Million Dollar No Exam Term Life Insurance Rates

$1 million no-exam term life insurance company rate comparison table

Did you know it is now possible to get a million dollar no exam term life insurance policy?

Several of the oldest, largest and highest rated life insurance companies in the country now offer up to $1 million in life insurance without the medical exam.

Also, several newer life insurance online platforms, called fintech or insurtech are now making the life insurance buying process by make the process quicker and easier by making it 100% digital without the medical exam underwritten by highly-rated life insurance companies.

One Million Dollar No Exam Term Life Insurance Requirements

Below is a checklist to see if you can qualify for a $1 million life insurance policy without the medical exam:

  • Between the ages of 18-60
  • Applying for $1 million of term life insurance or less
  • In good health with full disclosure of health history on the application
  • Body Mass Index (BMI) between 17 and 40

*Each company has their own underwriting guidelines to qualify for a no-exam $1 million policy.

Sample $1 Million No Exam Term Life Insurance Rates

Below are the monthly rates for a $1 million no-exam term life insurance policy for a old male and female: 10, 15, 20, 25 and 30 year term.

The table below compares the best no-exam term life insurance rates between: Banner Life, Bestow, Ethos, Fabric, Ladder Life, Lemonade, Lincoln Financial, Pacific Life, Sagicor, Sprott and Symetra for a $1 million no-exam term life insurance policy.

CompanyGender10-Year15-Year20-Year25-Year30-Year
Banner Life*Male$40$45$52$77$96
Banner LifeFemale$32$36$43$60$74
BestowMale$58$65$71$111NA
BestowFemale$37$45$48$80$81
EthosMale$52$56$81NA$128
EthosFemale$38$53$65NA$98
FabricMale$44$60$75$101$128
FabricFemale$39$50$61$81$102
Ladder LifeMale$37$48$61$97$114
Ladder LifeFemale$35$46$52$77$88
Lemonade Male$58 $65 $71 $111 NA
Lemonade Female$37 $45 $48 $80 $81
Lincoln Financial*Male$27$34$50NA$94
Lincoln Financial Female$25$33$42NA$76
Pacific Life*Male$27$34$49$78$93
Pacific LifeFemale$25$32$42$62$75
SagicorMale$36$42$55NANA
SagicorFemale$30$35$40NANA
SprouttMale$60$69$84NANA
SprouttFemale$45$53$65NANA
Symetra *Male$23$35$51NA$96
Symetra Female$21$33$42NA$76
$1 Million no medical exam term life insurance rate chart

-Rates based on an applicant in excellent health profile, D.O.B. 7/1/1981, no tobacco use, excellent credit, excellent BMI, no adverse family history and other underwriting factors. Rates are the best rate available for each company. Some of the companies may request a no-cost exam, if the applicant doesn’t meet the no-exam underwriting guidelines for a $1 million term life insurance policy.

*Accelerated underwriting life insurance. After completing the application a medical exam and or medical records could still be requested at the discretion of the underwriter for: Banner Life, Lincoln Financial, Fabric, Pacific Life and Symetra.

-Bestow, Ethos, Ladder Life, Lemonade, Sagicor and Sproutt are 100% no-medical exam instant decision life insurance.

Prequalifying Questions

To qualify for a $1 million no-exam term life insurance policy you must be able to answer “No” to the following questions:

  • Not recently declined by another carrier for medical or criminal history reasons
  • No history of criminal activity in the past 10 years
  • No DWI/DUIs in the past 5 years
  • Pending medical tests
  • No indication of high insurance shopping activity with poor disclosure
  • BMI < 40

If you answered “Yes” to any of these questions you may still qualify for a one million dollar life policy but you would need to complete the 30-minute no-cost paramed exam. Each company has their own guidelines to qualify for the no-exam option, the ones above are from Bestow.

