Do you need life insurance in under 20 min? Do you want to skip the exam? If you answered yes, you landed on the right page.
We have an exclusive quote engine and real-time application process allowing you to apply for life insurance online and get an instant underwriting decision. If approved, you’ll get an email with your policy number.
In this article, I will review Motorists Life’s no-exam term life along with sample rates, eligibility requirements, and plan highlights. Let’s dive in!
About Motorists Life
Motorists was born in 1928 and is a mutual company owned by the policyholders and not Wall Street. Motorists Life was founded in 1965 with its first policy written in 1967. Motorists Life has an A- (Excellent) rating according to A.M. Best. They market life insurance products through 14,000 independent agents around the country. Currently, Motorists is available in the following states: FL, GA, IL, IN, KY, ME, MN, NE, OH, PA, SC, TN, VA WV, WI.
Knockout Questions—Do Not Apply If
Knockout questions are designed to save everyone’s time early in the application process. If you answer “yes” to the questions below, you will not be able to go through the application process:
- Has the person applied for insurance in the last 12 months; has he/she been declined, rated, or issued “substandard”; or does he/she have a pending application for life insurance coverage with any company including Motorists Life Insurance Company? If “yes,” do not submit an application.
- Has the client ever been diagnosed with or treated for any of the following?
- Crohn’s Disease
- Hepatitis C
- ALS, Multiple Sclerosis or Muscular Dystrophy
- Cerebral Palsy or Parkinson’s Disease
- AIDS, AIDS-related complex (ARC) or HIV
- Within the last 10 years, has the client used, received treatment for, or been hospitalized for illegal drugs or alcohol?
- Within the last seven years, has the client had a heart attack or stroke, diabetes or cancer?
- Within the last five years, has the client been convicted of a DWI, DUI or OUI?
Motorists Real-Time Term Life Insurance
Term life insurance is coverage that won’t break your bank. It’s the simplest form of coverage you can buy because there is no cash value or investment component. Instead, you buy “pure insurance” for a specific duration ranging between 1 and 30 years with the most common being 20 years.
For that period, your premium and death benefit remain level, and, at the end of your term, you could drop the policy, convert it to whole life before age 70, or continue paying on an annual basis (ART) until policy maturity at age 95.
Motorists Real-Time Term is for those who do not want to take an exam, speak to a broker (which may not be wise), or have a phone interview. It is a transactional process that takes less than 20 min to complete, and it is all done online.
Real-Time Term Highlights
- Face amounts: $25,000–$500,000 (increments of $25,000)
- No medical exam needed as part of the underwriting process
- Underwriting decision within three minutes
- Ages 16–70 can buy 5- and 10-year plans
- Ages 16–65 can buy a 20-year plan
- Ages 16–48 can buy a 30-year plan
- Conversion to whole life before the end of the term period or the insured’s 70th birthday, whichever comes first
- Accelerated death benefit rider included at no extra cost
- Policy maturity at age 95
Motorists Life Insurance No-Exam Sample Monthly Rates
Male 20-year Term
Female 20-year Term
*All rates quoted on this page are for a super-preferred healthy individual who does not use tobacco. Monthly rates are updated as of July 2018 and are subject to underwriting approval.*
How Does Motorists Verify My Answers?
Motorists Life uses a powerful tool called Velogica along with a sophisticated algorithm that has access to public information and can reveal real-time records such as criminal history, Motor Vehicle Report, prescription data, bankruptcies, and information from the Medical Information Bureau (MIB).
The best news is that this tool is fully integrated into our application process and checks your answers after you submit the application. It’s worth mentioning that honesty is the best policy when you fill out an application for life insurance.
What to Expect After I Submit the Application
Within three minutes of applying, you will get one of four automated responses:
- Accepted: Congratulations! You have been approved at our premier rate!
- Accepted other than applied for: Congratulations! You have been approved at our preferred rate!
- Application is in process: About 10% of the time, the application will be referred to the underwriter for further review. You should hear back in 24 hrs.
How Is Motorists No-Exam Different from Other No-Exam Products?
- We represent a few other companies who offer no-exam term life policies such as Sagicor, SBLI, Transamerica, Foresters, and American National, among many others. However, none will let you apply directly online; instead, our application team will call to fill out the application with you over the phone and send it to the carrier for the underwriting process. The process of issuing a policy can take anywhere from a few days to weeks depending on your health history and other underwriting factors. When applying for Motorists Real-Time Term, the decision usually comes within three minutes.
- The maximum face amount you can buy through Motorists is $500,000. If you need a higher amount and still need a no-exam policy, North American offers up to $1,000,000 to qualified individuals.
- Motorists isn’t available in all states. If you live in a state where they don’t offer coverage, you will need to choose another option.
If you are looking for an instant life insurance decision and the idea of not taking an exam makes you dance and smile, give Motorists a try. Use the quote engine on the right side of the page to get a quote and fill out the application.
Buying no-exam life insurance costs more. If you are interested in getting the best possible rate and do not mind taking an exam or need a higher face amount, you can click here to get quotes from other companies.