To understand what a simplified issue no exam life insurance policy is, and whether or not it’s the right policy for you and your family, we’ll need to start by first:
- Defining what a simplified issue life insurance policy is.
- And then highlight both the “pro’s and con’s” associated with simplified life insurance policies.
So what is a “Simplified Issue” Life Insurance Policy?
Simplified issue life insurance DEFINITION: a no exam life insurance policy that provides complete coverage for both natural and accidental causes of death beginning immediately after the policy goes in force. Some simplified issue policies require background checks with the medical information bureau, a Rx database check and MVR database check. However, other simplified issue policies only require you answer a few health questions. The main point though is the life insurance coverage goes in force immediately upon approval. 
(This is important because unlike Guaranteed Issue Life insurance, a simplified issue life insurance policy will not contain a graded death benefit.)
Or in other words, not everyone will qualify for a simplified issue life insurance policy. You will need to meet a minimum health requirement. That is why it is important to understand the differences between guaranteed issue vs simplified issue life insurance.
NoExam Life Insurance Quotes
Top 15 Best No Exam Life Insurance Companies for Seniors
The following no exam life insurance companies for seniors list represents our current favorites. The list will change based on new products on the market. This list was last updated March 9, 2017.
LifeShield
A.M. Best: B++
Survivor Life – As a simplified issue insurance, Survivor Life is a type of ‘first to die’ coverage. Essentially, this means that two people are covered and the beneficiary receives the death benefit after the first insured passes away.
Features
- No medical exam required
- Face Amounts: $10,000 – $50,000
- Ages: 45 to 85
- Simplified Issue Whole Life Insurance
Christian Fidelity
A.M. Best: A-
Assurance Final Expense Whole Life Insurance – Over the years, Christian Fidelity has remained with their focus on the senior market despite being purchased by Oxford Life at the turn of the millennium. As a no medical exam life insurance option, their final expense policy is design to cover all the costs that might arise after death such as funeral expenses, medical bills, etc. After passing, the chosen death beneficiary receives the death benefit.
Features
- No Medical Exam required
- Face Amounts: $5,000 to $30,000
- Ages: 50 to 85
- Simplified Issue Whole Life Insurance
- Cash Value
- Level Premiums
See our Christian Fidelity review for more.
Fidelity Life
A.M. Best: A-
Rapid Decision Express – As the name suggests, this product has been designed with speed in mind and to remove the hassle that normally comes with purchasing life insurance. With a unique application system, they claim to have coverage in place within a matter of days. Once the coverage is in place, it will remain there until death.
Features
- Level Premium
- Ages: 0 to 95
- Simplified Issue Term Life Insurance
- Duration: 10, 15, 20, and 30 years
- No Medical Exam required
- No Health Questions
Senior Term 10 Graded – With a graded death benefit, the underwriting is simplified. However, the policy remains as a standard no exam term life insurance policy which means that a death benefit will be set. If the term is outlived, a reapplication process may be necessary.
Features
- Face Amounts: Up to $150,000
- Ages: 50 to 70
- Duration: 10 Years
- Graded Benefit: 3 Years
- Approval Time: Up to 48 Hours
See our Fidelity Life review for more.
Liberty Bankers Life
A.M. Best: B+
SIMPL Final Expense Preferred – As part of their whole life insurance plans, Liberty Bankers Life offer a ‘SIMPL’ option designed to protect your family. After you die, they will be awarded with the death benefit to cover all debts and final expenses as long as the premium payments are maintained.
Features
- Face Amount: 4 Different Payment Plans ($3,000 to $30,000)
- Ages: 18 to 80
- No Medical Exam Whole Life Insurance
See our Liberty Bankers review for more.
Family Benefit
A.M. Best: B+
Golden Eagle FE Plan – As a simplified whole life insurance plan for seniors, the ‘Golden Eagle’ is a permanent policy that will remain in place after being installed (assuming the premiums are met). In addition to the main features, there are also options to add riders including accelerated living benefit for terminal illness.
Features
- Face Amounts: $2,500 to $25,000
- Ages: 50 to 85
- No Exam Life Insurance
With this product, it is important to note that there is also a graded death benefit option depending on the needs of the individual. Available for those between 50 and 85, coverage starts at $2,000 and rises up to $10,000.
