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Best No-Exam Life Insurance Of December 2022

Amy Danise

Reviewed By

Amy Danise
editor

Reviewed By

Updated: Dec 22, 2022, 5:50pm

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations.

No-exam life insurance gives you the convenience of avoiding a life insurance medical exam as part of the application. But not all choices are created equal, and sometimes rates can be high.

We scored providers based on price and coverage benefits to help you find the best no-exam life insurance.

Read more

Best Instant No-Exam Life Insurance


Brighthouse Financial

Brighthouse Financial
5.0
Our ratings take into account the historical performance of a company's cash value life insurance policies. All ratings are determined solely by our editorial team.

Policy scored

SimplySelect Term

Median time for no-exam application approval

Same day

Term lengths available

10, 20 or 30 years

Brighthouse Financial
Compare Quotes

Compare quotes from participating carriers via Policygenius.com

Policy scored

SimplySelect Term

Median time for no-exam application approval

Same day

Term lengths available

10, 20 or 30 years

Why We Picked It

The Brighthouse SimplySelect Term policy offers insurance buyers convenient same-day approvals and high coverage amounts at competitive rates. Brighthouse’s SimplySelect was developed in collaboration with Policygenius and is currently available only through Policygenius.

Pros & Cons
  • High no-exam coverage amount available of $2 million.
  • Possibility of same-day approvals.
  • Fewer term length options than other companies we analyzed.
  • For policies issued at age 65 or older, you can convert the policy to permanent life only during the first five policy years.
Brighthouse No-Exam Life Insurance Rate Examples

Rates shown are for Brighthouse’s SimplySelect Term policy for people in excellent health.

20-year, $500,000 policy Annual rate
Male age 30 $240
Male age 40 $340
Male age 50 $885
Female age 30 $190
Female age 40 $285
Female age 50 $680
Source: Policygenius

Legal & General America (Banner Life)

Legal & General America (Banner Life)
5.0
Our ratings take into account the historical performance of a company's cash value life insurance policies. All ratings are determined solely by our editorial team.

Policy scored

Banner Life OPTerm

Median time for no-exam application approval

8 days

Term lengths available

10, 15, 20, 25, 30, 35 or 40 years

Legal & General America (Banner Life)

Policy scored

Banner Life OPTerm

Median time for no-exam application approval

8 days

Term lengths available

10, 15, 20, 25, 30, 35 or 40 years

Why We Picked It

No-exam life insurance shoppers will enjoy Legal & General America’s low rates, high maximum no-exam coverage amount and wide selection of term lengths.

Pros & Cons
  • Second-lowest rates among the companies we analyzed.
  • High no-exam coverage amount available of $2 million.
  • Instant approvals are available if you qualify.
  • Excellent selection of term lengths.
  • Can be converted to a universal life insurance policy.
  • High eligible age (60) for the maximum coverage amount of $2 million compared to others analyzed
  • For policies issued to buyers age 66 or older, you can convert the policy to permanent life only during the first five policy years.
Legal & General (Banner Life) No-Exam Life Insurance Rate Examples

Rates shown are for Legal & General OPTerm policy for people in excellent health.

20-year, $500,000 policy Annual rate
Male age 30 $226.73
Male age 40 $349.99
Male age 50 $829.87
Female age 30 $192.20
Female age 40 $284.87
Female age 50 $652.19
Source: Policygenius

Lincoln Financial

Lincoln Financial
5.0
Our ratings take into account the historical performance of a company's cash value life insurance policies. All ratings are determined solely by our editorial team.

Policy scored

TermAccel

Median time for no-exam application approval

5 days

Term lengths available

10, 15, 20 or 30 years

Lincoln Financial
Compare Quotes

Compare quotes from participating carriers via Policygenius.com

Policy scored

TermAccel

Median time for no-exam application approval

5 days

Term lengths available

10, 15, 20 or 30 years

Why We Picked It

Lincoln Financial’s no-exam TermAccel offers excellent life insurance rates with a high eligibility age for the maximum coverage amount.

