What Is No-Exam Life Insurance?
No-exam life insurance skips the traditional paramedical exam (blood draw, urinalysis, height/weight measurements, EKG) that most fully underwritten policies require. Instead, carriers use one of several alternative underwriting methods to assess risk—usually faster, sometimes more expensive, but increasingly competitive for healthy applicants.
3 Types of No-Exam Life Insurance
1. Accelerated Underwriting (AUW)
Accelerated underwriting uses algorithmic risk assessment—analyzing prescription databases (MIB), MVR reports, credit-based insurance scores, and health questionnaires—to approve healthy applicants instantly or within hours. There's no exam, no blood draw, and coverage amounts can be substantial.
- Coverage available: $25K–$3M+ (varies by carrier and age)
- Typical approval time: minutes to 48 hours
- Premium comparison to fully underwritten: Equal or very close for healthy applicants
- Best for: Healthy applicants under 60 who want fast coverage
2. Simplified Issue
Simplified issue policies require answering health questions (typically 5–20 questions) but no medical exam. Carriers decline based on certain answers but don't dig deeper with labs. Premiums are higher than fully underwritten policies at equivalent health levels.
- Coverage available: $25K–$500K (lower than AUW)
- Approval time: same day to a few days
- Premium comparison: 10–25% higher than comparable fully underwritten
- Best for: Moderate health issues, need for fast coverage, smaller face amounts
3. Guaranteed Issue (GI)
No health questions at all—acceptance is guaranteed for anyone within the eligible age range (typically 45–85). The trade-off: limited coverage, high premiums, and a graded death benefit in the first 2 years.
- Coverage available: $2K–$25K
- Graded death benefit: Returns premiums + 10% interest if death occurs in years 1–2
- Approval time: Immediate
- Best for: Uninsurable applicants who need some coverage for burial expenses
No-Exam vs. Traditional: Cost Comparison ($500K, 20-Year Term, Age 38, Male)
| Policy Type | Monthly Premium | Notes |
|---|---|---|
| Fully underwritten (Preferred) | ~$35–$45 | Requires exam; best rate if healthy |
| Accelerated underwriting (approved) | ~$38–$50 | No exam; often near-identical rate for healthy applicants |
| Simplified issue | ~$55–$75 | No exam; some health questions; higher cost |
| Guaranteed issue ($25K only) | ~$80–$120/mo for $25K | Very high per-dollar cost; last resort only |
Top No-Exam Life Insurance Carriers
| Carrier | Product | Max Coverage | Max Age |
|---|---|---|---|
| Banner Life | Accelerated UW term | $1M+ | 60 |
| Protective Life | Accelerated UW term | $1M+ | 60 |
| Pacific Life | Accelerated UW | $3M | 55 |
| Bestow | Simplified issue term | $1.5M | 60 |
| Haven Life (MassMutual) | Accelerated UW | $3M | 59 |
| Ethos | Simplified issue | $2M | 65 |