No Medical Exam Life Insurance [Find out the Top 5 Pros and Cons]

Advantages of No Medical Exam Life Insurance

high risk life insuranceThere are several reasons why opting for a no medical exam is advantageous.  Life insurance isn’t a one size fits all product. Depending on your specific situation, it may or may not be an advantageous purchase. Here are some of the more common reasons for choosing life insurance without a medical exam.

1. Get Life Insurance In Spite of Health Issues

life insurance with health issuesA serious health complication is prohibitive and costly when it comes to life insurance. It is one of the biggest reasons so many people choose life insurance without physical exams.

Even so, you must provide honest answers to questions about your health to maintain your coverage. If you tell a lie on the application, the insurance company may deny a claim filed by your beneficiary.

2. Get Life Insurance Quickly

The approval time for traditional life insurance policies is a deterrent for some people. The turnaround time is a lot shorter for no medical exam policies. With some companies, the policy will be effective within 24-48 hours after you submit the application. Some are even faster!

A fast life insurance approval offers some benefits.

The first is the assurance that you’re covered if something unexpected happens. Life insurance safeguards your loved ones if something happens to you, and it’s important to have that protection in place before the worst happens.

get life insurance fastYou may need to set up a quick coverage before taking a vacation overseas or to use as collateral for a business loan. Once you’re approved for the no exam life insurance, you’ll have the collateral for your business loan.

3. Fear of Needles

Some life insurance buyers hate needles. Just the thought of them makes them nervous and upset. A fully underwritten life insurance policy with a medical exam requires a blood sample.

 The examiner will have to draw a little blood just like at your annual physical with your primary physician.

A non medical exam life insurance policy does not require blood to be drawn. This is a great option for those with a fear of needles.

Disadvantages of life insurance with no medical exam 

 There are some disadvantages of life insurance without medical exams, which is the reason it’s not as popular as traditional term life policies. We’ll explore these below.

1. No Exam Life Insurance Costs More


You’ll need to do a medical exam before you’re issued a traditional permanent or term life insurance policy. The results of the exam are sent to the insurance company so they can determine the cost of your payments – if they decide to approve your application.

no exam life insurance costIn essence, the insurance company calculates their risk, and since a review of your medical exam reduces their risks they charge less for traditional policies. Therefore, if cost is your primary concern, then you’re better off choosing a policy that requires a medical exam.

2. Lower Life Insurance Coverage Amounts

A no medical exam policy is fast and easy, but there are limits on the amount of coverage offered. The total coverage varies from one company to another, but you can expect coverage in the region of $100,000 to $500,000. However, there have been some recent changes where companies are increasing the maximum face amounts. In fact, you can even get a $1 million life insurance policy without an exam. 

The amount of coverage may be a bit more if the life insurance is tied to your mortgage. To increase your coverage, you can take out policies from several providers or apply for a traditional life insurance policy where you’re required to take your medical exam.

Should You Get life insurance without health exam?

No exam life insurance policies are ideal for many shoppers. Anyone from young adults who do not need a lot of coverage, to anyone who wants a fast and convenient policy. The premiums for traditional life insurance for younger shoppers are about the same for no medical exam policies, so it makes sense for them to get their policy as fast and easy as possible without the exam.

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