Medical Requirements Check List

In order to be eligible for a one million dollar life insurance policy without the medical exam, most companies will not allow any of the following medical conditions below:

● Alcohol abuse
● Amyotrophic lateral sclerosis
● Aneurysm
● Bipolar disorder
● Cancer
● Cardiomyopathy
● Chronic hepatitis
● Chronic kidney disease
● Chronic obstructive pulmonary disease
● Diabetes (Type 1)
● Eating disorder
● Heart disease or failure
● HIV positive or medically diagnosed as having AIDS
● Huntington’s disease
● Liver cirrhosis
● Multiple sclerosis
● Organ transplant
● Peripheral arterial disease
● Post-traumatic stress disorder
● Psychosis
● Schizophrenia
● Sickle cell disease
● Stroke
● Systemic Lupus
● Any use of cocaine, methamphetamines, heroin, opioids, hallucinogens or any controlled substance not prescribed by a physician facility or hospice
● Recent disability payments
● Recently confined to a wheelchair,had any memory impairment, or used supplemental oxygen

If you answered “Yes” to any of these questions you may still qualify for a one million dollar life policy but you would need to complete the 30-minute no-cost paramed exam. Each company has their own guidelines to qualify for the no-exam option, the ones above are from Bestow.

Best $1 Million No Exam Life Insurance Companies & Details

Below are the best life insurance companies for a $1 million no-exam term life insurance policy. Details include: issue ages, ratings, reviews, year founded and term lengths available.

Banner Life

  • Policies underwritten by: Banner Life Insurance Company
  • Founded: 1836 (Legal & General)
  • A.M. Best Rating: A+ (Superior)
  • $1 Million No Exam Eligible Ages: 20-40
  • Terms Available: 10, 15, 20, 25, 30, 35 and 40 years
  • Banner Life Trustpilot Reviews: 4.2 out of 5

Bestow

  • Policies underwritten by: North American Company for Life and Health
  • Founded: 1886 (North American Company for Life and Health)
  • Bestow founded: 2016
  • A.M. Best Rating: A+ (Superior) North American Company for Life and Health
  • $1 Million No Exam Eligible Ages: 18-60
  • Terms Available: 10, 15, 20, 25 or 30 years (depending on age)
  • Bestow Trustpilot Reviews: 4.7 out of 5

Ethos

  • Policies underwritten by: Banner Life Insurance Company, TruStage/CMFG Life Insurance Company, AAA Life Insurance
  • A.M. Best Rating: A+ (Superior) (Banner Life Insurance Company)
  • Founded: 1836 Banner Life (Legal & General)
  • Ethos Founded: 2016
  • $1 Million No Exam Eligible Ages: 20-65
  • Terms Available: 10, 15, 20, 30 years (depending on age)
  • Bestow Trustpilot Reviews: 4.6 out of 5

Fabric

  • Underwritten by: Vantis Life- A Penn Mutual Company
  • Founded: 1942 Vantis Life, Founded: 1847 Penn Mutual
  • Founded: 2015 Fabric
  • A.M. Best Rating: A+ (Superior) Vantis Life
  • $1 Million No Exam Eligible Ages: 21-60
  • Terms Available: 10, 15, 20, 25 or 30 years (depending on age)
  • Fabric Trustpilot Reviews: 4.8 out of 5

Ladder Life

  • Underwritten by: Allianz Life Insurance Company of North America and Fidelity Security Life Insurance Company
  • Founded: 1896 (Allianz Life Insurance Company), Founded: 1969 (Fidelity Security Life Insurance Company)
  • Founded: 2015 Ladder Financial (Ladder Life)
  • A.M. Best Rating: A+ (Superior) Allianz Life Insurance Company, A (Excellent) Fidelity Security Life Insurance Company
  • Terms Available: 10, 15, 20, 25 or 30 years (depending on age)
  • Ladder Life Trustpilot Reviews: 4.8 out of 5

Lemonade

  • Lemonade Life Insurance Agency is a sub-producer of Bestow Agency
  • Policies underwritten by: North American Company for Life and Health
  • Founded: 1886 (North American Company for Life and Health)
  • Lemonade founded: 2015
  • A.M. Best Rating: A+ (Superior) North American Company for Life and Health
  • $1 Million No Exam Eligible Ages: 18-60
  • Terms Available: 10, 15, 20, 25 or 30 years (depending on age)
  • Lemonade Trustpilot Reviews: 4.3 out of 5

