No-medical-exam life insurance is designed to simplify the application process, letting you skip the medical exam and bloodwork usually required for a life insurance policy. These policies, which utilize accelerated underwriting, can sometimes be more expensive. However, they can be an excellent choice for young, healthy individuals who value convenience or for those with health issues that might prevent them from obtaining a fully underwritten policy.
Investopedia’s experts have identified Penn Mutual as the leading no-exam life insurance company because they offer accelerated underwriting across their product range and provide the highest available coverage amounts.
Best No-Medical-Exam Life Insurance Companies
Here are the top picks:
- Best Overall, Best for High Coverage: Penn Mutual
- Best for Instant Decision, Best for Burial Insurance: Nationwide
- Best for Financial Stability, Best for Customer Satisfaction: Thrivent
Why Trust Us
This guide was compiled by Investopedia staff experts, who evaluated data from 45 life insurance companies across 70 criteria including coverage options, financial strength, and customer satisfaction. This deep analysis provides objective evaluations of each company, helping you choose the best provider for your needs.
Investopedia has been a trusted source of financial information since 1999, reviewing life insurance companies since 2020.
Best Overall, Best for High Coverage: Penn Mutual
- Financial Strength Rating: A+
- Complaints: Far fewer than expected for company size
Why We Chose It
Penn Mutual was a clear choice for this award, as they waive the medical exam requirement for eligible applicants seeking up to $10 million in coverage. This includes individuals aged 65 or younger, as well as those interested in permanent life insurance. Furthermore, the company boasts one of the highest financial strength grades from AM Best and a very low rate of customer complaints. The company’s long history of paying dividends at a high interest rate also earned high marks from our experts.
Best for High Coverage
Penn Mutual’s coverage cap for its accelerated underwriting policies is $10 million, significantly higher than the $5 million offered by runner-up Nationwide. This allows more people to secure needed coverage without having to undergo a medical exam.
Pros & Cons
Pros:
- Up to $10 million in coverage with no exam.
- No-exam policies available to those aged 65 and under.
- Offers a wide variety of term and permanent policies.
- Superior financial strength rating.
- Very few customer complaints to state regulators.
Cons:
- Few riders available with term policies.
- Limited online information for customers.
- No self-service online quotes.
Overview
Penn Mutual may enable you to forego the medical exam if you’re under 66, in good health, and seeking up to $10 million in death benefit on an individual life insurance.
However, Penn Mutual’s no-exam coverage is unavailable in New York. Qualifying for accelerated underwriting doesn’t guarantee that an exam won’t be required. If approved, the entire process can be completed online with the help of a Penn Mutual insurance professional.
Penn Mutual distinguishes itself through its wide array of policy types with accelerated underwriting including term, whole, and universal life insurance policies (including convertible and non-convertible term policies and indexed universal and variable universal policies), and a few different whole life insurance policies with optional riders. Term policy rider choices are more limited, and the company does not offer accelerated death benefits. Additionally, you cannot use some of your death benefit if you get a serious illness while you are alive.
Penn Mutual obtained an A+ financial strength rating from AM Best, indicating a superior capability to meet its claims-paying obligations.
Customers also express a high degree of satisfaction with Penn Mutual. The company’s National Association of Insurance Commissioners (NAIC) Complaint Index indicates that far fewer complaints were filed with state regulators than expected for a company of its size. In the 2024 J.D. Power U.S. Individual Life Insurance Study, Penn Mutual ranked above average, placing eighth out of 21 large insurers.
Penn Mutual has provided dividends to eligible policyholders for 175 consecutive years, and its 2025 dividend interest rate was the highest among companies offering no-exam life insurance. Finally, rates for term life insurance are competitive compared to industry averages.
A notable downside to applying for a no-exam policy with Penn Mutual is the necessity of working with an insurance agent. The company’s website does not provide a quote tool or application and offers scant information about policy options, so you’ll need to contact an agent for details. However, Penn Mutual does provide an online portal for existing policyholders and beneficiaries to make payments or initiate a claim.
Founded in 1847, Penn Mutual is headquartered in Horsham, Pennsylvania, just outside Philadelphia.
