Get Life Insurance Without a Medical Exam! If this sounds like you, you really need to take a look at no exam life insurance. It’s going to be more expensive as a default, simply because they will not have a good picture of your health when you agree to a policy. However, there is a very good chance it would be less expensive than a life insurance policy that does require an exam if you were to take it. They might discover that your health is less than amazing and adjust your policy rates upwards, possibly to the point of no return.