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TOP 20 BEST NO MEDICAL EXAM TERM LIFE INSURANCE COMPANIES IN 2017

Best no physical exam life insurance companies and policies
Below we have reviewed 20+ different companies offering life insurance policies that do not require a medical examination. Each review includes company specific details on:

  • Product and policy information
  • Our advice
  • Pros and Cons
  • Underwriting and approval process
  • Conversion options for permanent policies
  • Riders and policy customization options
  • Sample rates
  • Company financial information
  • Company contact information and background

Companies and policies may be sorted and filtered based on your own needs and requirements. You may also filter to see Simple Life Insure’s favorite no exam companies.

We are NOT compensated in any way for selecting these companies. They are currently the carriers that we are placing the highest percentage of our clients with as they are strong in multiple areas.

Click buttons below to filter based on your needs

I want no exam life insurance companies that have:


  1. Low premiums
  2. Fast approval
  3. Lenient underwriting
  4. Good conversion options
  5. Good riders and policy customizations

I want coverage in the amount of:


  1. Under $100,000
  2. $101,000 to $400,000
  3. $401,000+

Show only Simple Life Insure's favorite no exam companies:


  1. Yes
  2. No

American National Insurance Company (ANICO)

Low premiums Lenient underwriting Good conversion options Good riders and policy customizations Under $100,000 $101,000 to $400,000 Simple Life Insure's Favorite

Product Name: Signature Term ExpressAmerican National insurance company logo
Product Type: Term insurance
Term Length (years): 10, 15, 20, 30, annually renewable term
Coverage Amounts: $50,000 to $250,000
Issue Ages: 18 to 65

LightbulbOur Advice: American National is definitely a company to consider for a non-med policy. Strong financial backing with over 100 years of existence. Lots of options to customize your plan. Competitive rates for the Standard health class. Good conversion options to permanent policies.

Pros: 

  • Cheap rates for many age brackets
  • Very good rider options
  • Fast approval process for those in good health
  • Lenient underwriting for certain health issues

Cons:

  • Preferred rates classes not available even if in excellent health.
  • If doctors records are requested, underwriting process will be longer than other non-med carriers
  • Low maximum death benefit

Underwriting and Approval Process

  • Electronic application submission available

Underwriting will ALWAYS look at:

  • MVR - Motor vehicle report (driving record)
  • RX - Prescription database check (what drugs you have taken)
  • MIB - Medical insurance bureau (previous life insurance denials/approvals)

Underwriting MAY look at:

  • Doctor's records -This will depend on health and age of the applicant
  • Telephone interview - Dependent on health issues that may require more information

yellow wall clock, several minutes before 12Fastest Decision: 48 hours

Slowest Decision: Up to 30 days if medical records are requested


Conversion to Permanent Insurance

Conversion options (included at NO cost):

Convert to a permanent policy anytime during policy term up to a maximum age of 65. If your policy is purchased between the age of 60 and 65, a minimum of 5 years conversion period will still be granted.

Future converted permanent policies will NOT require additional underwriting. Your new premium will be based on previous health class and current age at the time of conversion. You are still eligible for this conversion EVEN if you have become very sick or experienced a serious decline in health.

A conversion credit equal to one year’s premium payments will be put towards the conversion if done within the first 5 years of policy being issued.


Riders to Customize Your Policy

Available riders included at NO additional cost:

In any of the below events, the insured may take benefits in advance, known as accelerated benefits or "living benefits". They are payouts before a death occurs.

  1. Terminal illness – life expectancy of fewer than 24 months, depending on state limitations
  2. Chronic illness – insured unable to perform 2 out of 6 activities of daily living
  3. Critical illness – insured diagnosed with any of a list of 16 critical illnesses

The death benefit will be reduced by the amount of living benefits received.

Available riders WITH additional cost:

Children’s Term Rider

Covers each child in the household until expiration when they reach age 25. Coverage may then be converted to a permanent policy without evidence of insurability.

Disability Waiver of Premium

If you become disabled, the insurance company will pay your premiums for as long as the disability lasts. Your policy remains in force.


Sample No Exam Life Insurance Quotes-American National

40-year-old male at Standard health class - pricing per month

Coverage Amount10 year20 Year30 year
$50,000$14.21$17.02$20.61
$100,000$14.26$19.35$28.94
$200,000$23.33$33.52$52.70

35-year-old female at Standard health class - pricing per month

Coverage Amount10 year20 Year30 year
$50,000$10.37$12.74$16.03
$100,000$10.80$14.43$18.14
$200,000$16.42$23.67$31.10

Company Info

A.M. Best rating: A-American National insurance company logo

S&P Rating: A

BBB: A+

Address:

One Moody Plaza
Galveston, TX 77550-7947

Phone: (800) 899-6806

About:

"American National Insurance Company was founded in 1905 by William L. Moody, Jr. and is headquartered in Galveston, Texas. The Company has multiple subsidiaries, and has operations in Springfield, Missouri; Glenmont, New York; League City, Texas; and San Antonio, Texas.

Throughout the company’s history, the Moody family members have maintained an active role in the direction of the company. Strong management and prudent reinvestment in the company’s growth have made the company a major provider of insurance and annuities.

American National offers a broad variety of life insurance, retirement annuities, accident and health insurance, pension plan products and services, credit insurance, and property/casualty insurance for personal lines, agribusiness, and targeted commercial exposures. Products are distributed through career agents, independent marketing organizations and multiple line exclusive agents as well as direct distribution channels.

American National’s mission is to be the company of choice for insurance and other financial products and services while maintaining superior financial strength."


Assurity Life Insurance Company

Fast approval Good conversion options Good riders and policy customizations Under $100,000 $101,000 to $400,000

Product Name: LifeScape NonMed Term 350Assurity life insurance company logo
Product Type: Term insurance
Term Length (years): 10, 15, 20, 30
Coverage Amounts: $50,000 to $350,000
Issue Ages: 18 to 65

LightbulbOur Advice: A major player in the non-med arena, Assurity has a long and strong financial standing. A well-rounded product that includes a little of everything with a wide variety of customization options. Rates can be higher for certain health classes but very competitive in others.

Pros: 

  • Typically fast underwriting decisions
  • Good rates for smokers
  • Preferred health class available for people in excellent health

Cons:

  • Rates more expensive than other no exam policies

Underwriting and Approval Process

  • Electronic application submission available

Underwriting will ALWAYS look at:

  • MVR - Motor vehicle report
  • RX - Prescription database check
  • MIB - Medical insurance bureau (previous life insurance denials/approvals)

Underwriting MAY look at:

  • Doctor's records -This will depend on health and age of the applicant.
  • Telephone interview - If discrepancies turn up between the application and MVR/RX/MIB checks, a telephone interview may be requested. Certain medical issues may also require a phone interview but the majority of applications will be processed fully automated.

Over the age of 55 cannot be approved for this policy if you have not seen a doctor in the last 5 years.

yellow wall clock, several minutes before 12Fastest Decision: 48 hours

Slowest Decision: Up to 21 days if phone interview and/or medical records are required.


Conversion to Permanent Insurance

Conversion options (included at NO cost):

Convert to a permanent policy with Assurity at the EARLIER of the following timelines:

  • 1 year prior to the end of a 10 year term
  • 2 years prior to the end of a 15, 20, or 30-year term
  • Policy anniversary after insured 65th birthday

If the same coverage amount is maintained at conversion time, a credit will be applied equal to the premium paid during the first policy year. Conversion rate will be pro-rated for partial conversions.

Future conversion is made without health questions and regardless of current health status. Rates will be based upon current age at the time of conversion.


Riders to Customize Your Policy

Available riders included at NO additional cost:

Accelerated Benefits Rider (Living Benefit)

Option to accelerate payment of life insurance proceeds for an insured that has been diagnosed as terminally ill or confined to a nursing home permanently. Eligible proceeds are based on a percentage of policy face amount with a maximum of $250,000.

The death benefit will be reduced by the amount of living benefits received.

Available riders WITH additional cost:

  • Other Insured Term Rider - Term life coverage on another person with an insurable interest, often a spouse.
  • Disability Waiver of Premium Rider – If you become disabled, your premiums are paid.
  • Monthly Disability Income Rider – Pays a monthly benefit if you become totally
    disabled due to a covered sickness or accident. Also available on the other insured.
  • Accident-Only Disability Income Rider – Pays a monthly benefit if you become totally
    disabled due to an accident. Also available on the other insured.
  • Critical Illness Rider – Pays a lump-sum benefit if the insured is diagnosed with a
    specified critical illness.

Assurity's Critical Illness Rider does NOT decrease the death benefit like many companies. 

  • Children’s Term Insurance Rider – Term coverage for all children in the family up to age 25. Option to convert to a permanent policy with guaranteed insurability regardless of health up to age 25.
  • Return of Premium Rider - Will refund some or all of the premiums paid at the end of the term. Only applicable to 20 and 30-year term plans.

Sample No Exam Life Insurance Rates-Assurity

40-year-old male at Standard Plus health class – pricing per month

Coverage Amount10 year15 year20 Year30 year
$100,000$27.93$32.89$39.41$51.76
$200,000$49.76$59.68$72.73$97.44
$300,000$71.60$86.48$106.05$143.11

35-year-old female at Standard Plus health class – pricing per month

Coverage Amount10 year15 year20 Year30 year
$100,000$15.40$17.31$20.10$26.53
$200,000$24.71$28.54$34.10$46.98
$300,000$34.02$39.76$48.11$67.43

Company Info

A.M. Best rating: A- Assurity life insurance company logo

S&P Rating: Not rated

BBB: A+

Address:

PO Box 82533
Lincoln, NE 68501-2533

Phone: (402) 476-6500

About:

"Assurity has long lived our mission of helping people through difficult times, with a heritage dating back to 1890. We provide life insurance, disability and critical illness insurance, and voluntary employment benefits through independent brokers nationwide. Our unrelenting commitment to financial strength and stability has consistently earned us excellent industry ratings."


Fidelity Life Association

Fast approval

Product Name: Rapid Decision ExpressFidelity life insurance company logo
Product Type: Term
Term Length (years): 10, 15, 20, 30
Coverage Amounts: $25,000 to $250,000
Issue Ages: 18-65

LightbulbOur Advice: Fidelity is a well-known name and big player in the no exam game. An "A" rated company who excels in extremely fast underwriting decisions. Pricing is typically a little higher than comparable policies with other companies. Worth taking a look but we don't place a high percentage of clients with Fidelity.

