No-exam life insurance rates average $50 per month for women and $63 per month for men for a 40-year-old nonsmoker with $500,000 in coverage on a 20-year term. Compare 2026 rates by age, coverage and provider.
Updated: April 25, 2026
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Based on MoneyGeek's analysis, the average no-exam life insurance rate is $50 per month per month for women and $63 per month for men for a 40-year-old nonsmoker with average health seeking $500,000 in coverage on a 20-year term.
Smoking adds $112 per month for women and $151 per month for men on a 20-year term at the baseline profile, far larger than the poor health surcharge of $6 per month for women and $8 per month for men, making tobacco use the single largest rate factor.
Banner Life and Transamerica are the cheapest no-exam providers, each at $41 per month for women and $50 per month for men at the same baseline profile.
No-exam policies cost slightly more than fully underwritten term life for healthy 40-year-olds, since insurers use third-party health data in place of a paramedical exam.
No-exam life insurance for a 40-year-old nonsmoker with average health at $500,000 coverage on a 20-year term averages $50 per month for women and $63 per month for men, or $595 and $756 annually.
Rather than scheduling a medical exam, insurers check prescription databases, Medical Information Bureau (MIB) records and driving history, which is why no-exam rates may be slightly higher than fully underwritten term life for some profiles.
10-Year | $37 | $442 | $45 | $540 |
15-Year | $44 | $531 | $55 | $662 |
20-Year | $50 | $595 | $63 | $756 |
25-Year | $57 | $678 | $73 | $879 |
30-Year | $93 | $1,120 | $117 | $1,402 |
35-Year | $83 | $993 | $102 | $1,227 |
40-Year | $94 | $1,128 | $116 | $1,393 |
Rates are averages for 40-year-old nonsmokers with average health at $500,000 coverage. Annual rates are derived from unrounded monthly premiums and then rounded to the nearest whole dollar for display. Rates shown are estimates based on our analysis and will vary by individual circumstances and insurer.
Age is the biggest driver of no-exam premiums. An 18-year-old nonsmoker pays $30 per month (women) and $41 per month (men) for a $500,000, 20-year no-exam term policy. A 70-year-old pays $983 per month (women) and $1,299 per month (men) for the same coverage.
Rates rise at each age milestone as insurers price in higher mortality risk, so buying a policy earlier locks in a lower premium for the full term.
| 18 | $30 | $358 |
| 20 | $33 | $398 |
| 30 | $33 | $396 |
| 40 | $50 | $595 |
| 50 | $112 | $1,339 |
| 60 | $296 | $3,554 |
| 70 | $983 | $11,792 |
Rates are averages for nonsmokers with average health at $500,000 coverage on a 20-year term. Annual rates are derived from unrounded monthly premiums before display rounding. Rates shown are estimates based on our analysis and will vary by individual circumstances and insurer.
In Montana, gender can't be used as a rating factor, so men and women pay identical rates.
No-exam coverage costs more per month as the face value rises. A 40-year-old nonsmoking woman with average health pays $16 per month for $100,000 and $91 per month for $1,000,000 on a 20-year no-exam term. Men with the same profile pay $20 per month at $100,000 and $116 per month at $1,000,000.
| $100,000 | $16 | $196 |
| $250,000 | $30 | $355 |
| $500,000 | $50 | $595 |
| $750,000 | $71 | $851 |
| $1,000,000 | $91 | $1,090 |
Rates are averages for 40-year-old nonsmokers with average health on a 20-year term. Rates shown are estimates based on our analysis and will vary by individual circumstances and insurer.
Smokers pay more than nonsmokers. A 40-year-old smoker with average health pays $162 per month for women and $214 per month for men at $500,000 on a 20-year no-exam term policy.
Rates climb with term length, reaching $283 per month for women and $374 per month for men at 30 years.
| 10 | $116 | $1,388 |
| 15 | $142 | $1,707 |
| 20 | $162 | $1,947 |
| 25 | $184 | $2,204 |
| 30 | $283 | $3,400 |
| 35 | $249 | $2,992 |
| 40 | $283 | $3,399 |
Rates are averages for 40-year-old applicants with average health at $500,000 coverage. Rates shown are estimates based on our analysis and will vary by individual circumstances and insurer.
A 40-year-old nonsmoker with poor health pays $56 per month for women and $71 per month for men at $500,000 on a 20-year no-exam term policy. Rates rise on longer terms, reaching $103 per month for women and $134 per month for men at 40 years.
Common conditions that produce a poor health rating include controlled type 2 diabetes, elevated BMI or treated high blood pressure with multiple medications. People with more serious or uncontrolled conditions may be denied life insurance outright or offered a guaranteed issue policy instead.
| 10 | $41 | $494 |
| 15 | $49 | $594 |
| 20 | $56 | $670 |
| 25 | $62 | $746 |
| 30 | $102 | $1,226 |
| 35 | $90 | $1,084 |
| 40 | $103 | $1,231 |
Rates are averages for 40-year-old nonsmokers at $500,000 coverage with poor health. Rates shown are estimates based on our analysis and will vary by individual circumstances and insurer.
Banner Life and Transamerica are the cheapest no-exam life insurance providers in MoneyGeek's 2026 analysis, each at $41 per month for women and $50 per month for men for a 40-year-old nonsmoker with average health at $500,000 on a 20-year term.
