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No Exam and Guaranteed Issue | What’s The Difference?

Written by Andrea Tolar

There are a few distinctions between the two plans that can make a huge impact on your life insurance protection. Before we look at the specifics, let’s take a broad view of the two types of plans. no exam or guaranteed issue life insurance

A no exam insurance plan is exactly what it sounds like, life insurance without the medical exam. These plans allow applicants to get coverage without being required to undergo the medical exam process. While you don’t have to take a medical exam, you will still have to answer the health questionnaire.

Guaranteed issue life insurance coverage is different in the fact that it doesn’t require a medical exam or any health questions. With these policies, there is no chance that you could get declined for coverage. As that you need to provide is your name, age, and where you live. After providing that basic information, you will have life insurance.

No Exam Vs. Guaranteed Issue: The Coverage

Aside from picking the right type of coverage, it’s vital that you buy enough life insurance. Not having enough coverage is a mistake you can protect your family from. If your life insurance policy is too small, then your family would be responsible for additional bills and final expenses that they would not have money to cover.

A no exam policy is going to offer you more coverage than a guaranteed issue plan. Most insurance companies will sell you around $250,000 or more with a no exam policy. Some companies are that will offer you as much as $500,000 or more, but those plans are rare.

With a guaranteed issue, the coverage is going to be much smaller. Most companies are only going to let you buy around $25,000 worth of life insurance. For most families, this will not be anywhere near enough coverage. These plans are typically only used to give families the money that they need to pay for a funeral or any burial expenses. These plans are much smaller and are much more specialized.

No Exam Vs. Guaranteed Issue: The Cost

One of the most important factors when deciding which kind of plan that you’re going to buy is the cost of the plans. First of all, both of these types of plans are going to be pricier than a traditional plan that requires a medical exam. If you want the cheapest life insurance coverage, a plan with the exam is the best option.

A good rule of thumb is, the more information that the insurance company gets about you, the less that they can charge you for insurance coverage. The companies use all of that information to calculate the risk you are to approve for coverage. The more risk that you are, the higher your premiums are going to be, but if the company doesn’t get the information, they are taking a much greater risk to provide you life insurance. They will offset that risk by increasing your premium rates.

Because a guaranteed issue plan doesn’t require a medical exam OR the health questions, the rates are going to be higher. You’ll pay more for every one dollar of coverage than you would with a no exam policy.

Getting Affordable No Exam Life Insurance Coverage

We know that shopping for life insurance is not a fun task, but we are here to help. It’s our mission to ensure that you’re getting the best plan available, and one important factor in that is the price. While no exam plans are going to be more expensive, there are several ways that you can lower your premiums rates and keep more money in your pocket.

One way is to cut out any tobacco that you currently use. If you’re listed as a smoker when you apply for no exam coverage, you’re going to pay more every month. In fact, smokers are going to pay at least twice as much for their coverage versus what an applicant that doesn’t smoke is going to pay. If you want to save money, it’s time to kick those bad habits once and for all.

The best way to save money is to compare dozens of companies before you decide which one is going to work for you. Every company is different, which means you’ll get drastically different quotes for a no exam plan depending on which company that you contact. If you want to ensure that you’re getting the lowest rates, you will need to find a company that is going to view your application more favorably. The best way to find that company is to work with an independent insurance broker. Unlike a traditional agent, independent brokers work with dozens of highly rated companies across the nation.

At, we pride ourselves on giving our clients the best personalized insurance quotes possible. Our experienced brokers represent some of the best no exam life insurance companies in the United States, and it’s our mission to bring the lowest premiums directly to you. If you have any questions about no exam or guaranteed issue life insurance, please contact us today.

About Growth 360, LLC
About Growth 360, LLC

Our specialty is life insurance without a medical exam. Let us help you decide if a non-med policy is right for you. Get a quote on this page, or contact us with any questions.

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