Life Insurance Coverage without taking a Medical Exam

While a medical exam is part of the process in securing a medically underwritten term life insurance policy, it is possible to secure term life insurance with no exam.

There are advantages and disadvantages to both types of coverage. The advantage in having a medical exam is that it often saves you money on your policy. With an accurate health profile, the insurance company can place you in the appropriate rate class, and charge you according to your actual health situation. Term life insurance with no exam is a convenient choice for many, but might cost more because the mortality risk must be shared across all of the policies. In other words, the insurance company doesn't know who is healthy or not, so they average the cost.