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Best no-exam life insurance companies

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No-exam life insurance policies could be good for applicants concerned that an exam could result in higher premiums. Getty Images

Life is unpredictable, bringing both joyful and challenging moments. While we often focus on positive possibilities, it's crucial to consider potential hardships, including the loss of a loved one. To safeguard your family's financial well-being in such circumstances, many people opt for life insurance.

Life insurance policies provide a financial safety net, offering a predetermined sum to your chosen beneficiaries upon your passing during the coverage period. However, it's important to note that there are various types of life insurance available, each with its own features and benefits.

One common option is term life insurance, which provides coverage for a specific duration, typically ranging from 10 to 30 years. If you pass away within this timeframe, your beneficiaries receive the payout. In contrast, whole life insurance offers lifelong coverage but generally comes with significantly higher premiums compared to term policies.

Another alternative gaining popularity is no-exam life insurance. As the name suggests, these policies don't require a medical exam for approval. Instead, applicants usually answer a few health-related questions. This streamlined process often allows for quick policy approval, sometimes within minutes, and can offer competitive rates. No-exam options are available for both term and whole life insurance policies.

It's worth exploring some of the top providers offering no-exam life insurance. However, keep in mind that while a company may offer no-exam policies, not all applicants will necessarily qualify to skip the medical examination.

Get a free life insurance quote here now to see what it could cost you.

Best no-exam life insurance companies 2023

Here are five of the best no-exam life insurance companies broken down into five categories.

Best for high coverage amounts: Ladder

If you have high expenses, like a large mortgage and future college tuition payments for several kids, then traditional coverage amounts might not cut it. So, you might turn to a company like Ladder, one of the best insurers that offers no-exam term life insurance policies with limits up to $3 million.

Ladder also offers a streamlined, 100% digital application for coverage up to that $3 million limit, and you can get approved in around five minutes in some cases. The company does offer even higher limits — up to $8 million — but coverage past $3 million would require a medical exam. 

Get a free price estimate from Ladder today.

Best overall: Ethos

If you're looking for a great all-around no-exam life insurance provider, consider Ethos.

The company technically sells policies from its insurance partners, but everything is streamlined within Ethos, so it's not as if you're sorting through an insurance marketplace to find coverage.

One perk of Ethos is that it offers a fully digital application. You don't have to talk to an agent if you don't want to, and the company says you can get insured in as few as five minutes, although some applicants might need to answer follow-up questions that could take longer.

Ethos also offers relatively high limits for no-exam term life insurance policies, ranging from $100,000 to $2 million. Seniors might also find Ethos' guaranteed whole life insurance to be helpful. These policies do not require a medical exam, with guaranteed approval for those 65-85 looking for coverage between $10,000-$25,000, which can help with things like burial expenses.

As a bonus, Ethos policies come with free estate planning tools, which can be helpful at a time when you're already thinking about what would happen when you pass. 

Explore your no-exam options with Ethos today!

Best for cost: Transamerica

If you're primarily focused on getting a good deal on a no-exam life insurance policy, then Transamerica could be the way to go.

In general, the company offers some of the most competitive rates for no-exam term life insurance. Note, however, that the provider with the best rates can vary based on your situation, so it's good to comparison shop. 

Transamerica offers term life insurance policies starting at $25,000. You could even get coverage for up to $10 million, although amounts above $2 million would require an exam. While you can get an online quote for term life with Transamerica, you'll need to talk to an agent to complete your application, so it could take a few days or weeks to get coverage.

The company also offers policies like final expense life insurance, which is a type of whole life insurance to cover things like burial expenses. For that, Transamerica offers a fully digital application with no medical exam required.

Start comparison shopping here or via the below table now.

Best for seniors: State Farm

As you age, life insurance typically gets more expensive to buy, and your options might start to dwindle. Some insurers do not offer coverage for seniors at all, particularly when it comes to term life insurance. But one option could be to choose a State Farm policy.

The insurer has a few different no-medical-exam insurance options for seniors, such as permanent life insurance policies with limits below $100,000 up to age 80, although some applicants might still need an exam. Another option is guaranteed issue final expense insurance with limits between $10,000-$15,000 for those up to age 80.

If you want a term life policy during your golden years, consider planning ahead. You can potentially get a no-medical-exam term policy up to age 60 that then comes with a guaranteed annual renewal option up until age 95. Premiums would rise as you age, but this provides a route to maintain term life insurance without needing a medical exam.

Best for customer satisfaction: Amica

If your goal is to find a no-exam life insurance policy from a company with a great reputation among its customers, Amica may be worth a look. This life insurance company is rated highly by its policyholders, earning it an excellent reputation as a life insurance company with a low percentage of customer complaints, especially compared to many of its competitors. 

And, not only does Amica have an excellent reputation among its customers, but if you purchase a life insurance policy with this company, you have the option to choose between term life and whole life insurance policies. If you choose term life insurance, a medical exam is typically not required, and coverage limits can exceed $1 million on these policies. 

Amica's term and whole life insurance policies also come with riders for terminal illness or accelerated death benefits at no extra charge in most states, which can be a big benefit to the right life insurance customer. However, the company does not offer any other add-on riders, so the customization options are limited.

However, there are other perks to consider, too. For example, in addition to life insurance, Amica offers other types of insurance coverage, and purchasing more than one policy through this company can result in a multi-policy or bundling discount. So, if you purchase a life insurance policy and a car insurance policy (or another type of policy) through Amica, you may qualify for a discount depending on where you live.

The bottom line

These no-exam life insurance options can help you quickly protect your loved ones financially. In many cases, you can complete these no-exam life insurance applications online for maximum convenience, but even if you talk to an agent, that can still be more efficient than going to the doctor for a medical exam.

That said, some policies with medical exams end up costing less, or you might find that the policies you want require medical exams regardless. So, it's good to shop around for different types of insurance from different providers to see what works best for you and your family. You might find that a no-exam life insurance policy is the way to go, or you might find that it's worth it to take the extra step of seeing a doctor first.

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