No Exam Life Insurance

No exam life insurance is a policy you can sign up for without a full medical exam. Instead, you answer a questionnaire that covers your medical history and lifestyle factors.

What does a no exam life insurance policy entail?

A traditional life insurance policy may require an application process that includes submitting to a full medical exam, which typically includes a blood test and a urine sample as well as a check of your weight, blood pressure, and cholesterol, the whole deal. 

That process can take some time—as much as six weeks. If you’re like a lot of people, that might push you away from buying life insurance until you’re a bit older and (maybe) more patient, but remember, as you get older, you’ll face higher premiums. 

Fortunately, there’s an alternative, which is where Lemonade’s life insurance offering comes in.

What’s the application process like for Lemonade life insurance?

No exam life insurance policies, like Lemonade’s life insurance offering, allow you to skip the medical exam in favor of a simpler application process, in which you simply answer some health questions using an online form or via a phone call.

Life insurance companies then use your responses to decide whether they can cover you and to come up with an estimate of what your policy will cost (a ‘quote’), meaning you can be approved or denied immediately. Then you just e-sign the papers and make your first payment to your insurer and presto, you’ve got life insurance and peace of mind!

At Lemonade, we realize that the process of shopping and applying for life insurance can be daunting, so we’ve tried to make it as seamless as possible. The application process is fully digital, and our helpful AI assistant Maya will walk you through each step. Meanwhile, if you’re curious about life insurance in general, we have a ton of resources to help guide your decisions.

Is Lemonade’s no exam life insurance offering right for me?

In the Covid-19 era, you may need a life insurance policy promptly but also need to follow social distancing guidelines… and thus not want a doctor all up in your face during a medical exam. 

If you’re in good health, and want to quickly and simply get a life insurance policy that would cover burial expenses, while also leaving money to carry your family into the future, Lemonade’s no exam life insurance offering might be right for you. The choice might suit you if you need to be covered quickly, and you don’t want to deal with an intrusive health exam. 

Know though that most no-exam life policies typically have lower limits and offer less coverage, dollar for dollar, when compared to their fully underwritten counterparts. That said, the term life insurance offered by Lemonade could be a solid match for your needs—feel free to consult an expert, or your financial advisor, if you need additional advice.

What is Lemonade’s no exam life insurance offering all about?

At Lemonade, we offer term life insurance policies that don’t require a medical exam. Our chatbot asks you medical questions about any health issues you might have, as well as your medical history and lifestyle, your desired coverage amounts, and how long of a term you’d like to be covered for. 

Then algorithms will figure out your risk profile by analyzing your digital medical and prescription records (with your consent, of course) instead of the traditional route of blood tests, urine samples, and physician’s statements. Lemonade’s life insurance offering is a no-exam term life policy that is also competitive in coverage and pricing when compared to traditional, fully underwritten policies.

If there’s no exam, what information will I need to provide?

Lemonade’s life insurance offering forgoes a medical exam. But we’ll still want to know a few key things about your medical history, like whether anyone in your family has died from medical conditions like cancer or heart disease before a certain age. Be sure to have that information handy, even if it means an awkward conversation with a family member you haven’t spoken to in a while. 

As always, if you don’t give your insurer 100% accurate information when it comes to health questions about your medical history and medical conditions (and, of course, make all your payments on time), life insurance companies won’t pay your loved ones the death benefit. When you’re applying for Lemonade’s life insurance offering, be sure to be truthful and straightforward.

I’m only 25. Why would I need Lemonade’s life insurance offering?

When you’re young, it’s easy to feel invincible. But life is full of unexpected twists and turns, as well as accidents we can never predict. So even if you’re in the prime of life, it can be a good idea to secure a life insurance policy that can help protect your loved ones if you’re no longer around.

Locking in Lemonade’s life insurance when you’re young, and in good health, will also help you land more affordable premium rates—and those rates are locked in for the entirety of your policy’s term.

What about guaranteed issue life insurance?

Guaranteed issue is what it sounds like: Everyone who applies will be accepted, and no medical exam is required. In fact, the applicant doesn’t even need to answer any questions about their personal medical background. Yes, that’s less work than Lemonade’s life insurance offering requires, since we require you to provide some basic personal info and health history.

While guaranteed issue life insurance might sound nice and easy, it’s not so simple. Premiums tends to be quite a bit higher than other policy options, since the insurance company—not knowing much about your health or lifestyle situation—is taking more of a risk. Also, the death benefit for guaranteed issue insurance is quite modest, and a series of waiting periods apply as well, meaning it’s not active immediately and won’t cover you if you pass away during those periods.

Lemonade’s life insurance offering won’t accept everyone who applies, but it might be the right fit for you, depending on your budget and circumstances.

Please note: Lemonade articles and other editorial content are meant for educational purposes only, and should not be relied upon instead of professional legal, insurance or financial advice. The content of these educational articles does not alter the terms, conditions, exclusions, or limitations of policies issued by Lemonade, which differ according to your state of residence. While we regularly review previously published content to ensure it is accurate and up-to-date, there may be instances in which legal conditions or policy details have changed since publication. Any hypothetical examples used in Lemonade editorial content are purely expositional. Hypothetical examples do not alter or bind Lemonade to any application of your insurance policy to the particular facts and circumstances of any actual claim.