No medical exam life insurance is any policy that you can apply for without undergoing a medical exam. Instead of taking an exam, you answer questions about your health and the insurance company reviews your medical and other records. In some cases, you may be asked to interview by phone. This is best for applicants who are in good health. If you are eligible, you may be able to get a policy in a matter of days or even online.
Nationwide is a financially sound, well-rounded life insurance company that offers a wide range of products. It’s our top choice for the best life insurance companies. The company provides coverage up to $5,000,000 without the need for applicants to have to take a medical exam. This is our second-highest pick, and there is no exam underwriting available for most types of policies.
Nationwide has a variety of policies, with most including three free-living benefits riders. If you are diagnosed with a terminal, chronic, or critical illness, they may allow you to access a portion of your death benefit while still alive. Nationwide was one of the few life insurance companies that offered this benefit out of all 91.
Nationwide also accepts credit card payments. Customers are taking notice: Nationwide ranked second in a J.D. According to the National Association of Insurance Commissioners, Power ranked second in a customer satisfaction survey. The company has had very few customer complaints during the last three years.
Nationwide’s no medical exam options for applicants over 50 are less generous. They will only allow you to apply for up to $1,000,000 if you are 51-to-60 years old. Although this may be enough for most applicants, it is far less than the offer of some other companies for this age group. The company also offers burial coverage that does not require a medical examination. It is only available to Nationwide policyholders.
Haven specializes in term policies that are simple to apply for and frequently issued within the same day. We found Haven’s website, quote, and application process to be the most user-friendly of all the providers we looked at. The company offers live chat and a lot of useful information to help you navigate the process. This is the right place to go if you are looking for quick coverage (coverage that lasts only a few years) with no bells and whistles.
Haven Life’s Haven Simple product offers same-day coverage up to $500,000 for healthy applicants over 55. The maximum coverage period is 20 years and it can’t be converted to a permanent policy like many other term policies from other providers.
C.M. issues policies MassMutual’s subsidiary, Life Insurance Company, issues policies.
Guardian provides coverage up to $3,000,000 without the need for a medical exam for applicants over 50. Although it is not as large as Nationwide or Penn Mutual, it is sufficient for many applicants. Guardian is an outstanding company, despite its non-medical-exam coverage. It is the only company on this list that has received an A++ rating by AM Best for financial strength. An A++ rating is the highest grade given by the rating agency and means that Guardian has a “superior ability” to pay its claims 2 Only nine of the 91 insurance companies we reviewed were so highly rated.
Guardian has not received any customer complaints in the last few years, and it pays dividends to eligible policyholders. The J.D. survey did not score well for Guardian. However, the company did not score well in the J.D.
Guardian’s website also contains very little information about policy, which can be problematic if you want to search for company offerings online without speaking with an agent.
We compiled more than 50 data points about 91 life insurance companies to help us make these findings. These include ratings for financial strength, customer satisfaction, and customer complaints.
Companies with strong financials, low customer complaints, high no-exam coverage amounts, high issue ages for no-exam coverage, and a wide product portfolio were given preference in our review process. Online resources were rated higher by companies, which included live chat and online quotes, as well as living benefit riders. Each company was ranked according to the following weights and categories.
- 28%: Features and availability without a medical exam
- 20% Features and types of policies
- 15%: Financial stability
- 15%: Customer satisfaction
- 13%: Easy application
- Online resources 9%
We compared the individual offerings of top companies using ratings from third parties like J.D. and AM Best to finalize our list. We also looked into the product details, including the cost and availability of dividends. This research was used to identify the most reliable, no-medical-exam-life insurance companies.