Life Insurance No Medical Exam does exist and it is not a myth. Most of the people take it for granted that there has to be a medical exam in order to obtain life insurance. But, it is true that no exam is required. Actually, it would be more appropriate to call it term life insurance no medical exam as it is a term based policy where you can choose the term. However, the benefit is generally limited to a lower amount because the premiums are higher for this coverage. So higher benefit amounts would make the premiums more than what most people would want to pay.

In recent times, there has been an overwhelming demand for life insurance no medical exam policies throughout the world. Many people do not want to go through the pain of facing a medical test. Senior citizens, who have some medical problems and were earlier hard to insure cases, are enjoying the benefits of life insurance no medical exam from many providers.

Sometimes insurance coverage is offered with the promise that no physical exam would be necessary. Many such policies are offered through ads in newspapers and magazines specifying that there is no need to undergo an exam. The amount of coverage may be limited to small sums.

No medical life insurance allows the same sort of benefits that are necessary with a medical examination, without facing any accompanying problems. Each firm has its own terms and conditions that must be met before you become eligible for a non-medical life cover.

There is a one or two year period when the insurer can modify, change or cancel the policy if they notice that the applicant did not fully reveal the actual medical conditions.

Many younger people with a lot of financial commitments and liabilities are most likely to choose term life coverage owing to the lower premium rates while senior citizens would prefer the whole plan because they have limited life-span to live and do not have any financial commitments.