Read More: Lincoln Financial Life Insurance Review

Pros & Cons
  • Lowest rates among the companies we analyzed.
  • Can be converted to a permanent policy.
  • High eligible age (60) for the maximum coverage amount of $1 million compared to others analyzed
  • After the first 7 years of the policy, you may be able to convert, but only to a product Lincoln
  • Financial chooses for you at that time.
  • No instant approvals.
Lincoln Financial No-Exam Life Insurance Rate Examples

Rates shown are for Lincoln Financial’s TermAccel policy for people in excellent health.

20-year, $500,000 policy Annual rate
Male age 30 $226.74
Male age 40 $339.94
Male age 50 $829.88
Female age 30 $192.21
Female age 40 $284.88
Female age 50 $652.25
Source: Policygenius

Jenny Life

Jenny Life
4.5
Our ratings take into account the historical performance of a company's cash value life insurance policies. All ratings are determined solely by our editorial team.

Policy scored

Simplified Issue Term

Median time for no-exam application approval

Instant

Term lengths available

10, 15, 20 or 30 years

Jenny Life

Policy scored

Simplified Issue Term

Median time for no-exam application approval

Instant

Term lengths available

10, 15, 20 or 30 years

Why We Picked It

Through its Simplified Issue Term no-exam policy, Jenny Life offers instant approvals, low rates and low minimum face amounts, although the maximum age for buying was among the lowest for maximum coverage amounts.

Pros & Cons
  • Low minimum face amount available ($25,000) compared to other companies we analyzed.
  • Instant approvals available.
  • Low age maximum (age 45) for the highest coverage amount available.
Jenny Life No-Exam Life Insurance Rate Examples

Rates shown are for Jenny Life Simplified Issue Term policy for people in excellent health.

20-year, $500,000 policy Annual rate
Male age 30 $255.50
Male age 40 $354.05
Male age 50 $927.10
Female age 30 $219
Female age 40 $299.30
Female age 50 $675.25
Source: Policygenius

Transamerica

Transamerica
4.5
Our ratings take into account the historical performance of a company's cash value life insurance policies. All ratings are determined solely by our editorial team.

Policy scored

Trendsetter Super

Median time for no-exam application approval

12 days

Term lengths available

10, 15, 20, 25 or 30 years

Transamerica
Compare Quotes

Compare quotes from participating carriers via Policygenius.com

Policy scored

Trendsetter Super

Median time for no-exam application approval

12 days

Term lengths available

10, 15, 20, 25 or 30 years

Why We Picked It

The Trendsetter Super no-exam life insurance policy offers shoppers low rates, high coverage amounts and a good choice of term lengths to meet a variety of life insurance needs.

Pros & Cons
  • Highest maximum age for renewal (105) among the companies we analyzed.
  • Large selection of term lengths offered.
  • High no-exam coverage amount available of $2 million.
  • Low age maximum (45) for the highest no-exam life insurance amount available, compared to other companies we analyzed.
  • You can convert policies up until the end of the initial level premium or the insured’s 70th birthday, but only to a policy Transamerica chooses at that time.
Transamerica No-Exam Life Insurance Rate Examples

Rates shown are for Transamerica Trendsetter Super policy for people in excellent health.

20-year, $500,000 policy Annual rate
Male age 30 $230
Male age 40 $410
Male age 50 $855
Female age 30 $195
Female age 40 $329
Female age 50 $655
Source: Policygenius

Prudential

Prudential
4.0
Our ratings take into account the historical performance of a company's cash value life insurance policies. All ratings are determined solely by our editorial team.

Policy scored

Term Essential

Median time for no-exam application approval

21 days

Term lengths available:

10, 15, 20 or 30 years

Prudential
Compare Quotes

Compare quotes from participating carriers via Policygenius.com

Policy scored

Term Essential

Median time for no-exam application approval

21 days

Term lengths available:

10, 15, 20 or 30 years

Why We Picked It

Life insurance shoppers seeking a high amount of no-exam coverage will enjoy the $3 million coverage limit with Prudential’s Term Essential.

Read More: Prudential Life Insurance Review

Pros & Cons
  • High no-exam coverage amount of $3 million available.
  • High eligible age (60) for the maximum coverage amount of $3 million compared to others we analyzed.
  • Flexible conversion features include the choice of multiple permanent life insurance products when converting, partial conversions and the ability to convert term life policies to survivorship policies.
  • Longer median application approval time than most companies we analyzed.
Prudential No-Exam Life Insurance Rate Examples

Rates shown are for Prudential Term Essential policy for people in excellent health.