See our Family Benefit review for more.
Security National
A.M. Best: A
Simple Security Plan – Preferred – In total, Security National has three different plans – preferred, standard, and graded. Of the three, the preferred option is the cheapest and it keeps an individual protected without seeing a decrease in the death benefit.
Features
- Level Death Benefit
- Level Premiums
- Graded Benefit: No
- Riders: No
- No Medical Examination
- Some Health Questions
- Finer Details: Available as a Quote
See our Security National review for more.
Mutual of Omaha
A.M. Best: – A+
Term Life Express 10 – As a no medical exam term life insurance policy for seniors, this is a great way to receive coverage for a short amount of time. As you reach an older age, permanent insurance becomes less appealing and it sometimes isn’t required. Therefore, term life options can fill a gap.
Features
- Duration: 10 Years
- Face Amounts: $25,000 to $300,000
- Level Death Benefits
- Return of Premiums: Partial
- Riders: Accelerated Death Benefit or Living Benefit (and more)
Living Promise Level Benefit – Essentially, this is similar to a final expense policy to cover debts, medical bills, and various other costs after death. With this no medical exam policy in place, loved ones won’t be forced to find the finances after your death considering the average funeral now costs $10,000.
Features
- Ages: 45 to 85
- Death Benefit: 100%
- Face Amounts: $2,000 to $40,000
- No Medical Exam required
- Level Benefit
- Simple Medical Questions
See our Mutual of Omaha review for more.
Assurity
A.M. Best: A-
NonMed Term 350 – As a guaranteed premium no exam term life insurance policy, the premiums will remain the same for the life of the policy. Although it is term life initially, there is an option to convert before the end so it becomes permanent life insurance.
Features
- No exam life insurance
- Duration: 10, 15, 20, and 30 Years
- Age: 18 to 65
- Face Amounts: $50,000 to $350,000
- Riders: Accelerated Death Benefit (more optional)
LifeScape Level Benefit – Essentially, this is a policy made up in the same way as the NonMed Term 350 but the focus is very much on level benefits. With this in mind, it is a more permanent solution to the younger audiences who need more than a term life policy.
- Simplified issue life insurance
- Age: 18 to 65
- Level Benefit
- Face Amount – Up to $350,000
- Level Premiums
See our Assurity review for more.
Americo
A.M. Best: A
Ultra Protector I – Over the years, Americo has become known for its Ultra Protector series and this now boasts three different levels of coverage. Today, we are focusing on level ‘I’ as it offers full death benefit from the very first day. As usual, it is targeted at the senior audience and allows the peace of mind of a normal life insurance policy.
Features
- Face Amounts: $2,000 to $30,000
- No Medical Examination required
- Simple Health Questions
- Level Premiums
- Approval Time: Up to 48 Hours
- Riders: Accelerated Death Benefit
See our Americo review for more.
Phoenix Life
A.M. Best: A++
Safe Harbor Term Express – From one of the rare companies with the very best A.M. Best rating, the first product we have is the ‘Safe Harbor’ term life policy. As a short-term solution, it boasts a number of benefits and offers no exam level term life insurance for the duration of the policy.
Features
- Face Amounts – $25,000 to $400,000
- Ages: 18 to 80
- Duration: 10, 15, 20, and 30 Years
- Riders: Accelerated Death Benefit
- Level Premiums
- Simplified Issue
- ‘Free Look’ Period
Remembrance Life – In truth, this is one of the unique options we have here today because it offers a lump-sum benefit and the coverage can go beyond the age of 121 years. Regardless, it is a permanent no exam life insurance policy that will remain in place after installed for a single user.
Features
- Face Amounts: $10,000 to $100,000
- Ages: 30 to 80
- Riders: Accelerated Death Benefit
- Simplified Issue
- Level Premiums
- Lump Sum Death Benefit
See our Phoenix Life review for more.
Foresters
A.M. Best: A
PlanRight Level Benefit – When looking for simplified issue no exam whole life insurance for seniors, you need to be sure of a number of factors. Firstly, financial security is a big must and Foresters offer this with an ‘A’ rating. Furthermore, you need a plan that will last and cover the important costs after you die which is exactly what’s on offer here.
