Traditionally, obtaining new life insurance coverage required a full medical exam, bloodwork, urine samples, height, weight, and a review of your medical records. For many people, this was a barrier. Today, a wide range of new no-medical-exam coverage options are available that significantly simplify the process.
The Two Main Types of No-Exam Coverage
No-exam life insurance generally falls into two categories: simplified issue and guaranteed issue.
- ✓Simplified issue: Requires answers to health questions but no physical exam. The carrier uses your answers to determine eligibility and pricing.
- ✓Guaranteed issue: No health questions and no exam required. Acceptance is guaranteed within the eligible age range. Coverage amounts are typically smaller.
What Types of Policies Are Available Without an Exam?
- ✓Final expense / burial insurance: Widely available with simplified or guaranteed underwriting
- ✓Term life insurance: Many carriers now offer simplified or accelerated underwriting term options
- ✓Whole life insurance: Available through several carriers with simplified issue underwriting
- ✓Indexed universal life: Some no-exam options available, typically for smaller coverage amounts
Compare new no-exam life insurance coverage options with a licensed independent agent, at no cost.
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Plans vary based on age, health, and location. Independent service · New coverage only.
Trade-offs to Understand
No-exam policies are not without trade-offs. Because the carrier has less information about your health, they typically assume more risk, and that risk is reflected in the pricing.
- ✓Premiums may be higher than fully underwritten policies for healthy applicants
- ✓Coverage amounts are often limited compared to fully underwritten options
- ✓Guaranteed issue policies often include graded death benefit periods (first 1 to 2 years)
- ✓Some simplified issue policies still have exclusions based on health questions
Who Should Consider No-Exam Coverage?
No-exam coverage may be a strong option to explore for individuals who want to obtain new coverage quickly, those who are uncomfortable with or unable to complete a medical exam, and those with health conditions who may be declined for fully underwritten policies.
A licensed independent agent can compare available new no-exam coverage options from multiple carriers and explain what to expect from the application process. The comparison is free.