Some people get No Exam insurance for ease and convenience.
In those cases, if they have very good health, the person may be able to get a lower price if applying for a life insurance policy that requires a physical exam. But to them, it is worth it to not miss time off work and go through the blood sample and medical examination. In addition, these policies may be issued in days rather waiting 4-6 weeks for coverage.
Some people get No Exam life insurance because they are overweight or have a pre existing health condition that does not qualify them for a medically underwritten life insurance policy. While the cost might seem high, for them it is worth it to get life insurance coverage.
Other people can actually sometimes get a lower price with No Exam insurance than they could with life insurance that does require an exam. This can be the case with final expense life insurance, overweight life insurance, or life insurance for people of older ages.
Part of the reason is that No Exam life insurance offers a minimum face amount requirement than most medically underwritten policies. So, there lower amount of coverage available for final expenses coverage may cost less than the higher coverage minimums on medically underwritten policies.
Here's how you can compare prices on no medical exam life insurance policies.