purchase this type of policy: 

  • It's much simpler and fast to get a life insurance policy
  • These policies don't require a medical exam
  • Only a few health questions are asked
  • Affordable no medical exam life insurance rates are easy to find

Disadvantages Of No Exam Life Insurance

  • Your limits are usually capped at $1 Million in coverage.
  • Rates are more expensive than policies that require an exam.

Being able to get your life insurance in minutes and not days is one of the most important benefits of a no exam policy.

Take Action - You Decide

So there you have it, the 5 best no exam life insurance companies in 2019.

I hope you all enjoyed our review and are more educated on the best life insurance companies that will work for you when trying to get term life insurance with no medical exam. 

​Be sure to get covered as soon as it is possible and ​you should apply to more than one company if you can't decide because it doesn't cost anything to apply.

There is nothing better than peace of mind!


Sa El is the Co-Founder & CEO of Simply Insurance. He is a Licensed Life and Health Insurance Agent with over 11 years of experience in the industry. He is an Entrepreneur, Insurance Educator and Field Underwriter. Sa is on a Journey to get 1 Million Families insured.

All posts by Mark Mathon

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