$25,000 No Exam Life Insurance – 7 Surprising Facts [Instant Quotes]

Written by Heidi Mertlich

Math (and common sense) tells us the shortest distance between any two points is a straight line.

If you want to purchase life insurance and are feeling overwhelmed, think about it like a mathematician.  Point A equals no life insurance coverage. Point B equals life insurance protection for your loved ones.

The straight line equals purchasing no exam life insurance.

twenty five thousand 25000

$25,000 of no exam life insurance is purchased all the time to financially protect ones. The process of purchasing no exam life insurance is simple, just like a straight line. It’s the fastest and easiest way to know your loved ones are covered.

It’s helpful to understand the roadmap between points A and B. There are 7 facts about $25,000 of no exam life insurance you need to know before making a purchase.


Table Of Contents

  1. No Exam
  2. $25,000 Of Life Insurance
  3. Infographic
  4. Apply

What Is No Exam Life Insurance?

No exam (also known as non med and no physical) life insurance is life insurance issued without the medical examination of the applicant.

No exam life insurance is an excellent option for many.

Here’s why:

  • The cost of no exam life insurance is now highly competitive with medically underwritten life insurance in many instances
  • You can often secure life insurance quickly
  • You skip the hassle of needles, nurses and liquid samples

Let break down the process of purchasing a no exam life insurance policy

twenty five thousand 25000

*Underwriting processes and application features subject to change.

Step 1 – Electronic Application

Aside from a few exceptions, your no exam life insurance application will be submitted electronically. This means you can avoid tedious paperwork and snail mail.

You’ll want to collaborate with an independent life insurance agent.

Why?  Independent agents are not held captive to a particular life insurance carrier. They have your best interest at heart and can access the best no exam life insurance companies to find the ideal policy to fit your needs.

Step 2 – Phone Interview

After your application has been submitted, expect a phone interview.

Your conversation typically lasts around 20 – 30 minutes.

You will be asked straightforward questions:

  1. The basics: birthdate, gender, height, weight
  2. Your medical history
  3. The medical history of close family members
  4. Occupation
  5. Lifestyle

Note: Be upfront during the phone interview to ensure a streamlined process.

Step 3 – Database Checks

Underwriters (that’s who evaluates your application to assess risk) will almost always review your records.

Typically, life insurance carriers will look at:

  1. Driving record (DMV)
  2. Pharmacy history
  3. Medical Information Bureau – a database of previous insurance applications

Step 4 – Application Decision

Based on your electronic application, phone interview, and database checks, the underwriter will make a decision on your application. Expect one of three outcomes:

  1. Approved as applied. Best-case scenario. You are approved for the life insurance policy you applied for.
  2. More information required. Sometimes, and it depends on the carrier, you will be asked to provide more information. Let’s say, for example, you are overweight and have been prescribed medication for high blood pressure. Underwriters may want to know more about the medication you are taking (frequency, dosage, side effects, etc.).
  3. Declined as applied. Sometimes, life insurance applications are declined. Take heart, though. A decline with one company may be an approval with another company. Many life insurance options exist.

Step 5 – Yes!

Congratulations! You have secured life insurance coverage to protect your loved ones. Give yourself a high-five.

Is $25,000 Of Life Insurance Right For Me?

Your life insurance needs are entirely unique to you.

Use the following questions as guidelines for determining how much life insurance makes sense for you to purchase:

  1. How much life insurance can I qualify for?
    • In other words, do I have a major medical condition (or other issue) that would potentially disqualify me from larger policy amounts?
  2. How much money would financially protect my beneficiaries?
    • What are my beneficiaries’ current financial needs?
      • For example: rent, food, utilities, loans, debts, etc.
    • What are my beneficiaries’ future financial needs?
      • For example: mortgage, tuition
  3. What do I want to accomplish with my life insurance policy? For example:
    • Provide for loved ones financially
    • Cover medical and funeral expenses
    • Pay off debts
    • Charitable donation

In general, $25,000 of life insurance coverage is a modest amount that could provide adequate financial protection in some situations. However, most policy owners opt for a larger policy amount, like: $100,000 of life insurance or even $500,000 of life insurance.

At the end of the day – You will want to purchase an amount of life insurance you feel comfortable with.