Pros: 

  • Very fast approvals, most done in 24 hours
  • Guaranteed renewable on a yearly basis after initial term up through age 95

Cons:

  • Priced higher some other non-med companies
  • Underwriting can be strict on certain issues and conditions
  • Highest health class available is Standard 

Underwriting and Approval Process

  • Electronic application submission available

Underwriting will ALWAYS look at:

  • MVR - Motor vehicle report (driving record)
  • RX - Prescription database check (history of drugs taken)
  • MIB - Medical insurance bureau (previous life insurance denials/approvals)

Underwriting MAY look at:

  • Doctor's records - very rarely
  • Telephone interview - very rarely

yellow wall clock, several minutes before 12Fastest Decision24 hours

Slowest Decision: 72 hours (longer in rare cases where medical records are required)


Conversion to Permanent Insurance

Conversion options (included at NO cost):

Non-med term policies can be converted to a permanent plan anytime during first 10 years of the policy or up to age 65, whichever comes first. Conversion to a permanent plan can be done regardless of health and without the need for any additional underwriting or medical exam.


Riders to Customize Your Policy

Available riders included at NO additional cost:

Accelerated Death Benefit 

Allows for living benefits to be taken up to 50% of the overall death benefit. Insured must be diagnosed as having a life expectancy under 12 months. This rider cannot be used until year 3 of the policy being in force.

The death benefit will be reduced by the amount of living benefits received.

Available riders WITH additional cost:

Dependent Child Rider

Up to $25,000 in coverage for all children in the household. Eligible children are up to 18 years of age. Child rider expires once the child reaches age 23 or the primary insured reaches age 65, whichever comes first.

 Accidental Death Benefit 

This rider pays an additional benefit in the event of accidental death. The rider is available at issue, ages 20 through 65. The benefit amount is equal to the face amount of the policy. Rider expires at age 80. Accidental death benefits $25,000 to $250,000 are available.


Sample No Medical Exam Life Insurance Quotes - Fidelity

40-year-old male at Standard health class - pricing per month

Coverage Amount10 year20 Year30 year
$50,000$21.97$22.79$36.89
$100,000$26.27$37.50$65.95
$250,000$54.59$82.65$153.77

35-year-old female at Standard health class - pricing per month

Coverage Amount10 year20 Year30 year
$50,000$21.71$22.19$24.10
$100,000$20.10$24.53$34.28
$250,000$39.15$50.24$74.60

Company Info

A.M. Best rating: A- (Excellent)Fidelity life insurance company logo

S&P Rating: A+

BBB: A

Address:

8700 W. Bryn Mawr Ave, Ste. 900S
Chicago, Illinois 60631

Phone: (630) 522-0392

About:

"Fidelity Life is one of the few companies in the industry that focuses on assisting everyday Middle Americans experience the peace-of-mind that comes with life insurance ownership. In fact, we were founded in 1896 for that express purpose.

At Fidelity Life, we understand the daily competing economic pressures experienced by many American families. As a result, using patented technology and innovative products, we concentrate all of our energy on offering policies that are valuable and affordable. The approach allows our customers to start fulfilling their basic needs for financial protection in order to:

Maintain a family’s standard of living
Pay ongoing family debts
Fund children’s educations
Pay for final expenses
Leave the family a financial legacy"


Foresters

Good conversion options Good riders and policy customizations Under $100,000 $101,000 to $400,000 Simple Life Insure's Favorite

Product Name: Your TermForesters insurance company logo
Product Type: Term insurance
Term Length (years): 10,15,20, 25, 30
Coverage Amounts: $50,000 to $400,000. Above age 55, maximum is $150,000
Issue Ages: 18 to 80

LightbulbOur Advice: Foresters really improved their non-med offering in 2017. It is now a major player and good fit for many people. The rates are very competitive and they automatically included some very nice living benefits.

Pros: 

  • Excellent living benefits and rider options
  • Fast approval with no doctors records requested, ever.
  • Offers one of the only 25-year term options for no exam policies

Cons:

  • Standard health class is the highest available

Underwriting and Approval Process

  • Electronic application submission available

Underwriting will ALWAYS look at:

  • MVR - Motor vehicle report (your driving record)
  • RX - Prescription database check (what drugs you have been prescribed)
  • MIB - Medical insurance bureau (previous life insurance denials/approvals)

Underwriting MAY look at:

Nothing else. You are either accepted or not and the decision is made fast.

yellow wall clock, several minutes before 12Fastest Decision: 15 minutes

Slowest Decision: 15 minutes


Conversion to Permanent Insurance

Conversion options (included at NO cost):

The policy owner may convert to a permanent life insurance policy without evidence of insurability at conversion time.

The conversion period is the earlier of:

  • End of initial term minus 5 years
  • Policy anniversary in year after insured reaches age 65

Riders to Customize Your Policy

Available riders included at NO additional cost:

Common Carrier Accidental Death Rider:

Provides for additional death benefit up to two times the base coverage with a maximum of $300,000. This rider applies in the case of a death that occurs within 180 days  of accidental injury while a fare paying passenger on a train, plane, or bus.

Family Health Benefit Rider:

Pays living benefits to the insured and their immediate family to cover health expenses resulting from a natural disaster such as tornadoes, hurricanes, and earthquakes.

Accelerated Death Benefit Rider:

A portion of the death benefit can be taken early while the insured is still living. Qualifying conditions are classified as certain chronic, terminal, and critical illnesses.

The death benefit will be reduced by the amount of living benefits received.

Available riders WITH additional cost:

Accidental Death Benefit Rider:

Additional death benefit paid in the event of death due to accidental bodily injury.

Children's Term Rider:

Between $10,000 and $25,000 of level term coverage for all eligible children in the household. Ability to convert to a new permanent policy up to child's 25th birthday without proving evidence of insurability.

Disability Income Rider:

Available for accident only or accident and illness. Will pay a monthly income when insured becomes disabled. Insured must have been actively employed when the disability began. Income payment may continue up to 2 years.

Waiver of Premium Rider:

Pays your life insurance premiums in the event of a disability that has made the insured unable to work.


Sample No Exam Term Life Insurance Quotes - Foresters

40-year-old male at Standard health class - pricing per month

Coverage Amount20 year25 year30 year
$50,000$17.37$21.31$24.24
$100,000$28.61$36.49$42.35
$250,000$62.34$82.03$96.69

35-year-old female at Standard health class - pricing per month

Coverage Amount20 year25 year30 year
$50,000$20.96$23.28$26.12
$100,000$35.79$40.43$46.11
$250,000$80.28$91.88$106.09

Company Info

A.M. Best rating: AForesters insurance company logo

S&P Rating: N/A

BBB: A+

Address:

PO Box 179
Buffalo, NY 14201

Phone: 800-828-1540

About:

"Foresters Financial is an international financial services provider with a unique history that began in 1874 when we set out to provide access to life insurance for average, working families. More than 140 years later, we provide savings, life insurance, investment and retirement solutions that help families achieve long-term financial health and well-being.

Throughout our history, we have been at the forefront of several milestones in the North American life insurance landscape, often pioneering trends that would later become commonplace. One of our first leaders, Dr. Oronhyatekha, was one of Canada’s first Native doctors to include western medicine in his practice. A man ahead of his time, Dr. Oronhyatekha championed the rights of women, children, and minorities. He also insisted on admitting women as full members of the organization and providing benefits to the orphans of Foresters members.

Today, more than three million customers and members1 in the United States, Canada and the United Kingdom benefit from the foundation of experience, expertise and reliability we have built over two centuries. During this time, we have remained steadfast in our commitment to help improve family well-being and each year, we invest millions to support causes that enrich the lives of families and communities."


MetLife

Fast approval Lenient underwriting

Product Name: MetLife Simplified Issue Term InsuranceMetLife insurance company logo
Product Type: Term insurance
Term Length (years): Annually renewable up to age 90
Coverage Amounts: $10,000 to $100,000
Issue Ages: 18 to 70

LightbulbOur Advice: Despite being one of the big names in the life insurance industry, MetLife's no medical exam policy leaves much to be desired and you probably can do better. A few nice and unique benefits for certain situations but overall this policy doesn't stand up well to competitors.

Pros: 

  • Very fast approval, usually same day
  • Available up to age 70 which is higher than most non-med products
  • Fast and simple application process with minimal questions

Cons:

  • Low maximum coverage amount
  • Priced higher than comparable policies with other carriers
  • Lack of customization options
  • Rates rise every 5 years, cannot lock them in for longer

Underwriting and Approval Process

  • Electronic application submission available

Underwriting will ALWAYS look at:

  • MIB - Medical insurance bureau (previous life insurance denials/approvals)

The application will consist of 3 questions:

  1. Are you disabled or confined to a nursing home?
  2. Have you ever tested positive for HIV?
  3. In the past 2 years, have you ever been treated for? (a number of conditions)

Answering "Yes" to any of the above questions will be an automatic decline.

yellow wall clock, several minutes before 12Fastest Decision: Same day

Slowest Decision: 24 hours


Conversion to Permanent Insurance

No conversion options are available with this policy


Riders to Customize Your Policy

Available riders included at NO additional cost:

No riders are included automatically with this policy.

Available riders WITH additional cost:

Accidental Death Benefit

Will pay two times the face amount of coverage in the event of an accidental death.


Sample No Medical Exam Life Insurance Rates - MetLife

MetLife offers $1 for first month and then is on a set schedule to rise every 5 years. It is NOT like many of the other level term no exam products where your rate is locked in for 10/20/30 years.

MetLife no medical exam rate table for men and women
Source: Metlife.com

Company Info

A.M. Best rating: A+MetLife insurance company logo

S&P Rating: AA-

BBB: B+

Address:

1095 Ave. of the Americas
New York City, NY 10036

Phone: (212) 578-2211

About:

"For 140 years, MetLife has been insuring the lives of the people who depend on us.  Our success is based on our long history of social responsibility, strong leadership, sound investments, and innovative products and services."


Mutual of Omaha

Good conversion options Good riders and policy customizations Under $100,000 $101,000 to $400,000

Product Name: Term Life ExpressMutual of Omaha insurance company logo
Product Type: Term insurance
Term Length (years): 15, 20, 30
Coverage Amounts: $25,000 to $400,000
Issue Ages: 18 to 65

LightbulbOur Advice: Very stable and highly rated insurance carrier. Mutual of Omaha's non-med policy has some nice benefits including an optional renewability provision that goes all the way through age 100. Included riders are among the best for no medical exam policies. Premiums are middle of the road vs other carriers.

Pros: 

  • $400,000 max coverage is higher than average
  • Renewability option without evidence of insurability up to age 100
  • Excellent rider options for policy customization

Cons:

  • Approval time is longer than several other carriers
  • Highest health class available is Standard even if in excellent health
  • Underwriting is on the strict side vs other non-med carriers

Underwriting and Approval Process

  • Electronic application submission available

Underwriting will ALWAYS look at:

  • MVR - Motor vehicle report (your driving record)
  • RX - Prescription database check (history of any drugs you have been prescribed)
  • MIB - Medical insurance bureau (previous life insurance denials/approvals)

Underwriting MAY look at:

  • Doctor's records - Maybe ordered at the discretion of the underwriter

yellow wall clock, several minutes before 12Fastest Decision1 week

Slowest Decision: 3 weeks


Conversion to Permanent Insurance

Conversion options (included at NO cost):

Option to convert to a permanent policy regardless of health without the need to prove insurability.

