If you’re looking for no medical exam life insurance in NY, you’ve probably realized by now that it’s not going to be easy. The truth is, there very few companies that offer no exam life insurance in the state of New York. To make matters worse, there is a lot of misinformation out there.
No medical exam life insurance is one of the fastest growing segments in the insurance industry and there is not much of a mystery why this product is becoming so popular. Why take an exam for life insurance if you can skip the medical and get approved without the hassle?
If you live in Ohio, Arizona, California or just about anywhere else in the United States, you can get a no exam life policy approved in a matter of a few days, but here in New York, it’s almost impossible to find a company that offers life insurance without a medical exam.
The reason for this is simple: Regulation. New York State makes it very difficult for insurance companies to get new products approved.
But there are a handful of companies (see chart below) that have made it through New York’s stringent requirements and offer no exam life insurance policies.
What’s New For 2020?
William Penn – the New York division of Legal & General – has withdrawn it’s “Appcelerate” underwriting program in New York. In other words, William Penn is no longer offering policies without a medical exam.
Securian Life – July 31st 2020 – Important update to Securian’s WriteFit and WriteFit Express programs due to COVID 19. Please see Securian company review below.
Prudential has entered the NY no exam marketplace with their “Fast Track” accelerated underwriting program for eligible applicants ages 18 to 60.
What Companies Offer No Medical Exam Life Insurance Policies in New York? (Updated 07/17/2020)
(Click the links below to jump to the company you are interested in learning more about)
- American National Insurance Company (ANICO)
- Gerber Life
- MetLife – Brighthouse Financial
- New York Life
- Securian Financial
What Is No Exam Life Insurance?
There are three types of no medical exam policies:
Simplified Issue/Accelerated Underwriting – If you are in good health, this process is quick and easy. Accelerated Underwriting is an excellent fit for people in good health who wish to avoid a lengthy application process and get approved right away. To qualify for this product, the applicant cannot have serious health conditions, such as diabetes, heart disease or cancer. The application process simply requires answers to a series of health questions by e-application, motor vehicle report and prescription search.
Guaranteed Issue Life Insurance – Also known as a guaranteed acceptance policy, requires minimal health questions to be answered but no medical exam. This process has limited coverage amounts – usually $25,000 to $50,000. Coverage is available for anyone who applies – you cannot be denied.
Graded Death Benefit Life Insurance – Graded death benefit insurance is for people with serious health issues and can’t get a policy anywhere. The application usually involves a few health-related questions, but no medical exam is required. Usually during the first two years of coverage, full policy benefits are limited.
New York No Medical Exam Life Insurance Companies
American National Insurance Company (ANICO)
Signature Term NY: 10, 15, 20, 30 year term insurance
Accelerated Underwriting Program:
Xpress Term – No Medical Exam
Ages 0 to 65 – up to $250,000 – Standard and Substandard Rates Only!
Xpress Plus Term– No Medical Exam. Preferred Plus, Preferred, Standard Plus and Standard
Ages 18 to 50 – $250,000 to $1,000,000
Ages 51 to 60 – $250,000 to $500,000
Our #1 choice for a NY non medical exam life insurance policy. If you are relatively healthy, American National will approve your policy in less than 24 hours and will issue a policy in less than 1 week.
ANICO requires an E-application which is very simple to complete. Their underwriting process is very liberal and even if you have pre-existing medical issues, diabetes or if you smoke, you could still get approved, but at a standard rate.
See our in-depth review of American National
Ameritas Jet Issue Life Insurance
$100,000 to $200,000 Whole Life Insurance without a medical exam
Issue Ages: 18-45
Riders Available: Waiver of Premium, Total Disability Waiver, Accelerated Death Benefit, Paid-Up Option
Ameritas offers their Jet Issue for whole life only. Term and Variable Universal Life are not eligible for Jet Issue,
Although there is no exam, there is an application with medical questions. They also require a Tele-underwriting phone interview to confirm the questions answered on their application.
Approval Time: The application could be approved in 4 days. The underwriting classes are: Preferred Non Tobacco, Standard Non Tobacco and Standard Tobacco.