Infographic: 7 Surprising Facts About $25,000 No Exam Life Insurance 

twenty five thousand 25000

*Subject to change

 

1. No Exam

Your life insurance policy can be purchased without a medical exam. That means you get to skip:

  • Nurses (paramedical examiner visiting your house)
  • Needles
  • Liquid samples

In the past, no exam life insurance was fairly uncommon and priced expensively. Not the case anymore. Life insurance companies realize many of us have no interest in being poked with a needle and want the convenience of purchasing a no exam policy. In response, carriers have increased the availability and decreased the cost of life insurance with no physical.

2. Cost

Let’s look at some sample quotes.

$25,000 of no exam term life insurance is quite affordable:

twenty five thousand 25000

*Monthly premiums. Quotes provided are based on limited input. Quotes are for informational purposes only. Your rates may vary and will depend on the carrier’s life insurance underwriting procedures.

twenty five thousand 25000

*Monthly premiums. Quotes provided are based on limited input. Quotes are for informational purposes only. Your rates may vary and will depend on the carrier’s life insurance underwriting procedures.

Interestingly, the cost of a policy for twice the amount – a $50,000 life insurance no exam policy – is very competitive with the $25,000 policy quotes. In fact, the quotes for a healthy male and female are a little lower in some cases.

Popular carriers that offer $25,000 life insurance policies:

In comparison, see sample quotes for $50,000 of no exam term life insurance:

fifty thousand 50000

*Monthly premiums. Quotes provided are based on limited input. Quotes are for informational purposes only. Your rates may vary and will depend on the carrier’s life insurance underwriting procedures.

fifty thousand 50000

*Monthly premiums. Quotes provided are based on limited input. Quotes are for informational purposes only. Your rates may vary and will depend on the carrier’s life insurance underwriting procedures.

3. Uncommon

There are only a handful of companies that offer no exam life insurance for $25,000 (a primary reason why a $50,000 life insurance policy is so similar in cost – there’s more carriers that offer that size of policy).

The most popular life insurance carriers offering $25,000 of no exam term life insurance:

Mutual of Omaha mutual of omaha

Mutual of Omaha, a highly-rated life insurance company, offers competitive rates for $25,000 of term life insurance through their Term Life Express product.

A summary of Mutual of Omaha Term Life Express important features:

  • Application wait time tends to be longer – typically a couple weeks.
  • Some applicants won’t need to participate in a phone interview. For example:
    • If you are younger than 61, and your policy is for less than $250,001, you are only randomly selected for a phone interview.
  • Life insurance is issued to applicants between the ages of 18 – 65.
  • Term policies are offered at 10, 15, 20, and 30 year term lengths.
  • Excellent riders are included with your policy purchase (contractual provisions that provide additional benefits to your life insurance policy):
    • Accelerated Death Benefits –
      • Chronic Illness
      • Critical Illness
      • Terminal Illness
    • Residential Damage
    • Waiver of Premium
    • Common Carrier Death Benefit
  • Additional optional riders can be added to your policy for an extra cost (Disability, Accidental Death, Dependent Child).
  • Term policy can be converted into a permanent policy (during length of term and before your 70th birthday).
  • Two health classes are offered – Standard and Standard Tobacco – for their no exam life insurance.

Phoenix Life Insurance Company phoenix

Phoenix Life Insurance Company, a popular no exam life insurance carrier, offers $25,000 term policies through their no exam product is called, Phoenix Safe Harbor.

A summary of Phoenix Safe Harbor important features:

  • Applications often have a decision within 24 hours.
  • Phoenix tends to accept more health risks than other no exam life insurance companies.
  • Life insurance is issued to applicants between the ages of 18 – 80.
  • Term policies are offered at 10, 15, 20, and 30 year term lengths.
  • Excellent riders are included with your policy purchase:
    • Accelerated Death Benefits –
      • Up to 95% of your death benefit can be accelerated (this is a much higher percentage than most carriers offer).
      • Chronic Illness
      • Critical Ilness
      • Terminal Illness
    • Unemployment
  • Additional optional rider for an extra cost: Accidental Death
  • Term policy can be converted into a permanent policy (restrictions depend on length of term policy, full and partial conversion available)
  • Two health classes are offered – Standard and Standard Tobacco – for their no exam life insurance.

