Can I get life insurance without a medical exam?
If you’ve been looking into life insurance coverage, you’ve probably learned that most life insurance companies require a medical examination before issuing a policy. While that is true, you can get life insurance without a medical exam. So if, for whatever reason, you’d prefer not to undergo an exam, take a minute to get familiar with the available options and learn about the potential advantages and disadvantages of no exam policies. Here, you’ll find answers to key questions:
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What is no medical exam life insurance?
Not all life insurance companies require a medical exam before issuing a policy. These companies offer what is known as no-medical-exam life insurance or no-exam life insurance. If you apply for one of these policies, you may have to answer some health-related questions on the application, but you won’t be required to undergo blood tests, exams, or the other standard procedures typically required to assess your health risk and eligibility for coverage.
Reasons to consider no exam life insurance
No-exam life insurance caters primarily to those seeking quick approval, those with health issues, and older applicants who might otherwise face difficulties getting approved. Some specific reasons for seeking a no-exam policy include:
You’re in a hurry and don’t have time to complete an exam.
Your occupation is risky and may have a high mortality rate.
You have a pre-existing health condition.
You’re a smoker.
You don’t need much coverage and want a simpler process.
The different types of no-exam life insurance
There are three basic ways to get a no-exam policy:
Simplified issue life insurance
These policies typically require a health questionnaire but not a physical exam. They generally have lower coverage limits (a maximum of $500,000 is typical), and premiums that are more expensive compared to traditional policies.Guaranteed issue life insurance
You are virtually guaranteed to be approved regardless of any pre-existing conditions, and there are usually no health-related questions or exams. Many of these policies are “final expense policies” – which cover funeral and other costs - and coverage limits are generally $50,000 or less. While monthly premiums may seem low, the price per $1,000 death benefit is almost always higher than other forms of coverage. Plus, there may be a waiting period before your survivors are eligible to receive a benefit payout, and there is a chance of a partial payout under certain conditions.Workplace (employer-sponsored) life insurance
Employer-sponsored life insurance often features cost-effective group rates and may not require a health exam unless you apply for coverage over a certain limit. If offered by your employer, this could be an excellent choice, especially if you have health issues that limit your ability to purchase other coverage.
The pros and cons of no-medical-exam life Insurance
Policy Type | Pros | Cons |
|---|---|---|
Simplified Issue | Quick and easy application process with no exam Fast approval | High premiums Low coverage limits |
Guaranteed Issue | Guaranteed approval No exam or health questions | High premiums Low coverage limits and chance of partial death benefit |
Workplace | Convenient No exam More affordable | Low coverage limits (for no-exam) Coverage may end when employment ends |
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Is no-exam life insurance right for you?
No exam life insurance may be best suited for those with pre-existing conditions, older adults who might not qualify for traditional policies, and people who need coverage quickly and don’t have time to complete the application process required for traditional policies. It's also for individuals who have a fear of medical exams or needles.
If none of these describes you – if you are a young adult or an older adult in good health - and you are looking for comprehensive life coverage with a higher death benefit and more cost-effective premiums, you may be better off applying for a policy that requires a medical examination and health questionnaire. In addition, if you have long-term financial obligations such as a mortgage or college tuition for your children, you may find that the coverage offered by policies requiring an exam more closely meets your need for financial protection.
Getting a life insurance medical exam
If the policy you're applying for requires a medical exam, the life insurance company will arrange for it and cover the costs. A nurse or other health care professional will typically come to your home or office, and the exam usually takes 15 to 45 minutes. It often has two parts: a questionnaire and a basic physical exam.
The physical exam will often record your age, height, weight, body mass index (BMI), pulse rate, and blood pressure. In addition, you may be asked to leave a urine sample and/or take a blood test, electrocardiogram (EKG), X-ray, or cognitive ability test.
The insurance company will review the results and your medical history when deciding whether to issue life insurance coverage and at what premium cost.
Click here for some helpful information about how you can prepare for your life insurance medical exam.
Guardian can help
Now that you’ve become more familiar with the ins and outs of no-exam life insurance, you may have decided that it’s not quite right for you. If you’re interested in traditional coverage – term life insurance or permanent life insurance (universal or whole life insurance) – speak to an insurance agent or reputable financial professional. If you don’t have someone to speak to, we can connect you with a Guardian financial professional who can assess your coverage needs and help you make a decision.