Since early 2020, a noticeably larger number of consumers have invested in life insurance policies. Also, no medical exam life insurance policies are becoming increasingly popular.
Sometimes, this kind of life insurance can prove relatively expensive. Still, it also has benefits that make it worthwhile for the right policyholders.
Life insurance is an essential product for protecting your family. Most insurers require a medical exam before providing life insurance coverage. For some, however, a medical exam is a barrier to securing a policy.
You may have health issues. Alternatively, you may have entered your Golden Years. Unfortunately, these circumstances may make it impossible to find the right life insurance. Here, however, we’ll talk about 12 policies with no medical exam requirement.
Keep reading to learn more about the top 12 no medical exam life insurance policies of 2021.
12. AAA Guaranteed Issue Whole Life
AAA Guaranteed Issue Whole Life is middle-of-the-road in quality when it comes to life insurance plans. Despite the namesake of the plan, you can still purchase a AAA policy even if you aren’t a member of the organization. Still, you might want to consider AAA solely for final expense coverage.
- AAA members receive a discount on insurance
- Company also sells accident insurance and annuities
AAA offers large term life coverage with no medical exam.
The company’s whole life policies have a low coverage ceiling.
11. AARP Easy Acceptance Life Insurance
AARP Easy Acceptance Life Insurance offers select New York Life insurance policies to its members. The organization advocates for older adults.
- Membership consists of more than 37 million people over 50
- Company does a pretty good job of managing its portfolio
There are fewer than expected annual complaints against the underwriter.
AARP increases its premiums every five years.
10. AIG Guaranteed Issue Whole Life
AIG Guaranteed Issue Whole Life has considerably poor customer service ratings. Yet, the company is one of the largest insurers in the world.
- Serves millions of policyholders
- Available in more than 80 countries
The insurer offers 18 choices of term life insurance, with the longest term being 35 years.
AIG scores below the industry average of performance for insurance providers, according to JD Power.
9. Brighthouse SimplySelect
Brighthouse SimplySelect offers a variety of insurance policies. They also offer SmartCare, a type of hybrid universal life insurance.
- Former subsidiary of MetLife
- Offers SimplySelect for 10 to 30 years
You can convert a Brighthouse term policy into a whole life policy if desired.
The company offers very few riders.
8. Ethos Guaranteed Issue Whole Life
Ethos Guaranteed Issue Whole Life offers online term and whole life insurance policies. The company’s coverage ranges from $50,000 to $1,500,000.
- Relatively new insurer, launched in 2016
- Company uses background data to calculate eligibility
According to the company, you can complete the application process in as little as 10 minutes.
Ethos Guaranteed Issue Whole Life offers no riders, except for an accelerated death benefit.
7. Gerber Guaranteed Life Insurance
Gerber is well known for its children’s insurance policies. If you’re looking for a policy to build savings for a minor, you may want to look at a 529 college savings plan instead. However, the company also sells small adult term and whole life insurance policies.
- Relatively easy to get a Gerber Life policy
- May require medical exam for more than $100,000 of coverage if you’re over 51
Gerber is a well-known company.
State insurance officials field an unusually high number of annual complaints for an insurer the size of Gerber.
6. Haven Life Haven Simple
Haven Life is another online life insurance company. They offer the Haven Simple insurance policy.
The insurer accepts applicants up to 59 years old. However, its application process is a bit longer compared to its digital peers, coming in at 25 minutes.
Eligible consumers can apply for up to $1 million in immediate coverage. Also, you can convert Haven Life policies into whole life coverage.
- Company doesn’t sell permanent life insurance
- Fast application evaluation using artificial intelligence
The company receives fewer than expected consumer complaints for an insurer of its size.
Policyholders cannot convert term policies to whole life coverage.
5. John Hancock Simple Term
John Hancock Simple Term is a guaranteed issue policy. The insurer offers the Vitality program, which is unique among insurers.
The program encourages policyholders to maintain healthy habits. These incentives might include Amazon discounts, free subscriptions, and savings on fresh produce.
