Many prefer to buy a life insurance policy without having to go through the stress of physical and medical examinations. They prefer life insurance companies that don’t require a medical exam.
However, not all insurance companies will offer insurance policies without potential clients having to go through medical examinations.
There are a handful of insurance policies out there so it’s usually difficult to find insurance companies that skip the process of medical examinations before accepting clients to their life insurance policies. A medical examination is required for obvious reasons before accepting clients to life insurance policies. However, many people prefer to skip the medical exam.
If you fall within the class of people who prefer to skip the medical exam before buying a life insurance plan, then you certainly would find the article worthwhile.
Our team has done a painstaking search to come up with the list of 10 life insurance companies that don’t require a medical exam.
But before we list the companies, I would like to walk you through some details about insurance policies. Do you know how much it costs to buy life insurance? What is the importance of life insurance? Who should get life insurance? These are some questions you must ask before buying a life insurance.
Reading this article indicates you are probably knowledgeable about life insurance and some policies involved but for the sake of those who know little on nothing about life insurance, I think it helps to describe what life insurance means.
Life insurance is simply a contract between a company and a client, called the insurer or assurer which allows the company to pay the clients an agreed amount of money upon the death of the client or after a long period of time. To have such insurance in place, the clients must meet the terms of service of the companies and one such term is medical examination.
This is how it works, like other insurance policies such as car insurance or home insurance, life insurance requires you to pay certain amount of money to the company on a monthly basis so that these insurance companies pay your family members or any beneficiary of your chosen at the sad event of your death.
No one knows when death would come, so to ensure your family lead a decent life in the sad event of death, people buy all sorts of insurance policies and this is the best gesture.
When you first apply for life insurance, some company may require you to meet an agent and complete a medical exam as part of its standard underwriting process. Afterwards, the insurer will determine your eligibility for coverage and then determine premiums (how much you pay each year for insurance).
The medical examination is done so that the company learns if you have some underlying health issues such as heart conditions, diabetes mellitus, HIV, and potential substance abuse. To carry out the medical exam, the company would request the following from you – Urine/blood sample, Weight, Height, Pulse rate, Blood pressure, Medical and family history.
In addition to the requirements above, some insurance companies would require you under some physical stress test when you above a certain age. The test may include, treadmill stress test, electrocardiogram, jogging some distance and other physical tests.
Life insurance companies that don’t require a medical exam
Can I have life insurance without a medical exam? So many people ask this question given the difficulty that comes with finding life insurance companies that don’t require a medical exam, nonetheless, the answer is a resounding yes. You could find some insurance companies that don’t require a medical exam before accepting you into their program as we shall reveal shortly.
However, these insurance companies would require you to complete some basic health questionnaire to learn about your medical history. This is very important and you must ensure you provide accurate information about you to avoid litigations.
Life insurance companies that don’t require a medical exam have some and pros and cons, as we revealed below, but the major reason people opt for this option is because of the smooth process involved. It doesn’t put you through the hassle of going through exams and learning about a potential underlying health condition.
What are the Pros and Cons of Life Insurance without Medical Exam?
There are a handful of advantages and disadvantages of life insurance without medical exam as highlighted below;
Pros
- The option of life insurance without medical test saves you a lot of time and some cases, they may do the application over a phone while speaking with an insurance agent
- You don’t have to go through some medical stress like having a syringe stuck in your body while trying to your extract your blood sample for test
- The application is mostly fast within minutes or days especially for the young
Cons
- The insurance company may raise your premium rates down the road since they are starting off with limited knowledge of your medical condition.
- This type of insurance usually limits coverage to smaller amounts (often $25,000 or less), which won’t work if you’re seeking a higher amount of insurance coverage.
- You will not be eligible for the full death benefit (also known as a graded death benefit) for a few years after the policy takes effect.
List of Life insurance companies that don’t require a medical exam
#1. Fabric
Fabric is one of the best insurance companies out there for many reasons. The company has been around for long and is known to offer excellent coverage. Fabric is best known as a family insurance company. It has life insurance policies that benefits families. The company offers a coverage that ranges from $100,000 to $5,000,000.
The normally accept clients within the ages 25 and 50. Fabric insures their clients who don’t want to undergo medical test. If you prefer not to undergo the hassle of medical test, then you should consider buying a life insurance from fabric.
Some Sample quote on the company’s website reads the following;
- Coverage amount: 500,000
- Gender: Male
- Age: 30s
- Type of insurance: Term life insurance
- Years of coverage: 20
- Monthly premium costs: $28.74
To learn more about the insurance company, visit the official website www.fabric.com
#2. Bestow
Bestow is another insurance company to consider if you are looking for a life insurance without medical exam. With bestow, you don’t need to visit the company in person to register. You could sign up online after speaking a customer representative to guide you through the company’s terms of service.