Features
- Face Amounts: Up to $35,000
- Ages: 50 to 85
- Death Benefit: 100%
- Riders: Accidental Death (optional)
- Simplified Issue
- Cash Value
See our Foresters review for more.
United Home Life
A.M. Best: A-
Express Issue Premier Whole Life – With United Home Life, they attempt to make the life insurance process easier than ever before and this can be seen in their application process. As a no exam whole life insurance policy, the insured can leave funds behind to cover debts, mortgage payments, funeral costs, and more.
Features
- Simplified Issue
- Guaranteed Death Benefits
- Cash Value
- Level Premiums
- No Medical Exam
See our United Home Life review for more.
American Amicable
A.M. Best: A+
Term Made Simple – Sometimes, finding simplified issue term life insurance for seniors can be a tricky task but this isn’t true for American Amicable. After death, the income tax free death benefit will be passed on to the beneficiary to be used however they wish.
Features
- Duration: 10, 15, 20, or 30 Years
- Level Premiums
- Face Amounts: $50,000 to $400,000
- Tax Free
- Riders: Accelerated Death Benefit
Golden Solution Level Benefit – If you need something a little more permanent, this no medical exam whole life insurance policy from American Amicable will provide you with the same protection but without having to worry about an end date.
Features
- Ages: Up to 85 Years
- Face Amounts: $15,000 to $25,000
- Level Premiums
- Graded Death Benefit (option)
- Return of Premium (option)
- Cash Value
- Level Benefits
See our American Amicable review for more.
Baltimore Life
A.M. Best: B++
Silver Guard I Level Benefit – As a simplified issue policy, this is available to all individuals looking for a no exam final expense insurance policy. With standard premiums and a level death benefit, this whole life policy might just meet your needs moving forward.
Features
- No Exam required
- Ages: 50 to 75
- Face Amounts: $15,000 to $25,000
- Level Premiums
- Level Benefit
- Simple Health Questions
See our Baltimore Life review for more.
Transamerica
A.M. Best: A+
Trendsetter Super 10 – As a no exam term life policy, this is perfect for those looking for short-term coverage to perhaps cover a mortgage or an expense that might not exist in ten years time. After the policy has ended, the coverage will be removed and you will have to reapply if you still need insurance.
Features
- Face Amounts: starting at $25,000
- Age: 18 to 80
- Duration: 10 Years
- Level Premiums
- Level Benefit
- Riders: Accelerated Death Benefit
Immediate Solution Preferred – With the immediate solution option, you will have a final expense insurance policy where your age and health might not play a role in the decision-making. Much like a normal policy, the death benefit will reach the beneficiary after the death of the insured.
Features
- No Waiting Period
- No Cancellation (as long as premiums are paid)
- Level Premium
- Finer Details: Similar to Above
See our Transamerica review for more.
Sagicor
A.M. Best: A-
Sage Term – With our final simplified issue insurance policy for seniors of the day, we have ‘Sage Term’ from Sagicor who have a strong financial rating from A.M. Best. This is no exam term life insurance that offers all the usual benefits.
Features
- Level Death Benefit (Until 95 Years)
- Duration: 10, 15, and 20 Years
- Face Amounts: $50,000 to $500,000
- Age: 18 to 65
- Level Premiums
- Option to Convert
- Simplified Issue
- Riders: Accelerated Death Benefit
Sage No Lapse Universal Life Insurance – provides no medical exam universal life insurance.
Features
- Level Death Benefit
- Face Amounts: $25,000 to $400,000
- Age: 16 to 65
- Level Premiums
- Simplified Issue
- Riders: Accelerated Death Benefit, Waiver of Premium, Children’s Term
See our Sagicor review for more.
So who will qualify for No Medical Exam life insurance?
Generally an applicant who is applying for a simplified issue no exam life insurance policy will need to meet a minimum health requirement and not have any serious pre-existing medical conditions within their medical history.
Sound vague? You betcha!
But that’s because these policies will generally not require an applicant to take a medical exam!
Instead, many of these life insurance no exam policies will simply require that an applicant answer 5 or 10 “medical related” questions which will then be used to determine if the applicant is eligible.
Now these questions will vary from company to company, but generally they are going to sounds something like:
- Are currently disabled due to an illness, confined to a hospital or nursing facility or require the use of a wheelchair?