Conversion may be done after policy year 2 but must be before the earlier of:

  • End of the initial level term period
  • Policy anniversary after the insured has reached 70 years of age

Riders to Customize Your Policy

Available riders included at NO additional cost:

Accelerated Death Benefit Rider

Provides for a lump-sum benefit payout with proof that the insured has a life expectancy of 24 months or less. The benefit amount is equal to 92 percent of the death benefit. Once the benefit is paid, the policy is terminated.

Waiver of Premium for Unemployment Protection

If the insured becomes unemployed, the premiums will be waived for 6 months. The policy must be in force for 24 months before this can be used. Proof of unemployment is required and waiver may only be used once.

Residential Damage Rider

If the primary residence of the insured experiences damage of $25,000 or more, the premium for the policy is waived for a 6 month period. Policy remains fully in force.

Common Carrier Death Benefit Provision

If the insured dies in an accident while a passenger on a train, airplane, or bus, the beneficiary will receive an additional benefit payment. The extra payout will be double the death benefit of the policy up to a maximum of $250,000.

Available riders WITH additional cost:

Disability Income Rider

If the insured becomes disabled, a monthly disability income payment will be made up to a maximum of $3,000 per month.


Sample No Medical Exam Term Life Insurance Quotes - Mutual of Omaha

40-year-old male at Standard health class - pricing per month

Coverage Amount10 year20 Year30 year
$100,000$28.57$34.89$45.30
$200,000$51.80$64.44$85.26
$300,000$75.03$93.98$125.22

35-year-old female at Standard health class - pricing per month

Coverage Amount10 year20 Year30 year
$100,000$18.51$23.14$29.73
$200,000$31.68$40.94$54.11
$300,000$44.86$58.74$78.50

Company Info

A.M. Best rating: A+Mutual of Omaha insurance company logo

S&P Rating: AA-

BBB: A+

Address:

Mutual of Omaha Plaza
Omaha, Nebraska 68175

Phone: (800) 228-7104

About:

"Our Mission: We help our customers protect what they care about and achieve their financial goals.

Our Vision: For every customer...a financial future imagined, planned and secured.

Our Values: Mutual of Omaha’s values are the attributes, behaviors, and beliefs that connect Mutual associates with a common vision."


National Western Life Insurance Company

Fast approval Good riders and policy customizations Under $100,000 $101,000 to $400,000

Product Name: NWL Rapid IssueNational Western Life Insurance Company logo
Product Type: Term
Term Length (years): 10, 15, 20, 30
Coverage Amounts: $25,000 to $250,000
Issue Ages: 20 to 65

LightbulbOur Advice: National Western has a well rounded no medical exam product with very fast approvals.  Pricing overall is higher than average in the marketplace. The ability to annually renew without providing proof of insurability up to age 95 is higher than many carriers.

 

Pros: 

  • One of the only carriers who will not request medical records no matter what
  • Annually renewable up to age 95
  • Good rider options to customize policy

Cons:

  • $250,000 max coverage is on the low end
  • Conversion option costs extra

Underwriting and Approval Process

  • Electronic application submission available

Underwriting will ALWAYS look at:

  • MVR - Motor vehicle report (your driving history)
  • RX - Prescription database check (record of the drugs you've taken from pharmacies)
  • MIB - Medical insurance bureau (previous life insurance denials/approvals)

One of the few companies that will never request medical records

yellow wall clock, several minutes before 12Fastest Decision: Same day

Slowest Decision: A few days


Conversion to Permanent Insurance

Conversion options (included WITH additional cost):

Convert to any permanent policy before the end of level term period or age 65, whichever comes first.

During the first 5 policy years, a credit will be applied at conversion time towards the new policy. No evidence of insurability is required at conversion time unless additional riders and benefits are being added. Premiums will increase if you elect to have this provision included in the policy, whether or not you actually end up exercising it.


Riders to Customize Your Policy

Available riders included at NO additional cost:

Accelerated Death Benefit for Critical Illness 

If diagnosed with a terminal illness and expected to live less than 24 months, this provision allows for a portion of the death benefit to be taken while the insured is still living.

Accelerated Death Benefit for Chronic Illness

This provision provides accelerated living benefits if the insured is diagnosed with a chronic illness. A chronic illness is a condition resulting in being permanently unable to perform at least 2 of the 6 activities of daily living without the assistance of another.

Accelerated Death Benefit for Terminal Illness

The insured can take accelerated benefits if diagnosed with a critical illness. Critical illness includes a condition resulting from heart attack, stroke, life-threatening cancer, kidney failure, major organ transplant, ALS (Lou Gehrig’s disease), paralysis, major multi-system trauma, AIDS, severe central nervous system disease, loss of limbs, Alzheimer’s, Dementia, or heart surgery.

For all 3 of the living benefits riders, the maximum accelerated benefit amount is no more than 90% of the face amount.

The death benefit will be reduced by the amount of living benefits received.

Available riders WITH additional cost:

Waiver of Premium Disability Benefit Rider

Optional rider that pays monthly premiums if the insured becomes disabled.

Accidental Death Benefit Rider

Optional rider that pays an additional death benefit should the insured die from an accidental death. The maximum death benefit paid to the beneficiary is the lesser of $500,000 or 2 times the face amount.

Children’s Term Life Insurance Rider

Available for ages 20-55 at the time of policy issue. Provides $5,000 to $20,000 of level term insurance for all children in the household between 15 days and 18 years of age. Coverage for the children remains in effect to age 25 of the child or 65 of the insured.

The coverage on the child may be converted to a new permanent policy before the age of 25 of the child. This does NOT require evidence of insurability for the child.

Other Insured Term Rider

Optional benefit rider that provides term coverage in the event of the death of another named insured. This is often a spouse but does not have to be. Must be a minimum of $100,000 in coverage but cannot exceed the face amount of the base policy.


Sample No Exam Life Insurance Quotes - National Western

42-year-old male at Standard health class - pricing per month

Coverage Amount10 year20 Year30 year
$50,000$21.15$26.37$34.02
$100,000$26.55$36.99$52.29
$200,000$43.20$64.08$94.68

36-year-old female at Standard health class - pricing per month

Coverage Amount10 year20 Year30 year
$50,000$16.92$19.80$22.86
$100,000$18.09$23.85$29.97
$200,000$26.28$37.80$50.04

Company Info

A.M. Best rating: ANational Western Life Insurance Company logo

S&P Rating: A

BBB: A+

Address:

850 East Anderson Lane
Austin, TX 78752-1602

Phone: (512) 836-1010

About:

"National Western Life Insurance Company is chartered by the State of Colorado and a wholly owned subsidiary of National Western Life Group, Inc. National Western’s domestic operations extend to forty-nine states, the District of Columbia and four U.S. territories. The Company is also licensed in Haiti and accepts applications at its Home Office in Austin, Texas from – and issues policies to – non-U.S. residents. National Western operations extend globally to domestic and foreign markets. Our mission is to provide high-quality insurance products on a global basis to meet the financial security needs of well-defined market segments. We provide professional and friendly service to our policyholders and agents and are responsive to the needs of our employees, shareholders, and the community."


Transamerica

Lenient underwriting Good conversion options Good riders and policy customizations Under $100,000 $101,000 to $400,000

Product Name: Trendsetter Living Benefits (LB)Transamerica insurance company logo
Product Type: Term
Term Length (years): 10, 15, 20, 25, 30
Coverage Amounts: $25,000 to $249,999
Issue Ages: 18 to 60

LightbulbOur Advice: A very well known company that consistently has a low amount of consumer complaints. Transamerica's non-med policy is middle of the pack for cost, but does include some nice living benefits in the base policy. Some leniency for certain health issues. Worth exploring as an option for many people. If you are in excellent health, you can likely do better.

Pros: 

  • Excellent riders and customization options
  • Lenient underwriting for specific moderate health issues

Cons:

  • Highest health rate class available is Standard.
  • Underwriting time is on the long side
  • Maximum coverage of $250,000 is a lower than many other non-med carriers

Underwriting and Approval Process

  • Electronic application submission available

Underwriting will ALWAYS look at:

  • RX - Prescription database check (Pharmacy report showing which drugs you've taken)
  • MVR - Motor vehicle report (Driving record)
  • MIB - Medical insurance bureau (previous life insurance denials/approvals)

Underwriting MAY look at:

  • Doctor's records -Transamerica will review these in most cases
  • Telephone interview - At the discretion of the underwriter

yellow wall clock, several minutes before 12Fastest Decision: 1 week

Slowest Decision: 30 days


Conversion to Permanent Insurance

Conversion options (included at NO cost):

Policy can be converted to permanent insurance before the EARLIER of:

  • End of initial level term period
  • 70th birthday of the insured

Proof of insurability is not required so this can be done regardless of health issues that may have developed.


Riders to Customize Your Policy

Available riders included at NO additional cost:

Includes 3 living benefits which come standard with all Trendsetter LB policies.

Chronic Illness Accelerated Death Benefits

If the insured is determined to be unable to perform 2 of the 6 daily living activities for a period of 90 or more consecutive days, they may take accelerated benefits.

Maximum living benefits are 24% of the policy face amount each year. Overall maximum is the lesser of 90% of face amount or $500,000.

Critical Illness Accelerated Death Benefits

Enables the policyholder to accelerate death benefits if it is determined they have suffered a critical health condition.

The maximum living benefit available to be taken with this rider is the LESSER of 90% of the face amount or $500,000.

Chart for living benefits on TransAmerica Trendsetter LB insurance policy
Source: Transamerica.com
 

Terminal Illness Accelerated Death Benefits

If the insured is diagnosed with a terminal illness and given less than 12 months to live, accelerated benefits may be taken as a lump sum in advance of death.

The maximum benefit amount that can be accelerated is the LESSER of 100% of the face amount of the policy or $500,000.

The death benefit will be reduced by the amount of living benefits received.

Income Protection Option (IPO)

Not technically a rider but rather a settlement option. The Income Protection Option provides choices in how you structure the death benefit. The payout can be set up as a guaranteed monthly income stream with optional initial and final lump sum payouts. Changes can be made to the structure up until the death of the insured.

Available riders WITH additional cost:

  • Waiver of Premium (WP) - Pays your premium in the event of a qualifying total disability.
  • Children’s Insurance (CIR) - Adds a small term insurance policy on to a child in the household. Can be converted to a permanent policy later without proof of insurability. The coverage for the initial term expires on the child's 25th birthday.
  • Accidental Indemnity (AI) - The policy beneficiary will receive an additional death benefit if the insured dies as a result of an accidental bodily injury.
  • Monthly Disability Income (MDI) - Provides a monthly income for the insured for up to 2 years when they become totally disabled with a qualifying injury or illness.

