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For many seniors, an extra trip to the doctor’s office can be a major hassle. Perhaps you have mobility issues or don’t have adequate transportation available to you. Moreover, you may get a medical exam for a life insurance policy only to be turned down based on preexisting health issues. Fortunately, if you are over the age of 50 and in the market for a life insurance plan without a medical exam, there are options available to you.
AARP ranks among the best life insurance providers for seniors, as it offers a wide variety of plans, even if you don’t want to take a medical exam. For term life or simplified whole life plans, you will still be asked a few health-related questions, but most seniors can qualify without taking a trip to the doctor. Like most life insurance policies without a medical exam, AARP does set coverage limits. In fact, the highest coverage you can get with AARP’s no-medical exam whole life insurance is $50,000, or $100,000 with term life insurance.
State Farm is a great option if you are only looking for smaller payouts that will cover your final expenses. For example, if you have ample savings and a 401(k) that you can pass on to your beneficiaries, you may only want a final expense policy to cover your funeral and similar expenses. In this case, State Farm makes it easy to get the policy you need with set premiums, a high age limit, and no medical exam or health questions.
Thanks to its high coverage limits and varied simplified issue plans, Liberty Mutual is a great option for seniors who want to get more than a basic final expense plan. Liberty Mutual provides ample death benefits to beneficiaries with premiums that are set from the beginning of your plan. It’s important to remember that the age cutoff is just 65, so you will need to apply for your policy in advance. Additionally, if you have preexisting health issues, the lack of guaranteed issue policies means that your application could still get rejected.
USAA is not the best option for everyone, as it is only available to military service members, veterans, and their families. That said, the combination of final expense guaranteed issue plans and comprehensive simplified plans with high age limits makes USAA one of the best providers of life insurance without medical exams for seniors. On top of these benefits, you can expect excellent customer service and strong financial credentials.
When looking for life insurance that doesn’t require a health exam, there are several key factors to consider. First, if a provider does not require a medical exam, it doesn’t mean that they cannot reject you based on your health status. Many life insurance providers will still ask you health-related questions and your answers could affect your ability to qualify for a policy.
We researched each provider to see whether they offer life insurance to seniors without any health requirements or if they simply offer policies without health exams. In most cases, if there are no health requirements involved, the premiums tend to be much higher. We have narrowed down our list of insurance providers based on whether or not your health status is a factor, the overall cost of plans, the variety of plans with no medical exams, and the preset age limits.
|Starting premiums*||Age limit to apply||Guaranteed issue maximum coverage||Simplified issue maximum coverage|
|AARP||$18 per month||80||$25,000||$50,000|
|State Farm||$22 per month||80||$10,000||N/A|
|Liberty Mutual||$36 per month||65||N/A||$250,000|
|USAA||$20 per month||90||$25,000||$10 million|
*Premiums for life insurance plans vary based on your age, location, health status, and the type of plan. These are the average starting premiums as of 2022.
Typically, any type of life insurance that waives the requirement for a health exam or even a health questionnaire will cost you more. The premiums for no-med exam life insurance can be as much as double the cost of policies with a medical exam. This is due to the fact that the insurance provider is taking a greater risk by accepting your application without any knowledge of your current health.
In any case, the average cost of guaranteed issue life insurance or a comparable simplified issue plan for a 50-year-old is roughly $142 per month. This number increases substantially with age. Once you reach your retirement years, you will likely need to pay anywhere between $250 and $500 per month (or more) for a no-medical-exam policy. Fortunately, many providers have guaranteed premiums that do not increase over time; even if your premium seems high from the start, you can trust that the number will not change from one month (or year) to the next.
While the majority of popular term life insurance plans require a health exam, there are generally two types of whole life insurance that offer the possibility to avoid medical exams: simplified and guaranteed. Simplified issue plans are often reserved for younger, healthy individuals. That said, many providers extend simplified issue plans to seniors as well. Rather than taking a medical exam, you may need to answer a few simple health questions to meet the requirements and qualify.
Alternatively, a guaranteed issue plan is best for those who have either been rejected for simplified issue plans or have preexisting health issues that may exclude them from other types of life insurance. Guaranteed issue plans still have age requirements, but they have absolutely no health exams or health requirements in order to qualify. Guaranteed issue plans tend to be more expensive and put greater limitations on death benefits.
For this reason, final expense insurance often falls under the umbrella of guaranteed issue plans. These policies have relatively small death benefits ($5,000 to $35,000) to pay for funeral and burial costs. Additionally, many providers do not require any health exams as long as you are currently within the required age bracket to apply.
Here are a few tips to help you choose the best life insurance without a medical exam:
The most common types of life insurance available without a medical exam are whole life final expense plans. However, certain providers also offer term life and comprehensive whole life insurance plans without medical exams.
It depends on your circumstances. Some people with terminal illnesses have no choice but to get a guaranteed issue plan with no medical exam. However, if you have the option to get a cheaper plan with a medical exam, it may be worth it to save on your monthly premium.
While you can get a life insurance plan without answering any medical questions (like with guaranteed issue plans), you will need to provide some basic information about yourself and your beneficiaries when you apply.
Yes, you can get life insurance if you are sick. It is more difficult to get simplified life insurance or insurance that requires a medical exam when you are sick. For this reason, many people with chronic illnesses opt for plans without medical exams.
Since graduating from Harvard with an honors degree in Statistics, Jeff has been creating content in print, online, and on television. Much of his work has been dedicated to informing seniors on how to live better lives. As Editor-in-Chief of the personal… Learn More About Jeff Hoyt