- Have been diagnosed or treated by a member of the medical profession for cancer, coronary artery disease or any disease of the heart, brain or liver?
Insurers will also be looking for any:
- chronic kidney disease or kidney failure,
- muscular disease,
- mental or nervous disorders,
- history of drug or alcohol abuse,
- AIDS or AIDS Related Complex (ARC) diagnosis,
The insurance company may also choose to order:
- A prescription data base check,
- A DMV motor vehicle report,
- A credit check,
- And a MIB (Medical Information Bureau) check.
These background checks are done to determine whether or not they wish to insure the applicant for life insurance without a medical exam.
***Important note***
It’s quite possible that someone may be turned down for a simplified issue life insurance policy while still being eligible for a traditional fully underwritten life insurance policy.
The reason being: Insurance companies will often error on the side of caution when it comes to insuring someone with a simplified issue life insurance policy unless everything comes back perfect because of the limited information the company has to work with!
For example, with a simplified issue insurance policy, the insurance company hasn’t:
- Required a medical exam, so they have very little information to analyze when it comes to determine what your true health condition is like today!
- They also don’t have copies of your medical records, so they can only guess about the reasons why you may or may not have had particular medication prescribed to you in the past .
For this reason, insurance companies are typically going to be pretty cautious when it comes to insuring those with previous health conditions with a simplified issue insurance policy.
Ok, so now I know what a simplified issue insurance policy is, so let’s cut to the chase….. So tell me, what are the advantages and disadvantages of a no exam life insurance policy!
In short, the advantages of a simplified issue insurance policy are:
- Can be the more affordable burial insurance for seniors
- Simplified issue life insurance policies allow you to avoid discovering any medical conditions as a result of the medical exam.
- If you qualify, it’s great to avoid a medical exam. We’re often told by many of our clients that they don’t mind taking an exam. If fact, they’ll let us know that they are perfectly healthy, now flash forward two weeks when we get the results back from their medical exam and we learn that they have:
- High blood pressure,
- Or high cholesterol,
- Or maybe elevate blood sugar levels (Diabetes, its estimated that there are over 8 million un-diagnosed cases of diabetes in the United States today, are you one of them?),
- Etc..
- If you qualify, it’s great to avoid a medical exam. We’re often told by many of our clients that they don’t mind taking an exam. If fact, they’ll let us know that they are perfectly healthy, now flash forward two weeks when we get the results back from their medical exam and we learn that they have:
Had these same clients chosen to not take an exam, they would have applied for life insurance without any diagnosis of disease, or any prescription medications on their record. In other words, they would have applied at a preferred rate class.
Now after taking a medical exam, they will be applying for life insurance at whatever rate they now qualify for based on their lab results.
- Simplified issue no exam life insurance policies can provide complete life insurance coverage fast, typically within 24 to 72 hours.
- If you’re looking to protect you’re family in the event of your death, doesn’t it make sense to get insurance ASAP. If so, a simplified life insurance policy is probably your best bet.
- Simplified life insurance policies can be used for much more that just covering final expense and burial costs. In fact many simplified life insurance policies can vary in coverage from $5,000 all the way up to $500,000 in coverage.
Disadvantages to a simplified life insurance policy:
- If you don’t have the greatest health history, it may be better for you to take a medical exam to demonstrate that you’re currently in good health. Simplified issue no exam life insurance policies don’t look at your lab results. If you medical history points to some past issue it could lead you to being denied life insurance coverage.
- Simplified life insurance policies will typically have less rate classes to qualify for. For this reason, depending upon your health, the rate class that you qualify for with a simplified life insurance policy could be more expensive than it would be were you to apply for fully underwritten life insurance.
- Lastly, depending on how long you wish to keep your insurance, you may find that the term lengths offered with simplified life insurance policies may not meet you exact need. However, choosing a permanent policy, such as no exam whole life or universal life can remedy this problem.
For these and many other reasons it’s important to have a firm grasp on exactly what you want to achieve by becoming insured, and share this with your agent here at JustBuryMe.com so that he or she may guide you— to not only the right insurance type — but also the right insurance company!
So what are you waiting for! Give us a call today and see what we can do for you!