Sample No Exam Life Insurance Premiums - TransAmerica

43-year-old male at Standard health class - pricing per month

Coverage Amount10 year20 Year30 year
$50,000$17.12$21.85$28.86
$150,000$30.20$44.13$66.19
$250,000$48.59$71.82$107.89

39-year-old female at Standard health class - pricing per month

Coverage Amount10 year20 Year30 year
$50,000$12.09$16.26$21.04
$150,000$23.10$30.97$38.45
$250,000$36.77$49.88$62.67

Company Info

A.M. Best rating: A+Transamerica insurance company logo

S&P Rating: AA-

BBB: A+

Address:

4333 Edgewood Rd. NE
Cedar Rapids, IA 52499

Phone: (319) 355-8511

About:

"The companies of Transamerica offer a wide array of innovative financial services and products with a common purpose. Regardless of the distribution method, our mission is to help individuals, families, and businesses build, protect, and preserve their hard-earned assets. With more than a century of experience, we have built our reputation on solid management, sound decisions, and consumer confidence.

The Transamerica companies are members of the AEGON Group, a multinational insurance organization headquartered in The Hague, The Netherlands. AEGON is one of the world's leading life insurance and financial services organizations."


Sagicor

Fast approval Good conversion options Under $100,000 $101,000 to $400,000 $401,000+ Simple Life Insure's Favorite

Product Name: Sage TermSagicor no physical exam insurance company logo
Product Type: Term
Term Length (years): 10, 15, 20
Coverage Amounts: $50,000 to $500,000
Issue Ages: 18 to 65

LightbulbOur Advice: Sagicor is a must consider for those seeking a good no medical exam policy. Extremely fast approvals, high coverage limits, and top health classes available. The Sage product has made a mark in the industry and is extremely popular due to price, features, and simplicity of approval process.

Pros: 

  • Fully digital underwriting with most approvals in minutes
  • Health classes up to Preferred available, good for those in excellent health
  • 500K coverage limit is among the highest available for non-med policies

Cons:

  • Underwriting can be a little strict on certain medical conditions or some prescriptions
  • 30-year term length not available

Underwriting and Approval Process

  • Electronic application submission available

Underwriting ALWAYS look at:

  • MVR - Motor vehicle report (your driving history)
  • RX - Prescription database check (Pharmacy report that shows what drugs you have been prescribed)
  • MIB - Medical insurance bureau (previous life insurance denials/approvals)

One of the few carriers that will never look at medical records or do a telephone interview for an e-application. A paper application will require the phone interview.

yellow wall clock, several minutes before 12Fastest Decision60 seconds

Slowest Decision: 3 days


Conversion to Permanent Insurance

Conversion options (included at NO cost):

Option to convert to a permanent policy before the policy anniversary after the insured's 70th birthday. No evidence of insurability is needed at conversion time.


Riders to Customize Your Policy

Available riders included at NO additional cost:

Accelerated Benefit Insurance Rider

Helps to cover the costs of nursing home care or medical expenses. Accelerated benefits can be taken if the insured is diagnosed with a terminal condition or confined to a nursing home facility.

Maximum benefit received is the LESSER of 50% of death benefit or $300,000

The death benefit will be reduced by the amount of living benefits received.

Available riders WITH additional cost:

Children's Term Rider

Optional rider provides term life insurance coverage for any children in the household age 15 days to 19 years old. The children's term coverage remains in force until age 25 or marriage, whichever comes first.

Children's term rider includes the option to convert to a permanent life insurance policy for up to 5 times the original face amount on the child. The conversion to a new policy can be done regardless of the child's health at conversion time.

Accidental Death Benefit Rider

The additional death benefit will be paid to the beneficiaries if the insured dies as a result of an accident. The maximum additional benefit amount is the LESSER of the amount of the base policy or $250,000.

Waiver of Premium Rider

Optional rider that waives your premium payments if the insured becomes totally disabled. Premiums will be covered as long as the total disability continues. If the insured is no longer disabled, premium payments must be resumed to keep the policy active and in force.

The waiver of premium rider is available for new policies ages 16-55. It automatically terminates at age 65.


Sample No Medical Life Insurance Quotes - Sagicor

40-year-old male at Preferred health class - pricing per month

Coverage Amount10 year15 Year20 year
$100,000$13.37$13.54$15.49
$300,000$27.36$27.92$33.56
$500,000$41.39$42.33$51.73

35-year-old female at Preferred health class - pricing per month

Coverage Amount10 year15 Year20 year
$100,000$9.35$9.83$10.81
$300,000$14.25$16.40$18.30
$500,000$19.54$23.14$26.29

Company Info

A.M. Best rating: A-Sagicor no physical exam insurance company logo

S&P Rating: NA

BBB: A+

Address:

4343 N Scottsdale Rd. Ste. 300
Scottsdale, AZ 85251

Phone: (480) 425-5100

About:

"Sagicor Life Insurance Company is a full-service life insurance company with almost 60 years of experience providing quality and value to our policyholders. We offer a wide range of life and annuity products to address the needs of our communities at every stage of life. Our life products include term, whole life, and universal life options. Our annuities range from immediate options to those that address long-term needs.

We operate in 44 states and the District of Columbia and our products are provided through approximately 4,000 independent and career producers. Sagicor is rated "A-" (Excellent) by A.M. Best Company and has total assets of over $930 million. We are currently ranked as one of the top 175 largest life insurance companies in the United States (by total assets). In addition to its financial strength, Sagicor is known for innovative products and systems. We are continually looking for ways to create the future.

Sagicor Life Insurance Company is proud to have joined the Sagicor Financial Corporation family in 2005. Sagicor Financial is one of the oldest insurance groups in the Americas, founded in 1840, it operates in 22 countries. Sagicor Financial has approximately $5.5 billion in assets and has been a leader in its communities for over 170 years."


Principal

Low premiums Fast approval Good conversion options Under $100,000 $101,000 to $400,000 $401,000+ Simple Life Insure's Favorite

Product Name: Principal Life InsurancePrincipal insurance company logo
Product Type: Term, Universal, Permanent
Term Length (years): 10, 15, 20, 30
Coverage Amounts: $50,000 to $1,000,000
Issue Ages: 18 to 60

LightbulbOur Advice: Principal doesn't have a separate no physical exam policy. What they have done is allow for those in excellent health (Preferred and Preferred Plus) to go through their Accelerated Underwriting Program which does not require a medical exam. Those that don't qualify for the top health classes will need to submit to an exam to be approved by the Principal Financial Group.

For those in excellent health, it's certainly worth a look. Principal will give up to $1,000,000 in coverage for their non-medical exam underwriting. This is by FAR more than any other carrier out there.

The premiums are very competitive in many age and coverage bands. Unlike most carriers, Principal does NOT charge extra to account for the additional risk of not taking an exam.

Pros: 

  • Fast underwriting with most decisions in a few days
  • Highest death benefit limit in the industry for policies without a paramedical exam
  • Rates are the same as fully underwritten policies with exams

Cons:

  • Not available unless you are in excellent health

Underwriting and Approval Process

  • Electronic application submission available

Underwriting will ALWAYS look at:

  • MVR - Motor vehicle report (driving record history)
  • RX - Prescription database check (report that shows what drugs you have picked up at pharmacies)
  • MIB - Medical insurance bureau (previous life insurance denials/approvals)
  • Telephone interview

Underwriting MAY look at:

  • Doctor's records -This will depend on the specific health of the applicant.

Principal's 3-Step Underwriting Process

  1. Application questionnaire - A list of qualification questions will determine whether you are eligible for the Accelerated Underwriting Program or not. Answering "Yes" to any of these questions will mean you need to go the traditional underwriting route.
  2. Telephone interview - If you qualified from step 1, you'll proceed to a 15-minute telephone interview with additional questions on your health and lifestyle.
  3. Underwriting review and decision - You will either be approved at Preferred or Preferred Best or be kicked over for additional underwriting which may include a paramedical exam and will likely end up in a health class below Preferred.

yellow wall clock, several minutes before 12Fastest Decision48 hours

Slowest Decision: up to 4 weeks if you do not qualify for the Accelerated Underwriting Program.


Conversion to Permanent Insurance

Conversion options (included at NO cost):

All of Principal's term products may be converted to a variety of permanent policies without having to prove evidence of insurability.

Conversions may be done up to the earlier of:

  • End of initial level premium term
  • Age 70.5

Riders to Customize Your Policy

Available riders included at NO additional cost:

No riders are included automatically with the base policy. This helps keep the premiums down and allows policy owners to add only things they really want, at a cost.

Available riders WITH additional cost:

Children Term Insurance

Eligible household children can be added to a policy at with their own term insurance coverage between $5,000 and $25,000.

Children will have the option to convert this policy to a permanent policy from The Principal Group. No evidence of insurability is necessary at the time of conversion.

Waiver of Premium 

Optional rider which waives the premium for as long as the insured is completely disabled, subject to rider limitations.

Accelerated Benefits

Insured can obtain up to 75% of the death benefit while still living if diagnosed with a terminal illness.

The death benefit will be reduced by the amount of living benefits received.


Sample No Medical Exam Life Insurance Quotes - Principal 

43-year-old male at Preferred health class - pricing per month

Coverage Amount10 year20 Year30 year
$250,000$20.13$29.84$48.64
$500,000$33.69$53.11$90.72
$1,000,000$55.68$96.52$169.05

36-year-old female at Preferred health class - pricing per month

Coverage Amount10 year20 Year30 year
$250,000$13.31$17.01$23.94
$500,000$20.05$27.46$41.33
$1,000,000$28.77$45.08$74.91

Company Info

A.M. Best rating: A+Principal insurance company logo

S&P Rating: A+

BBB: A+

Address:

711 High Street
Des Moines, IA 50392-0001

Phone: (800) 986-3343

About:

"Our expertise spans the globe, but we’re bound by one common purpose: to give you the financial tools, resources and information you need to live your best life.

Whether you’re looking to secure your own retirement or your clients’, we’ll work with you to find strategies that are right for you to help you meet your specific, long-term portfolio goals.

  • Retirement plans: #1 provider of Defined Benefit retirement plans1, #1 recordkeeper of Employee Stock Ownership Plans, and #1 provider of Nonqualified Deferred Compensation plans
  • Insurance: The #4 non-medical carrier
  • Mutual funds: #4 manager of target-date lifecycle mutual funds in the U.S.
  • Workplace culture: Top of category for Best Place to Work in Money Management, Best Place to Work in Information Technology, and One of America's Best Employers
  • Company ethics: One of the World's Most Ethical Companies9 and #3 Greenest CRE Company

We have $547.7 billion11 in assets under management, and you can trust us to manage your money, too. Join our 19.2 million customers worldwide, whom we serve through a national (U.S.) network of financial professionals and a diverse family of companies with offices in 18 countries."


