Royal Neighbors of America No Exam Insurance Review

Royal Neighbors of America No Exam Insurance Review

Royal Neighbors of AmericaRoyal Neighbors of America takes a very different view on delivering life insurance products to its customers. They are one of the few insurers out there who focus on supporting the needs of their customer, regarding family and community, not just the solutions that life insurance products offer.

Since before 120 years ago, women or children could not get life insurance, Royal Neighbors was one of the first insurers to change that. In fact, their mission is based on the needs of women and their families and the company is run primarily by women.

Royal Neighbors of America is a fraternal organization which means they are in business to satisfy the needs of their members and not Wall Street. This not-for-profit organization does not sell products to deliver profits to stockholders, rather, they sell products to members in order to provide financial protection and take part in the betterment of the members’ communities.

Financial Overview

Royal Neighbors of America enjoys operating on a strong foundation with a surplus of $203 million. They also enjoy a premium to surplus ratio of 21% which is more than double the normal surplus of for-profit publicly owned life insurers.

Their current solvency ratio is 1.26 which is also above the industry average and indicates that company can easily meet its debt and other obligations. They are currently rated “A-“ Excellent by A.M. Best rating services for financial strength and ability to meet obligations to their certificate holders. You can review the company’s full annual report here.

Currently Available Products

  • Whole Life – Whole Life Insurance is for consumers who prefer coverage to last their entire lifetime. The death benefit is guaranteed as long as the periodic premiums are paid by the policy owner. The monthly premium will never increase as you get older or have health issues.

The policy builds cash value which earns a guaranteed interest rate and can be accessed through policy loans from the insurance company. The Royal Neighbors Whole Life policy is available with seven different riders that can be used to broaden the policy’s coverage.

  • Youth Whole Life – The youth whole life product was designed for parents and grandparents to be able to insure their children in the unfortunate event they die unexpectedly. But this product provides benefit for the children as well. This is considered no exam life insurance since the company rarely requests a medical exam.

Since the policy builds cash value and earns guaranteed interest, over time the child will have a considerable savings account that can be used for such things as college tuition, a vehicle, or that cherished first home. By providing life insurance when a child is young, they can assume ownership at the lowest possible rate when they become adults.

  • Universal Life – Universal Life, which is considered permanent insurance, is similar to term insurance but has a cash account attached to it that earns guaranteed interest from the insurer. What makes this policy so popular is the flexibility of it.

We know that life events can affect our insurance needs, so flexibility is very important. With universal life insurance, the periodic premium and face amount of the policy can be adjusted according to your needs. And, if the company’s investment portfolio performs better than expected, the insurer will pay more than the guaranteed interest for that period of outstanding performance.

  • Single Premium Whole Life – This product was designed for people who want to make a lump-sum investment to pay up their whole life policy. Since you are buying the life insurance at a discount, the amount of your death benefit will be substantially more than the lump-sum premium you’ve paid in.
  • Term Life Insurance – Term insurance is the most affordable way to cover debts, loss of income, college tuition, and monthly living expenses for your surviving loved ones. Although term insurance is temporary (10, 15, 20, or 30 years) it can usually be converted during the policy period to a permanent policy like whole life or universal life.

Term’s affordability makes it the perfect way to cover the debt you will like leave your family and allow them to continue in the household long after you’re gone. Royal Neighbors’ term policy is a no exam insurance policy and in most cases and can be issued quicker than whole life or universal life. The product is available with six additional riders to choose from, allowing you to design an insurance solution that will meet your family’s needs.

  • Simplified Issue Whole Life (SIWL) – Simplified Issue Whole life is typically used to insure for final expenses such as funeral expenses, burial expense, medical bills, and other expenses you do not want to pass on to your surviving loved ones.

This policy is particularly popular with seniors because it can be purchased up to age 85 in amounts of $5,000 to $25,000. It is a no exam life insurance, so the policy is typically issued within a few days.

Since it’s a whole life product, it is guaranteed for the life of the insured and cannot be canceled as long as the periodic premium is paid. It builds cash value that earns a guaranteed interest rate, and your cash can be easily accessed through policy loans or partial surrender.

LJM Insurance Review


  • The company is led by women with a mission to provide various financial products to its members and offer support to the communities of its members.
  • The company operates on a very strong financial foundation and delivers excellent products and services. They continue to enjoy an “A-“Excellent rating and have a solvency ratio that is much higher than the industry’s average.
  • The company provides additional services for its members. When you purchase a policy, you will also be offered benefits such as health and wellness discounts, a scholarship program, disaster aid, and legal services.
  • The company has generously set up the Royal Neighbors Foundation whose mission is to empower women by offering free financial education that teaches best practices for managing finances, reducing debt, and planning for retirement.


  • Although the company focuses on insurance for women and their families, they may not be the best value for men.
  • The company takes a very conservative position in terms of underwriting and product selection.

You will always have a greater selection of insurance companies and products when you deal with an independent agent like LJM Insurance rather than a company agent. We will always put your needs first, rather than the needs of the company.

We encourage you to contact us through our website or call us during normal business hours at (844) 528-8688.