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Should I Consider Getting No Medical Exam Life Insurance?

life-insuranceThis is a post from DW at No Exam Life Insurance Guide. You might also know him as My Money Design. Enjoy!

I have a confession: I hate needles. I hate having my blood drawn. I don’t know what it is, but the less I have to go to the doctor, the better.
So is it any wonder that I would be so apprehensive about getting “poked” for something as simple as getting life insurance?
As silly as that may sound, I’m sure you could cite this as one of the main reasons why many adults do not obtain life insurance on their own. And that’s a tragedy. Life insurance inherently is supposed to help and protect us against financial disaster in case the worst happens.
So how come something that is supposed to be good for us hurts so much to get? Fortunately the industry has some smart alternatives to help alleviate this fear – and it’s called a no medical exam life insurance policy.

What Is No Medical Exam Life Insurance?

You have probably wondered at some point if it’s possible to obtain life insurance without having to go through a medical exam. Perhaps you just need some life insurance really quickly, or maybe you just hate going to the doctor. Then again, maybe you know that you have a medical condition that would keep you from getting life insurance. These are all the reasons why a no medical exam life insurance can be useful.
While it is true that being able to purchase life insurance without having to go through a medical examination is much more convenient, you should also know that it is going to be more expensive than traditional insurance. The reason insurance companies charge so much more for these types of policies is because they feel like not knowing about your medical history means they’re taking on a much greater risk. By charging you a higher premium, they are able to cover those risks.
Something you may not know is that the life insurance policies that don’t require a medical exam could possibly be three times that of a traditional policy. However, there are some things that you can do in order to obtain coverage without having to clean out your wallet every month.

Other Types of Life Insurance that Don’t Require a Medical Exam:

Most major insurance carriers offer two very popular types of policies that do not require a medical examination. Those are: guaranteed issue life insurance and simplified issue life insurance.

Let’s take a look at the requirements for each of these types of insurance.

1) Guaranteed Issue Life Insurance:

This is also sometimes called Guaranteed Acceptance Life Insurance, and is one of the most expensive types of insurance that you will find.
The great thing about it is that you do not need to submit to a medical exam and they will not review your medical history. Typically all you have to do is answer around 12 questions in order to get one of these policies. One carrier only asks four:
a) Do you smoke or use products containing tobacco?
b) Are you currently in the hospital or a long term care facility?
c) Do you have HIV/AIDS?
d) Do you have a terminal diagnosis- less than 2 years to live?
These types of life insurance policies have what is known as a “graded death benefit.” This means that if the individual were to pass away within the first 2-3 years of getting the policy, the beneficiaries only receive the premium plus interest. So, as you can tell, a guaranteed issue life insurance policy is definitely not the most affordable option.

2) Simplified Issue Life Insurance:

This is one of the most common types of no exam term life insurance policies that don’t require a medical examination. However, though you can avoid the exam, they will ask you some questions related to your medical history and may pull your health records. If the company isn’t satisfied with your medical records or answers to their questions, you may not be approved for coverage.

Getting a No Medical Exam Policy without Paying Too Much:

If you know you’re in good health, but you need a life insurance policy fast, the best way to do it is to apply for a traditional and a simplified issue policy. The simplified issue policy will come through pretty quick and then, once your traditional, and cheaper, policy is approved, you can cancel the simplified and keep the traditional.

However, you can’t do this aimlessly. Insurance companies can tell when you apply for and cancel your policies. If you do this too many times, you’ll be canceled and no one will want to issue you an insurance policy. It is a great way to get insurance quickly while you’re waiting for your traditional policy.

Who Should Get No Medical Exam Policies?

If you can wait for four to six weeks for your policy, you should definitely avoid the no medical exam policies. However, if you’re desperate for coverage right away, simplified issue life insurance is the best option.

Maybe you need to obtain a policy so that you can secure a loan for your business, or to honor a divorce decree, or an array of other possibilities and you simply do not want to fool with a visit to the doctor for whatever reason. For those that need life insurance immediately, there are some companies that can have your policy ready within 48 hours. Then, there are others that take 7 to 10 days. In these cases, no medical exam life insurance makes perfect sense.

This post was a contribution from the blogger DW and his website No Exam Life Insurance Guide. DW believes that getting life insurance should be a pain-free and affordable process. NELIG seeks to explore all the alternatives to traditional life insurance plans.

Images courtesy of FreeDigitalPhotos.net

About Kim Parr

Kim Parr is a private practice optometrist, freelance writer, and personal financial blogger. You can follow her journey to 20/20 financial vision at Eyes on the Dollar.


  1. Or you could just say to hell with life insurance and let your dependents foot the bill. Just kidding, of course. But I hate giving money to blood sucking insurance companies for any reason.

  2. I’ve considered no medical exam life insurance simply because I don’t think it is any of their business. My opinion is that my health status is a personal thing to be shared with doctor and my husband and no one else.

    • That is a really good personal reason (and something I had not considered). Though it would cost more, you would protect the integrity of your privacy.

  3. Didn’t know something like this existed. Good to know. I hate needles as well, but Not enough to having to pay a higher premium.

  4. It’s got to be a balance. If you can deal with the medical exams and handle the needles, then pay less. If not, then at least you still have an option.

  5. I plan on getting insurance and I just assumed I had to get some sort of medical exam. Thanks for sharing your insights on the topic. Life insurance WITH an exam sounds like the right route for me.

  6. The doctors office makes me nervous, so the thought of even having to go in there sends my blood pressure through the roof. I think though, I would risk it, so I would not end up paying the pricey premium.

  7. I think if I was much older, and if I had the money, I would get the no medical life insurance. But as of right now, I carry two policies, but I am always looking to add to it.

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