Life Insurance for Seniors With No Medical Exam: Top 5 Options
Finding life insurance for seniors with no medical exam can feel overwhelming, especially if you have health concerns or simply want to avoid the hassle of medical exams. The good news? Several reputable insurance companies offer no medical exam policies specifically designed for seniors. In this comprehensive guide, we’ll explore your best options and help you make an informed decision.
What Is No Medical Exam Life Insurance?
Life Insurance for seniors with no medical exam is also called simplified issue or guaranteed issue life insurance, allows you to purchase coverage without undergoing a physical examination, blood tests, or urine samples. Instead, insurers evaluate your application based on answers to health questions (simplified issue) or accept you automatically regardless of health status (guaranteed issue).
These policies are particularly valuable for seniors who:
- Have pre-existing health conditions
- Take multiple medications
- Want coverage quickly without delays
- Prefer privacy regarding their medical information
- Have been declined for traditional coverage
Types of Life Insurance for Seniors with No Medical Exam
Before diving into specific companies, it’s important to understand the two main types:
Simplified Issue Life Insurance
With simplified issue policies, you’ll answer a brief health questionnaire (usually 5-15 questions) but won’t need a medical exam. These typically offer:
- Higher coverage amounts ($25,000-$500,000)
- Lower premiums than guaranteed issue
- Faster approval (often within 24-48 hours)
- Coverage starts immediately in most cases
Guaranteed Issue Life Insurance
Guaranteed issue policies accept all applicants regardless of health status. They feature:
- No health questions at all
- Lower coverage limits (typically $5,000-$25,000)
- Higher premiums relative to coverage
- Waiting period (usually 2-3 years) before full death benefit applies
- Graded death benefit during waiting period
Top 5 Life Insurance for Seniors with No Medical Exam
Below are who we offers life insurance for seniors with no medical exam.
1. Mutual of Omaha – Best Overall for Seniors
Policy Type: Guaranteed Issue Whole Life Insurance
Age Range: 45-85
Coverage Amount: $2,000-$25,000
Key Features:
- No medical exam or health questions required
- Acceptance guaranteed regardless of health
- Fixed premiums that never increase
- Two-year waiting period for natural death (full benefit paid for accidental death immediately)
- Cash value accumulation
- Option to add accidental death benefit rider
Pros:
- One of the most established names in senior life insurance
- Simple application process (usually 10 minutes or less)
- Coverage available even with serious health conditions
- Can apply online, by phone, or through an agent
Cons:
- Waiting period means limited benefit in first two years
- Higher premiums compared to traditional policies
- Coverage caps at $25,000
Real Example: Margaret, 72, has diabetes and high blood pressure. She was declined for traditional coverage but obtained $15,000 in guaranteed issue coverage from Mutual of Omaha. Her monthly premium is $89. If she passes away from natural causes in the first two years, her beneficiaries receive a return of premiums plus 10% interest. After two years, they receive the full $15,000.
2. SBLI (The Savings Bank Life Insurance) – Best for Higher Coverage Amounts
Policy Type: Simplified Issue Term and Whole Life
Age Range: 18-80 (varies by product)
Coverage Amount: Up to $500,000
Key Features:
- Only 8-10 health questions, no medical exam
- Coverage starts immediately
- No waiting period for full death benefit
- Competitive premiums for simplified issue
- Both term and whole life options available
Pros:
- Much higher coverage limits than guaranteed issue
- Immediate full coverage (no waiting period)
- Lower premiums if you’re in reasonable health
- Can apply entirely online
Cons:
- Must answer health questions (may not qualify if health is poor)
- Not available in all states
- Stricter underwriting than guaranteed issue
Real Example: Robert, 68, is a non-smoker in good health but doesn’t want the hassle of a medical exam. He secured $100,000 in simplified issue term life insurance from SBLI for $147 per month. The entire process took 20 minutes online, and he was approved within 24 hours.
3. AIG (American General) – Best for Faster Approval Process
Policy Type: Simplified Issue Term Life
Age Range: 18-70
Coverage Amount: $25,000-$500,000
Key Features:
- Instant decision technology for many applicants
- No medical exam required
- 10-year, 15-year, 20-year, and 30-year term options
- Conversion option to permanent coverage
- Accelerated underwriting for qualifying applicants
Pros:
- Often get approved in minutes with instant decision
- Large coverage amounts available
- Competitive rates for seniors in good health
- Strong financial strength ratings
Cons:
- Age limit of 70 may exclude some seniors
- Health questions required
- Best rates reserved for those in good health
Real Example: Linda, 65, wanted $200,000 to cover her mortgage and leave something for her children. She answered health questions online through AIG and received instant approval for a 15-year term policy at $178 per month. No medical exam was required, and her coverage began immediately.
