Whole Life Insurance with No Medical Exam: See 4 Types & How to Apply

Never buy a policy you don’t understand.

No exam whole life insurance is no exception to that rule. At its core, this type of life insurance has two key components:

  1. You do not participate in a medical exam.
  2. The policy lasts your whole life.

While it sounds simple enough, there are important differences between the 4 versions of no exam whole life insurance offered.

In this article, we will cover the 4 different types of whole life insurance with no medical exam, sample rates, and how to apply.


Table Of Contents

  1. What is No Exam Whole Life Insurance?
  2. Review of the 4 Types of No Exam Whole Life Insurance
  3. How Much Does Whole Life Insurance with No Exam Cost?
  4. Best Companies for Whole Life Insurance with No Exam
  5. How to Apply for No Medical Exam Whole Life Insurance

What is No Exam Whole Life Insurance?

No exam whole life insurance is life insurance that pays a death benefit on the death of the insured, accumulates cash value, and is issued without a medical examination.

Let’s break down the three parts of the definition:

  1. Life insurance that pays a death benefit on the death of the insured – your life insurance policy lasts your whole life and will pay a death benefit to your beneficiaries at the time of your passing.
  2. accumulates a cash value – in addition to the death benefit, whole (permanent) life insurance policies accrue cash that can be borrowed against in the form of a policy loan.
  3. issued without a medical examination – no medical exam life insurance is purchased without the applicant participating in a physical exam.

Review of the 4 Types of No Exam Whole Life Insurance

Many life insurance types exist. Specific to no exam whole life insurance, there are 4 variations you need to know about. We will explain each type of life insurance policy below.

  1. Simplified issue life insurance
  2. Graded benefit life insurance
  3. Guaranteed issue life insurance
  4. Final expense life insurance
4 Types of Whole Life Insurance with No Exam
Subject to change.

1. Simplified Issue Life Insurance

When you hear the phrase, no exam life insurance, it’s likely referring to simplified issue life insurance.

Simplified issue whole life insurance has a few key characteristics:

  • Larger face amounts are available (but typically not as large as medically underwritten whole life insurance).
  • Simplified underwriting means weeks can be shaved off of the application process.
  • Policy includes a cash-value component.

Note – Simplified issue whole life is also sold as a fully underwritten (think: medical exam) policy. You may pay more for simplified issue whole life if you opt to skip the exam.

Who Should Buy Simplified Issue Whole Life?

You might consider simplified issue whole life insurance if:

  1. You are in at least decent health.
  2. You want a life insurance policy that will last your entire life.
  3. You have an interest in utilizing the cash value feature.
  4. You don’t have the time or interest in participating in medical underwriting.

Who Shouldn’t Buy Simplified Issue Whole Life?

Sometimes, simplified issue whole life insurance is not a good fit and other options should be explored.

For example, you might consider a different option if:

  1. You have experienced more serious health issues.
  2. You want life insurance to last for a specific period of time (such as a 20-year term life insurance policy).
  3. You do not qualify for simplified issue life insurance based on age.

Bottom line – Simplified issue whole life is your best option for no exam whole life insurance if you are able to qualify for it (decent health). Be sure to review the best no physical life insurance companies available.

2. Graded Benefit Life Insurance

Typically, graded benefit life insurance is offered to applicants who don’t qualify for traditional life insurance.

Here’s why: a graded benefit policy, which is almost always sold as whole life insurance, has smaller face amounts and higher premiums than its traditional counterparts. However, graded benefit life insurance can make all the difference for an applicant who has been denied life insurance.

Important attributes of graded benefit whole life insurance are:

  • The death benefit is graded, meaning that your beneficiary will only receive a percentage of the death benefit for the first couple of years. Typically, the graded benefits look like:
    • 25% – Year 1
    • 50% – Year 2
    • 100% – Year 3 and beyond
  • Straightforward underwriting process that usually includes only a few health questions (no nurses).
  • Modest face amounts (policy sizes) available.
  • Policy includes a cash value component.

Who Should Buy Graded Benefit Whole Life?

You should consider graded benefit whole life insurance if:

  1. You do not qualify for simplified issue whole life insurance.
  2. You are in less than average health.
  3. You would like a permanent policy with cash value.
  4. You know that some life insurance is better than zero life insurance.

Note – You have more options for graded benefit life insurance when you are between the ages of 40 – 80.

Who Shouldn’t Buy Graded Benefit Whole Life?

For some, graded benefit life insurance is not the best option. You might want to consider a different option if:

  1. You qualify for a simplified issue whole life insurance policy.
  2. You are in decent health.
  3. You are interested in a term life insurance policy (such as a 20-year term life insurance policy).

Bottom line – Graded benefit whole life insurance is a great option if you are in less than average health.

3. Guaranteed Issue Life Insurance

Guaranteed issue life insurance is typically your last stop for a life insurance purchase.

Here’s why – the guarantee of life insurance approval, regardless of your health status, comes at a cost – specifically with high premiums and limited policy face amounts. Guaranteed issue (GI) is best for those who are otherwise uninsurable.