Fidelity Life Insurance Companyfidelity life

Fidelity Life Insurance Company also provides $25,000 of no exam term life insurance via their RAPIDecision Express products.

A summary of Fidelity RAPIDecision Express important features:

  • Application decisions typically occur within 24 – 48 hours.
  • Life insurance is issued to applicants between the ages of 18 – 65.
  • Term policies are offered at 10, 15, 20, and 30 year term lengths.
  • Riders included with your policy purchase:
    • Accelerated Death Benefit –
      • Up to 50% of your death benefit can be accelerated
  • Optional riders that can be added on for an additional cost (Accidental Death, Dependent Child).
  • Guaranteed annual renewable term (ART) is available after initial level term length, until age 95.
  • Two health classes are offered – Standard Non-nicotine and Standard Nicotine – for their no exam life insurance.

4. Health

Perfect health is not a requirement for purchasing $25,000 of no exam life insurance.

In fact, for some situations, no exam life insurance may be more affordable if you have a few minor health issues or if you haven’t had a recent checkup:

  1. Has it been more than two years since your last physical?
    • Underwriters want to see regular checkups to ensure your health is proactively monitored
    • If you haven’t had a doctor’s visit lately, it’s possible something will show up on your lab work unexpectedly (i.e. elevated liver enzymes). Some lab results can place you in a different health class, causing your premiums to rise.
  2. Do you have multiple (uncomplicated) medical issues?
    • If you have minor health concerns, it’s possible that no exam life insurance will be a better route to go because the underwriting process uses less scrutiny.

Keep in mind – Most life insurance companies use two health classes for no exam policies of $500,000 or less: Standard and Standard Tobacco. This means you can, oftentimes, qualify for the lowest rates even if your health is less than perfect.

5. Weight

There are weight limits for $25,000 of no exam life insurance.

While each carrier uses their own height and weight limits, think of this chart as a general guideline for the height and weight cutoffs:

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*Subject to change

6. Contract

Your life insurance policy is a contract.

A policy is a contract between a life insurance company and someone (or occasionally something, like a trust) who has a financial interest in the life and livelihood of someone else. – 10 Things You Absolutely Need To Know About Life Insurance, Tim Maurer, Forbes

A general explanation of how life insurance contracts are set up:

  1. Insurance companies collect premiums.
  2. Premiums are pooled together and conservatively invested by the life insurance company.
  3. If an insured person dies, a death benefit is paid out to the designated beneficiaries.
  4. The insurance company profits on the difference in the premiums collected and invested, and the money paid out in death benefits.

Important – You are in control of your life insurance contract. If at any time you longer need or want your policy, you may cancel it.

7. Roles

There are four primary players in a life insurance contract.

Whether you have $25,000 or $1 million of no exam life insurance, your life insurance policy will have the following roles:

  1. Owner – the person, or sometimes entity, who owns the life insurance contract. The owner is allowed to make changes to the policy.
  2. Insured – the person whose life is insured by the policy.
  3. Beneficiary – who will receive the death benefit should the insured die while the policy is in force.
  4. Insurer – the life insurance carrier providing the contract.

How To Apply

There are two things you need to do in order to secure the best $25,000 (or any amount, for that matter) policy you qualify for:

1. Collaborate with an independent agent

  • Here’s why: It’s important to not apply with a specific life insurance company. Why? Should something concerning show up on your application, such as a medical condition, that information could be available to other life insurance companies.
  • An independent agent is not held captive to a particular carrier. They have your best interest at heart and will do the shopping for you.

2. Prepare

  • Be ready to answer your phone interview questions.
  • By having your medical history, medications, occupation, and lifestyle information readily available, your application process is streamlined.

To get started, simply fill out an instant quote.

There are plenty of curves in life’s journey. But, luckily there are shortcuts to some important destinations. This roadmap should guide you in the right direction towards your life insurance coverage goals and get you from A to B, ASAP.

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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2 Comments

[…] Term life insurance with no physical required is available in varying face amounts – $25,000, $50,000, $100,000, $250,000, $500,000 and […]

July 9, 2018 at 3:31 am

[…] to no physical (no exam, non med) life insurance, face amounts come in a large range: $25,000, $50,000, $100,000, $250,000, $500,000, and even $1,000,000. Note: if you are in need of a larger […]

July 19, 2018 at 1:49 pm
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