John Hancock and Penn Mutual offer the lowest rates in our survey for cheap life insurance without a medical exam at $7 per month for women and $9 per month for men, respectively. These rates reflect $100,000 in 10-year term coverage for 40-year-old nonsmokers with average health.
Cheapest Life Insurance Without Medical Exam (2026)
The cheapest life insurance without a medical exam depends on your situation. Compare no-exam policies, rates and top insurers to get fast coverage with easy approval.
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Updated: March 18, 2026
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Key Takeaways
John Hancock offers the most affordable no-exam life insurance rates for women, starting at $7 per month. Penn Mutual has the cheapest rates for men starting at $9 per month. These rates are based on 10-year term policies with $100,000 coverage.
John Hancock is the cheapest no-exam life insurance provider for young women, with an average monthly premium of $5. The cheapest option for young men is Guardian Life, with 30-year-old men paying around $6 per month.
Fidelity is the cheapest no-exam life insurance company for seniors, with average rates of $93 per month for women and $134 per month for men.
No-exam policies cost more than traditional life insurance because insurers take on greater risk without lab results.
Who Offers the Cheapest Life Insurance Without Medical Exam?
Data filtered by:
Female
| John Hancock | $7 | $81 |
| Guardian Life | $7 | $85 |
| Penn Mutual | $8 | $97 |
| Gerber Life | $13 | $158 |
| Banner Life | $13 | $158 |
| Transamerica | $13 | $158 |
| Pacific Life | $13 | $159 |
| Fidelity | $13 | $160 |
| MassMutual | $13 | $160 |
| Lincoln Financial | $14 | $167 |
| Prudential | $15 | $184 |
| Mutual of Omaha | $16 | $188 |
| Nationwide | $17 | $198 |
| North American | $17 | $209 |
| Ethos | $29 | $343 |
Rates are estimates from MoneyGeek's analysis of major insurers based on a $100,000 term policy for our sample profile. Your actual premium depends on age, gender, coverage amount and health status. Insurers use prescription databases and medical history to assess risk instead of blood tests.
Cheapest for Young Adults
John Hancock is the top provider of cheap life insurance without a medical exam for young women. On average, 30-year-old women pay $5 per month. Guardian Life has the lowest rates for young men, averaging $6 per month. Young adults pay less because insurers view them as lower risk due to fewer health concerns and longer life expectancies. Your premium locks in at application, so buying younger saves money over the policy's lifetime.
Data filtered by:
Female
| John Hancock | $5 | $57 |
| Guardian Life | $5 | $63 |
| Transamerica | $8 | $99 |
| Penn Mutual | $9 | $105 |
| MassMutual | $9 | $109 |
| Fidelity | $10 | $121 |
| Pacific Life | $11 | $127 |
| Gerber Life | $11 | $129 |
| Banner Life | $11 | $129 |
| Lincoln Financial | $11 | $135 |
| Mutual of Omaha | $12 | $142 |
| Prudential | $13 | $153 |
| Nationwide | $14 | $170 |
| North American | $15 | $178 |
| Ethos | $17 | $204 |
Rates shown are estimates based on a $100,000 term policy for 30-year-old nonsmokers. Actual premiums will differ, depending on your profile, coverage needs and insurer.
Cheapest for Seniors
Fidelity has the cheapest rates for seniors, averaging $93 per month for 70-year-old women and $143 for men. Seniors pay more than younger applicants because age increases the chance of health issues, making insurers more likely to pay claims.
Data filtered by:
Female
| Fidelity | $93 | $1,114 |
| Transamerica | $108 | $1,291 |
| New York Life | $131 | $1,576 |
Rates are estimates based on a $100,000 term policy for 70-year-old nonsmokers. Actual premiums will differ, depending on your profile, coverage needs and insurer.
Many no-exam policies cap eligibility at age 60 or 70, limiting options for older applicants. Guaranteed acceptance life insurance often accepts seniors up to age 85 but offers lower coverage amounts at higher premiums than term policies.
Cheapest by Coverage Level and Term Length
Coverage amount and term length affect your monthly premium. A 40-year-old nonsmoker choosing $500,000 in 20-year coverage pays more monthly than someone selecting $100,000 in 10-year coverage. Match your coverage to debts, funeral costs and income replacement needs.