Guaranteed issue’s defining traits:

  • You are guaranteed to be approved for life insurance.
  • Simple application process with usually zero health questions.
  • Premiums cost more than other forms of life insurance.
  • Face amounts (policy sizes) available are modest.
  • Death benefit typically has a waiting period.
  • Whole life insurance with cash value.

Who Should Buy Guaranteed Issue Whole Life?

GI is generally a good fit for someone with specific circumstances. You should consider a GI policy if:

  1. You have serious health complications (for example, life insurance for cancer patients).
  2. You do not qualify for other forms of life insurance.
  3. You know that a modest policy is better than no life insurance.
  4. You want cash value permanent life insurance.
  5. You are between the ages of 40- 85 years old.

Who Shouldn’t Buy Guaranteed Issue Whole Life?

Guaranteed issue is often not recommended for most applicants. For example, you should consider other life insurance options first if:

  1. You can qualify for a different/cheaper form of life insurance.
  2. You are in average health.
  3. You may want a term life insurance policy (such as a 20-year term life insurance policy).
  4. You do not fall within the acceptable age range of issuance.

Bottom line – Guaranteed issue life insurance makes sense if someone, and we mean this in the nicest way, is otherwise uninsurable.

4. Final Expense Life Insurance

As the name implies, final expense life insurance is designed to pay for end-of-life expenses. Typically final expense coverage is purchased to pay for medical bills and a funeral.

Note – you will want to be careful that the amount you will pay in premiums does not eventually add up to more than the face amount of the policy. If you are older, be sure to evaluate your options for no medical exam life insurance for seniors.

Here are the key benefits of final expense life insurance:

  • Designed to pay for costs associated with end-of-life needs.
  • Easy to qualify for with only a few health questions.
  • The death benefit is typically graded.
  • Best for those in at least average health.
  • Modest policy face amounts.
  • Cash-value component.

Note Fidelity Life offers a term final expense product.

Who Should Buy Final Expense Life Insurance?

Final expense is an excellent fit for some applicants. Consider a final expense life insurance policy if:

  1. You are looking to ensure funeral expenses are covered.
  2. You are between the ages of 50 – 85 (a small number of carriers issue final expense starting at age 25).
  3. You would like the option of a policy loan.
  4. You understand that final expense life insurance will have limited face amounts.

Who Shouldn’t Buy Final Expense Life Insurance?

Sometimes, final expense is not a good fit. You might want to consider a different option if:

  1. You need a larger face amount (policy size).
  2. You are in at least decent health.
  3. You qualify for simplified issue whole life insurance.
  4. You do not fall within the acceptable age range of issuance.
  5. You are interested in term life insurance (such as a 20-year term life insurance policy).

Bottom line – Final expense life insurance is an excellent option for a specific need: end-of-life expenses. Be sure to analyze your insurance needs before applying.


How Much Does Whole Life Insurance with No Exam Cost?

Here are sample quotes for simplified issue whole life insurance, graded benefit life insurance, guaranteed issue life insurance, and final expense life insurance. Your individual quote might vary depending on your age and health status.

Simplified Issue Whole Life Insurance Quotes for Male

 $50,000$100,000$250,000$400,000
20 Year Old$45.46$84.61$202.08$319.55
25 Year Old$49.61$92.93$222.86$352.80
30 Year Old$55.65$105.00$253.05$401.10
35 Year Old$64.14$121.98$295.49$469.00
40 Year Old$73.85$141.40$344.05$546.70
45 Year Old$89.99$173.69$424.77$675.85
50 Year Old$110.43$214.55$526.92$839.30
55 Year Old$138.38$270.46$666.71$1062.95
60 Year Old$173.64$340.99NANA
Level monthly premiums. Quotes are based on healthy individuals and are samples only. Subject to change.

Simplified Issue Whole Life Insurance Quotes for Female

 $50,000$100,000$250,000$400,000
20 Year Old$43.62$80.94$192.89$304.85
25 Year Old$48.17$90.04$215.64$341.25
30 Year Old$54.60$102.90$247.80$392.70
35 Year Old$62.56$118.83$287.61$456.40
40 Year Old$71.31$136.32$331.36$526.40
45 Year Old$82.91$159.51$389.33$619.15
50 Year Old$98.70$191.10$468.30$745.50
55 Year Old$126.00$245.70$604.80$963.90
60 Year Old$158.07$309.84NANA
Level monthly premiums. Quotes are based on healthy individuals and are samples only. Subject to change.

Graded Benefit Life Insurance Quotes for Male

 $5,000$10,000$20,000$25,000
20 Year Old$22.08$37.53$71.49$88.46
25 Year Old$22.54$40.73$77.12$95.31
30 Year Old$22.54$40.73$77.12$95.31
35 Year Old$22.54$40.73$77.12$95.31
40 Year Old$12.92$22.44$41.48$51.00
45 Year Old$15.64$27.88$52.36$64.60
50 Year Old$19.77$34.88$66.35$82.09
55 Year Old$23.30$47.30$83.01$102.91
60 Year Old$29.94$55.23$107.07$132.98
65 Year Old$38.28$69.17$135.00$167.92
70 Year Old$46.25$89.17$175.00$217.92
75 Year Old$62.92$124.19$244.04$303.96
80 Year Old$89.17$164.86$325.36$405.62
85 Year Old$136.07$237.51$470.67$587.25
Samples only. Subject to change.