Lincoln Financial

  • Underwritten by: Lincoln National Life Insurance Company
  • Founded: 1905
  • A.M. Best Rating: A+ (Superior)
  • $1 Million No Exam Eligible Ages: 18-60
  • Terms Available: 10, 15, 20, or 30 years (depending on age)
  • Lincoln Financial Trustpilot Reviews: NA

Pacific Life

  • Underwritten by: Pacific Life Insurance Company
  • Founded: 1868
  • A.M. Best Rating: A+ (Superior)
  • $1 Million No Exam Eligible Ages: 18-60
  • Terms Available: 10, 15, 20, 25 or 30 years (depending on age)
  • Pacific Life Trustpilot Reviews: NA

Sagicor

  • Underwritten by: Sagicor Life Insurance Company
  • Founded: 1849
  • A.M. Best Rating: A- (Excellent)
  • $1 Million No Exam Eligible Ages: 18-45
  • Terms Available: 10, 15 or 20 years (depending on age)
  • Sagicor Trustpilot Reviews: 2.6 out of 5

Sproutt

  • Sproutt is an online life insurance broker that represnts many top companies such as: AIG, Symetra, Americao, Security Mutual, Principal, SBLI, Sagicor, North American, EMC National, Assurity, John Hancock, Lincoln National, Nationwide and Pacific Life.
  • Founded: 2018
  • Carriers they represnt date back to 1849
  • $1 Million No Exam Eligible Ages: 18-55
  • Terms Available: 10, 15 or 20 years (depending on age)
  • Sproutt Trustpilot Reviews: 4.7 out of 5

Symetra

  • Underwritten by: Symetra Life Insurance Company
  • Founded: 1957
  • A.M. Best Rating: A (Excellent)
  • $1 Million No Exam Eligible Ages: 20-60
  • Terms Available: 10, 15, 20 or 30 years (depending on age)
  • Symetra Trustpilot Reviews: NA

Bottom Line

You may qualify for a $1 million life insurance policy without a medical exam, blood draw or do a urine test from some of the top life insurance companies in the country.

With advancements in life insurance underwriting, it is now possible to a no medical exam $1 million term life insurance policy with an A Excellent or A+ Superior rated company if you meet the qualifications.

As you saw saw in our $1 million no-exam term life insurance company rate comparisons table above for 10, 15, 20, 25 and 30 year terms there are now more than ten life insurance companies to secure one million dollars of term life insurance without the exam if you are healthy and between the ages of 20-60.

FAQ- Frequently Asked Questions

Are there health questions for a $1 million no exam term life insurance policy?

Yes, while you may be able to skip the medical exam, the life insurance application is still going to include health and lifestyle questions to properly assess the risk and health class.

Is there a waiting period for a $1 million no exam term life insurance policy?

No, term life insurance does not have a waiting period. You are covered from day one for the full $1 million policy.

What happens if I don’t qualify for a one million dollar no-medical exam policy? (see how worded on sites)

If you don’t qualify for the no-medical exam option, the underwriter may request the 30-minute no-cost medical exam. It is quick and easy and done in the convenience in your home, office or you can go to their office.

Are there any exclusions on a million no exam term life insurance policy?

There are two exclusion on all term life insurance polices. 1. Two-year suicide clause. The life insurance policy will not pay out if the insured commits suicide in the first two years of taking out the policy. 2. If there is material misrepresentation on the application and the insured dies in the first two year the life insurance policy the insurance company can contest the policy deny the claim.

What term lengths are available for a one million no exam life insurance policy?

The most common term lengths are: 10, 15, 20, 25 and 30 year terms.

How old can you be to be eligible for a million dollar no exam term life insurance policy?

20 to 60 years old is the most common age range to be eligible for a $1 million no-exam term life policy.

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