What is No Medical Exam Life Insurance?

by Bestow Team | July 27, 2019

If 62% of Americans don’t want a medical exam to get life insurance, then why do 99% of insurance companies require it?

The insurance industry is not just old, it’s centuries old. In fact, the first life insurance policies in the U.S. were written in the 18th century. Obviously, we didn’t have the technology then (or even just a few years ago) that we do now, so medical exams have been a necessary step in the underwriting process. But times have changed, and technology along with it. Is it still necessary to undergo a medical exam to buy life insurance? For many of us, the answer is no.

What is No-Medical-Exam Life Insurance?

It’s exactly what it sounds like: no medical exam required to buy a life insurance policy.

If you’re unfamiliar with the world of life insurance, this may seem like NBD. But in reality, this is unique, and dare we say, disruptive.

The traditional way of buying a policy involves doctor’s appointments, lab tests, in-person interviews… it’s a lot of manual work in a manual underwriting process that can take weeks to even get a rate.

Now, accelerated underwriting is all about using technology to make the process of buying life insurance exponentially more efficient. As in, buy a policy in minutes — not weeks.

Instead of needle pricks and blood draws (ouch!), you fill out an online application asking basic questions about your lifestyle and health, then data and technology verify that information. And that’s what provides an instant underwriting decision. Sweet, right?

Who Can Buy Life Insurance Without a Medical Exam?

Generally speaking, healthy individuals between the ages of 21 and 45 may be eligible to buy a term life insurance policy online. (Bestow can underwrite policies for individuals up to age 60 for 10-year terms if approved.)

No one will vet your yoga class attendance record or that 26.2 sticker on your Subaru’s rear window. But if you are in overall good health, a no-medical-exam life insurance policy might be the right fit for you.

However, there are certain criteria that may prevent you from purchasing a policy without a medical exam. If you have a serious health condition (such as heart disease, cancer, or kidney disease) or risky hobbies (like deep water scuba diving or piloting non-commercial airplanes), you’ll likely need to speak to a licensed insurance agent to help you find a life insurance policy that fits your needs.

We’re Taking the Pricks Out of Life Insurance

Needle pricks, that is!

Bestow is helping a new generation protect their financial future. We believe term life insurance should be smart, affordable, convenient, and instant — and that means eliminating the medical exam altogether. Our policies are backed by two A+ (Superior) rated industry giants, so you know you’re getting high quality coverage, without the premium price tag.