A no medical exam life insurance is exactly what its name implies; a life insurance policy that does not require a medical exam. Many companies are beginning to switch to a policy like this, and the majority of life insurance policies sold online do not require a medical exam.
The problem that arises is that some people then think they can lie, or neglect to mention the truth on their application. They assume they can do this since no one from the company will ever meet them face to face. However each application includes a disclaimer that if any of the information is falsified, the company can cancel the policy, and keep any previous payments.
The other thing many people do not realize is that the company will still request background information, and may seek copies of your medical records. Though the company has changed their requirements, they are still looking to make a profit. That means they will not cover someone who is a high risk, and anyone who has a higher than average chance of dying quickly.
This type of no medical exam life insurance is often found online, and is purchased by those who cannot find life insurance in their state. Some companies even advertise that they will cover anyone, even if they have previously been turned down by another provider in the past. Some of these companies are highly reputable, while others are scam sites. Its important to research a company thoroughly, and check with the Better Business Bureau before sending anyone money.
Before applying for a no medical life insurance policy, remember that the company will still look into your background and lifestyle, as well as checking into your medical history. Just because they do not require an official exam, does not mean that everyone will be accepted and covered.