The short answer
Non medical life insurance isn't a separate product. It's a term life policy, and for you the difference is mainly how carriers review the application and set the rate. Rules vary by carrier, so comparing several through an independent agent is the simplest way to find a good fit.
A medical exam is the part of applying that many people dread. For a lot of applicants, it is now optional.
Here is how no-exam term life works and how to compare it fairly.
Part of our complete guide: Term Life Insurance: The Complete Guide.
Quick answer
You still answer health questions; the insurer checks records. Decisions can be fast; amounts may be capped. Healthy applicants should compare exam and no-exam quotes.
MarketView Agency is an independent insurance agency (National Producer Number 18345705).
On this page
- Instant term life insurance: how non medical life insurance works
- What carriers look at
- Getting your application ready
- Is non medical life insurance a good fit for you?
- Non medical life insurance quotes online: what affects the cost of non medical life insurance for you?
- How to apply
- Common questions
- Do you need a medical exam?
- How no-exam decisions are made
- How insurers decide your rate
- Which term length fits which need?
- Is term life right for you?
- Frequently asked questions
Instant term life insurance: how non medical life insurance works
Term life insurance pays a death benefit to the people you name if you pass away during the term, which is usually 10 to 30 years.
The policy works the same way for everyone; what changes from person to person is how the carrier reviews the application and sets the rate.
Tip: Comparing several carriers through an independent agent is the simplest way to see which one fits your situation.
What carriers look at
Every application is reviewed the same basic way: your age, health, habits, the amount and the type of coverage. What differs is how each carrier weighs those details.
- Age when you apply.
- Health history and medications.
- Tobacco use and certain activities.
Compare rates from several carriers in about two minutes. Free, no obligation.
Getting your application ready
- Decide the purpose and amount.
- List medications and doctors.
- Compare several carriers.
Is non medical life insurance a good fit for you?
It can be, when there's a clear need: someone who depends on you, a debt or cost you don't want to leave behind, or a goal the policy is designed for.
- Often a good fit: you who want coverage they understand and can keep paying.
- Often a good fit: anyone who wants to compare several carriers before choosing.
- Maybe not: if existing coverage already meets the need.
- Maybe not: if the premium would strain your budget; a smaller amount may fit better.
Non medical life insurance quotes online: what affects the cost of non medical life insurance for you?
Rates are set by each carrier after it reviews your application, so this page doesn't list prices. These are the main factors:
- Age: rates are lower the younger you are when you apply.
- Amount and type: more coverage, or coverage that lasts longer, costs more.
- Health and tobacco use: these set your rate class with most carriers.
- The carrier: companies price the same person differently.
Because carriers price the same person differently, comparing several quotes is the most reliable way to see your options.
How to get covered in 3 steps
- Check your rate. Pick your state and answer a few quick questions about the coverage you want.
- Compare carriers. A licensed agent compares term life insurance options from several insurers and explains the trade-offs.
- Apply and get covered. Many applications take one phone call. Coverage starts once the policy is issued and the first premium is paid.
How to apply
- Decide how much coverage you want and for how long.
- Compare several carriers with an independent agent; underwriting rules differ more than most people expect.
- Answer every application question honestly and completely.
- Review the policy when it arrives. Every state gives you a free-look period to cancel for a refund.
Common questions
The short version:
What is the best non medical life insurance for ?
There's no single best policy. The right one depends on how much coverage you need, for how long, your budget and which carrier's underwriting fits your situation best.
Do you need a medical exam?
Many carriers now offer policies that can be approved without a medical exam. Instead of needles and a nurse visit, the insurer uses your answers, prescription history and other records.
- Faster. Decisions can come in days, sometimes the same day.
- Easier. No appointment and no lab work.
- Trade-offs. No-exam policies may cap the coverage amount, and some cost more than fully underwritten policies for healthy people.
Whether you qualify for a no-exam decision depends on your age, health history and the amount you want. Some applicants are moved to an exam partway through. An agent can tell you which carriers are likely to approve you without one.
How no-exam decisions are made
Many carriers use what they call accelerated underwriting. Your application answers are checked against records the insurer can pull in minutes: prescription history, the shared industry database of past applications, driving records and, with some carriers, medical claims data.
If everything lines up, you can be approved without an exam. If something needs a closer look, such as a recent diagnosis or a larger amount than the program allows, the carrier may ask for an exam or records. That isn't a decline; it's just the full process.
How insurers decide your rate
Every life insurance application goes through underwriting. That is the insurer's review of who you are, how healthy you are and how much risk the policy carries. The result is your rate class, which sets your price.
- Your answers. Health history, medications, tobacco or nicotine use, family history, travel and hobbies.
- Records. Prescription history, a shared database of prior insurance applications, and often your driving record.
- Sometimes an exam. A short visit from a paramedical examiner to check height, weight, blood pressure and lab samples.
- Sometimes medical records. For larger amounts or certain conditions, the insurer may ask your doctor's office for notes.
Insurers do not all weigh these things the same way. One carrier may treat a managed condition, like controlled blood pressure, more favorably than another. That is a big reason to compare several carriers rather than accept the first offer.
Be complete and honest on the application. Policies have a contestability period, usually the first two years, when the insurer can review a claim against what you said when you applied.
Which term length fits which need?
The right term ends when the need ends. This table shows common pairings.
| Term | Often used for | Things to weigh |
|---|---|---|
| 10 years | A short loan or a gap until savings catch up | Renewal later costs more |
| 20 years | Raising older children, a shorter mortgage | A popular middle ground |
| 30 years | A new 30-year mortgage, young children | Higher price, longest protection |
| Two policies | Needs that end at different times | Laddering can lower total cost |
Is term life right for you?
Often a good fit
- Parents with children at home. Homeowners with a mortgage. Anyone whose income supports others. People who want a lot of coverage at a lower price.
Maybe not the right fit
- People who need coverage for life, such as for final costs or estate planning. People who want cash value they can use later. In those cases, permanent coverage may fit better.
