3 companies that issue term life insurance policies with no medical exam


There are a lot of reasons why people don’t get around to buying a term life insurance policy.

They may think their coverage through a group plan is good enough — but the truth is, it’s probably not because the benefit usually doesn’t follow when you split from your employer.

Or they may think they don’t need life insurance — which may or may not be true, depending on your circumstances.

And then there are some people just don’t want to have to undergo a medical exam to get a policy.

Well, if that last category describes you, take heart. A few providers in the marketplace will write you a policy with no medical exam. Let’s take a look at them.

RELATED: Life insurance — Your 7 most common questions answered

Skip the exam, get the term life coverage!

The following providers all offer term life without the medical exam.

In many cases, you’ll get a decision in as little as 20 minutes after you complete your online application.

But there is a trade-off. Not passing traditional medical underwriting means these no-exam policies typically are more expensive than their medically underwritten counterparts — and their coverage amounts may be limited.

Globe Life

“$1 buys $50,000 coverage”

That’s the bold claim made by this provider of term life insurance with no medical exam required.

globe life level term

Of course, that’s just promotional pricing for the first month of the policy. It resets at whatever rate you agree to for the life of the policy the following month.

Globe boasts on its website that adult rates can be as low as $3.49 a month. That’s because the maximum coverage offering is only for $50,000. With money expert Clark Howard recommending you buy 10 times your annual income in term life insurance, that’s far too little for almost anyone.

In all, five different coverage options are offered online by Globe Life$5,000, $10,000, $20,000, $30,000 or $50,000.

This insurer is an A+ rated business by A.M. Best.

Haven Life

Haven Life is another company that will let qualified applicants (up to age 45) finalize coverage online without the need for a medical exam.

On its website, Haven says a 35-year-old male in excellent health will typically pay $21 a month for a $500,000/20-year term policy.

Haven recently upped its maximum coverage offering from $1 million to $2 million. All policies are issued by Massachusetts Mutual Life Insurance Company, an A++ rated company for financial strength and stability.

Here are a few other real rates from anonymous policy holders Haven lists online:

haven life insurance quotes

Mutual of Omaha

Mutual of Omaha will write term life policies for people between the ages of 30 and 74. The policies can remain in force until age 80.

No medical exam is required; you only have to answer a few health questions.

Policies can be written for anywhere from $25,000 to $100,000.

As part of the underwriting process, Mutual of Omaha will request your MIB report and a pharmaceutical report. You can read more about these little-known health dossiers that are complied on you here.

Mutual of Ohama is an A+ rated business by A.M. Best.



Next Up in Business

How many people earn what you do? See how you compare in the area
How many people earn what you do? See how you compare in the area

In addition to having a decent cost of living and below-average housing costs, this region also is home to some good-paying jobs. That is evident by income tax data recently released by the Ohio Department of Taxation. In the Miami Valley region, about 118,380 tax returns reported earnings of $100,000 or more, according to analysis of the data by this...
Massive Toys ‘R’ Us giraffe mascot given away through liquidation sale
Massive Toys ‘R’ Us giraffe mascot given away through liquidation sale

Toys “R” Us mascot Geoffrey the Giraffe has a new home. The toy store chain is undergoing the process of liquidating all of its stores after filing for bankruptcy earlier this year. The retailer sold off its 16-ft., 550-pound fiberglass statue of the giraffe mascot to a children’s hospital. Myers Squibb Children’s Hospital in...
Did Kroger make the list? America’s top 13 favorite grocery stores
Did Kroger make the list? America’s top 13 favorite grocery stores

Some grocery chain have shoppers who are majorly loyal to their stores. Marketforce surveyed nearly 13,000 U.S. consumers, and asked them about their grocery shopping habits including brand preference, customer experience and brand awareness. About 48 percent of customers were very satisfied with their customer experience during their last grocery...
Frisch’s to bring back Coca-Cola at all restaurants
Frisch’s to bring back Coca-Cola at all restaurants

It’s back. Frisch’s is bringing back Coca-Cola drink products to its restaurants. Frisch’s CEO Jason Vaughn announced on Monday morning that the chain will switch back to Coke products. Frisch’s switched to Pepsi in 2013, and fans criticized the move after the restaurant’s 50-year partnership with Coke. Coca-Cola is expected...
Firm shields customers against cyber-criminals
Firm shields customers against cyber-criminals

In an era where cyber-security is increasingly important, Secure Cyber Defense is reaping the rewards. The little company based in downtown Miamisburg’s South Second Street is seeing growing revenue and attention, said Shawn Waldman, the company’s co-founder and chief executive. Waldman said much of the company’s recent growth has...
More Stories