So you need life insurance to protect your family in case of an accident or if you're no longer able to take care of them but you don't want to go through the trouble of getting a medical exam or don't have the time.
Life Insurance companies will ask you if you have any health issues and if so are they chronic, permanent, or just temporary. The reason this is asked is because when most people are looking for quotes on life insurance and don't want a medical exam, it is because of health issues, they feel that they won't have to release medical information if it's not asked for during the quote or when your purchase the policy!
Unfortunately this is not the case, you may not need a medical exam but all term life insurance companies are going to ask you specific health questions (ex. Diabetes, high blood pressure). They do this so they can quote you on not only how much it's going to cost to get term life insurance but on how much coverage they will offer you. This way you get affordable life insurance.
That being said opens up another question people have when looking for term life insurance without a medical exam, is my coverage amount limited or reduced? Yes, it's a simple answer but yes, you will be limited on the amount of coverage (pay out) you beneficiary will received in the event of death. It's simple if you look at it as a business and this may not be an issue for you if you are older or just want a pay out to cover burial expenses. In fact life insurance with no medical exam is ideal if that is all you need.
If you take the example of a healthy person, of average age and they just want enough life cover to take care of funeral expenses (approx 7-10,000). Do you think this person would pay more or less if they had a medical exam? In fact these people will in fact over pay for life insurance coverage if they don't get a medical exam, or in other words they will save a lot on the premium if they do get an exam, why? Because they are of lower risk than the person with health issues! So it is in their best interest to save the money and take some time out of their schedule and get the medical exam.
What if you don't disclose a medical condition because there is no medical exam?
This is actually a great question, what if you go online fill out all the information required on a life insurance policy and omit something important like high blood pressure etc? Well you may feel that you are covered but if you needed to use the policy it would take the life insurance company very long to figure out that you have a medical issue and didn't disclose it and thus you wouldn't receive any compensation at all. It's very important to be honest and true to make sure they coverage is their if your family needs it. Also if you have an ongoing term or whole life insurance plan and your health issues change make sure you contact your life insurance company, read the fine print on your policy, you are obligated to do so and if you don't your policy could render itself useless.