Term insurance is usually the least expensive form of insurance coverage and is very affordable to purchase when you're young. As you get older, your risk of dying increases, so the cost of term insurance goes up. This risk is known as the mortality rate.

If you are applying for a life insurance, all companies will require you to take a brief paramedical exam, which consists of a blood and urine sample. The exam is free and can be scheduled in your home or office, at your convenience. Most companies suggest that you fast for at least 8 hours prior to your scheduled exam which usually takes less than 30 minutes.

The exam is paid for by the insurance company, takes only 20-30 minutes and is usually carried out at your home or any other convenient location. Medical Term Life insurance policies are priced based on gender, current health, age and tobacco use status. Medical Term Life insurance policies are available for 10, 15, 20 and 30 year periods, with rate guarantees, and some have a Return of Premium option.