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

CareSource gets latest report card from state
CareSource gets latest report card from state

CareSource’s performance rating slipped in some categories on its latest report card from Ohio Medicaid, though retained high marks for its efforts to keep children healthy. The nonprofit insurer, headquartered in downtown Dayton, overall received 14 out of 25 stars, ranking 3rd out of the five insurers that privately manage Medicaid plans in...
Trump nominates new commander of Air Force Materiel Command
Trump nominates new commander of Air Force Materiel Command

President Donald Trump has nominated Lt. Gen. Arnold Bunch Jr. to become commander of the Air Force Materiel Command at Wright-Patterson Air Force Base. Bunch currently serves as military deputy at the Office of the Assistant Secretary of the Air Force for Acquisition at the Pentagon. The nomination must be confirmed by the Senate. If confirmed, Bunch...
Dayton VA director says hospital to focus on new jobs, programs in 2019
Dayton VA director says hospital to focus on new jobs, programs in 2019

Dayton VA Medical Center Director Jill Dietrich told the Dayton Daily News that she’s focused on growing new programs, adding jobs and “continuing to provide excellent care” in 2019. Dietrich, who manages 2,300 employees and a $435 million budget, has oversight of the sprawling hospital campus in Dayton and four clinics in in Richmond...
Honda applies to build $36.5 million expansion
Honda applies to build $36.5 million expansion

Honda appears to be gearing up for a big expansion at its Anna engine plant. The automaker has recently applied to Shelby County for a new building construction permit valued at $33 million. The Honda of America and Devon Industrial Group application — filed near the end of November — seeks permission to build a 119,063-square-foot building...
Employers say they’re poised to hire in 2019
Employers say they’re poised to hire in 2019

Employers in the Dayton area will hire at a “respectable” pace in the first quarter of the new year, according to Manpower’s newest survey of area employers. Nearly a quarter — 24 percent — of surveyed employers plan to hire new employees from January to March next year, the survey found. This number is offset by the four...
More Stories