Instant Coverage term life insurance does not involve a medical exam. You just need to fill up your application form and pay the premium and your coverage is effective immediately. However, a company offering such a policy will slightly lower the coverage of the holder as compared to what he or she would have been normally covered for, if a medical exam had been conducted. The amount that your family will finally receive after your death will be thus significantly less than the death benefits from a normal policy. Since no medical exam is required, the insurance company is also taking a greater risk, so the premiums of such policies might be higher as well. In the event that you have withheld a medical condition or lied about any information in order to qualify for a no exam policy, any claim with be considered immediately invalid. The company is then fully within its rights to not payout and change the terms without your approval or knowledge. Denise at AccuQuote Disclaimer: I work for AccuQuote and this is my personal opinion.