Best No Medical Exam Life Insurance in September 2023

COMPANY HIGHLIGHTS

MoneyGeek Score: N/A
J.D. Power (out of 1,000): N/A
AM Best Rating: A++
NAIC Complaint Index: N/A

MoneyGeek's Take: Haven Life offers an entirely digital experience, so you can buy term life insurance with no medical exam from anywhere, with instant coverage if approved.

Buying term life insurance with Haven Life is simple and quick. You can apply in less than 10 minutes for Haven Simple, thanks to the 100% online application process. Most applicants will get approved instantly. As soon as you are approved, coverage starts immediately, so you can have the peace of mind that your beneficiary will be paid if anything happens to you.

You can choose from 5-, 10-, 15- or 20-year term coverage starting at $25,000 and going up to $500,000, which is one of the higher coverage ranges for simplified issue term life insurance. Anyone between the ages of 20 and 55 can apply, and the policy is underwritten by a subsidiary of MassMutual called C.M. Life Insurance Company.

The no medical exam term life insurance policy has an accelerated death benefit rider at no extra cost. With this rider, if you are diagnosed with a terminal illness and have less than two years to live, you can receive a portion of the death benefit while still alive. You can use this money for any reason, but it reduces your death benefit owed to your beneficiary when you pass away. When the policy term expires, you can choose to renew it at your current age without a medical exam.

Policy Types Offered:

• Haven Simple

COMPANY HIGHLIGHTS

MoneyGeek Score: N/A
J.D. Power (out of 1,000): N/A
AM Best Rating: A
NAIC Complaint Index: N/A

MoneyGeek's Take: While Ethos Life wasn't scored with the same rating components as other companies, the insurer offers up to $2 million of term life insurance coverage without a medical exam, one of the highest coverage amounts for term life available.

With Ethos Life, applicants between 20 and 65 can apply for up to $2 million in term life insurance. You can choose from 10, 15, 20 and 30 years of term life insurance coverage. While no medical exam is required, you have to answer a few health questions to qualify. If you answer “no” to the health questions, you are approved, and coverage starts immediately. These simplified issue term life insurance policies are underwritten by one of three top life insurance companies: Ameritas, Legal & General America and TruStage.

Ethos Life offers a 30-day free look period, which allows you to cancel the policy for any reason within the first 30 days. If you do, there is no cancellation fee, and any money paid will be refunded in full. You don’t have to speak with an agent, but if you want to, Ethos has dedicated, salaried agents who don’t work on commission, so you can get the help you need. Ethos also offers one of the best no medical exam life insurance policies for seniors through AAA Life, with no medical exam or health questions and up to $30,000 in permanent life insurance coverage.

Policy Types Offered:

• 10-year term
• 15-year term
• 20-year term
• 30-year term

COMPANY HIGHLIGHTS

MoneyGeek Score: 90.8
J.D. Power (out of 1,000): 783.4
AM Best Rating: A+
NAIC Complaint Index: 1.20

MoneyGeek’s Take: Mutual of Omaha offers guaranteed acceptance no medical exam coverage for seniors that you can buy online or over the phone.

Mutual of Omaha is one of the most recognized names in the life insurance industry. It offers a guaranteed issue whole life insurance policy for applicants between the ages of 45 and 85 (50–75 in NY). Coverage ranges from $2,000–$25,000 (begins at $5,000 in WA), and there are no health questions or medical exams to complete.

This policy comes with a graded death benefit, which means your beneficiary will only receive 110% of the premiums instead of the death benefit if you die during the first two years. However, accidental deaths are covered immediately by a full death benefit paid to your beneficiary. Mutual of Omaha prides itself on fast claims payouts, with most paid within a day of filing.

You can also buy simplified whole life insurance for your child from Mutual of Omaha. Children as young as 14 days are eligible for up to $50,000 in coverage. There is no medical exam, but you have to answer three health questions about the child. If you answer “no,” then the policy is approved. The children’s whole life insurance policy has an immediate death benefit regardless of cause, and is a great way to get affordable, permanent life insurance with the option to purchase more at a later time without a medical exam or health questions.

Policy Types Offered:

• Children's Whole Life Insurance
• Guaranteed Whole Life Insurance

COMPANY HIGHLIGHTS

MoneyGeek Score: N/A
J.D. Power (out of 1,000): N/A
AM Best Rating: A
NAIC Complaint Index: 0.93

MoneyGeek's Take: AAA Life offers an immediate death benefit on its term and whole life products, regardless of the cause of death, which makes it a top pick, despite non-applicable scores in some areas.

At AAA Life, you can apply for term or whole life insurance without a medical exam or waiting period if you’re between the ages of 18 and 75. You can choose from 10, 15, 20 or 30 years of coverage, with death benefits between $25,000 and $500,000. The application process is quick and doesn’t require a medical exam for most, though some may be required to do a health screening to be approved. Once you’ve paid, the policy death benefit becomes immediately available, regardless of the cause of death.