Bestow offers a smooth and speedy registration online, with flexible cancellation policies and the coverage could be as high as a million dollar depending on the life insurance plan you subscribe.
A visit to the company’s site revealed the following sample quote
- Coverage amount: $500,000
- Gender: Male
- Age: 30s
- Type of insurance: Term life insurance
- Years of coverage: 20
- Monthly premium costs: $29.60
#3. Heaven Life
Heaven life has a long history of excellent services in the business of insurance. The company offers coverage to life and other valuables like cars and homes. Heaven insurance has branches across the US with thousands to staffs working so hard to meet the demands of clients.
The company has some standout features and delivers coverage up to a million dollar. With heaven life, you don’t need to go through medical examination before registering for life insurance.
Sample Quote from the company revealed the following;
- Coverage amount: $500,000
- Gender: Male
- Age: 30s
- Type of insurance: Term life insurance
- Years of coverage: 20
- Monthly premium costs: Between $24.63 and $51.33 per month
#4. LeapLife
Leaplife is not a direct insurance company which means they do not offer insurance plans directly. What it does is to connect you with insurance companies offering the plans you want. Leaplife partners with several insurance companies so that when a client signs up by filling an online application, they look at your details and provide you with insurance companies that best suits your information.
The company has around for years and enjoys massive positive ratings from users. You could visit the site to learn more before signing up. A quick look at the company’s website revealed the following;
Sample Quote;
- Coverage amount: $500,000
- Gender: Male
- Age: 30s
- Type of insurance: Term life insurance
- Years in coverage: 20
- Monthly premium costs: $22.76
#5. Ethos
Ethos is best known for its excellent customer representative. With this insurance company, you could sign up for life insurance regardless of your location. You don’t have to visit the company to buy an insurance plan. The company has customer representatives that are willing to chat with you and walk you through the best insurance plan for you.
But the company does not have a jurisdiction within New York. If you live in New York, then you might need to consider other insurance companies highlighted on this list
Sample quote from the company revealed the following;
- Coverage amount: $500,000
- Gender: Male
- Age: 30s
- Type of insurance: Term life insurance
- Years of coverage: 20
- Monthly premium costs: Between $36 and $61 per month
#6. Assurity Life Insurance
This insurance company offers a life insurance plan does not require clients to undergo medical exam. The application process is easy and seamless and it could be done online. Approval period is usually within three days.
Sample quote from the company’s website reads the following;
- Coverage amount: $500,000
- Gender: Male
- Age: 30s
- Type of insurance: Term life insurance
- Years of coverage: 20
- Monthly premium costs: $30.89
#7. John Hancock
Having a medical insurance without medical exam doesn’t come that easy with most companies. With such companies, you would find it difficult to have a coverage of $300,000. But with John Hancock insurance company, you could have a coverage of up to 1 million dollars without medical exam.
Also, the approval period of is fast, usually before 72 hours. In addition, JH insurance company offers a lot of benefits program to help you stay healthy. With JH, there is always a customer representative who is available to answer any question about the insurance policies.
A quick look at the company’s site revealed the following sample quote;
- Coverage amount: $500,000
- Gender: Male
- Age: 30s
- Type of insurance: Term life insurance
- Years of coverage: 20
- Monthly premium costs: $34.65
#8. Gerber
Gerber is a popular insurance company that has been around for years. The company offers coverage for all sorts of valuables such as car and house. Also, Gerber is of the life insurance companies that don’t require a medical exam before accepting clients into their program, although you would be required to complete some health questionnaires.
The company offers multiple insurance plans depending on your choice. it offers term life and whole life insurance policies. A look into the company’s website revealed the following sample quote;
- Coverage amount: $300,000
- Gender: Male
- Age: 30s
- Type of insurance: Term life insurance
- Years of coverage: 20
- Monthly premium costs: $67
#9. Principal
Principal offers a fast approval process with regards to registration for insurance and the company allows you to sign up without medical exam. The company has been in the business of insurance for more than a hundred years which makes it a trusted company to consider. Principal has license to operate in almost all states in the US. The company boasts of several standout features. To learn more about the company, you may need to visit the official website.
A sample quote obtained from the site revealed the following;
- Coverage amount: $500,000
- Gender: Male
- Age: 30s
- Type of insurance: Term life insurance
- Years of coverage: 20
- Monthly premium costs: $23
#10. TransAmerica
TransAmerica concludes our list of life insurance companies that don’t require a medical exam. Visit the company’s website to learn about their life insurance policies.
Sample quote from their site revealed the following;
- Coverage amount: $500,000
- Gender: Male
- Age: 30s
- Type of insurance: Term life insurance
- Years in coverage: 20
- Monthly premium costs: $21.07
Final Thought
Life insurance is very important for obvious reasons. We don’t know what the future holds for us so it is extremely important for us to keep our loved ones happen in the case of any eventuality.
