5 Reasons To Buy $500,000 No Exam Life Insurance [Instant Quotes]

Written by Heidi Mertlich

Skipping the medical exam when purchasing life insurance makes all the sense in the world for some of us. In fact, there’s never been a better time to consider a no exam (otherwise known as non med, no physical or simplified issue) policy.

Here’s why – Life insurance carriers realize the thought of a medical exam is cringe-worthy in many instances. They are lowering their prices and expanding coverage amounts. In fact, the cost of no exam life insurance – in many instances – is comparable to fully underwritten (medical exam) policies.

$500,000 of no exam life insurance is a popular option because it provides an ample amount of coverage without the hassle of nurses, needles, and liquid samples.


Table Of Contents

Infographic: 5 Reasons To Buy $500,000 No Exam Life Insurance

1. No Exam Means Less Hassle

2. Riders Make All The Difference If Difficulty Strikes

3. Sample Quotes For $500,000 No Exam Life Insurance

4. Excellent Health Is Not A Prerequisite

5. Your Application Is Quick

Is $500,000 Of No Exam Life Insurance Right For Me?

How To Apply


Infographic: 5 Reasons To Buy $500,000 No Exam Life Insurance

five hundred thousand 500000

*Policy features are subject to change. Availability may vary by state.

1. No Exam Means Less Hassle 

The thought of needles and nurses has given many of us enough anxiety to put off buying life insurance.

There’s good news – you have more options for buying life insurance, without being poked or prodded, than ever before. And, $500,000 in life insurance is now offered by a number of top-rated, no exam life insurance carriers.

No exam life insurance definition – life insurance purchased without a medical examination.

Okay, sounds good. What does the no exam process look like?

Expect a streamlined, straightforward application. While each life insurance carrier is a little different, here’s what you can generally expect:

  1. Phone interview – plan on a phone conversation that lasts around 20 – 30 minutes. You will be asked questions about:
    1. Your medical history (think: history of heart disease, diabetes, cancer, major illness, major surgery, psychiatric health)
    2. The medical history of close family members
    3. Your occupation
    4. Your lifestyle
  2. Database check – the life insurance company will run what is essentially a background check on you. Using public records, they will review your:
    1. Driving record
    2. Pharmacy background
    3. Medical Information Bureau (database of previous insurance applications)
  3. Application decision – you will receive a decision on your application in a short amount of time. Some carriers provide decisions within minutes, while others may take a few days. Usually, you’ll receive one of three possible decisions:
    1. Approved as applied – best case scenario. Your application has been approved.
    2. Further information required – sometimes, the underwriter will need clarifying information on your application. For example, let’s say you have a medical condition (like type 2 diabetes) and additional information is required from your physician.
    3. Declined as applied – your application has not been approved. Not to worry, though. There are always life insurance options.

2. Riders Make All The Difference If Difficulty Strikes

Each life insurance carrier offers different policy riders. While riders are not necessarily top-of-mind when shopping for life insurance, they’re important to understand and scrutinize.

Let’s start with a definition of a life insurance rider: an additional feature added to your life insurance, designed to enhance the benefits of your policy.

Most $500,000 no exam life insurance policies either include, or are offered for an additional cost, a number of beneficial riders.

A breakdown of the most popular riders:

Accelerated Death Benefit

Provides an option to accelerate a portion of the available death benefit and receive a payment(s) if the insured is diagnosed with a covered illness, which may include critical, chronic, and terminal illnesses.

What this means – By accelerating your death benefit, you are eligible to receive a portion of your policy’s amount while you are still living (if you become eligible through illness).

Physician documentation of illness is typically required for benefit to begin.

Why an accelerated death benefit is helpful:

Should you be diagnosed with a qualifying illness, you will have available funds to help cover the often expensive costs associated with treatment and care.

Chronic diseases are responsible for 7 of 10 deaths each year, and treating people with chronic diseases accounts for most of our nation’s health care costs. – Centers for Disease Control and Prevention

A staggering number of Americans will be diagnosed with a costly illness during their lifetime, and an accelerated death benefit can make all the difference financially.

Accidental Death Benefit

An amount paid to the beneficiary, in addition to the standard policy benefit.

What this means – Should death occur as a result of an accident (specifically defined in your policy contract), an additional amount will be paid. Keep in mind that there are exclusions (i.e. acts of war, illegal activity, hazardous hobbies) to what will qualify for the accidental death benefit rider.

Why an accidental death benefit is helpful:

Accidents happen. Usually, a death as a result of a car crash, machinery, falls, accidental poisoning, suffocation and drowning can be covered under this type of rider.

An American dies of accidental injury every four minutes. – CBS News, Why More Americans Are Dying Accidental Deaths

An additional amount of protection, should a tragedy happen, can make all the difference to your beneficiary(s).

Waiver Of Premium Benefit

Should you become seriously ill or disabled, the waiver of premium benefit allows you to maintain your life insurance contract without making your premium payments.