Minnesota Life (Securian)

Low premiums Lenient underwriting Under $100,000 $101,000 to $400,000

Product Name: Advantage Elite Select Life Express IssueMinnesota life insurance company logo
Product Type: Term
Term Length (years): 5, 10, 15, 20, 30
Coverage Amounts: $50,000 to $249,999
Issue Ages: 16 to 55

LightbulbOur Advice: Unless you have a health condition that Minnesota Life specializes in such as depression or asthma, you can probably do better when shopping for no medical exam life insurance. Low maximum coverage amounts and one of the lowest maximum issue ages (55) are a couple of the reasons most shoppers end up elsewhere. Premiums are priced aggressively for lower coverage amounts (under 100k)

Pros:

  • Renewable on an annual basis up through age 95
  • Several niche health issues that Minnesota Life is lenient with
  • Very low premiums for under 100k in death benefit, hard to beat

Cons:

  • $250,000 max coverage is low
  • Maximum issue age of 55 is one of the lowest in the industry
  • No riders included in base policy
  • Highest health class offered is Standard

Underwriting and Approval Process

  • Electronic application submission available

Underwriting will ALWAYS look at:

  • MVR - Motor vehicle report (driving record-DUI, speeding tickets, etc)
  • RX - Prescription database check (history of drugs prescribed)
  • MIB - Medical insurance bureau (previous life insurance denials/approvals)

Underwriting MAY look at:

  • Doctor's records - It is rare that medical records will be requested and is NOT part of the normal underwriting process.
  • Telephone interview - Dependent on health issues that may require more information.

yellow wall clock, several minutes before 12Fastest Decision: 3 days

Slowest Decision: 2 weeks


Conversion to Permanent Insurance

Conversion options (included at NO cost):

Minnesota Life allows for the term policy to be converted to a permanent policy without proof of insurability. For what is included in the base policy, this must be done within:

  • 5 years for 5/10/15 year term policies
  • 10 years for 20/30 year policies

If converted within the first 5 years, a credit equal to the entire first year's premium paid will be applied towards the new policy.

Conversion options (included WITH cost):

You have the option to add the Extended Conversion Agreement at the time of policy purchase. This allows the conversion period to be extended for the full period of the policy or until age 75.

The Extended Conversion Agreement adds around 3% more cost to the base premium.


Riders to Customize Your Policy

Available riders included at NO additional cost:

Minnesota Life does not include any riders in the base policy. Instead, they have chosen to let customers add exactly what they need a la carte.

Available riders WITH additional cost:

Accelerated Death Benefit Agreement (ABA)

This optional rider will give the option to take accelerated benefits if the insured has a life expectancy of 12 months of less resulting from a terminal illness or accident. The maximum living benefits that can be taken early is 75% of the policy face amount.

The death benefit will be reduced by the amount of living benefits received.

Family Term Agreement-Children

Similar to other child riders, this option provides for level term coverage for all children in the household, born/unborn, stepchild, or adopted. Age of eligibility is 14 days through 17 years. Coverage with the rider may stay in effect until the policy anniversary after the child's 25th birthday.

Child policies may be converted to a permanent policy up until age 25. Newly converted policy can be no more than 5x the original base amount of the children term policy.

Waiver of Premium Agreement for Disability (WPD)

Waiver of Premium rider provides for the payment of policy premiums in the event of a total disability. The disability must be a result of an accidental injury or disease the prevents the insured from performing employment duties. The WPD rider is valid up to age 60 of the insured.


Sample No Medical Exam Life Insurance Premiums

38-year-old male at Standard health class - pricing per month

Coverage Amount10 year20 Year30 year
$100,000$13.46$18.74$27.02
$175,000$20.26$29.50$43.98
$250,000$21.12$32.12$60.94

38-year-old female at Standard health class - pricing per month

Coverage Amount10 year20 Year30 year
$100,000$12.06$15.49$22.09
$150,000$15.88$21.03$31.86
$250,000$17.60$27.06$45.76

Company Info - Minnesota Life

A.M. Best rating: A+Minnesota life insurance company logo

S&P Rating: A+

BBB: A-

Address:

400 Robert St. N.
St. Paul, MN 55101

Phone: (651) 665-3500

About:

"We help people and businesses achieve financial security for the long run.

Securian takes a long-term approach to insurance, investment, and retirement solutions through our affiliates, including Minnesota Life – a respected presence in the insurance and financial services industry for more than a century."


New York Life

Lenient underwriting Good conversion options Under $100,000

Product Name: Simplified Term Life InsuranceNew York Life Insurance company logo
Product Type: Term
Term Length (years): Annually renewable up to age 80
Coverage Amounts: $10,000 to $100,000
Issue Ages: 30 to 74

LightbulbOur Advice: New York Life is an extremely well-known company but for no exam coverage, you can probably do better. The strength of their company is tough to beat so if that is a big concern, they are worth looking at. The simplified issue term coverage is an ART (Annually Renewable Term) that increases each in every 5 years. The high price of premiums and low maximum coverage amount do not make it a very popular choice in the no medical exam arena.

Pros: 

  • Issued up to age 74 which is higher than most other non-med carriers
  • Top ratings by all the major agencies show the strength and solvency of the company
  • Simple application process with only 3 questions
  • Able to convert to permanent policy up to age 80, higher than most

Cons:

  • Very low maximum coverage amount of $100,000
  • Premiums pricing is very high compared to other non-med carriers
  • Approval process is long for no exam coverage

Underwriting and Approval Process

  • Electronic application submission available

Underwriting will ALWAYS look at:

  • MVR - Motor vehicle report (your driving history)
  • RX - Prescription database check (shows what prescription drugs you've taken)
  • MIB - Medical insurance bureau (previous life insurance denials/approvals)

Underwriting MAY look at:

  • Doctor's records - Will sometimes be ordered depending on age of applicant

3 question application:

You will be asked the below 3 questions. Answering "No" to any of them is a likely decline for no exam coverage. You will still have the option to go through the regular underwriting process.

  1. In the past 2 years, have you had treatment or medication for or been diagnosed by a doctor as having heart trouble, stroke, cancer, lung disease, diabetes requiring insulin, drug or alcohol abuse, liver or kidney disease, AIDS, AIDS Related Complex or immune system disorder?
  2. In the past 2 years, for any condition, have you been admitted to or confined in a hospital, nursing home, extended care or special treatment facility?
  3. In the past 3 months, have you been advised by a doctor or had treatment, medication or diagnostic tests of any type? (Note: You are not required to report any HIV or negative AIDS tests.)

yellow wall clock, several minutes before 12Fastest Decision: 2 weeks

Slowest Decision: 4 weeks


Conversion to Permanent Insurance

Conversion options (included at NO cost):

New York Life allows this policy to be converted up until the policy anniversary following the 80th birthday of the insured. This is a little higher than competing non-med products.

The policy may be converted without any proof of insurability and regardless of any health conditions you may have developed.


Riders to Customize Your Policy

New York Life does NOT offer any riders with their simplified issue term insurance.


Sample No Exam Life Insurance Quotes - New York Life

New York Life's no exam policy does NOT have set term lengths. It is annually renewable following the below rate schedule. Your initial premium will be based on your age at the time of policy issue. Your premiums increase as you enter a new 5 year age band. (pricing below per month)

Women

Life insurance premium chart for New York life no exam policy - Women's rates

Men

New York Life insurance company no exam rate table for men

 Source: www.nylexpress.com

Company Info

A.M. Best rating: A++New York Life Insurance company logo

S&P Rating: AA+

BBB: B+

Address:

51 Madison Ave.
New York, NY 10100

Phone: (212) 576-7000

About:

"New York Life’s mission is to provide financial security and peace of mind through our insurance, annuity and investment products and services.

By continuing to be a mutual company, we are uniquely aligned with our customers. By maintaining superior financial strength, we protect their future. By acting with integrity and humanity, we earn their trust and loyalty.

Every decision we make, every action we take has one overriding purpose: To be here when our customers need us.

That is why we call ourselves The Company You Keep."


The Cincinnati Life Insurance Company

Low premiums Lenient underwriting Good conversion options Under $100,000

Product Name: LifeHorizons TermsetterCincinnati life insurance company logo
Product Type: Term
Term Length (years): 10, 15, 20, 25, 30
Coverage Amounts: $25,000 to $99,999
Issue Ages: 18 to 60

LightbulbOur Advice: Cincinnati Life Insurance company continually receives praise and awards for their commitment to customer service and ethical practices. This is reflected in their A+ rating from the Better Business Bureau.

Death benefit maximums are lower than most companies but if you need under $100,000 in coverage, their pricing is excellent at the Standard health class.

Pros:

  • Aggressively priced rates for under $100,000 in coverage, some of the best around
  • One of a few companies that consider tobacco chewers as non-smokers.
  • Often praised for superior customer service

Cons:

  • Low maximum death benefit
  • Long approval and decision times
  • Standard health class is highest available
  • Non-med only available to age 60

Underwriting and Approval Process

  • Electronic application submission available

Underwriting will ALWAYS look at:

  • MVR - Motor vehicle report (driving record)
  • RX - Prescription database check (pharmacy report showing drugs you've taken)
  • MIB - Medical insurance bureau (previous life insurance denials/approvals)
  • Doctor's records

Underwriting MAY look at:

  • Telephone interview - Rarely. If needed to clarify a specific health issue from your records.

yellow wall clock, several minutes before 12Fastest Decision: 2 weeks

Slowest Decision: 8 weeks


Conversion to Permanent Insurance

Conversion options (included at NO cost):

Cinncinatti Life allows you to convert to a permanent policy before the age of 70. No further proof of insurability is needed at conversion time.


Riders to Customize Your Policy

Available riders included at NO additional cost:

Accelerated Death Benefit Rider

Included rider allows for living benefits to be taken when the insured is diagnosed with a terminal illness and given less than 24 months to live. Many companies require 12 months or less to live so this is a nice addition.

You may take up to 50% of the death benefit or a maximum of $250,000.

The death benefit will be reduced by the amount of living benefits received.

Available riders WITH additional cost:

Children's Insurance Rider

Optional rider gives term insurance coverage for all children in the household (both current and future) under one rider payment. Coverage on the children lasts up until age 25 and has a maximum amount of $20,000.

Waiver of Premium Rider

If the insured becomes completely disabled for 4 consecutive months, this rider will make their premium payments keeping the policy active and in force.

Accidental Death Benefit Rider

The additional death benefit will be paid to the beneficiary if the insured dies from an accident.


Sample No Exam Life Insurance Rates - Cincinnati Life

40-year-old male at Standard health class - pricing per month

Coverage Amount10 year20 Year30 year
$25,000$9.42$10.78$13.84
$50,000$12.23$14.96$21.08
$75,000$15.05$19.14$28.31

40-year-old female at Standard health class - pricing per month

Coverage Amount10 year20 Year30 year
$25,000$8.93$9.86$11.95
$50,000$11.26$13.11$17.29
$75,000$13.60$16.37$22.64

Company Info

A.M. Best rating: ACincinnati life insurance company logo

S&P Rating: A+

BBB: A+

Address:

6200 S. Gilmore Road
Fairfield, OH 45014-5141

Phone: (513) 870-2000

About:

" In 1950, four independent insurance agents formed The Cincinnati Insurance Company. Their dedication and commitment to the independent agency system remains our mission as we keep agents at the center of our identity.