- Rewards health-conscious policyholders with incentives
- Offers a variety of term, permanent and guaranteed insurance
John Hancock’s healthy habits reward is a big boon to those who take extra measures to boost their health.
The company performs poorly in customer service.
4. Mutual of Omaha Guaranteed Plus Whole Life
Mutual of Omaha Guaranteed Plus Whole Life is different from other companies in that it’s owned by the policyholders. Profits from premiums and investments get distributed to policyholders in the form of dividends or a reduction in premiums.
- Offers banking, mutual funds and insurance to individuals, businesses and groups
- Well-established company, launched in 1909
Mutual of Omaha ranks well among insurers. It’s in the top 5 of 23 ranked insurance companies on the market.
The company receives the typical amount of consumer complaints.
3. Nationwide YourLife Simplified
Nationwide YourLife Simplified offers term, whole, universal and variable life insurance. The insurer also offers business insurance and other types of policies.
- Differing availability of its policies in various states
- Premiums stay the same for length of policy
Nationwide ranks third in JD Power’s consumer satisfaction study.
If you’re a technophile, you may have trouble accessing billing and payment information using your smartphone or other mobile devices.
2. State Farm Final Expense Policy
State Farm is well-known for its auto and home insurance products. However, the company also sells a wide range of life insurance products through local agents.
- Company ranks first out of 23 insurers compared by JD Power
- Permanent insurance is also available through the company
The company receives fewer than expected complaints each year for a company of its size.
State Farm life insurance policies are not available in Massachusetts.
1. USAA Simplified Whole Life Insurance
USAA offers insurance products that are geared toward active military personnel, veterans and their family members. However, the company’s policies are available to everyone.
- Some USAA policies offer free perks
- Consumers can add more coverage after major life events
USAA offers a $25,000 severe injury payout.
The insurer’s policies are not available in New York or Montana.
Is No Medical Exam Life Insurance for You?
In a way, a life insurance policy is like a high-stakes wager. Most insurers won’t enter a coverage agreement without a good understanding of your overall health for this reason. In other words, they typically require a basic medical exam for traditional life insurance coverage.
A no exam life insurance policy might serve your needs if you can’t qualify for traditional life insurance. You may also simply enjoy the convenience of not having to take an exam.
No Exam Life Insurance: Great Coverage, Less Hassle
More than half of all adults have a life insurance policy. If you’re not familiar with applying for traditional life insurance, underwriters require a few pieces of information. This information might include your:
• Blood pressure
• Blood sample
• Urine sample
• Other health-related information
Insurance is an industry that revolves around probabilities. Without a medical exam, insurers expose themselves to increased risk. Life insurance rates for a no medical exam policy are usually higher for this reason.
Still, term life insurance premiums are relatively low. As a result, you might find that a good no-medical exam life insurance policy serves your needs well.
The low price point of no medical exam life insurance works great for younger people. Also, no medical exam life insurance may serve anyone well who needs a policy with lower limits than they might secure if they were to take a medical exam.
Going for It
Let’s assume that you’re in excellent health. In that case, you might find that standard term and whole life insurance will serve your needs better compared to a no-medical exam policy.
Adults typically can’t find enough time in the day. Getting a medical exam is a hassle.
Still, a quality whole life policy is something that you may want to take the time to pursue if it’s in your best interest. With a medically underwritten policy, you can qualify for rates and terms based on your health and life expectancy.
If you’re younger and in good health, you may find a no-medical exam policy without paying higher premiums compared to a standard policy. Alternatively, if you’re an older adult, you may simply want a no-medical exam policy to cover your final expenses.
It’s not always easy figuring out the best insurance policy for your needs. Fortunately, there’s help.
The Easy Way to Find the Best Insurance Policies
Now you know more about the top 12 no medical exam life insurance policies of 2021. For some people, insurance is a must-have.
It’s not just about the money. It’s also about peace of mind.
Top Whole Life can help you find the right policy to suit your needs at a price that works for you. Whether you need a large or small insurance policy, we have options for everyone.
Contact Top Whole Life today at (855) 946-5353 or connect with us online for a fast, free quote.