20-year, $500,000 policy Annual rate
Male age 30 $420
Male age 40 $520
Male age 50 $1060
Female age 30 $335
Female age 40 $475
Female age 50 $925
Source: Policygenius

SBLI

SBLI
4.0
Our ratings take into account the historical performance of a company's cash value life insurance policies. All ratings are determined solely by our editorial team.

Policy scored

Level Premium Term

Median time for no-exam application approval

29 days

Term lengths available:

10, 15, 20, 25 or 30 years

SBLI
Compare Quotes

Compare quotes from participating carriers via Policygenius.com

Policy scored

Level Premium Term

Median time for no-exam application approval

29 days

Term lengths available:

10, 15, 20, 25 or 30 years

Why We Picked It

No-exam life insurance shoppers can choose from a wide variety of term lengths with SBLI’s Level Premium Term policy. Although its rates were not among the lowest we analyzed, SBLI offers a high eligibility age for the maximum coverage available.

Pros & Cons
  • Large selection of term lengths offered.
  • High eligible age (60) for the maximum coverage amount of $750,000.
  • Maximum age for renewal of 85 is lower than most other companies we analyzed.
  • Lowest maximum no-exam coverage among the companies we analyzed.
  • Conversion to a universal life policy is available only on face amounts of $100,000 or more.
  • Longer median approval time compared to top competitors.
SBLI No-Exam Life Insurance Rate Examples

Rates shown are for SBLI Level Premium Term policy for people in excellent health.

20-year, $500,000 policy Annual rate
Male age 30 $239.89
Male age 40 $375.62
Male age 50 $999.99
Female age 30 $207.56
Female age 40 $296.13
Female age 50 $725.00
Source: Policygenius

Ethos

Ethos
4.0
Our ratings take into account the historical performance of a company's cash value life insurance policies. All ratings are determined solely by our editorial team.

Policy scored

Ethos Term Life

Median time for no-exam application approval

Instant

Term lengths available

10, 15, 20, 30 years

Ethos
Compare Quotes

On Ethos Life's Website

Policy scored

Ethos Term Life

Median time for no-exam application approval

Instant

Term lengths available

10, 15, 20, 30 years

Why We Picked It

Ethos Term Life offers the lowest minimum face amount among the companies we analyzed, along with instant approvals. Life insurance shoppers looking for a high coverage amount can find that, too.

Pros & Cons
  • High no-exam coverage amount available of $2 million.
  • Lowest minimum face amount ($1,000) of the companies we analyzed.
  • Instant approvals available.
  • Does not offer conversion to a permanent policy.
Ethos No-Exam Life Insurance Rate Examples

Rates shown are for Ethos Term Life for people in excellent health.

20-year, $500,000 policy Annual rate
Male age 30 $240
Male age 40 $420
Male age 50 $984
Female age 30 $192
Female age 40 $324
Female age 50 $792
Source: Policygenius

Summary: No-Exam Life Insurance Ratings

Company Forbes Advisor Rating Median time for no-exam application approval Maximum coverage for no-exam policy LEARN MORE
Brighthouse Financial 5.0 5-removebg-preview Same day $2 million Compare Quotes Compare quotes from participating carriers via Policygenius.com
Legal and General - Banner Life 5.0 5-removebg-preview 8 days $2 million View More
Lincoln Financial 5.0 5-removebg-preview 5 days $1 million Compare Quotes Compare quotes from participating carriers via Policygenius.com
Jenny Life 4.5 4.5-removebg-preview-1 Instant $1 million View More
Transamerica (Trendsetter Super policy) 4.5 4.5-removebg-preview 12 days $2 million Compare Quotes Compare quotes from participating carriers via Policygenius.com
Prudential 4.0 4-removebg-preview-2 (1) 21 days $3 million Compare Quotes Compare quotes from participating carriers via Policygenius.com
SBLI 4.0 4-removebg-preview-2 (1) 29 days $750,000 Compare Quotes Compare quotes from participating carriers via Policygenius.com
Ethos 4.0 4-removebg-preview-2 (1) Instant $2 million Compare Quotes On Ethos Life's Website
Bestow 3.0 3-removebg-preview Instant $1.5 million Compare Quotes On Bestow.com's Website
Sproutt 3.0 3-removebg-preview Instant $1 million Compare Quotes On Sproutt's Website
Transamerica (Trendsetter Living Benefits policy) 3.0 3-removebg-preview 23 days $2 million Compare Quotes Compare quotes from participating carriers via Policygenius.com
Haven Life (Haven Term policy) 2.5 2.5-removebg-preview 4 days $1 million Compare Quotes On Haven Life's Website
Ladder 2.5 2.5-removebg-preview Instant $3 million Compare Quotes On Ladder's Website
Haven Life (Haven Simple policy) 2.0 2__1_-removebg-preview Instant $500,000 Compare Quotes On Haven Life's Website