Data filtered by:
10
$1,000,000
Female
| Penn Mutual | $51 | $607 |
| Pacific Life | $51 | $609 |
| Banner Life | $51 | $609 |
| Nationwide | $51 | $614 |
| Prudential | $53 | $641 |
| Transamerica | $55 | $662 |
| Lincoln Financial | $56 | $666 |
| Guardian Life | $61 | $736 |
| John Hancock | $62 | $741 |
| Gerber Life | $70 | $835 |
| MassMutual | $72 | $867 |
| Ethos | $165 | $1,979 |
Rates are estimates based on a term life insurance policy for 40-year-old nonsmokers. Actual premiums will differ, depending on your profile, coverage needs and insurer.
How to Get Cheap Life Insurance Without Medical Exam
No-exam life insurance costs more than traditional policies, but you can keep rates competitive by comparing multiple insurers and knowing which coverage type fits your situation.
Compare Quotes from Multiple Insurers
Each company prices no-exam policies differently based on its risk models and target demographics. Get quotes from at least three providers to identify the lowest premium for your specific age and health profile.
Choose the Right Coverage Amount
Buy only the coverage your family needs to avoid overpaying for unnecessary protection. Calculate your coverage by adding debts, final expenses and income replacement for dependents. You can use MoneyGeek's life insurance calculator for a quick estimate.
Answer Health Questions Honestly
Dishonest answers can void your policy and leave beneficiaries with nothing. Pre-existing conditions don't automatically disqualify you from no-exam coverage, though premiums are higher than for healthier people.
Apply at the Right Time
Your age determines your premium, and rates increase with each birthday. Apply before your next birthday to lock in lower rates.
Maintain Good Health Habits
Nonsmokers pay less than smokers for life insurance. If you quit smoking, wait at least 12 months before applying to qualify for nonsmoker rates.
Consider Simplified Issue or Guaranteed Acceptance
Simplified issue policies require answering health questions but offer higher coverage limits and lower premiums than guaranteed issue. Choose guaranteed issue only if health conditions prevent approval for simplified issue policies.
Average No-Exam Life Insurance Rates
Average monthly premiums for no-exam life insurance vary by age, gender and coverage amount. The table below shows average quotes for different genders, ages, term length and coverage level.
Data filtered by:
10
$1,000,000
Female
No
| 20 | $43 | $515 |
| 30 | $43 | $518 |
| 40 | $66 | $797 |
| 50 | $145 | $1,744 |
| 60 | $374 | $4,486 |
| 70 | $679 | $8,146 |
| 80 | $3,373 | $40,471 |
These averages show quotes based on our analysis of 16 major insurers for people with average health. Your actual premium depends on your health profile, lifestyle, age, gender and chosen insurance company.
Cheap Life Insurance Without Medical Exam: Bottom Line
No-exam life insurance skips blood tests and physical exams. Approval takes days rather than weeks. Premiums are more expensive than traditional policies because you pay for the speed and the reduced scrutiny.
John Hancock and Penn Mutual are the best companies for cheap life insurance without a medical exam for the average buyer. Compare quotes from multiple insurers to find the lowest premium for your age and coverage needs.
Cheap No-Exam Life Insurance: FAQ
We answer common questions about no-medical exam life insurance:
What type of no-exam life insurance is cheapest?
Term life insurance offers the cheapest no-exam rates because coverage expires after the term ends. This type of policy is best for people with temporary needs.
How quickly can I get approved for no-exam life insurance?
Approval happens within minutes to three days for most no-exam policies. Accelerated underwriting provides instant decisions through digital algorithms. Simplified issue takes one to three days.
Our Methodology
Finding affordable life insurance gets harder as you age, especially when health conditions develop. Traditional policies require medical exams that disqualify many people. We analyzed quotes from 16 major insurers to identify which companies offer cheap life insurance without a medical exam.
Baseline profile:
- 40-year-old male
- Nonsmoker
- 5 feet 9 inches tall, 160 pounds
- Average health rating
All premiums reflect this profile unless we note otherwise. We modified the profile to see how rates change by age and gender. We tested multiple term lengths and coverage amounts to show how your coverage needs affect pricing.
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About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. He has analyzed the insurance market for over five years, conducting original research for insurance shoppers. His insights have been featured in CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
He writes about economics and insurance, breaking down complex topics so people know what they're buying.