National Western No Exam Life Insurance Review
Quick Summary: National Western's NWL Rapid issue product its known for its fast approval and ability to renew up to age 95 without proving insurability. Overall it's a good product but depending on individual needs, there is often a better no exam choice for most our clients.
Skip the Exam
See our in-depth guide about life insurance without the medical exam. Compare more than 20 of the top companies and policies. Find out which is right for you today.
About the Company
National Western Life Insurance Company began offering insurance products in 1956 and is headquartered in Austin, Texas. Residents of all states except New York may purchase their products.
Consistently rated highly for their customer interactions, National Western maintains an A+ grade from the Better Business Bureau (BBB). On the financial side, their marks of A (Excellent) from A.M. Best and A (Strong) from Standard & Poor's demonstrate their strength on the balance sheets.
Among their products offered are term, permanent, and whole life insurance as well as universal and indexed universal life insurance. Several types of annuity products are also available for those in need of retirement income.
About the Policy
Product Name
NWL Rapid Issue
Coverage
$25,000 to $250,000
ISSUE AGE
20 to 65
TERM LENGTH
10, 15, 20, 30 years
Product Name
NWL Rapid Issue
COVERAGE
$25,000 to $250,000
ISSUE AGE
20 to 65
TeRM LENGTH
10, 15, 20, 30 years
Underwriting Process
National Western has a fast and efficient underwriting process that is done all electronically. They are one of the only carriers that will never request to see medical records which can really slow things down.
What they will check:
Decision Time
Because no medical records are ordered and it's done 100% digital, most underwriting decisions will be done in 1-3 days for an approval or denial.
Pros
Fast approval, many times the same day.
Guaranteed renewable up to age 95 despite any health changes.
Good choices for riders should you wish to customize the policy.
Cons
Maximum death benefit of $250,000.
Conversion to permanent insurance option is not automatically included (costs extra).
Extras and Options
For a no physical exam product, National Western Life offers an impressive selection of riders and policy add-ons.
Included at no charge:
Can be added with an additional cost:
With the purchase of a conversion option, your policy can be converted to a permanent insurance product before the end of the initial level term period or age 65, whichever comes first. This can be done regardless of health. If you select the conversion option, premiums will increase from day 1 of the policy whether or not you actually end up exercising the conversion.
Cost
National Western Life's cost of premiums is more expensive than competing non-medical products at other insurance companies.
Sample No Medical Exam Rates - National Western Life - NWL Rapid Issue
42-year-old male at Standard health class - pricing listed is per month
Death Benefit | 10 Year | 20 Year | 30 Year |
|---|---|---|---|
$50,000 | $21 | $26 | $34 |
$100,000 | $27 | $37 | $52 |
$200,000 | $43 | $64 | $95 |
36-year-old female at Standard health class - pricing listed is per month
Death Benefit | 10 Year | 20 Year | 30 Year |
|---|---|---|---|
$50,000 | $17 | $20 | $23 |
$100,000 | $18 | $24 | $30 |
$200,000 | $26 | $38 | $50 |
How to Find the Best No Exam Life Insurance
If you are considering life insurance without the physical exam, National Western might be one to consider.
Might....
There are over 800 life insurance companies in the United States and many of them now offer the choice to skip the medical exam. You need to choose the company based on it's financial strength, price of premiums, underwriting for your specific medical history, and policy requirements.
The best way to do this is to work with an independent agency that is:
No Pressure. No Cost.
You're in luck:)
We do all the above and more. If you'd like to have a no pressure talk about options, please contact us or fill out the quote request form on this site.
