Best No Exam Life Insurance Companies In 2020 // Rates & Reviews

Mar 10, 2020 (0) comment

best no exam life insurance companies

Our Top 3 Picks

1st


bestow life insurance logo

Bestow is backed by A+ rated North American, and is our #1 choice. Competitive prices and an instant approval process earned it the 1st spot. 

2nd


haven life review, haven life, haven life logo

Haven Life is backed by A+ rated Mass Mutual, and is our #2 choice . Solid prices and easy application process earned it the 2nd spot. 

3rd


fabric life new logo

Fabric is are backed by A+ rated Vantis and they are the best choice for young families. Older applicants will likely need an exam. 


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.

Let's dive in!

best no exam life insurance companies


As Seen On...

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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 coverage without medical exams, there is no faster option in the insurance space today.  

We have also found that Bestow is the best option for people with little to no medical conditions. 

bestow life

​Features & Benefits

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

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

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, all of your medical conditions have been checked, 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 coverage, 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 price, to get the best quote 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 quotes don't apply to you.  A $250,000 or $300,000 policy is going to cost much more because smoking can decrease your life expectancy, so it is best to click through to see your final cost.

Click here to see our guide to buying life insurance coverage, 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 benefits coverage.  However, I always like to recommend 15x to 20x(Times) if you can afford it.

*From $2.50/month (30-Day Free Look Period)
*Based on a female in her mid 20's 2 Year Term, $50,000 term with no health issues.


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 coverage options.

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 or medical conditions, you might require a medical exam. 

haven life

Features & Benefits

Some reasons why Haven made the cut:

haven benefits

Haven is also the first company that offered 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 underwriting process is fast and 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.

*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

fabric life new logo

Fabric life has been putting a twist on life policies since it started and has recently launched its Fabric term life product with a focus on new parents.

Along with offering a no exam option for up to $1,000,000 in life insurance, (for those who qualify) they also offer free Personal Wills and all sorts of neat tools to manage your life insurance policies.

Their algorithm works to try and accelerate younger and healthier applicants past the medical exam to offer instant coverage.

Fabric’s focus on new parents means applicants with health problem or are older are likely to be asked to take a medical exam.

However, for those that require a checkup, Fabric also makes it easy by allowing you to schedule a time online for them to send a health professional to your home or place of work - for free!

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

fabric 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:

fabric benefits

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

*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. 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 and that they give you the ability to easily increase or decrease your coverage over time.  Check out their benefits below:

ladder benefits

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

*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.


no medical exam companies

The Types Of Life Insurance With No Exam

There are a few different types of life insurance policies that won't require you to take a medical exam.  However, this doesn't mean that they won't look at your medical history.  They are: 

types of coverage

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

What Is Non Medical Life Insurance?

No medical exam policies are exactly what they sound like; you won't need to take a medical exam in order to qualify for coverage.  

This does not mean they don't check your medical history; there is still an underwriting process you will need to go through. 

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 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 carriers to see if you have applied for life insurance in the past

Now that you have a basic idea of what no exam policies are and how they work, let's discuss the different no exam options. 

No Medical Exam Life Insurance (Traditional)

When people think of no health exam life insurance policies they often think it automatically means no underwriting and no medical history or 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 History & 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.

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.

section about simplified issue insurance

Final Expense Insurance (Whole Life)

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

These products are traditionally going to be a form of Whole Life insurance and 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. (Age limits are usually between 50 and 85)

Guaranteed Issue Policies With a guaranteed issue policy you will have the most expensive rates and usually a 2 to 4 year (depending on the company) waiting period. A company offering this product can issue policies much faster than normal.  However, the downside is that if you have a life expectancy of less than 2 years this product would not work for you. (Age limits are usually between 50 and 85)

section about final expense insurance

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 lowest coverage amount.

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

section about accidental death insurance

How Much Does No Physical Life Insurance Cost?

All around the internet you have probably seen websites state that life insurance, that won't require medical exams 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 COSTS

section about life rates

*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

A life 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 insurance products.

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 the coverage amount 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 much life insurance can you get without a medical exam?

If you need life insurance that won't require a medical test, you are able to get up to $1,000,000 in life insurance. 

Some life insurance products claim to offer more than 1 Million in coverage without an exam, but I haven't seen a customer get approved for that coverage amount without an exam.

For now, it looks like $1 Million is the max for coverage without an exam.

Can you get life insurance if you have a pre existing condition?

You can absolutely get life insurance if you have a pre-existing condition; however, you will see higher rates and it's also going to depend on your condition.

It's much easier to get covered if you have something like high blood pressure that is under control, than it is if you are diabetic. 

You can always apply for a no-exam policy but keep in mind, you will still go through some form of underwriting and it is a possibility that you can be declined for coverage. 

Do you have to have a physical for term life insurance policies?

While you don't have to have a physical for term life insurance policies, there are some limitations on the amount of coverage you can qualify for.  

If you want more than $1,000,000.00 you will absolutely have to get a physical, but anything around 1 Million or below and you can apply without an exam and get a fast approval. 

You also have to consider your current medical condition, because if you don't have good health you probably won't qualify for the no physical option.

Who Is A No Exam 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
  • Someone with a low amount of medical conditions

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 policies.

How To Apply For No Exam Coverage

how to apply for term insurance

(You should also have personal & health information ready such as your drivers license number and social security information)

Take Action - You Decide

So there you have it, the best life insurance companies that don't require an exam  in 2020.

Be sure to get started as soon as it is possible and feel free to 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 and protecting your family!


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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