We believe that locally based agents have the relationships in their communities that lead to satisfied, loyal policyholders. We complement the service you receive from your local agent by employing local field representatives who are supported by associates at our headquarters in Fairfield, Ohio. These empowered field representatives take action to respond to agents and policyholders quickly and personally.

Our parent company, Cincinnati Financial Corporation, operates through a family of insurance and financial services subsidiaries including The Cincinnati Insurance Company which itself has four insurance subsidiaries. Together, The Cincinnati Insurance Company and its subsidiaries are among the nation's top 25 property casualty insurer groups, based on 2015 net written premiums. Four independent insurance financial strength rating agencies acknowledge our ability to meet financial obligations to policyholders.

We believe it's important to act ethically, treating people the way we would want to be treated. In recognition of those efforts, Cincinnati Financial Corporation ranks among America's 50 Most Trustworthy Financial Companies in 2015. This Marks the fifth consecutive time Forbes has recognized Cincinnati Financial for trustworthiness.

Our financial strength, stability, and ethical approach allow us to better serve agents, help people recover financially after losses and build value for shareholders."


Banner Life

Low premiums Fast approval Good conversion options Under $100,000 $101,000 to $400,000 $401,000+

Product Name:  Banner OPTermBanner Life Insurance company logo
Product Type: Term insurance
Term Length (years): 10, 15, 20, 25, 30
Coverage Amounts: $100,000 to $500,000
Issue Ages: 20 to 50

LightbulbOur Advice: Banner is known for some of the most competitive rates in the market. In May 2016, they began offering their standard OPTerm products without a medical exam for the top 3 health classes with their APPcelerate program. This was designed to give quicker approvals to qualified applicants.

However, this is NOT a stated non-medical exam policy, it just might be for certain people depending on what the underwriters say.

Pros: 

  • Some of the lowest rates in the industry for many ages and health classes.
  • Quick approval process

Cons:

  • May need to take a medical exam. Will not know until you are in the process.
  • Low maximum age of 50 for new policies.
  • Only available for Preferred Plus, Preferred, and Standard Plus health ratings.

Underwriting and Approval Process

  • Electronic application submission available

Underwriting will ALWAYS look at:

  • MVR - Motor vehicle report (driving history showing DUI, reckless driving, etc)
  • RX - Prescription database check (will show any drugs you have been prescribed)
  • MIB - Medical insurance bureau (previous life insurance denials/approvals)

Underwriting MAY look at:

  • Medical exam - A good percentage of applicants will need to take an exam.
  • Doctor's records -This will depend on health and age of the applicant.
  • Telephone interview - Dependent on health issues that may require more information.

yellow wall clock, several minutes before 12Fastest Decisiona few hours (if no exam required)

Slowest Decision: 6 weeks (if medical exam and full underwriting required)


Conversion to Permanent Insurance

Conversion options (included at NO cost):

May be converted to a permanent policy for the entire initial guaranteed level term period or up to age 70, whichever comes earlier.

Evidence of insurability is NOT required at time of conversion.


Riders to Customize Your Policy

Available riders included at NO additional cost:

Accelerated Death Benefit

An accelerated death benefit is payable if the insured is diagnosed with a qualifying terminal illness. Benefit payments are the lesser of $500,000 or 75% of the policy's primary death benefit.

If accelerated benefits are taken, these are considered a loan with interest.

The death benefit will be reduced by the amount of living benefits received.

Available riders WITH additional cost:

Waiver of Premium

Banner will waive all premiums if the insured becomes totally disabled. In order to take advantage of this waiver, the following conditions must be met:

  1. Proof is provided of total disability
  2. Total disability must exist for a minimum of 6 months

Additional Term Riders

Additional term riders are a way of providing more coverage for set amount of time. This is also sometimes known as "laddering" of policies. In this case, you do not need a separate policy but rather attach an additional term rider(s) for the needed coverage.

For example: On a base 20-year term, you might add a 10-year term rider to provide extra coverage while your children are in college. After 10 years, the rider ends and you continue on with the remaining time left on the base policy.

Children's Rider

Provides a small amount of life insurance coverage to the children in the household. One single rider will cover all eligible children up to the EARLIER of:

  • Child's 25th birthday
  • Insured's 65th birthday
  • Policy termination

Sample No Exam Term Life Insurance Quotes - Banner Life

38-year-old male at Preferred health class - pricing per month

Coverage Amount10 year20 Year30 year
$100,000$11.64$12.51$18.90
$250,000$15.75$20.45$31.47
$500,000$24.94$34.94$56.37

38-year-old female at Preferred health class - pricing per month

Coverage Amount10 year20 Year30 year
$100,000$8.50$11.11$15.31
$250,000$12.69$18.08$26.43
$500,000$19.69$30.12$46.29

Company Info

A.M. Best rating: A+Banner Life Insurance company logo

S&P Rating: AA-

BBB: A+

Address:

3275 Bennett Creek Avenue
Frederick, Maryland 21704

Phone: (301) 279-4800

About:

"In 1836, six respected lawyers met in a London coffee house where life insurance was the topic of discussion. They decided to form an association under the chairmanship of John Adams which was eventually named Legal & General Life Assurance Society. Those founders had the same attitudes toward innovation and risk taking as those which characterize the Legal & General Group today. The financial skills of those six lawyers laid the foundation for L&G’s worldwide business.

With its headquarters still in London, Legal & General has expanded its presence outside of the United Kingdom. It has operations in the United States, France, the Netherlands, India and the Gulf. Legal & General is a leading provider of risk, savings and investment management products in the UK. Its long history not only gives it credibility but it demonstrates the company's experience in every kind of economic climate. It currently has over 10 million customers for its life insurance, pensions, investments and general insurance plans."


SBLI

Low premiums Fast approval Lenient underwriting Good conversion options Under $100,000 $101,000 to $400,000 $401,000+ Simple Life Insure's Favorite

Product Name:  Guaranteed Level Premium TermSBLI no exam life insurance company logo
Product Type: Term Insurance
Term Length (years): 10, 15, 20, 25, 30
Coverage Amounts: $100,000 to $500,000
Issue Ages: 18 to 60

LightbulbOur Advice: In June of 2016, SBLI made some serious improvements to their no exam offerings. They now boast some of the lowest no exam premiums with the full range of health classes and high coverage amounts.

SBLI is definitely a top no exam company that should be strongly considered.

Pros: 

  • All health classes available
  • Low premiums, very competitive against other no exam companies
  • Fast approval process

Cons:

  • Maximum application age of 60 is lower than competitors

Underwriting and Approval Process

  • Electronic application submission available

Underwriting will ALWAYS look at:

  • MVR - Motor vehicle report (driving record history)
  • RX - Prescription database check (aka Pharmacy Report)
  • MIB - Medical insurance bureau (previous life insurance denials/approvals)
  • FCRA - Fair Credit Reporting Agency (credit bureau)

Underwriting MAY look at:

  • Doctor's records -This will depend on health and age of the applicant.
  • Telephone interview - Dependent on health issues that may require more information.

yellow wall clock, several minutes before 12Fastest Decision1 day

Slowest Decision: Up to 30 days if medical records need to be ordered and reviewed.


Conversion to Permanent Insurance

Conversion options (included at NO cost):

No exam policies can be converted to a level premium whole life or a universal life policy before the earlier of age 70 or end of the initial level term period.

No new proof of insurability is required at the conversion time.


Riders to Customize Your Policy

Available riders included at NO additional cost:

Accelerated Death Benefits

If the insured is diagnosed with a terminal illness, a portion of the death benefit may be accessed early.

The death benefit will be reduced by the amount of living benefits received.

Available riders WITH additional cost:

Children's Level Term Rider

Up to $25,000 of coverage for all eligible children in the household. Currently priced around $6 per month. One rider payment will cover multiple children.

Waiver of Premium

Coverage will be continued without having to pay premiums if the insured becomes totally disabled.


Sample No Medical Exam Term Life Insurance Quotes - SBLI 

42-year-old male at Standard Plus health class - pricing per month

Coverage Amount10 year20 Year30 year
$150,000$19.43$29.71$45.88
$350,000$33.03$48.89$82.14
$500,000$39.88$65.32$111.03

39-year-old female at Standard Plus health class - pricing per month

Coverage Amount10 year20 Year30 year
$150,000$15.05$21.62$30.12
$350,000$24.40$34.79$50.03
$500,000$26.88$42.92$66.39

Company Info

A.M. Best rating: A+SBLI no exam life insurance company logo

S&P Rating: A-

BBB: A+

Address:

One Linscott Road
Woburn, MA 01801

Phone: (781) 938-3500

About:

"SBLI (Savings Bank Life Insurance) was founded in 1907 by future Supreme Court Chief Justice Louis Brandeis. Through savings banks, Brandeis wanted to give families a low-cost, trustworthy alternative for life insurance at a time of distrust in the insurance industry. While SBLI has grown into one of the nation’s leading life insurance companies, Brandeis’ founding mission remains: to offer affordable, dependable life insurance to all who need it.

Affordable

SBLI has always offered some of the lowest rates in the country. In fact, you could save hundreds of dollars with us versus other insurers over the length of your policy.

Dependable

Thanks to a responsible investment approach and efficient business practices, SBLI has earned impressive ratings for financial strength, so policyholders know we will be there when their families need us most.

No Nonsense

Protecting your family with life insurance is one of your most important financial decisions. That doesn’t mean it should be difficult. We pride ourselves on making life insurance easy by removing the nonsense and confusing jargon from the purchase process."


Phoenix Life Insurance Company - Safe Harbor Term Life Express

Fast approval Lenient underwriting Good conversion options Good riders and policy customizations Under $100,000 $101,000 to $400,000

Product Name:  Safe Harbor Term Life ExpressPhoenix life insurance company logo
Product Type: Term insurance
Term Length (years): 10, 15, 20, 30
Coverage Amounts: $25,000 to $400,000
Issue Ages: 18 to 80

LightbulbOur Advice: Phoenix life insurance company does have a B rating which we typically don't recommend. However, there are some unique strengths about their no medical exam offerings that make it worth considering. The included riders are excellent and the underwriting is on the lenient side of things.

If you need more than $50,000 in coverage, we suggest considering the other Safe Harbor no exam product. The rates are substantially lower and in return you only have to agree to your medical records being reviewed.

Pros: 

  • Can apply up to age 80 for 100k in coverage
  • Lenient underwriting for some medical conditions
  • Excellent included riders in base policy, some of the best on the market
  • Living benefits riders pay up to 95% of base policy, higher than most companies

Cons:

  • B rated life insurance company
  • Standard and Standard Tobacco are highest health classes available.
  • Cost is high for many age brackets

Underwriting and Approval Process

  • Electronic application submission available

Underwriting will ALWAYS look at:

  • MVR - Motor vehicle report (driving history including speeding tickets)
  • RX - Prescription database check (record of any prescription drugs you took)
  • MIB - Medical insurance bureau (previous life insurance denials/approvals)

Underwriting MAY look at:

  • Nothing else. You are either approved or denied, all electronically and within minutes.

yellow wall clock, several minutes before 12Fastest Decisionminutes

Slowest Decision: minutes


Conversion to Permanent Insurance

Conversion options (included at NO cost):

Convertible to a permanent policy at same underwriting class without having to prove health. Full and partial conversions are permitted.

