Is Life Insurance With No Medical Exam More Expensive?

Getting life insurance with no medical exam is possible, but does this mean your policy will be more expensive? Here are the facts.

Coverage is Available

Many insurance companies advertise, especially online, that they offer “life insurance no medical exam.” One of these is Mutual of Omaha Life ( whose website offers “Coverage up to $400,000 – no physical exam, just a few simple health questions to determine eligibility.” The site states that these no medical exam policies are available with the flexibility of a wide range of affordable plans, no waiting period for coverage, consistent premiums that don’t increase over the life of the plan, and return of premium options for term policies.

Another online site promising life insurance and no medical exam is Globe Life Insurance, available through Here the website claims you can apply for term life insurance with no required medical exam in coverage up to $50,000.

Better Business accredited since 1998 with an A+ rating, offers a “quick and easy 3-step process” for obtaining life insurance with no required medical exam. The procedure is completed completely online and you have 30 days to change your mind. You answer questions online, pay by credit card and then print out your policy if you are approved. If you prefer, you can call an 800-number and go through the life insurance no medical exam process with an agent.

Is it More Expensive?

Usually these types of policies are more expensive. That’s because the insurance company is relying on you to provide information about your health and any medical conditions or history, and that entails risk on their part. Naturally, they’re going to charge higher premiums for life insurance without a medical exam than they do for persons who undergo the physical examination.

Some insurers online tout adult rates “as low as $3.49 per month” for this type of coverage. Others offer coverage for $1 for the first month and then rates based on your current age that are guaranteed for the life of the policy. Usually life insurance of this type is term life insurance, and premiums can be in the area of $300 per month.

You’ll choose from varying amounts of coverage – from $5,000, $10,000, $20,000, $30,000 or $50,000. Of course, the higher the amount of the coverage you choose, the more expensive your premium for life insurance no medical exam.

Generally these types of life insurance policies are a great supplement for existing insurance, or insurance that you have through your employer.

A younger person who is healthy and has no pre-existing medical conditions, however, can generally obtain a life insurance no medical exam policy with the least expensive premium.

There are also short-form life insurance policies known as guaranteed issue life insurance policies. The premiums for these policies are usually quite high. Coverage offered for these policies, which don’t require a medical exam, is very low. They are attractive for the elderly or overage individuals and are best used to supplement existing insurance, rather than to serve as primary life insurance.

What You Should Do

If you don’t have the time for a medical exam, or would prefer not to go through all the trouble – and you understand that your premiums will more than likely be more expensive – carefully research numerous insurance carriers offering a life insurance no medical exam policy.

  • Be sure to compare amounts of coverage, rates, and any special offers.
  • Check the insurance company’s A.M. Best rating and Better Business Bureau rating.
  • Carefully check the terms, conditions and eligibility requirements of the policy offered by the carrier you select – to ensure it’s what you want and/or need.
  • Answer all questions honestly and completely – if you provide misleading information that the insurance carrier later discovers, they can deny or cancel your coverage.

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