4. Gerber Life – Best for Small Final Expense Policies
Policy Type: Guaranteed Issue Whole Life
Age Range: 50-80
Coverage Amount: $5,000-$25,000
Key Features:
- Guaranteed acceptance with no health questions
- Coverage specifically designed for final expenses
- Level premiums for life
- Two-year waiting period for natural death
- Builds cash value
- Optional children’s coverage
Pros:
- Perfect for covering funeral and burial costs
- Well-known, trusted brand
- Simple application (usually 5-10 minutes)
- Affordable for small coverage amounts
- Can add spouse coverage
Cons:
- Limited to smaller benefit amounts
- Waiting period for full natural death benefit
- Higher cost per thousand of coverage
Real Example: James, 78, wanted to ensure his funeral wouldn’t burden his children. He purchased $10,000 in guaranteed issue coverage from Gerber Life for $73 per month. Despite having COPD and a history of heart issues, he was accepted immediately with no questions about his health.
5. Bestow – Best Digital Experience for Tech-Savvy Seniors
Policy Type: Simplified Issue Term Life
Age Range: 18-60 (for no exam) / 18-70 (with exam option)
Coverage Amount: $50,000-$1,500,000
Key Features:
- Completely online application process
- No medical exam for qualifying applicants
- Get quote and apply in minutes
- Immediate coverage decisions
- Modern, user-friendly digital platform
- Term lengths from 10-30 years
Pros:
- Fastest, easiest online application
- Instant approval for many applicants
- Very competitive rates
- No agent pressure or phone calls required
Cons:
- Age 60 cutoff may exclude many seniors
- Not available in all states
- Must be comfortable with technology
Real Example: Susan, 58, wanted to get coverage before turning 60. She completed Bestow’s online application in 7 minutes from her tablet, answering health questions but skipping the medical exam. She was instantly approved for $250,000 in 20-year term coverage at $156 per month.
Top 5 Companies for Life Insurance for Seniors with No Medical Exam
| Company | Policy Type | Age Range | Max Coverage | Waiting Period | Best For |
|---|---|---|---|---|---|
| Mutual of Omaha | Guaranteed Issue | 45-85 | $25,000 | 2 years | Seniors with health issues |
| SBLI | Simplified Issue | 18-80 | $500,000 | None | Higher coverage needs |
| AIG | Simplified Issue | 18-70 | $500,000 | None | Quick approval |
| Gerber Life | Guaranteed Issue | 50-80 | $25,000 | 2 years | Final expenses |
| Bestow | Simplified Issue | 18-60 | $1,500,000 | None | Tech-savvy buyers |
Cost Comparison: What to Expect
Here’s what a healthy 65-year-old non-smoker might pay monthly for different coverage amounts:
Simplified Issue (No Medical Exam)
- $50,000 coverage: $60-$95/month
- $100,000 coverage: $115-$175/month
- $250,000 coverage: $275-$425/month
Guaranteed Issue (No Medical Exam or Health Questions)
- $10,000 coverage: $55-$85/month
- $15,000 coverage: $75-$115/month
- $25,000 coverage: $110-$165/month
Important Note: Rates vary significantly based on age, gender, smoking status, and health. A 75-year-old will pay considerably more than a 65-year-old for the same coverage.
How to Choose the Right Policy
Consider these factors when selecting life insurance for seniors with no medical exam policy:
1. Assess Your Coverage Needs
Ask yourself:
- What debts need to be paid off (mortgage, credit cards, loans)?
- How much do funeral and burial costs run in your area ($7,000-$12,000 average)?
- Do you want to leave an inheritance for loved ones?
- Are there estate taxes or final expenses to consider?
2. Evaluate Your Health Status
If you’re in relatively good health: Consider simplified issue policies. You’ll likely get better rates and higher coverage limits by answering a few health questions.
If you have serious health conditions: Guaranteed issue policies ensure acceptance without any health-related denials, though you’ll pay higher premiums and face waiting periods.
3. Consider the Waiting Period
Guaranteed issue policies typically have a 2-3 year waiting period where:
- Accidental death: Full benefit paid immediately
- Natural death in years 1-2: Return of premiums paid plus interest (usually 10%)
- Death after waiting period: Full death benefit paid
If you need immediate full coverage, opt for simplified issue instead.
4. Compare Premium Structures
Level premiums: Stay the same for life (whole life policies) Increasing premiums: May increase over time (some term policies) Term vs. Whole Life: Term costs less initially but expires; whole life builds cash value and lasts for life
5. Review the Company’s Financial Strength
Check ratings from:
- A.M. Best
- Moody’s
- Standard & Poor’s
- Fitch Ratings
Look for companies rated A or higher to ensure they’ll be around to pay claims.
Application Process: What to Expect
For Simplified Issue Policies:
Step 1: Get a quote online or by phone (2-5 minutes)
Step 2: Complete the application with basic information:
- Personal details (name, address, date of birth)
- Beneficiary information
- Employment history
- Health questions (5-15 questions typically)
Step 3: Receive decision (instant to 48 hours)
Step 4: Make first premium payment
Step 5: Coverage begins (usually immediately)
For Guaranteed Issue Policies:
Step 1: Request a quote (2-3 minutes)
Step 2: Provide basic information:
- Name, address, date of birth
- Beneficiary details
- Coverage amount desired
Step 3: Automatic approval (no health questions)
Step 4: Make first payment
Step 5: Coverage begins with waiting period
Common Mistakes to Avoid
1. Buying Too Little Coverage
Many seniors underestimate costs. A $10,000 policy might seem sufficient, but consider inflation and all expenses your family will face.
