No-medical-exam life insurance refers to any life insurance policy you can apply for without taking a medical exam. Instead of an exam, you answer health questions and the insurance company checks your medical and other records. You may also have a phone interview in some cases. It's best suited for the healthiest applicants. But if you qualify, you can get a policy within a few days, or sometimes instantly online.
To determine the best no-medical-exam life insurance companies, we analyzed over 50 data points from 91 companies and calculated scores based on the following categories: no-medical-exam availability and features (28% of the score), financial stability (15%), policy types and features (20%), customer satisfaction (15%), ease of application (13%), and online resources.
Top Picks for No-Medical Exam Life Insurance
Nationwide stands out with its generous coverage limits, customer satisfaction, and complimentary benefits. This type of insurance is ideal for those in good health, offering a swift and straightforward application process that bypasses the traditional medical exam. Instead, applicants provide health details and may undergo a phone interview. For the most robust candidates, coverage can be activated rapidly, sometimes even instantly online.
In our quest to identify the premier no-medical exam life insurance companies, we meticulously evaluated over 50 data points from 91 firms. Our assessment criteria included the availability and attributes of no-exam policies, policy diversity, financial robustness, customer contentment, application simplicity, and digital resources.
1. Nationwide Life Insurance
Nationwide is a well-rounded, financially stable life insurer that delivers across categories. That’s why it’s also our top pick for best life insurance companies. The company offers up to $5 million of coverage without requiring eligible applicants to undergo a medical exam. This is the second-highest amount among our top picks, and no-exam underwriting is available for most policy types.
Nationwide offers a variety of policy types, with the majority including three free living benefit riders. If you are diagnosed with a chronic, critical, or fatal illness, they may allow you to receive a portion of your death benefit while you are still living. Nationwide is one of only a few of the 91 life insurance companies we researched that provides this benefit.
Nationwide is one of the few life insurance providers that accept credit cards. Customers take notice—the company rated second in a J.D. Power customer satisfaction study and has received very few consumer complaints in the last three years, according to the National Association of Insurance Commissioners (NAIC).
If you're over 50, Nationwide's no-med-exam alternatives are less substantial, with only up to $1 million available if you're 51 to 60 years old. While this may be adequate for many applicants, it is far less than what some competitors provide for this age group. The company also provides funeral insurance with up to $50,000 of coverage that does not require a medical evaluation. However, it is only available to existing Nationwide policyholders.
Pros:
- No-medical-exam life insurance with up to $5 million coverage.
- Excellent customer satisfaction.
- A variety of policy categories.
- Most insurance offer three living benefits.
- Accepts credit card payments.
- The no-medical-exam coverage limit is less impressive if you're 50 or older.
- Burial insurance is only offered for existing customers.
2. Guardian
is lauded for its financial stability, providing up to $3 million in coverage without a medical exam for those up to 50 years old. Although not as high as some competitors, it's adequate for many. Guardian's A++ rating from AM Best underscores its exceptional claim-paying capacity. Despite this, the company's online presence could be improved, as it lacks detailed policy information and an online application process.
Pros
- No-med-exam life insurance with up to $3 million in coverage
- Highest financial stability rating
- Very few customer complaints relative to its size
- Policies are eligible for dividends
Cons
- Limited website information
- No online application
3. Penn Mutual
Penn Mutual provider is the best choice for high-coverage, high-issue-age no-medical-exam life insurance. The company provides up to $7.5 million in coverage to individuals as old as 64. None of the 91 life insurance companies we researched provided this much coverage without an exam. No other firm offered no-medical-exam life insurance over $1 million to 64-year-olds without receiving recent lab results and an attending physician's statement (APS).
Penn Mutual has paid dividends on eligible contracts annually for the past 174 years, which is one of the reasons it made our list of the best whole life insurance companies. Furthermore, the company provides very low-cost term plans for a variety of age groups and has a very low frequency of customer complaints, given its size, according to the NAIC.
However, Penn Mutual's website has much to be desired. Not only are quotes unavailable, but there is little information about the company's real offerings. To better understand your options and policy-specific features, contact an agent.
