Want to protect your loved ones without overspending on extra coverage? A $250,000 life insurance policy can help cover final expenses, pay off debts, or provide a financial safety net for your loved ones.
Even if you have health concerns, you may still qualify for coverage. Often, no medical exam is needed. At SelectQuote, we aim to find the best option for your needs and budget.
Why No-Exam $250,000 Life Insurance Matters
Life gets busy. Managing work, family, and health concerns can be challenging.
That's where no-exam life insurance comes in. Skip the doctor's visit and get a $250,000 life insurance policy faster and with less hassle.
These policies are helpful if you're:
Managing a health condition and need affordable coverage.
Haven't seen a doctor recently.
Want quick coverage for peace of mind.
Simply prefer not to do an in-person exam.
Many leading insurance companies offer policies that don’t require a medical exam. You can easily compare options and apply in just minutes.
What “No Exam” Really Means
When people hear "no medical exam," they often assume it means no health questions at all. But that's not entirely true.
You may be required to answer basic health questions and provide your prescription history. The main difference is that you won’t have to go through a physical exam, blood tests, or lab work.
There are two main types of no-exam policies:
Simplified Issue: There's no medical exam, but you'll answer a short health questionnaire. This works well for healthy people who want coverage without delays.
Guaranteed Issue: These policies do not include exams or health questions. They are especially useful for people with more complicated health issues. However, expect higher premiums and fewer coverage options.
People with pre-existing conditions can often still get a $250,000 life insurance policy. This is especially true with simplified issue options. The key is to find a policy that fits your health needs, financial goals, and future plans.
$250,000 Life Insurance for Seniors
If you’re a senior considering life insurance, a $250,000 policy can safeguard your loved ones and your legacy.
This level of coverage can:
Cover final expenses, medical bills, or outstanding debts.
Leave a financial gift for children or grandchildren.
Ease the financial burden on surviving spouses or caregivers.
Age may affect your premiums, but it doesn't mean you can’t secure coverage. SelectQuote partners with trusted providers to help older adults obtain senior life insurance, often without a medical examination.
Understanding the Cost of a $250,000 Life Insurance Policy
One of the most frequently asked questions about life insurance is: How much will it cost me?
A $250,000 life insurance policy might be more affordable than you think, especially if you're healthy or exploring term life options.
Several factors determine your monthly premium, including:
Your age
Health history
Smoking status
Gender
Type of policy (term vs. whole life)
Policy term length
To give you a general idea of what to expect, we've included average monthly rates below. These estimates can help you compare options or plan your future budget.
Average Monthly Rates for a $250,000 Term Life Insurance Policy
Age | Term Length | Male (Monthly) | Female (Monthly) |
25 | 20 years | $11.99 | $10.56 |
35 | 20 years | $13.19 | $11.57 |
45 | 20 years | $25.73 | $20.97 |
55 | 20 years | $59.13 | $44.49 |
Average Monthly Rates for a $250,000 Whole Life Insurance Policy
Age | Male (Monthly) | Female (Monthly) |
25 | $68.55 | $64.17 |
35 | $102.71 | $90.79 |
45 | $144.80 | $123.02 |
55 | $208.91 | $170.09 |
Table rates are 10- and 20-year $250,000 term policies and $250,000 whole life policies for men and women in excellent health from one or more of the trusted companies we represent. Term life insurance rates were pulled 6/2025. Whole life insurance rates were pulled 2/2025. Your price could vary depending on your health, issuing company, and other factors. Not available in all states
What affects the cost of your $250K policy?
The rate for your $250,000 life insurance policy will depend on personal factors. Here's what is taken into account when determining your premium:
Age: Your rate will be lower if you're younger because life insurance costs go up with age. Getting coverage early can save you money in the long run.
Health: While pre-existing conditions might not disqualify you, they can influence your rate. Some no-exam policies help people with common health issues such as high blood pressure and diabetes.
Tobacco Use: Smokers often pay higher premiums. If you quit smoking, be sure to mention it. You may be offered better rates after you've been smoke-free for a period.
Term Length: A shorter term, like 10 years, generally costs less per month than a 30-year policy. However, the best choice for you depends on your financial goals and how long you want your coverage to last.
Policy Type: Term life insurance can be more affordable than whole life. Whole life policies provide lifelong coverage and a cash value component, but with a higher monthly premium.
Not sure where to start? Our licensed insurance agents can help you select options based on your age, health, and coverage goals. This way, you can make a confident, informed decision.
Types of $250,000 Life Insurance Policies
Life insurance policies vary. Understanding these differences helps you choose the right one for your needs and budget.
Here are the most common types of $250,000 life insurance policies you'll see:
Simplified Issue Life Insurance
Simplified issue policies are popular because they don't require a medical exam. You usually complete a brief health questionnaire. Insurance providers may also review your online prescription history and medical records.
Best For: Healthy individuals seeking a quick application and fast approval.
Pros:
You don’t need a medical exam.
Coverage can begin immediately.
It's usually more affordable than guaranteed issue policies. But remember that your health history still affects approval and pricing.
Guaranteed Issue Life Insurance
Guaranteed issue life insurance doesn’t require a medical exam or health questions. This means approval is guaranteed if you’re between the ages of 45-85, regardless of your medical history.
Best For: Individuals with ongoing health issues who may not qualify for traditional life insurance.
Pros:
You're guaranteed acceptance if you're within the age range (45-85).
There's no medical exam or health screening.
You'll feel more secure if you have complex health concerns.
Keep in mind:
Monthly premiums are usually higher.
Coverage amounts may be lower.
Some plans have a waiting period, usually two years, before you can access full benefits.
Guaranteed issue is an excellent option for individuals who have been previously denied life insurance.
Term vs. Whole Life Insurance
Deciding between term and whole life insurance is important when purchasing a $250,000 policy.
Term Life Insurance
Term life insurance offers coverage for a fixed period, typically 10, 20, or 30 years. It’s usually the most affordable option for short-term needs. You can use it to replace income, protect a mortgage, or provide for your children.
Pros:
Lower monthly premiums
Simple coverage for a set period
Perfect for those on a budget
Keep in Mind: Coverage ends when the term expires, unless you renew or convert it.
Whole Life Insurance
Whole life insurance provides lifelong coverage and accumulates a cash value that grows over time, offering long-term security and the opportunity to create a lasting financial legacy.
Pros:
Lifetime coverage
Cash value that you can borrow against or access later
Predictable premiums
Keep in mind:
Higher monthly expenses
Better for long-term financial planning
Still unsure which option suits you best? A licensed SelectQuote agent can help quickly compare policies and guide you through your choices.
Get a Free Quote with SelectQuote
Choosing the right $250,000 life insurance policy can seem intimidating, but it doesn't have to be. At SelectQuote, we make it easy. You can compare plans from many highly rated insurance companies all in one place.
Our licensed agents are prepared to assist you. Whether it’s about your health, budget, or finding the best options, we’re here to support you.
There's no cost, no obligation, and no hassle—just help to protect what matters most.
Get your free quote today and take a step closer to peace of mind.