2. Not Shopping Around
Prices vary dramatically between companies. Get quotes from at least 3-5 insurers before deciding.
3. Lying on the Application
Even without a medical exam, insurers can access medical records during the contestability period (first two years). Be honest on all health questions.
4. Forgetting About Existing Coverage
Check if you have coverage through:
- Former employers
- Union memberships
- Professional associations
- Veterans benefits
5. Choosing the Wrong Policy Type
Don’t buy guaranteed issue if you qualify for simplified issue. The waiting period and higher costs make it a last resort, not a first choice.
Frequently Asked Questions
Can I get life insurance at age 80 without a medical exam?
Yes, several companies offer guaranteed issue policies up to age 85. Mutual of Omaha and Gerber Life both cover applicants in their 80s. However, coverage amounts are typically limited to $25,000 or less, and premiums are higher at advanced ages.
What health conditions disqualify you from simplified issue life insurance?
Common disqualifiers include:
-Cancer diagnosis or treatment in the past 2-5 years
-Heart attack or stroke in the past 2-5 years
-Insulin-dependent diabetes with complications
-COPD requiring oxygen
-Advanced kidney disease or dialysis
-AIDS or HIV with complications
-Current alcohol or drug abuse
If you have these conditions, guaranteed issue (which asks no health questions) may be your best option.
How much does no medical exam life insurance cost for seniors?
For a healthy 70-year-old non-smoker:
Simplified issue: $100-$150/month for $100,000 coverage
Guaranteed issue: $75-$100/month for $10,000 coverage
Costs increase with age and decrease with better health. Women typically pay 20-30% less than men for th
Is there a waiting period for all no medical exam policies?
No. Simplified issue policies typically have no waiting period—full coverage begins immediately. Guaranteed issue policies usually have a 2-3 year waiting period for natural death, though accidental death is covered from day one.
Can I convert my term no medical exam policy to permanent coverage?
Many simplified issue term policies include conversion options, allowing you to switch to whole life insurance without a medical exam within a specified time frame (often 5-10 years). Check your policy for conversion provisions.
What happens if I die during the waiting period?
For guaranteed issue policies, if you die from natural causes during the waiting period (typically 2 years), your beneficiaries receive:
-Return of all premiums paid
-Plus interest (usually 10%)
If death is accidental, the full death benefit is paid immediately, even during the waiting period.
Can I have multiple no medical exam life insurance policies?
Yes, you can purchase policies from multiple insurers. However, each company has limits on how much coverage they’ll issue without an exam. Total coverage across all insurers typically shouldn’t exceed your actual financial need.
–Whole life policies: Premiums are locked in and never increase
–Term policies: Premiums are level during the term but increase dramatically if you renew after the term ends
–Some senior policies: A few products have annual increases, so read the fine print
Can I cancel my policy if I change my mind?
Yes. All life insurance policies include a “free look period” of 10-30 days (varies by state) during which you can cancel for a full refund. After that, you can still cancel, but you won’t recover premiums already paid.
How quickly can I get coverage?
Simplified issue: Often instant to 48 hours
Guaranteed issue: Usually 1-3 business days
Some companies like Bestow and AIG offer instant decisions for qualifying applicants.
Do I need to name a beneficiary?
Yes, you must designate at least one beneficiary who will receive the death benefit. You can name:
-Primary beneficiaries (receive benefit first)
-Contingent beneficiaries (receive benefit if primary is deceased)
-Multiple beneficiaries with percentage allocations
You can change beneficiaries at any time by contacting your insurer.
What if I’m declined for simplified issue?
If you’re declined for simplified issue due to health questions, you can:
-Apply for guaranteed issue coverage (no health questions)
-Try a different insurer (underwriting standards vary)
-Work with an independent agent who knows which companies are more lenient
-Consider a graded or modified benefit policy
Take the Next Step
No medical exam life insurance makes it possible for seniors to secure coverage quickly and easily, even with health concerns. Whether you need $10,000 for final expenses or $500,000 to protect your family, there’s an option that fits your situation.
Ready to get started?
- Assess your needs: Calculate how much coverage you actually need
- Check your health status: Determine if you qualify for simplified or need guaranteed issue
- Get multiple quotes: Compare at least 3-5 companies
- Read the fine print: Understand waiting periods, exclusions, and terms
- Apply online or call: Most companies make it easy to apply in 10-15 minutes
Remember, the best time to get life insurance was yesterday. The second best time is today. Don’t wait until health issues make coverage more expensive or impossible to obtain.
Disclaimer: This article is for informational purposes only and does not constitute financial or insurance advice. Rates and policy features vary by state, age, health status, and insurance company. Always read policy documents carefully and consult with a licensed insurance professional before purchasing coverage.