What this means – Often, when a disability or major illness occurs, your employment status is affected and your income decreases. With a waiver of premium rider, you are able to keep your life insurance policy active, and not make premium payments, should you qualify. Keep in mind that you must meet specific requirements to qualify for the waiver of premium to be activated. For example, it’s common for life insurance carriers to require a documented disability for a minimum of 6 months before the waiver of premium is allowed.

Why the waiver of premium is helpful:

It’s incredibly common to have a disability affect your capacity to work. A waiver of premium rider is an excellent solution to protect yourself during your working years.

Three in 10 workers entering the work force today will become disabled before retiring. – Social Security Administration

3. Sample Quotes For $500,000 No Exam Life Insurance

The cost of no exam life insurance for $500,000 is frequently competitive with their medically underwritten counterparts.

While a fully underwritten (medical exam) policy will, in all likelihood, cost at least a little less, avoiding a nurse and needle often makes it well worth it.

Let’s take a closer look at some sample no exam quotes for $500,000 to compare:

$500,000 No Exam Term Life Insurance Quotes For Male 30 - 39 Years Old

Age10 Year Term15 Year Term20 Year Term30 Year Term
30 Year Old$18.27$19.14$21.32$34.28
31 Year Old$18.27$19.14$22.19$35.15
32 Year Old$18.27$19.14$22.19$36.02
33 Year Old$18.27$19.58$22.33$36.89
34 Year Old$18.27$20.01$22.38$38.19
35 Year Old$18.27$20.45$25.91$39.50
36 Year Old$19.71$22.36$26.70$43.37
37 Year Old$21.06$22.40$28.65$46.06
38 Year Old$22.36$22.40$31.18$50.63
39 Year Old$23.50$25.26$33.13$54.21

$500,000 No Exam Term Life Insurance Quotes For Female 30 - 39 Years Old

Age10 Year Term15 Year Term20 Year Term30 Year Term
30 Year Old$13.05$15.66$19.14$28.62
31 Year Old$13.05$15.66$19.14$29.49
32 Year Old$13.05$15.66$19.49$30.36
33 Year Old$13.49$16.10$19.49$31.23
34 Year Old$13.49$16.10$19.49$32.10
35 Year Old$13.92$16.53$21.58$33.41
36 Year Old$14.79$17.92$22.92$36.20
37 Year Old$15.23$18.37$24.21$38.44
38 Year Old$15.68$19.27$25.84$41.22
39 Year Old$16.58$20.52$27.75$43.91

$500,000 No Exam Term Life Insurance Quotes For Male 40 - 49 Years Old

Age10 Year Term15 Year Term20 Year Term30 Year Term
40 Year Old$23.75$27.67$36.92$57.26
41 Year Old$24.34$29.50$39.14$64.07
42 Year Old$25.41$30.97$42.97$70.79
43 Year Old$25.54$33.42$46.32$76.17
44 Year Old$27.56$37.77$51.58$82.89
45 Year Old$29.39$41.93$59.93$90.51
46 Year Old$32.48$45.13$64.93$98.30
47 Year Old$35.40$48.78$70.43$106.14
48 Year Old$38.53$53.35$76.94$116.85
49 Year Old $41.67$59.57$85.80$129.44

$500,000 No Exam Term Life Insurance Quotes For Female 40 - 49 Years Old

Age10 Year Term15 Year Term20 Year Term30 Year Term
40 Year Old$17.70$22.46$29.67$46.51
41 Year Old$19.04$24.34$32.06$50.40
42 Year Old$20.83$26.68$35.41$54.21
43 Year Old$22.59$29.03$38.18$58.16
44 Year Old$25.09$31.85$42.01$63.44
45 Year Old$26.66$33.11$44.98$68.46
46 Year Old$28.59$35.96$48.71$73.84
47 Year Old$30.82$38.27$51.68$80.11
48 Year Old$33.15$41.50$55.51$87.73
49 Year Old $35.40$45.10$59.81$96.33

$500,000 No Exam Term Life Insurance Quotes For Male 50 - 59 Years Old

Age10 Year Term15 Year Term20 Year Term25 Year Term
50 Year Old$45.70$67.62$96.06$124.56
51 Year Old$50.63$72.44$102.04$139.34
52 Year Old$56.01$78.86$111.80$156.37
53 Year Old$61.74$86.51$122.06$177.43
54 Year Old$68.01$96.46$135.00$199.38
55 Year Old$74.56$113.69$157.74$224.47
56 Year Old$81.90$124.24$179.18NA
57 Year Old$90.51$136.76$198.67NA
58 Year Old$99.02$151.38$226.09NA
59 Year Old $109.32$168.08$255.40NA