Graded Benefit Life Insurance Quotes for Female

 $5,000$10,000$20,000$25,000
20 Year Old$18.05$29.46$55.35$68.30
25 Year Old$19.28$31.93$60.28$74.46
30 Year Old$20.54$34.44$65.31$80.75
35 Year Old$21.05$37.76$71.17$87.87
40 Year Old$12.23$21.06$38.73$47.56
45 Year Old$14.29$25.18$46.95$57.84
50 Year Old$16.82$30.24$57.09$70.51
55 Year Old$19.60$35.80$68.20$84.41
60 Year Old$23.77$44.13$84.86$105.23
65 Year Old$29.78$56.16$108.92$135.30
70 Year Old$35.83$68.33$133.33$165.83
75 Year Old$47.92$89.61$174.87$217.50
80 Year Old$71.40$117.89$231.42$288.19
85 Year Old$109.38$179.22$354.09$441.53
Samples only. Subject to change.

Guaranteed Issue Life Insurance Quotes for Male

 $5,000$15,000$20,000$25,000
40 Year Old$26.25$72.92$96.25$119.58
45 Year Old$29.17$81.67$107.92$134.17
50 Year Old$22.50$65.68$87.27$108.65
55 Year Old$29.42$56.90$114.95$143.46
60 Year Old$32.40$63.17$126.87$158.35
65 Year Old$43.04$125.23$169.40$211.52
70 Year Old$50.09$146.27$197.45$246.58
75 Year Old$70.22$206.83$278.12$347.42
80 Year Old$115.42$340.42$452.91$565.41
85 Year Old$158.91$472.73$692.70$865.38
Samples only. Subject to change.

Guaranteed Issue Life Insurance Quotes for Female

 $5,000$15,000$20,000$25,000
40 Year Old$21.67$59.17$77.92$96.67
45 Year Old$24.58$67.92$89.58$111.25
50 Year Old$17.69$51.24$68.02$84.79
55 Year Old$22.60$63.85$87.83$109.31
60 Year Old$25.99$74.03$101.20$126.27
65 Year Old$31.78$91.35$124.30$155.15
70 Year Old$38.22$110.78$150.15$187.46
75 Year Old$54.59$159.75$215.42$269.04
80 Year Old$88.71$262.13$315.82$439.54
85 Year Old$100.53$297.59$437.18$545.98
Samples only. Subject to change.

Final Expense Life Insurance Quotes for Male

 $2,000$5,000$10,000$25,000$35,000
20 Year Old$11.89$22.08$37.53$88.46NA
30 Year Old$11.63$22.54$40.73$95.31NA
40 Year Old$11.77$12.92$22.44$51.00$70.04
50 Year Old$9.87$19.77$34.88$82.09$113.56
60 Year Old$15.61$29.94$55.23$132.98$184.82
70 Year Old$24.94$46.25$89.17$217.92$349.60
80 Year Old$45.74$89.17$164.86$405.62$762.78
85 Year Old$64.12$136.07$237.51$587.25$985.93
Samples only. Subject to change.

Final Expense Life Insurance Quotes for Female

 $2,000$5,000$10,000$25,000$35,000
20 Year Old$10.28$18.05$29.46$68.30NA
30 Year Old$11.03$20.54$34.44$80.75NA
40 Year Old$10.60$12.23$21.06$47.56$65.22
50 Year Old$8.55$16.82$30.24$70.51$97.35
60 Year Old$12.58$23.77$44.13$105.23$145.96
70 Year Old$19.20$35.83$68.33$172.30$239.48
80 Year Old$31.80$71.40$117.89$288.19$601.17
85 Year Old$53.20$109.38$179.22$441.53$936.65
Samples only. Subject to change.


Best Companies for Whole Life Insurance with No Exam

Here are two of the best companies for whole life insurance policies with no medical exam.

These policies come with dividends and no exam, but a full health review is required for for larger amounts of coverage.

Here are the best companies for final expense whole life insurance with no exam.

  • Mutual of Omaha Life Insurance Company – you can purchase policies between $5,000 – $40,000.
  • Guarantee¬†Trust Life Insurance Company – you only have to answer 5 questions and can purchase between $5,000 – $25,000 in coverage.

The top two companies when looking to buy guaranteed acceptance whole life insurance with no exam are:

These policies have no medical exam and no questions asked. You can get $5,000 -$25,000 in coverage. Acceptance is guaranteed, but these policies are more expensive and only for people who cannot qualify for other policies.

Contact us to find the best policy for you.


How to Apply for No Medical Exam Whole Life Insurance

There are two things you need to do before purchasing no exam whole life insurance:

  1. Partner with an expert. Collaborate with an independent life insurance agent who has your best interest as their top priority. Independent agents access the top carriers to find the best policies for you to choose from. They are not held captive to a particular carrier.
  2. Know your needs. Be sure to understand what type of policy will be best for you, and just as important, what policy is not. An expert agent can help you through a needs analysis.

To get started, simply fill out our free quote.