Each insurer runs its own accelerated underwriting model and pulls different third-party health data, so the same person can receive different quotes across carriers.
| Banner Life | $41 | $488 |
| Transamerica | $41 | $488 |
| Penn Mutual | $42 | $501 |
| Pacific Life | $42 | $503 |
| Nationwide | $45 | $541 |
| Lincoln Financial | $46 | $555 |
| Prudential | $51 | $606 |
| Guardian Life | $52 | $623 |
| Ethos | $54 | $649 |
| John Hancock | $55 | $665 |
| Gerber Life | $59 | $705 |
| MassMutual | $59 | $706 |
| North American | $59 | $709 |
Rates shown are for 40-year-old nonsmokers with average health at $500,000 coverage on a 20-year term. Annual figures are derived from unrounded monthly premiums before display rounding. Rates shown are estimates based on our analysis and will vary by individual circumstances and insurer.
Insurers weigh six factors to set your no-exam life policy premium: age, health, smoking status, coverage amount, term length and provider. Age carries the most weight overall, but tobacco use adds the single largest dollar surcharge of any individual factor.
Older people pay more because they represent a higher mortality risk. Buying a policy in your 30s or 40s locks in a lower rate for the full term than waiting until your 50s or 60s.
Your medical history, current conditions and prescription medications affect your rating class. Poor health adds to your base premium, while excellent health can qualify you for the lowest available rates.
Tobacco use increases no-exam premiums. Most insurers require 12 consecutive months tobacco-free before reclassifying you as a nonsmoker.
Higher death benefits cost more per month.
Longer term lengths lock in your rate for more years but carry a higher monthly cost.
Each insurer runs its own accelerated underwriting model. The same person can receive different quotes across carriers, so comparing multiple providers before you apply is worth the effort.
Most no-exam life insurance policies cap coverage at $1 million or less. Simplified issue products, which rely on health questions rather than a medical review, often top out at $500,000. Accelerated underwriting programs at major carriers can extend no-exam approvals up to $1.5 million for healthy people, but coverage above that threshold usually requires a full medical exam. If you need more than $1 million in coverage, expect to go through traditional underwriting.
Shopping smart before you apply can save hundreds of dollars per year on a no-exam policy.
No-exam rates for the same profile vary by provider alone. Start with MoneyGeek's guide to the best no-exam life insurance companies.
Rates rise at every age milestone. The earlier you lock in a rate, the lower your premium for the full term.
No-exam underwriting still involves scrutiny. Insurers pull MIB records, prescription drug histories and motor vehicle reports. Inaccurate disclosures can result in claim denial or full policy rescission.
Use a life insurance calculator to match your coverage amount to your actual income replacement, debt and dependent care obligations.
Most insurers need 12 consecutive tobacco-free months before reclassifying you as a nonsmoker. Plan the timing before submitting an application.
For most healthy people, no-exam life insurance costs nearly the same as a fully underwritten policy, with little premium penalty for skipping the paramedical exam.
Age and tobacco use are the two factors that matter most. Smokers pay more than triple the nonsmoker rate, and every year of delay locks in a higher premium.
Shop at least three carriers before committing, since provider choice alone can swing your annual cost by $200 or more.
The national average is $50 per month for women and $63 per month for men for a 40-year-old nonsmoker with average health at $500,000 coverage on a 20-year no-exam term policy. Your rate will vary based on age, health, smoking status, coverage amount, term length and provider.
Banner Life and Transamerica is the cheapest no-exam provider in MoneyGeek's 2026 analysis, at $41 per month for women and $50 per month for men for a 40-year-old nonsmoker with average health at $500,000 on a 20-year term. Transamerica matches those rates to the nearest dollar.
Yes. Smoking more than triples the base nonsmoker rate for a 40-year-old with average health on a 20-year, $500,000 no-exam term policy. Most insurers require at least 12 consecutive months tobacco-free before reclassifying a person as a nonsmoker.
No-exam life insurance rates vary across age, health, smoking status and coverage amount. MoneyGeek collected quotes across multiple profiles to show how insurers price no-exam policies for different demographics.
Our baseline profile is a 40-year-old nonsmoker with average health seeking $500,000 in coverage on a 20-year term. All premiums reflect this profile unless noted. To test how rates shift, we adjusted three underwriting factors: smoking status (smoker vs. nonsmoker), health rating (average vs. poor) and coverage amount. Quotes were then analyzed to project rate changes by age, coverage level, health classification and gender.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty (P&C) Insurance Producer in Connecticut, is MoneyGeek's resident insurance expert. He has analyzed the insurance market for almost a decade, first with LendingTree and now with MoneyGeek, conducting original research on hundreds of insurance companies and millions of insurance rates for insurance shoppers.
He writes about economics and insurance on MoneyGeek, breaking down complex topics so people can have confidence in their purchase. Like all MoneyGeek analysts, Mark collects and analyzes independent cost and consumer experience data on insurance companies to provide objective recommendations in our content that are independent of any of MoneyGeek's insurance company partnerships.
His insights — on products ranging from car, home and renters insurance to health and life insurance — have been featured in The Washington Post, The New York Times and NPR among others.
Mark holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He started his career working in financial risk management at State Street before transitioning to analysis of the personal insurance market. He's also a five-time Jeopardy champion!