What Is No-Exam Life Insurance?

No-exam life insurance is exactly what it sounds like: Life insurance that does not require a life insurance medical exam.

The typical medical exam required by life insurance policies includes a series of questions related to your health and medical history, followed by a paramedical professional recording information like your blood pressure, weight and height. You will likely be asked to provide blood and urine specimens for testing. Depending on your age and health, you may be required to do some additional testing, such as an electrocardiogram (EKG).

No-exam life insurance, such as the policies we have rated above, are best suited for life insurance buyers who are in excellent health and who are younger (typically 50s and under), rather than high risk life insurance applicants. If your health or age disqualify you from a no-exam policy, that doesn’t necessarily mean the company will turn you away. Instead, they might offer to do a more traditional underwriting process with a life insurance medical exam.

So if you apply for no-exam life insurance, be prepared for the possibility that the company may end up wanting more details and an exam.


Types of No-Exam Life Insurance

Accelerated underwriting life insurance

Accelerated underwriting is a process where the insurer gathers information about you electronically and then algorithms quickly assess what your life insurance quote should be.

The personal information gathered can include prescription drug histories, motor vehicle records, criminal records and “risk scores” created by third-party services.

Accelerated underwriting policies offer the convenience of no exam and can be priced as competitively as a policy that requires an exam.

Simplified issue life insurance

Simplified issue life insurance is a type of life insurance where companies use a streamlined approach to underwriting. These policies typically involve only a few health questions and do not require medical exams. The cost of simplified issue policies tend to be higher than policies done with accelerated underwriting or medical exams, because the insurer has minimal information about you.

Guaranteed issue insurance

Guaranteed issue life insurance policies offer coverage with no medical exam and no questions. You can’t be turned down. Guaranteed issue life insurance is intended mainly for seniors looking to cover final expenses. These policies usually have low maximum coverage amounts and a graded death benefit, meaning they won’t pay out the full amount if you pass away in the first few years of owning the policy.

Guaranteed issue policies are generally the most expensive way to buy life insurance, because no one is turned down.

We did not include guaranteed issue life insurance in our analysis of the best no-exam life insurance.


Is No-Exam Life Insurance Right For You?

If you are in good health and are a non-smoker, a no-exam life insurance policy can be a convenient choice if you want quick, low-hassle, but competitively priced coverage. No-exam life insurance is also a solid option for young people who want quick coverage without jumping through a lot of application hoops.

“Individuals most likely to be accepted for no-exam life insurance are those who have provided more accurate information upfront, are seeking death benefit amounts that are a couple million dollars or less and who have few chronic medical conditions,” says Fred Tavan, chief pricing officer of Legal & General America.


How to Choose the Best No-Exam Life Insurance For You

Calculate how much life insurance you need

A no-exam life insurance policy may not be able to provide the full coverage amount you need, especially if you’re looking to cover many working years or the years of raising a family.

Before you start getting life insurance quotes, calculate how much life insurance you need. A no-exam policy alone may not be able to provide sufficient coverage.

Know your chances before you apply

Getting life insurance without a long application process is appealing, but don’t jump into a no-exam life insurance application without understanding your chances of getting approved. Many no-exam policies require very good or excellent health for approval. A denial goes on your insurance record and could hinder future applications.

Don’t be surprised if you end up doing a more traditional application process, including a life insurance medical exam if you’ve had some health issues.

Look beyond the cost

Of course you don’t want to overpay for life insurance, but research more than cost. There are coverage options that can be very valuable long after you buy the policy, such as the option to convert term life to permanent life insurance. Also, look at whether there’s an accelerated death benefit, which gives you access to money from your own death benefit if you become terminally ill.

