$100,000 Term Life Insurance: Options for Coverage

$100,000 Term Life InsuranceThose that are interested in $100,000 term life insurance have several options to choose from. There are generally 2 categories to consider, policies that require an exam, and no exam policies. While it sounds great to buy a life insurance policy that does not require a physical medical exam, it may not be the right choice for you. We’ll explore options for policies with and without exams and which may be the right option for you, as well as which life insurance companies to consider.

When you’re shopping for life insurance, it’s important you find the perfect plan for you. There are several factors that you need to consider to ensure that you’ve got the best plan available. This blog is going to look at ways you can find an affordable policy to protect you and your family.

When to Choose a Medical Exam Policy

If you are in excellent health, you will always get a better price for life insurance with an exam, as opposed to without. Since a policy for someone young is cheap, there may not be much of a difference in pricing for $100,000 with or without an exam. If you are in your 20s or 30s, you may end up choosing the no exam option simply because its faster and easier than getting a policy that requires an exam. If, however, you are in your 50s or 60s the price difference can become more significant, and choosing a policy requiring a medical exam can be more appealing and the more economical choice.

For those that are in average health – for example those that may be 15 or 20 pounds above their ideal weight, pricing may be similar with and without an exam. This is why its best to compare pricing which you can do with our quote form on this page, or call us to discuss your specific situation.

Pre-existing Medical Conditions

If you have a pre-existing health condition you may not be able to get approved for a policy without an exam, and may need to have an exam to get approved. It really depends on what the health condition is, and which company you apply with for coverage. If you have a “minor” health issue, like Asthma, or type 2 diabetes, a no exam policy may be possible. More severe conditions such as Multiple Sclerosis, or past heart disease for example may require an exam. This is where we can speak and help determine the best option for you.

Recommended Insurance Providers for No Medical Exam Options

Although there are several companies offering no medical exam policies, they have different terms. Here is a brief look at two of the top companies and their respective strong points.

Fidelity Life:

This insurance company provides no medical exam policies for people up to 65 years old. One of the greatest advantages of Fidelity Life is the speed with which they approve policies. They make a decision in less than 24 hours. In addition, the overall process of getting term life insurance is easy, and it is convenient for people who do not have medical problems.


Although Transamerica does not require a medical exam, an attending physician statement is required. These are basically the medical records of an applicant, which will play a pivotal role in determining approval. As a result, the approval process is relatively longer. In many cases, the approval process takes between two and four weeks.

While Fidelity Life approves much faster than Transamerica, Transamerica typically has better rates, and since they review your medical records, if you do have some health issues, you have a better chance of getting approved.

One of the options advantages of any no exam policy is you’ll get approved for life insurance much faster than you can with a traditional insurance policy. If you apply for a traditional plan, you can wait up to two months to get approved. If you want life insurance as quickly as possible, a no exam plan is going to be the best option.

The Most Competitive $100,000 Term Life Insurance Providers

While the following companies have competitive rates for different types of life insurance and coverage amounts, they are especially affordable when it comes to $100,000 term life insurance.

A+ Rated Providers

A Rated Providers

Factors influencing rate include age of an applicant and duration of the $100,000 term life insurance. For example, if a 50-year old applicant wants a 20-year term, then Protective Life charges $23 a month, which is the best rate in that instance. At Standard Non Tobacco rate, the charge is $38 a month.

On the other hand, a 70-year old applicant will pay $150 a month for a 10-year policy at the Standard Non Tobacco rate.

Calculating your Life Insurance Needs

Before you purchase your life insurance policy, regardless of if you choose to take a medical exam or not, it’s vital you get enough coverage for your loved ones. Not having enough life insurance will leave your family with some leftover debts. There are two main categories you need to account for to ensure you’re getting the right amount of coverage.

The first thing you should add into the equation is your major expenses, like your mortgage and student loans. Your life insurance plan should be large enough to pay off those debts.

The next number to toss into the equation is your income. The second goal of your policy is to replace your monthly paycheck. If you’re one of the main income earners, your family would struggle without that money, but that’s where your life insurance comes in.

Using an Independent Insurance Agent

The quote above is a basic example of some of the quotes you could receive. The insurance company is going to look at dozens and dozens of factors when deciding how much they are going to charge you for insurance protection. Because there are so many factors, the rates you get from each company are going to vary wildly depending on the company you contact. If you have pre-existing health conditions, there are some companies are going to offer you much lower insurance premiums based on their underwriting. For example, some companies are much better at giving life insurance to applicants with diabetes.

It’s easy to see why it’s so important to get dozens of quotes before you decide which company is best for you. There are over 800 insurance companies on the market, all of them have different rates and products they offer. Instead of wasting your time calling those companies yourself, let one of our independent insurance agents do all of the work for you.

Unlike traditional insurance agents, we are a group of independent insurance agents. That means we don’t work with one single company, instead, we represent dozens and dozens of highly rated companies across the country. We can bring a personalized set of insurance quotes directly to you in a matter of minutes. Working with one of our agents can save you both time and money on your life insurance rates.

We know that shopping for life insurance can be a frustrating process, but it’s the best safety net you’ll ever buy for your loved ones. You never know what’s going to happen tomorrow, which means you shouldn’t wait any longer to get the insurance coverage that your family deserves.
If you have any questions about the types of life insurance, the companies that we represent, or how much coverage you should buy, please contact one of our agents today. We have years of experience working with all type of clients across the country. It’s our mission to ensure you’ve got the best plan to protect your loved ones.

The online quote comparison tool on this page can be used to compare rates. Alternatively you can call us at 888-552-6159 and we can discuss options for life insurance coverage with you.

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Doug Mitchell

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