$5 Million Life Insurance No Exam
Yes, it is now possible to purchase a $5 million life insurance policy without a medical exam! There are currently two top life insurance companies that offer five million in coverage without the blood test, urine same, blood pressure readings or height and weight measurements.
Let’s take a look at the underwriting requirements to qualify for a $5 million no paramed exam policy from both insurers.
Life Insurance Company A
Below are the specs and eligibility for a $5 million no medical exam life insurance policy from the first insurer.
- 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.
Sample 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.
Sample 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.
Life Insurance Company B
Below are the specs and eligibility for a $5 million no medical exam life insurance policy from the second insurer.
- 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.
Sample 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.
Sample 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 now two top life insurance companies that offer a $5 million life insurance policy without needing to undergo the medical exam. Both insurers are Superior rated and are among the most trusted life insurance companies in the country. Not everyone will qualify for a no-exam 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.
Brian is a nationally licensed insurance broker that has helped thousands of families and businesses since 2009.