Gerber Life Insurance – Guaranteed Issue Program
$5,000 to $50,000 Whole life insurance with no medical exam
Issue Ages: 14 days to 18 years of age
Guaranteed Issue Whole Life For Adults
$5,000 to $25,000
Issue Ages: 50 – 80
Simplified Senior Whole Life
$25,000 to $100,000
Issue Ages: 50 – 80
Guaranteed Issue Whole Life: This is a Graded Death Benefit Policy with a 2- year waiting period for death benefits to be paid. This means that if you die in the first two years of the policy, your beneficiaries will not get the full death benefit. They will receive the premium paid thus far plus 10% interest.
There is no medical exam and there are no medical questions to be answered. You cannot be denied coverage as long as you are willing to pay your premiums. For example: $25,000 for a 50 year old male is about $108.00 per month.
Simplified Senior Whole Life: is a simplified issue policy with no medical questions for applicants 70 and under. If you are over age 71 medical questions could be asked and you can be denied a policy. Gerber Simplified policies are guaranteed to never increase their premiums and the policies earn competitive cash value rates.
Approval Time: The policy could be approved in less than 1 week.
BrightHouse Financial (formerly MetLife) – Premier Accumulator Universal Life (PAUL)
$100,000 to $1,000,000 Simplified Issue or No Exam Life Insurance.
Issue Ages: 18-75
Brighthouse Simplified Underwriting provides a simple, less invasive process with no exams and no labs. A simple underwriting offer is given with a yes or no answer.
Approvals are generally given within 24 hours following a telephone application and interview. Available for U.S residents and non-smokers.
Thoughts: If you are looking for a universal life policy with the “brand name” MetLife, this is a good option. If you want a term life policy with no exam and no hassles, see Securian or American National.
New York Life Simplified Term Life Insurance
$10,000 to $150,000 Term life insurance. No medical or lab work, just health information
Issue Ages: 30 – 75 up to $150,000
Age: 75- 79 up to $100,000
New York Life offers a Term life insurance policy without a medical exam. But they require the most background medical history than any other company being reviewed here.
The company will obtain medical information from your doctor, DMV and the Medical Information Bureau (MIB). The term life policy is a 5 year “banded” policy which means premiums increase as you enter each new five-year age band and will be based on the current rates at that time.
Approval Time: Up to 30 days or longer since they do a more detailed health history review.
Please Note: There are better choices than New York Life for no exam life insurance. Their underwriting process is complicated and time consuming. See American National or Securian if you want fast approval.
Prudential – Fast Track Accelerated Underwriting Program
Product Details: Most of Prudential’s Term and Permanent Products (excludes PruTerm One and Survivorship products)
- Ages: 18 to 60
- Face Amounts: $100,000 to $1,000,000
- Preferred, Nonsmoker Health Class
Prudential is one of the oldest and most admired insurance companies in the world and has just introduced their no exam underwriting program for qualified healthy candidates. Applications can be submitted online and a telephone interview must be completed within 48 hours.
Approvals: Usually take up to 4 or 5 days.
Securian Financial – Advantage Elite Select Term – Accelerated Underwriting
10,15, 20 or 30 year level term insurance. See our full Securian review.
While very few insurance companies do not offer accelerated underwriting programs in New York due to its regulatory environment, Securian is still committed to offering a fast, simple and contact-free underwriting experience.
However, due to the Worldwide Pandemic, changes to their accelerated underwriting program will become effective July 31, 2020. Please see new requirements below.
1. WriteFit Program: Face amounts greater than $250,000 up to $2,000,000 of coverage customers will be eligible for preferred, non-tobacco plus or standard rates only. Preferred select or “top class”offers will not be available. Coverage amounts of $250,000 to $2,000,000 for ages: 18-50 / For ages 51 to 60 available coverage amounts are $250,000 to $1,000,000 remain the same.
2. Writefit Express Program: for coverage amounts of less than $250,000, policies will be eligible for standard rates only. Preferred select, preferred and non-tobacco plus offers will no longer be available. This program is available for ages 18 to 54.
This company has made issuing an insurance policy quick and easy. Approvals are usually given within 24 hours after an eApp is completed.
We’re Here To Help
If you’re looking for no exam life insurance in NY we can help. We’re an independent agency that is licensed to do business with all these companies and many more. We represent over 30 life insurance companies and shop on your behalf to get you the best rate, at no extra cost to you! Give us a call at 914-633-1717 or contact us if you have any questions.