Best No-Exam Life Insurance Companies 2023
Our investigation showed that Bestow is the top no-exam life insurance provider out of the 23 life insurance providers we analyzed. When choosing a life insurance provider, we looked into and evaluated a number of important variables, including cost, policies, coverage, riders, the application procedure, the provider’s financial stability, and customer happiness.
Bestow
Pros:
- Instant quotes available
- 30-day trial period
Cons:
- No riders available
- New policies not available for applicants 60+ years of age
For those under 60 searching for a straightforward term life insurance policy without riders, Bestow, a Dallas-based company, may be worth checking into further.
People between the ages of 18 and 60 can purchase policies with terms of 10, 15, 20, 25, and 30 years. Because premiums are level, they won’t alter over time. Apart from its no medical exam policies, Bestow is unique in that online candidates can learn immediately if they are authorized. However, because no riders are provided, applicants will be unable to tailor their policies in this way; those over 60 who want life insurance will have to search elsewhere.
The life insurance plans that Bestow, a digital life insurance firm, sells are ones that are issued by the North American Company for Life and Health.
Policy Types: Term life insurance
Coverage Amount: $50,000 – $1,500,000
Haven Life
Pros:
- Online application process
- Policies with lower coverage limits available
Cons:
- Not available in five states
- Lower age restrictions compared to other companies in our rating
The insurer’s no-medical-exam term life insurance option, Haven Simple, comes in terms of 5, 10, 15, and 20 years. Level premiums are offered, and the entire application procedure is done online. Ages 20 to 55 are the only ranges for which the Haven Simple policy is available. Unfortunately, if you live in California, Delaware, North Dakota, South Dakota, or New York, this coverage isn’t available to you.
Consider the company’s Haven Term policy, which has a death benefit of up to $3 million, if you need more insurance coverage. A medical examination could be necessary to apply for Haven Term.
Term life policies from Haven Life, a life insurance company, are either issued by MassMutual or C.M. Life Insurance Co., a MassMutual subsidiary.
Policy Types: Term life insurance
Coverage Amount: $25,000 – $500,000
State Farm
Pros:
- Some riders available
- May be able to convert policies
Cons:
- Low coverage limits compared to other companies in our rating
- Need to purchase policy through State Farm agent
Instant Answer Term Insurance and Guaranteed Issue Final Expense are two no-exam life insurance options provided by State Farm. With death benefits of up to $50,000, the Instant Answer Term Insurance policy offers the highest coverage maximum of the two. It only offers coverage up until the age of 50 and has a relatively brief tenure of 10 years. Because premiums are level, they won’t alter over time. However, you’ll probably pay extra if you decide to get a new term policy after your current one expires.
If you are over 50, you might want to think about State Farm’s Guaranteed Issue Final Expense insurance, which is open to applicants between the ages of 50 and 80. However, the death benefit is only between $10,000 and $15,000.
Policy Types: Term life and whole life insurance
Coverage Amount: Up to $50,000, depending on the policy purchased
USAA
Pros:
- Coverage available for general public, not just military members and families
- Riders available
Cons:
- Some riders not available in New York
- May not be a good fit for those who want to work with a broker or agent
The two no medical exam life insurance products offered by USAA, Essential Term and Guaranteed Whole Life, are accessible to the general public. Only applicants between the ages of 21 and 35 are eligible for the Essential Term policy, which includes a $100,000 death benefit and expires when the insured turns 39.
The Guaranteed Whole Life policy provides a lesser death benefit of between $2,000 and $25,000 but a higher age range for applicants of 45 to 85 depending on the state where you live. Mutual of Omaha is the underwriter of this policy. The premiums for both insurance are set.
Children’s term life insurance, term life event options, and future insurability for military personnel are a few of the available riders. Online application processes and prices are available to applicants.
Policy Types: Term life, whole life
Coverage Amount: Between $2,000 and $100,000, depending on policy
Nationwide
Pros:
- Policies available for people up to 80 years old
- Flexible premium payment schedule
Cons:
- No riders available for the no medical exam policy
- Need to be a Nationwide customer
A medical exam is not necessary for the Nationwide Simplified Whole Life policy, which provides coverage ranging from $10,000 to $50,000. This policy is designed for those who seek a straightforward application process and a sufficient death benefit to assist beneficiaries with modest bills like funeral costs and outstanding debt.
The Nationwide policy is a permanent life insurance plan, not a term life policy, in contrast to those offered by other providers. This means that, if premiums are paid, the policy is valid for the duration of the insured’s life. You must already have an insurance policy (such as a house or auto policy) with Nationwide or be willing to acquire an additional independent Nationwide policy in order to be eligible for this no-exam policy.