If you want permanent life insurance, AAA Life offers up to $25,000 in whole life insurance without a medical exam. This policy can be customized with accidental death coverage (which doubles the death benefit if you die in an accident), waiver of premium for disability, travel accident coverage and a $5,000 children's term rider. Seniors can get up to $25,000 in guaranteed whole life insurance starting at 45, up to age 85. However, this policy comes with a graded death benefit, which pays 130% of the premiums paid as the death benefit if you die a non-accidental death in the first two years.

Policy Types Offered:

• ExpressTerm
• Simple Whole Life
• Guaranteed Issue Whole Life

COMPANY HIGHLIGHTS

MoneyGeek Score: 80
J.D. Power (out of 1,000): 736.4
AM Best Rating: A
NAIC Complaint Index: 1.30

MoneyGeek's Take: If you want no medical exam life insurance without a waiting period on the death benefit, Transamerica has term and whole life options available.

Most of Transamerica’s no medical exam life insurance products come without a waiting period or graded death benefit. That means if you die a day after your policy has been issued and paid for, your beneficiary receives the full death benefit, even for non-accidental deaths. Transamerica has three final expense whole life insurance options: Immediate Solution, 10-Pay Solution and Easy Solution. The Easy Solution policy is the only one with a graded death benefit, which pays 110% of premiums paid as the death benefit for non-accidental deaths. You can apply for up to $50,000 in permanent life insurance with no medical exam at any age.

If you prefer term life insurance, you can apply for up to $249,999 of Trendsetter LB and up to $99,999 of Trendsetter Super Series products without a medical exam. If you need more coverage, Trendsetter LB has coverage up to $2 million, and Super Series goes up to $10 million, which is medically underwritten. Each policy includes an accelerated death benefit for terminal illnesses, and the Living Benefit (LB) product also includes chronic and critical illness coverage at no extra cost.

Policy Types Offered:

• Final Expense Solution Portfolio
• Trendsetter LB
• Trendsetter Super Series

COMPANY HIGHLIGHTS

MoneyGeek Score: 77.2
J.D. Power (out of 1,000): 737.2
AM Best Rating: A
NAIC Complaint Index: N/A

MoneyGeek's Take: AIG's guaranteed issue whole life policy is one of the best no medical exam life insurance policies for seniors offering living benefits at no extra cost.

Many seniors end up with a chronic or terminal illness in their last years of life. AIG recognizes this need by offering whole life insurance for those aged 50–80 with guaranteed acceptance. You can buy up to $25,000 in whole life insurance with no medical exam or health questions, locking in the same rate for life. AIG’s policy includes two valuable living benefit riders for chronic and terminal illness, allowing you to access part of the death benefit while still alive, which can be used for any purpose — not just paying for medical bills.

The chronic illness benefit will return all premiums paid if you are diagnosed with severe cognitive impairment or cannot perform at least two activities of daily living (ADLs), like bathing, continence, dressing, eating, toileting, and transferring. If you are diagnosed with a terminal illness with less than two years to live, you can access up to 50% of the death benefit. Any acceleration in the death benefit is reduced, with the rest going to your beneficiary when you pass away. This policy comes with a graded death benefit, which means if you die from a non-accidental cause in the first two years, your beneficiary will receive up to 120% of premiums paid instead of the death benefit.

Policy Types Offered:

• Guaranteed Issue Whole Life Insurance

COMPANY HIGHLIGHTS

MoneyGeek Score: 82.8
J.D. Power (out of 1,000): 756
AM Best Rating: A+
NAIC Complaint Index: 0.15

MoneyGeek's Take: Prudential's Veterans' Group Life Insurance (VGLI) policy is the best option for veterans because it offers group term life insurance with no medical exam without exclusions, even for mental health issues.

The Department of Veterans Affairs (VA) offers group term no medical exam life insurance for veterans, administered by Prudential. Veterans are eligible if they had Servicemembers' Group Life Insurance (SGLI), have been released from duty in the last 485 days, Ready Reserves or National Guard duty. Those assigned to Individual Ready Reserves or Inactive National Guard who apply within 485 days are also eligible.

No medical questions or exams are required, and no health issues are excluded, including PTSD and traumatic brain injury (TBI). Veterans can apply for up to $400,000 in coverage, but it cannot exceed the amount of SGLI coverage in place when the separation occurred.

This policy is term life insurance, and rates are based on age and coverage amount at issue. Rates renew every five years, and coverage can be continued for life as long as payments remain current. Veterans with a service-related disability may also qualify for up to $10,000 of lower-cost life insurance. Those interested in this coverage can apply through the VA’s website or their local VA office.

Policy Types Offered:

• Veterans' Group Life Insurance
• Service-Disabled Veterans' Life Insurance