$500,000 No Exam Term Life Insurance Quotes For Female 50 - 59 Years Old

Age10 Year Term15 Year Term20 Year Term25 Year Term
50 Year Old$38.08$51.08$65.87$94.99
51 Year Old$40.77$52.63$69.06$104.40
52 Year Old$43.91$56.46$72.14$115.15
53 Year Old$47.94$63.03$79.75$128.14
54 Year Old$51.88$69.81$88.27$142.03
55 Year Old$55.78$76.73$97.23$157.71
56 Year Old$59.50$83.52$106.43NA
57 Year Old$62.68$89.78$115.60NA
58 Year Old$65.86$97.61$128.55NA
59 Year Old $71.63$109.10$142.93NA

$500,000 No Exam Term Life Insurance Quotes For Male 60 - 65 Years Old

Age10 Year Term15 Year Term20 Year Term
60 Year Old$127.32$196.29$286.85
61 Year Old$130.38$193.82$441.17
62 Year Old$146.68$198.00$495.31
63 Year Old$164.37$223.53$553.15
64 Year Old$183.40$250.95$614.67
65 Year Old$203.87$466.06$679.90

$500,000 No Exam Term Life Insurance Quotes For Female 60 - 65 Years Old

Age10 Year Term15 Year Term20 Year Term
60 Year Old$83.13$124.24$173.03
61 Year Old$86.94$125.11$298.54
62 Year Old$96.11$130.79$328.67
63 Year Old$106.08$147.49$360.58
64 Year Old$118.15$162.92$394.26
65 Year Old$132.12$291.10$429.72

Keep in mind, the quotes are only examples and are subject to change. They are based on healthy individuals. Your rates may vary and are dependent on a number of things, including:

  • Gender
  • Age
  • Health
  • Tobacco use
  • Occupation
  • Lifestyle

4. Excellent Health Is Not A Prerequisite 

No doubt, excellent health affords you the lowest rates for your life insurance.

Your health doesn’t need to be perfect to qualify for no exam life insurance, however. In fact, life insurance carriers are more lenient in underwriting no exam life insurance than ever before.

Additionally, if it has been a couple years since you have seen a doctor for a check-up, you may be better off applying for a no exam policy.

Here’s why – If you haven’t had blood work completed within the last couple years, it’s possible something may popup during the life insurance exam (think: cholesterol levels, liver panel, triglycerides). An abnormal/elevated result may disqualify you from preferred rates. The no exam application process skips the lab work. 

For someone who may have a few minor health issues, it may actually be ideal to go the no exam route to purchase life insurance. The no exam application process uses brief database checks, rather than invasive medical underwriting, as you know. Health concerns can be red flags during medical underwriting, and sometimes, cause applications to be rated (think: higher premium payments).

Odds are, you have a better chance for approval at ideal rates through no exam – if you experience some health complications.

5. Your Application Is Quick

No exam life insurance applications can be lightning-fast compared to their fully underwritten counterparts. We’re talking potentially minutes versus weeks.

It’s common to need life insurance in a hurry. For example:

  • You realize coverage is crucial and you don’t want to wait
  • SBA (Small Business Administration) loans
  • Divorce settlement
  • Court ordered life insurance

Is $500,000 Of No Exam Life Insurance Right For Me?

A half million dollars of life insurance without a physical exam is routinely purchased for a few reasons:

  1. $500,000 provides a reasonable amount of coverage
  2. You skip the nurses, needles and liquid samples
  3. Your application turnaround time can be minutes instead of weeks

At the end of the day, it’s important to purchase an amount of life insurance you feel comfortable with. We recommend you consider the following as a guideline to help determine how much life insurance makes sense for you:

  1. What are my monetary responsibilities?
    1. Mortgage
    2. Debt (credit card, loans, etc)
    3. Living expenses (food, utilities, bills, etc)
  2. What are my future plans, financially?
    1. Tuition for children
    2. Retirement
    3. Travel
    4. Estate
  3. How much money to I earn annually?
  4. How many years until retirement?
  5. Do my beneficiaries have financial obligations?

Important – Some life insurance is better than no life insurance.

How To Apply

Two things need to happen in order for you to apply for a $500,000 no exam life insurance policy:

  1. Partner with an independent agent.
    • An independent life insurance agent has your best interest in mind. They aren’t held captive to a particular carrier. That way, they can access the top-rated life insurance companies to find the best policy for you.
    • Avoid applying directly with a life insurance company. Let’s say a medical condition shows up on your application. That information could then be available to other life insurance companies, via the Medical Information Bureau, and potentially affect future applications.
  2. Be ready for the application
    • Have your medical, lifestyle, and occupation information readily available.
    • Your application is processed fastest when you can answer all interview questions upfront.

To get started, simply fill out an instant quote, or reach out anytime.

About No Physical Term Life
About No Physical Term Life

We’re an independent life insurance agency that specializes in no exam life insurance. We’re licensed in all 50 states and can help you directly over the phone or even by email if you’d like (just fill out a quote form and you’ll get an email from us).

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