The reason a physical exam is required when buying life insurance is so the insurance company can determine your health and any health problems that may cause your life expectancy to be shortened; such as, if you have high blood pressure, smoke cigarettes, have high cholesterol, emphysema, or any other chronic health problems.
The insurance company uses your answers to health questions on the application, as well as, the results of your health exam to aid in deterring if they should insure you for life insurance, and what they should charge for the premium.
However, if you are young and buying a small amount of life insurance, you may not have to take a physical.
Also, there are now no exam life insurance policies you may qualify to buy over the internet. You just answer some health questions and your acceptance for coverage is based on your answers, as well as other information the insurer may review before approving you for a policy.
In fact, some no exam life insurance plans offer immediate coverage the same day you apply online, if you are approved.
Here's how you can learn more --> Is a physical exam required for life insurance?