The amount of time allowed to convert your policy will depend upon the length of the initial term purchased.

  • 10-Year Term: Convertible in the first 5 policy years
  • 15-Year Term: Convertible in the first 7 policy years
  • 20-Year Term: Convertible in the first 10 policy years
  • 30-Year Term: Convertible in the first 10 policy years

Riders to Customize Your Policy

Available riders included at NO additional cost:

Critical Illness Rider

If insured experiences or is diagnosed with any of the following conditions, may take up to 95% of policy amount as living benefits. The minimum acceleration amount is $5,000.

  • Heart attack
  • Stroke
  • Cancer
  • Kidney failure
  • Major organ transplant
  • ALS

Chronic Illness Rider

If unable to perform at least 2 of the 6 activities of daily living, insured may take living benefits up to 95% of the policy face amount. The impairment must last longer than 90 days to qualify. The insured may take this election more than once but no more than one time in a calendar year.

Terminal Illness Rider

Insured must be diagnosed as terminally ill with a life expectancy of less than 12 months. May take livings benefits up to 95% of policy face amount.

The death benefit will be reduced by the amount of living benefits received.

Unemployment Rider

Automatically included for issue ages 18-60. The unemployment rider will pay 6 months of premium if the insured becomes unemployed for at least 4 weeks.

The rider must be elected within 90 days of qualification. Must be receiving state or federal unemployment benefits to qualify. This is a one-time election.

Available riders WITH additional cost:

Accidental Death Benefit Rider

The beneficiary will receive additional death benefit should the insured die from a covered accident. Rider must be elected at time of issue.

Must be under age 65 at time of issue to take this rider. Automatically terminates when insured reaches age 70.


Sample No Medical Exam Life Insurance Quotes - Phoenix

33-year-old male at Standard health class - pricing per month

Coverage Amount10 year20 Year30 year
$25,000$10.25$11.35$12.97
$40,000$12.67$14.43$17.02
$50,000$14.28$16.48$19.72

33-year-old female at Standard health class - pricing per month

Coverage Amount10 year20 Year30 year
$25,000$9.43$10.83$12.45
$40,000$11.36$13.60$16.19
$50,000$12.64$15.45$18.68

Company Info

A.M. Best rating: BPhoenix life insurance company logo

S&P Rating: B+

BBB: A+

Address:

One American Row
PO Box 5056
Hartford, CT 06102-5056

Phone: 1-800-628-1936

About:

"Founded in 1851, The Phoenix Companies, Inc. offers annuities and life insurance designed to meet income and protection needs of families and individuals planning for or living in retirement. Our products are available primarily through independent agents and financial professionals.

Phoenix is a wholly owned subsidiary of Nassau Re. Our corporate headquarters are in Hartford, Connecticut, and we have a customer service center in East Greenbush, New York."


5 Star Life Insurance Company

Fast approval Lenient underwriting Under $100,000 $101,000 to $400,000

Product Name:  5 Star Life Insurance - Family Protection Plan 5Star life insurance company logo
Product Type: Term insurance to age 100
Term Length (years): Term to 100 (you do not select a term length)
Coverage Amounts: $10,000 to $100,000
Issue Ages: 18 to 70

LightbulbOur Advice: A unique product in the no exam market, 5 Star offers approval if you can say "No" to 7 questions. There are no other medical records or electronic database checks.

You will pay a little more for this lenient underwriting but the premiums are guaranteed level up to age 100. Approval is immediate but the maximum coverage amount is low. For certain people, this is definitely one to consider.

Pros: 

  • Rate guaranteed not to rise up to age 100
  • 7 questions for application, no additional underwriting or record checks
  • Immediate approval
  • Smokers do not pay higher rates

Cons:

  • Coverage limit of $100,000
  • Higher premiums initially although locked in until age 100

Underwriting and Approval Process

  • Electronic application submission available

7 questions on the application. Must answer "No" to all of them. No additional underwriting.

  • Has Applicant ever applied for and been rejected for life insurance?
  • Has Applicant been hospitalized in the past 90 days?
  • Has Applicant been diagnosed or treated by a member of the medical profession or tested positive for: Human Immunodeficiency Virus (HIV), Acquired Immune Deficiency Syndrome (AIDS), or AIDS Related Complex (Arc)?

In the past 5 years, has Applicant been hospitalized for, been diagnosed or treated by a member of the medical profession or taken prescription medication for:

  • Angina, heart attack, stroke, heart bypass surgery, angioplasty, coronary artery stenting, or coronary artery disease?
  • Any form of cancer to include leukemia or Hodgkin’s Disease, (excluding non-invasive, non-melanoma skin cancer)
  • Chronic obstructive pulmonary disease (COPD), emphysema, or any other chronic respiratory disorder, excluding asthma.
  • Alcoholism or drug or alcohol abuse, cirrhosis of the liver, hepatitis, or any other disease of the liver.

yellow wall clock, several minutes before 12Fastest DecisionImmediate

Slowest Decision: Immediate


Conversion to Permanent Insurance

The 5 Star Family Protection Plan does NOT offer a conversion to a permanent policy however it is already sort of a hybrid. As long as you pay the premiums, you are guaranteed to have coverage up to age 100 and your premiums will never rise.


Riders to Customize Your Policy

Available riders included at NO additional cost:

Terminal Illness Rider

Insured may receive up to 30% of the policy death benefit in a lump sum while still living. This is paid out with the diagnosis of a terminal condition that results in an expected lifespan of fewer than 12 months.

The death benefit will be reduced by the amount of living benefits received.

Available riders WITH additional cost:

Spousal Coverage

Ability to add your spouse for additional coverage under the same policy. Spouse must be able to answer same 7 medical questions.

Child and Grandchild coverage

Smaller policies up to $20,000 available for children and grandchildren.


Sample No Exam Life Insurance Quotes - 5 Star

A few important things to understand about the 5 Star no exam rates:

  1. Premiums are the same for men and women.
  2. Premiums are the same whether you use tobacco products or not.
  3. The premiums are guaranteed not to rise up to age 100. The rate you pay the entire time is based on the age you applied, is does NOT increase.
  4. The coverage amount can decrease after 10 years if there is a higher than expected mortality within the group. Thus far, 5 Star has NEVER had to decrease coverage. The structure of the rate table is built in such a way that 5 Star does not expect to decrease coverage in the future.
  5. Your exact rate can be seen using our no medical exam quote tool.
Age on
Application
Date
$50,000$100,000$150,000
21$18.46$32.58$46.71
24$18.46$32.58$46.71
27$18.79$33.25$47.71
30$20.63$36.92$53.21
33$23.54$42.75$61.96
36$27.54$50.75$73.96
39$32.71$61.08$89.46
42$39.54$74.75$109.96
45$47.79$91.25$134.71
48$56.96$109.58$162.21
51$68.25$132.17$196.08
54$84.63$164.92$245.21
57$105.25$206.17$307.08
60$128.08$251.83$375.58
63$154.29$304.25$454.21
66$188.83$373.33$557.83
70$262.67$521.00$779.33

Company Info

A.M. Best rating: A-5Star life insurance company logo

S&P Rating: Not applicable

BBB: A

Address:

909 N Washington St
Alexandria, VA 22314

Phone: (877) 940-7200

About:

"5Star Life Insurance Company (5Star Life), a related enterprise of the Armed Forces Benefit Association (AFBA), is a growing provider of supplemental and voluntary life insurance to the worksite/group markets as well as a provider of individual life insurance to the senior markets. Insurance is sold by 5Star Life contracted independent brokers/producers committed to offering insurance products customized to fit the needs of their clients.

Unlike many large companies in the life insurance industry, 5Star Life does not try to be everything to all people. You can feel comfortable you are working with a niche player with years of experience and happy to be focused on a few target markets with products and services designed around the needs of those markets.

You can be assured of our financial stability and know we will be here to keep our promise and pay claims when the time comes. Our corporate strategy focuses on ensuring measured, profitable growth that enables us to be sustainable over the long term. 5Star Life is rated A- Excellent by A.M. Best* and among life insurance companies our size and scope, we are one of the highest rated. According to a 2016 Independent Comparative Report, 5Star Life exceeds life insurance industry averages in liquidity ratio, net premiums to capital, capital and surplus to liabilities, percent of investment portfolio rated investment grade.**

Founded in 1996, today 5Star Life insures over 800,000 lives with $41.8B insurance in force. We strive to provide a flexible business model that enables us to serve the needs of our diverse clientele — an insurance advisor to individuals and organizations, and a valued partner to brokers.

AFBA was established in 1947 with the support of the General of the Army, Dwight D. Eisenhower, to ease the strain on military members and their families during wartime. At that time, service members could not purchase life insurance that would pay a death benefit if the member was killed in a war zone.

From its first offices in the basement of the Pentagon, and for nearly 70 years, AFBA has served the Armed Forces in times of war and peace. Serving those who serve this great nation."


John Hancock SmartProtect Term with Vitality

Fast approval Good conversion options $101,000 to $400,000 $401,000+

Product Name:  SmartProtect Term with VitalityJohn Hancock no exam insurance company logo
Product Type: Term insurance
Term Length (years): 10, 15, 20
Coverage Amounts: $100,000 to $1,000,000
Issue Ages: 20 to 60

LightbulbOur Advice: A product unlike any currently on the market. It requires the insured to be an active participant in their health AFTER getting insured to maintain and achieve lower premiums. By living a healthy life and doing things like getting a flu shot, you accumulate points that can lower your rates.

The initial price of the coverage is on the high side but John Hancock is a very well known name in the industry. The $1,000,000 coverage maximum is 1 of only 2 companies offering this much without taking a medical exam.

Pros: 

  • High coverage limit of $1,000,000
  • Fast underwriting process
  • Allows insured to earn points to get lower rates

Cons:

  • Must be in excellent health to be approved
  • Priced higher than competitive no exam options

Underwriting and Approval Process

  • Electronic application submission available

Underwriting will ALWAYS look at:

  • MVR - Motor vehicle report (driving record-DUI, reckless driving, speeding tickets, etc)
  • RX - Prescription database check (shows any drugs you have been prescribed)
  • MIB - Medical insurance bureau (previous life insurance denials/approvals)

Underwriting MAY look at:

  • Doctor's records -Dependent on health of insured applying

yellow wall clock, several minutes before 12Fastest Decision2 days

Slowest Decision: 1 week


Conversion to Permanent Insurance

Conversion options (included at NO cost):

Allows for conversion to a John Hancock permanent policy after the 1st policy anniversary but no later than the 10th policy anniversary.


Riders to Customize Your Policy

Available riders WITH additional cost:

Accelerated Benefit Rider:

If the insured is diagnosed with a terminal illness, a percentage of the death benefit can be taken early, while still living.

