10 Best No Medical Exam Life Insurance Companies in December, 2024

AARP members aged 50 to 74 and their spouses ages 45 to 74 can apply for AARP’s no medical exam term life insurance, and the coverage can last until the insured’s 80th birthday. Although the death benefit stays level through the term, the annual price increases each time the insured person enters a new five-year age band.

AARP’s term life policy can be converted to permanent insurance at or before age 80. The rates for permanent coverage will be based on age. The AARP term life product features coverage amounts of $10,000 to $150,000 (or $100,000 in New York), although higher amounts may be available. Applicants answer a few health questions and provide other health information but do not have to take a medical exam.

In addition to no-exam term life, AARP offers no-exam whole life insurance and guaranteed acceptance whole life (not available in all states). These policies are available to AARP members, ages 50 to 80, and their spouses, ages 45 to 80.

I believe AARP is the best overall because the life policy is underwritten by New York Life, one of the leading providers of life insurance in the United States for over a century. You’ll also have a membership with AARP, which offers many discounts to seniors and provides a wealth of information on aging.

The largest market for no-exam life insurance is the senior market. Mutual of Omaha has been selling no-medical exam life policies for decades, and the company knows the senior market very well through its no-exam life insurance and Medicare supplement products. Mutual of Omaha sells two types of no-medical exam life insurance: simplified issue and guaranteed issue.

Simplified issue life insurance doesn’t require a medical exam, but you will have to answer health-related questions on your application. Based on your answers, coverage can be denied. Guaranteed issue not only doesn’t require a medical exam, but you also aren’t asked any medical questions on your application. You are guaranteed to be issued a policy, hence the name.

Based in Omaha, Nebraska, Mutual of Omaha is a household name for seniors who grew up watching its flagship program, Wild Kingdom. The company has one of the most respected names in the insurance industry.

Haven Life’s no-exam life policy is called “Haven Simple,” which describes the product very well. It’s a term life policy issued to people aged 20 to 55, with face amounts ranging from $25,000 to $ 1 million. No medical exam is required, but you will have to answer questions about your health and lifestyle. It is a no-medical exam policy but not a guaranteed issue policy.

What makes Haven stand out is its user-friendly website and quick application process. There is no need to meet with a life insurance agent, but you can talk with one by phone at Haven if you need to. The website will walk you through the buying process, from deciding how much coverage you need to complete an application.

Unlike most other no-exam life insurance, Nationwide’s Simplified Whole Life Policy offers coverage for customers younger than 20 years old. The company issue policies to applicants 80 years old or younger. This is significant because many parents want to buy life insurance for their children to own, but they don’t want their kids to undergo a medical exam to get coverage. Nationwide has solved that problem.

The biggest drawback to this policy is the limited face amounts available. Coverage is only available from $10,000 to $50,000 ($25,000 to $50,000 in Washington). If the insured wants more protection, they’ll have to buy another policy to supplement this one.

State Farm is recognized for its exceptional policyholder service, consistently earning high customer satisfaction ratings from J.D. Powers. This is partially due to the company’s large number of agents, which exceeds that of any other insurance company in America.

State Farm’s dedication to having a strong presence in nearly every populated area has resulted in a reputation for outstanding customer service. The company has thousands of local offices located throughout the U.S., providing policyholders with the convenience of meeting with their local agent in person.

State Farm’s Instant Answer Term Insurance has no medical exam policy. It provides $50,000 of death benefit protection until age 50 or a maximum of 10 years, whichever is longer. With this policy, you can apply for coverage and, if approved, purchase the policy on the same day at an agent’s office.

I selected Transamerica for two main reasons: price and availability. Transamerica consistently has lower prices than many major life insurers, particularly for younger adults. With its Trendsetter Super term life policy, coverage is available for $25,000 to $10 million and up, with no medical required for up to $2 million for qualifying applicants (qualification determined by answering health questions).

Transamerica life insurance is also readily available for younger people interested in no-medical exam life insurance. Because of its low price and high commission payout, many independent life insurance agents represent Transamerica and sell it to younger, price-conscious buyers. Transamerica has been around for many years; unfortunately, its reputation and ratings for customer service are lower than many other insurance companies.

Many people think that USAA only sells insurance to military members and their families, but that’s only partially correct. USAA makes its life insurance products available to everyone, military and non-military. Active-duty military personnel receive extra benefits, including $25,000 for expenses after severe injury and guaranteed insurability if they leave the military.

USAA’s life insurance product line is built around its portfolio of term life products. Term life insurance’s primary purpose is to meet a temporary need, like protecting your family while you have a mortgage or until the kids graduate.

The company’s Essential Term policy doesn’t require a medical exam but is only for those aged 21 to 35, and it expires when you turn 39. Coverage is capped at $100,000. Currently, Essential Term is not available in Arizona or New York.

If you’re looking for a term life policy with a large face amount without having to take a medical exam, Pacific Life meets the need nicely. The company’s Promise Term product offers high coverage amounts with no exam (up to $3 million). It’s available to applicants up to age 70 and is competitively priced.

The downside to Pacific Life’s offering is the length of time it takes for an application to be approved or declined. Promise Term has a longer median application approval time (23 days) than most companies. The term lengths available range from 10 to 30 years.

We live in a fast-paced world, and people expect quick approval when they pay hard-earned money with their applications. Brighthouse Financial delivers.

Brighthouse offers competitive rates, comprehensive coverage, and application decisions in as little as 24 hours, making it an excellent choice for people who want to get life insurance coverage quickly without having to take a medical exam.

In addition to wanting things quickly, we want them how we want them, not just what an insurance company tells us we can have. Country Financial does an excellent job of offering customizable no-exam term life insurance.

For starters, you can add an accelerated death benefit rider that allows you to use part of your death benefit while you’re alive to help with terminal illness expenses. It is a no-cost add-on.

Other extra features available for an additional cost include a return-of-premium rider that refunds the premiums you’ve paid if you’re still living at the end of a 20 or 30-year policy; a disability waiver of premium that pays your premiums if you become disabled before age 65, and a child term insurance rider that lets you add up to $50,000 or term life coverage for each of your kids who are 17 or younger.