Best for Instant Decision, Best for Burial Insurance: Nationwide
- Financial Strength Rating: A+
- Complaints: Far fewer than expected for company size
Why We Chose It
Best for Instant Decision
Nationwide offers instant decisions on applications for 10- and 20-year term life insurance for those aged 21 to 55 applying for a maximum of $1.5 million in coverage. For those desiring a convertible policy with living benefits, the company also provides accelerated underwriting of up to $5 million in coverage, a feature that allows healthy applicants to obtain a policy without a medical exam.
Best for Burial Insurance
Existing Nationwide auto or home insurance policyholders may be eligible to purchase a whole life insurance policy with simplified underwriting. This means you may be asked health-related questions but will not need to undergo a full medical exam. However, simplified underwriting is not available for term policies.
Pros & Cons
Pros:
- Instant decisions available on certain term life insurance applications
- Up to $5 million in no-exam coverage available
- Few customer complaints to state regulators relative to its size
- Ranked #5 out of 21 by J.D. Power for customer satisfaction
- Wide selection of riders with most policies
Cons:
- Final expense policies only for existing home or auto policyholders
- Many policies not available for online purchase
Overview
Nationwide offers both instant-decision term insurance and accelerated underwriting on a range of term, whole, and universal life insurance products, with coverage starting at $100,000. Healthy applicants between 18 and 50 can qualify for up to $5 million in coverage without a medical exam. Those aged 51 to 60 are eligible for coverage up to $1 million. While Penn Mutual’s coverage limits and application requirements for no-exam policies are less restricted, most Nationwide policies come with three living death benefit riders at no additional cost. Also, a wide selection of other riders is included in many policies.
Nationwide is a strong choice overall, making it top the list of the best life insurance companies. The company excels at customer satisfaction, ranking fifth in the J.D. Power 2024 U.S. Individual Life Insurance Study, and receiving far fewer complaints than expected for a company of its size, according to the National Association of Insurance Commissioners (NAIC).
AM Best awarded Nationwide with an A+ financial strength rating, showing that the business has a “superior” ability to meet future insurance obligations. You’ll have to contact an insurance agent for other applications beyond the 10- or 20-year term policy for instant decisions.
Based in Columbus, Ohio, Nationwide was founded in 1926.
Best for Financial Stability, Best for Customer Satisfaction: Thrivent
- Financial Strength Rating: A++
- Complaints: Far fewer than expected for company size
Why We Chose It
Best for Financial Strength
Thrivent obtained an A++ from AM Best, representing the highest possible financial strength grade, which means they have superior resources to pay claims.
Best for Customer Satisfaction
Thrivent’s NAIC complaint index is superior—it’s the lowest among all no-medical-exam life insurance companies reviewed. Customers file far fewer complaints than expected for a company of Thrivent’s size. Only Christians and their spouses are eligible to become members.
Pros & Cons
Pros:
- Highest financial strength grade from AM Best
- Best NAIC complaint rating of the companies Investopedia reviewed
- No-exam decision possible for up to $3 million in coverage
Cons:
- Only available to Christians and their spouses
- Few available riders
- No online application
Overview
Thrivent may be a fit for Christian applicants looking for term insurance without a medical exam from a company that outperforms most competitors in financial strength and customer satisfaction. Healthy applicants aged 18 to 60 may qualify for up to $3 million in term life insurance without a medical exam. Your premiums will remain fixed for the duration of your term. You can convert the policy to permanent coverage during the first five years (or later with the extended term conversion rider). When your term ends, you can renew it annually at increasing rates.
If you’re willing to take a medical exam, you can apply for one of Thrivent’s adult whole, universal, or variable universal life insurance policies, but the coverage limits on those policies are not disclosed. Thrivent’s whole life insurance is available to applicants up to age 90, the highest maximum issue age of the providers we reviewed. Most policies include an accelerated death benefit rider for terminal illness, but the only other rider is the extended term conversion rider, which you’ll need to buy if you’re interested.
To buy a policy, you must apply for membership. Members gain access to benefits, including caregiver resources, out-of-pocket health discounts, $10,000 in life insurance for uninsurable children, and more. There are also programs that allow involvement in community organizations such as Habitat for Humanity.
Founded in 1902, Thrivent is headquartered in Minneapolis.