The death benefit will be reduced by the amount of living benefits received.


Sample No Exam Term Life Insurance Quotes - John Hancock

The John Hancock Vitality term has a few moving parts and as such, is not available in our quoting tool and is difficult to provide accurate sample rates.

The premium you will pay is based upon the level in the program you obtain, Bronze, Silver, Gold, Platinum. Those that earn points and stick with the program can move up to Platinum level which means the best (lowest) possible rates. You can also, however, be moved down in levels if you do not stick with the program. This brings a rate increase down.

Contact our office to discuss this program further and receive a custom quote.


Company Info

A.M. Best rating: A+John Hancock no exam insurance company logo

S&P Rating: AA -

BBB: A+

Address:

197 Clarendon Street
Boston, MA 02116

Phone: (617) 572-6000

About:

"With a proud history of more than 150 years, John Hancock empowers people to feel confident about the future by providing innovative insurance products that protect their loved ones, grow their savings, and preserve their wealth.

John Hancock:

  • Provides solutions to more than 3.5 million policyholders
  • Delivers on its promises with over $2.3 billion in claims paid annually
  • Has financial strength ratings that are among the highest in the industry
  • Offers a wide range of products through an extensive network of agents, brokers and financial planners across the U.S."

American Amicable

Lenient underwriting Good conversion options Good riders and policy customizations Under $100,000 $101,000 to $400,000 Simple Life Insure's Favorite

Product Name: Term Made SimpleAmerican Amicable insurance company logo
Product Type: Term insurance
Term Length (years): 10, 15, 20, 30
Coverage Amounts: $50,000 to $400,000
Issue Ages: 18 to 75

LightbulbOur Advice: A well-rounded product worth considering. Contains excellent living benefits and ability to renew up to age 95 which is higher than most policies. Conversion rights up to age 75 also higher than many. There are cheaper options out there but American Amicable does offer some very nice value for your money in their no exam product.

Pros: 

  • Renewable up to age 95
  • Excellent riders and policy customizations

Cons:

  • Priced a little higher than other non-med companies
  • Standard is the highest health class offerred

Underwriting and Approval Process

  • Electronic application submission available

Underwriting will ALWAYS look at:

  • MVR - Motor vehicle report (how safe a driver are you?)
  • RX - Prescription database check (what prescription drugs have you taken?)
  • MIB - Medical insurance bureau (previous life insurance denials/approvals)

Underwriting MAY look at:

  • Doctor's records -This will depend on health and age of the applicant.
  • Telephone interview - Dependent on health issues that may require more information.

yellow wall clock, several minutes before 12Fastest DecisionSeveral days

Slowest Decision: 15 days


Conversion to Permanent Insurance

Conversion options (included at NO cost):

May be converted to a permanent plan on or before the EARLIER of:

  • Initial term expiry date
  • Policy anniversary after insured turns age 75
  • Within 5 years from the policy date if after age 75 birthday

New evidence of insurability will NOT be required to convert. The face amount of the new policy may not exceed the face amount of the original policy.


Riders to Customize Your Policy

Available riders included at NO additional cost:

Terminal Illness Accelerated Benefit Rider

Receive up to 100% of the policy face amount if you are diagnosed as terminally ill with a life expectancy less than 12-24 months (depending on state of residence)

Accelerated Benefits Rider - Confined Care

If confined to a nursing homes at 30 days after the policy is issued, can receive a monthly benefit. The monthly benefit is 2.5% of the face amount up to a maximum of $5,000 per month.

Chronic Illness Accelerated Benefit Rider

This rider provides for the ability to accelerate a portion of the death benefit early. A certified physician must declare that you are unable to perform at least 2 of the 6 activities of daily living (ADL's).

Available riders WITH additional cost:

Accidental Death Benefit

Provides additional death benefit amount to the beneficiary if the insured dies from an accidental cause.

Accelerated Living Benefit Rider

If diagnosed with a qualifying critical illness, death benefits may be accelerated and used while living.  This benefit has options to be purchased at 25%, 50%, or 100% acceleration of the base policy face amount. Living benefits may not exceed $100,000.

The death benefit will be reduced by the amount of living benefits received.

Children's Insurance Agreement

Provides for up to $15,000 of insurance coverage for each child in the household. Coverage remains in effect up to age 25 of the child at which point it may be converted into a new individual policy. The new policy can be up to 5 times the initial rider coverage without the need to proof insurability.

Total Disability Benefit Rider

This rider can provide income protection during a period of disability. Can pay up to $1,500 in monthly benefits for a maximum of 2 years.

Waiver of Premium Rider

The insurance company will waive your premiums if you become totally and permanently disabled. Allows for coverage to remain in force during the time of disability when you may have trouble paying the premium.

Waiver of Premium Rider for Unemployment Rider

American Amicable will waive your premium payments for the base policy and all riders for up to 6 months if you become unemployed. Unemployment must last for 4 weeks before you become eligible to use this rider.


Sample No Medical Exam Life Insurance Quotes 

42-year-old male at Standard health class - pricing per month

Coverage Amount10 year20 Year30 year
$100,000$21.96$30.24$40.59
$250,000$43.65$65.25$90.23
$400,000$66.06$100.62$140.58

38-year-old female at Standard health class - pricing per month

Coverage Amount10 year20 Year30 year
$100,000$15.93$18.72$25.02
$250,000$27.45$37.13$52.20
$400,000$40.14$55.62$79.74

Company Info

A.M. Best rating: AAmerican Amicable insurance company logo

S&P Rating: N/A

BBB: A+

Address:

425 Austin Avenue
Waco, TX 76701

Phone: 800-736-7311

About:

"Tracing its roots back to 1910, American-Amicable Life Insurance Company of Texas is a progressive special markets insurer. The Company offers innovative life insurance and annuity products developed to target the individual needs of protection, wealth creation, and estate preservation.

The Company continues to grow and prosper and has consistently maintained a solid financial position. American-Amicable Life Insurance Company of Texas is a part of the American-Amicable Group, which was acquired by Industrial Alliance Insurance and Financial Services, Inc. in 2010.

 Historically anchored on a foundation of financial integrity, responsible management, and a strong commitment to every policyholder, American-Amicable Life Insurance Company of Texas looks to the future with great enthusiasm."


Phoenix Life Insurance Company - Safe Harbor Term Low Band

Fast approval Lenient underwriting Good conversion options Good riders and policy customizations Under $100,000 $101,000 to $400,000 $401,000+ Simple Life Insure's Favorite

Product Name:  Safe Harbor Term Low BandPhoenix life insurance company logo
Product Type: Term insurance
Term Length (years): 10, 15, 20, 30
Coverage Amounts: $50,000 to $500,000
Issue Ages: 18 to 80

LightbulbOur Advice: This is 1 of 2 non-med products that Safe Harbor offers. Their products have excellent included riders as living benefits. They are a B-rated company unlike the majority we deal with.

If having the security of being able to access most of the death benefit should you suffer a critical illness is important, then Safe Harbor is one to consider. Pricing is excellent for some ages and coverage amounts and expensive for others.

Pros: 

  • Coverage available for applicants up to 80 years old
  • Lenient underwriting
  • Included living benefits among the best in the market
  • Will offer substandard table ratings for those with medical issues
  • Under 100k in coverage has very attractive pricing

Cons:

  • B-rated insurance company
  • Over 100k in coverage is priced high

Underwriting and Approval Process

  • Electronic application submission available

Underwriting will ALWAYS look at:

  • MVR - Motor vehicle report (shows driving infractions like DWI and speeding tickets)
  • RX - Prescription database check (pharmacy history of prescribed drugs)
  • MIB - Medical insurance bureau (previous life insurance denials/approvals)

Underwriting MAY look at:

  • Doctor's records - An APS may be ordered depending on the health history of the applicant

yellow wall clock, several minutes before 12Fastest Decisionminutes

Slowest Decision: 1 week


Conversion to Permanent Insurance

Conversion options (included at NO cost):

Convertible to a permanent policy at same underwriting class without having to prove health. Full and partial conversions are permitted.

The amount of time allowed to convert your policy will depend on the length of the initial term purchased.

  • 10-Year Term: Convertible in the first 5 policy years
  • 15-Year Term: Convertible in the first 7 policy years
  • 20-Year Term: Convertible in the first 10 policy years
  • 30-Year Term: Convertible in the first 10 policy years

Riders to Customize Your Policy

Available riders included at NO additional cost:

Critical Illness Rider

If insured experiences or is diagnosed with any of the following conditions, may take up to 95% of policy amount as living benefits. The minimum acceleration amount is $5,000.

  • Heart attack
  • Stroke
  • Cancer
  • Kidney failure
  • Major organ transplant
  • ALS

Chronic Illness Rider

If unable to perform at least 2 of the 6 activities of daily living, insured may take living benefits up to 95% of the policy face amount. The impairment must last longer than 90 days to qualify. The insured may take this election more than once but no more than one time in a calendar year.

Terminal Illness Rider

Insured must be diagnosed as terminally ill with a life expectancy of fewer than 12 months or less. May take livings benefits up to 95% of policy face amount.

The death benefit will be reduced by the amount of living benefits received.

Unemployment Rider

Automatically included for issue ages 18-60. The unemployment rider will pay 6 months of premium if the insured becomes unemployed for at least 4 weeks.

The rider must be elected within 90 days of qualification. Must be receiving state or federal unemployment benefits to qualify. This is a one-time election.

Available riders WITH additional cost:

Accidental Death Benefit Rider

The beneficiary will receive additional death benefit should the insured die from a covered accident. Rider must be elected at time of issue.

Must be under age 65 at the time of issue to take this rider. Automatically terminates when insured reaches age 70.


Sample No Exam Life Insurance Premiums - Phoenix

43-year-old male at Standard health class - pricing per month

Coverage Amount10 year20 Year30 year
$150,000$28.74$42.72$64.98
$300,000$51.26$79.22$123.75
$500,000$81.29$127.90$202.11

43-year-old female at Standard health class - pricing per month

Coverage Amount10 year20 Year30 year
$150,000$24.85$34.43$49.19
$300,000$43.50$62.65$92.17
$500,000$68.35$100.28$149.47

Company Info

A.M. Best rating: BPhoenix life insurance company logo

S&P Rating: B+

BBB: A+

Address:

One American Row
PO Box 5056
Hartford, CT 06102-5056

Phone: 1-800-628-1936

About:

"Founded in 1851, The Phoenix Companies, Inc. offers annuities and life insurance designed to meet income and protection needs of families and individuals planning for or living in retirement. Our products are available primarily through independent agents and financial professionals.

Phoenix is a wholly owned subsidiary of Nassau Re. Our corporate headquarters are in Hartford, Connecticut, and we have a customer service center in East Greenbush, New York."


About Simple Life Insure

Ty Stewart is the founder of SimpleLifeInsure. He is an independent life insurance agent that works for his clients nationwide to secure affordable coverage while making the process simple. There is never any cost to use his services.

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