Pros:
- No-medical-exam life insurance with up to $7.5 million coverage.
- 64-year-olds can get life insurance without a medical exam.
- Strong dividend-paying history.
- Competitively priced term policies
- There are very few consumer complaints relative to its size.
Cons:
- Limited website information.
- Online applications are not available.
- Quotes are not available on the website.
4. Pacific Life Insurance
Over a three-year period, Pacific Life has got the fewest complaints proportional to its size. In fact, only two of the 91 insurers we analyzed received less complaints (both received none). Pacific Life also ranks fourth out of 21 firms in the J.D. Power customer satisfaction study.
The company provides coverage of up to $5 million without a medical exam to applicants under the age of 50, and $3 million to candidates over the age of 60. Many firms that provide no-medical-exam coverage to 60-year-olds do not provide as much as $3 million. Aside from Penn Mutual's $7.5 million coverage limit, $5 million is the maximum sum we've seen for any age group.
We particularly like how Pacific Life's website provides a lot of policy-specific information. You'll see policy names, coverage information, and whether they're available in your state. This amount of transparency is rare in the life insurance industry. Pacific Life also offers low term insurance, particularly for applicants in their forties and younger.
However, quotes are not available on the company's website, and any form of coverage must be applied for through an agent.
Pros
- No-med-exam life insurance with up to $5 million in coverage
- High issue ages for no-med-exam coverage
- Outstanding customer satisfaction
- Affordable term coverage
- Policy details are online
Cons
- Quotes unavailable on the website
- Can’t apply without an agent
Comparing No Medical Exam Life Insurance Options
| Criteria | Nationwide | Guardian | Penn Mutual | Pacific Life Insurance |
|---|---|---|---|---|
| Recommended For | Best Overall | Financial Stability | High Coverage | Fewest Complaints |
| AM Best Rating | A+ | A++ | A+ | A+ |
| Term Life Sample Cost | $26.25/month | $27.47/month | $23.92/month | $23.64/month |
| Policy Types | Final Expense, IUL, Term, UL, VUL, Whole | Term, UL, Whole | Term, UL, VUL, Whole | IUL, Term, UL, VUL, Whole |
| Accepts Credit Cards? | Yes | Yes | Yes | No |
- AM Best Rating: Reflects the insurer’s ability to fulfill its financial commitments.
- Term Life Sample Cost: Indicates the monthly premium for a sample term life policy.
- Policy Types: Lists the various insurance policies offered by the company.
- Accepts Credit Cards?: Specifies whether the company allows premium payments via credit card.
Conclusive Thoughts
The insurers listed here are all solid choices for obtaining life insurance without undergoing a medical exam. They boast A+ ratings or higher for financial strength and have fewer complaints than anticipated over a three-year average. If your coverage needs do not exceed $3 million and you're under 50, these companies are likely suitable for you. However, if you're over 50 and require a death benefit above $1 million, Nationwide may not meet your needs. For those over 60 seeking substantial coverage without a medical exam, Penn Mutual stands as the sole provider.
For term insurance, consider Penn Mutual or Pacific Life; for dividends, Penn Mutual or Guardian are your go-to options. Nationwide is the choice for complimentary living benefits, while John Hancock offers a wellness plan alongside life insurance.
Selecting a No Medical Exam Life Insurance Policy
Term life insurance is time-bound, expiring after a set period like 30 years, whereas permanent life insurance lasts a lifetime and is priced higher. Combining term and permanent policies can provide higher coverage during peak years, followed by sustained permanent coverage.
Term policies offer flexibility in term length, with some extending up to 40 years, and the possibility to transition to permanent coverage. Permanent policies accumulate cash value, which can be accessed through withdrawals and loans.
After determining your budget and coverage type, start by getting quotes from reputable companies known for customer satisfaction. Most of the 91 companies we reviewed offer no-exam policies. It's wise to first identify a reputable insurer, then explore their no-exam policy options. Our list and the best life insurance company rankings are excellent starting points. Remember to compare multiple quotes, as premiums can vary based on the underwriting approach.
Generally, the most competitive premiums are found with companies that conduct thorough health screenings via application questions.