The prevalence of being able to get insured via the Internet is changing the way insurance is offered. Once upon a time, you had to get life insurance a certain way, and the number of insurers you had available to choose from was small. Every insurance policy required a physical exam to prove that you were in good enough health to be insured. Insurance providers don't like to take bad risks, so they want to know that you're in good health and that they are unlikely to need to pay your life insurance benefit when you sign the policy papers. However, now that you can find almost any kind of policy on the Internet, competition is getting stiffer among insurance companies. Some now offer specialty plans, including ones that require no physical exam whatsoever.

No exam life insurance tends to be term insurance, meaning that it is only in force for a specific period of time. After that time, you may have the option to renew the policy, or it may expire completely. It's best to make sure that you get a guaranteed renewable plan, allowing you to be sure that you'll be insured after the term of the insurance ends, even if your health status changes. The rate that you pay may go up after you renew, and you may be subject to additional stipulations because you are now older. Insurance companies give better rates to those they consider less risky, and the older you get, the riskier the insurance company sees you as being.

A term life insurance policy that requires no exam may require a saliva or blood sample, but beyond that, you will never have to go to a doctor. This saves you the stress and fee of having to pass an exam, and prevents you from having to deal with a long waiting period while the insurance company determines if you are a good risk. Generally, it's easier to get life insurance without a medical exam if you're younger. People over 40 are more likely to be asked to pass such an exam, including a basic physical, blood work, urine test, and possibly a stress test.

If you're young and in good health, a no exam term life insurance policy may be available to you. These policies reduce hassle and allow you to begin coverage as soon as you sign the papers. Because the insurance company is taking a higher risk, a no exam life insurance policy will often carry a higher premium. The maximum death benefit may also be lower than with a conventional term life insurance policy, or more limited. Make sure that these factors will not be a problem before you choose a policy that doesn't require a medical exam. No exam life insurance could be the thing you need if you want coverage to begin right away, or for some reason cannot take a medical examination.

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