Be truthful on the application

No matter what type of life insurance you’re applying for, be thorough and truthful on the application.

“Pay attention to each question carefully and be ready to respond with information around specific medical conditions you have. Giving more detailed information will help streamline the process as well as get a more accurate underwriting decision,” says Tavan of Legal & General America.

Intentional misrepresentations can lead to application denials or, worse, denial of a claim after you pass away. Life insurance companies have many ways to verify application information. Technology on the backend allows them to verify data from additional sources.

Have a plan in case of a rejection

If the company rejects you for no-exam life insurance because of your health, don’t give up your life insurance search. If you need life insurance, you likely have other routes.

  • Be prepared to go through a more traditional underwriting process that involves a life insurance medical exam.
  • Work with an experienced life insurance agent who can identify insurers known to be more friendly to your specific health conditions.
  • An experienced life insurance agent can shop around your application anonymously so that you don’t risk another rejection.

Looking for traditional term life insurance? See Forbes Advisor’s ratings of the best term life insurance.

Compare Life Insurance Companies

Compare Policies With 8 Leading Insurers


Methodology

We scored companies based on these measurements:

Price (50% of score): We averaged the no-exam life insurance rates for males and females in excellent health at ages 30, 40 and 50 for $500,000 and $1 million and a term length of 20 years.

Maximum face amount for lowest eligible age (10% of score): Companies with higher no-exam life insurance coverage amounts for the lowest age earned more points. Note that maximum no-exam coverage can sometimes become lower if you apply at a higher age.

Age eligible for best length/amount (10% of score): Companies offering no-exam life insurance to folks over age 50 earned extra points.

Accelerated death benefit available (10% of score): This important feature lets you access part of your own death benefit in the event you develop a terminal illness

Option to convert to a permanent life insurance policy (10% of score): This is a good option to have in place if you decide you want a longer policy, especially if your health has declined and you don’t want to shop for new life insurance.

Guaranteed renewals (5% of score): This option lets you extend the coverage after your initial level term period has expired, such as at the end of 10, 20 or 30 years.

Renewal rates can be significantly higher, but renewing can provide extended coverage to someone who may no longer qualify for a new life insurance policy because of health.

Median time from application to approval (5% of score): We gave more points to companies with lower no-exam life insurance approval times.

The timeline for approval could be within seconds or a month, depending on the company and possibly even your health.

Sources: Bestow, Ethos, Fabric, Haven Life, Jenny Life, Ladder, Policygenius and Forbes Advisor research.

Looking For Life Insurance?

Compare Policies With Leading Life Insurance Companies

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Best No-Exam Life Insurance FAQ

How long does a no-exam life insurance policy last?

Many no-exam life insurance policies are term life insurance policies that lock in your rate for the duration of the specified term. For example, if you have a 20-year no-exam term life insurance policy, your rate does not change for 20 years. You can usually renew the policy for a higher premium at the end of the initial term.

 

Other no-exam life insurance policies are whole life insurance policies and remain in force throughout the lifetime of the insured.

Can you borrow money from a no-exam life insurance policy?

You cannot borrow money from a no-exam term life insurance policy. These policies do not accumulate cash value.

 

Some guaranteed issue policies build cash value, which you can access through a withdrawal or loan.

How much does no-exam life insurance cost?

We analyzed no-exam life insurance costs for males and females ages 30, 40 and 50 with exceptional health and for 20-year no-exam life insurance with coverage amounts of $500,000 or $1 million. The average rates were:

 

  • $544 a year for $500,000 of coverage
  • $937 a year for $ million in coverage

Costs for no-exam life insurance vary depending on a variety of pricing factors, including your age, gender, health and lifestyle. Cost also depends on the type of underwriting used, such as accelerated underwriting vs. guaranteed issue.

Why are coverage amounts often limited for no-exam life insurance?

Because life insurance companies lack some details about your health without a medical exam, their risk is higher when selling a no-exam policy. No-exam life insurance coverage amounts are often limited in order to reduce risk for the life insurer.

Is a no-exam option only available for term life insurance?

Guaranteed issue life insurance is a type of whole life insurance that sometimes is offered with no medical exam required. However, this type of policy is limited by low coverage amounts and is usually intended for specific coverage needs like funeral expenses.


Next Up in Life Insurance


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