Best $5M Life Insurance No-Exam Companies 2024
Posted in Life Insurance Face Amount last updated on July 12, 2024Yes, it is now possible to purchase a $5 million life insurance policy without a medical exam! There are currently three top life insurance companies that offer five million in coverage without the blood test, urine same, blood pressure readings or height and weight measurements.
Below we’ll take a look at the rates, ratings and policy information for a $5,000,000 million no-exam life insurance policy from the nation’s top insurers.
Table of contents
Symetra Life Insurance Company
Below are the specs and eligibility for a $5 million no medical exam life insurance policy from Symetra Life.
- Founded 1957
- Rating A (Excellent)
- Ages 26-49 (for $5 million no-exam)
- Eligible products: level term life insurance for 10-30 years
- Standard (average) health class or better
- Conversion option
- Accelerated death benefit rider
*The underwriter/algorithm will have the ultimate decision if there is a need for additional underwriting such as the exam. A recent physical with labs will help in qualifying for the no exam policy.
Symetra Life No-Exam $5 Million Term Life Insurance Rates
| Age | Preferred Plus | Preferred | Standard |
|---|---|---|---|
| 30 | $71 | $102 | $191 |
| 40 | $110 | $164 | $282 |
| 50 | $323 | $427 | $734 |
Nationwide Life Insurance Company
Below are the specs and eligibility for a $5 million no medical exam life insurance policy from Nationwide.
- Founded 1926
- Rating A+ (Superior)
- Ages: 18-50
- Eligible products: level term life insurance (10-30 years), indexed universal life insurance and no-lapse guarantee universal life insurance
- No exam face amount: $100k to $5 million
- Standard (average) health class or better
- Conversion option
- Accelerated death benefit rider
*The underwriter will have the ultimate decision if there is a need for additional underwriting such as the exam. A recent physical with labs will help in qualifying for the no exam policy.
Nationwide No-Exam $5 Million Term Life Insurance Rates
| Age | Preferred Plus | Preferred | Standard |
|---|---|---|---|
| 30 | $89 | $124 | $229 |
| 40 | $216 | $286 | $535 |
| 50 | $352 | $457 | $877 |
| 60 | $1,113 | $1,284 | $2,224 |
*Monthly rates for a $5 million 10-year level term policy for a 40 year old male in excellent health. Rates include convertible term to permanent option.
Nationwide $5 Million No-Exam Universal Life Insurance Rates
| Age | Preferred Plus | Preferred | Standard |
|---|---|---|---|
| 40 | $2,577 | $2,878 | $3,637 |
*Monthly rates for a $5 million no lapse guarantee universal life insurance policy to age 121 for a 40 year old male in excellent health.
Penn Mutual Life Insurance Company
Below are the specs and eligibility for a $5 million no medical exam life insurance policy from Penn Mutual.
- Founded 1847
- A+ (Superior) rated
- Ages: 0-65 years old
- Standard (average) health class or better
- Eligible products: level term life insurance (10-30 years) whole life insurance, guarantee universal life insurance, indexed universal life, variable universal life
- Conversion option and non-convertible term options available
- Accelerated death benefit
*The underwriter will have the ultimate decision if there is a need for additional underwriting such as the exam. A recent physical with labs will help in qualifying for the no exam policy.
Penn Mutual $5 Million No-Exam Term Life Insurance Rates
| Age | Preferred Plus | Preferred | Standard |
|---|---|---|---|
| 30 | $82 | $104 | $195 |
| 40 | $125 | $177 | $323 |
| 50 | $373 | $493 | $812 |
| 60 | $1,057 | $1,288 | $2,030 |
*Monthly rates for a $5 million 10 year level term policy for a 40 year old male in excellent health. Rates include convertible term to permanent option. Non-convertible term is also available at a lower premium.
Penn Mutual $5 Million No-Exam Universal Life Insurance Rates
| Age | Preferred Plus | Preferred | Standard |
|---|---|---|---|
| 40 | $2,594 | $2,867 | $3,561 |
*Monthly rates for a $5 million no lapse guarantee universal life insurance policy to age 121 for a 40 year old male in excellent health.
Wrap Up
There are three top life insurance companies, Symetra Life, Nationwide and Mutual of Omaha that offer a $5 million life insurance policy without the need to undergo a medical exam. These insurers are highly rated and are among the most trusted life insurance companies in the country. Not everyone will qualify for a no-exam life insurance policy for $5 million, but those that do will by able to save time and have a less invasive accelerated underwriting application at the same rates as with the life insurance medical exam.
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