Disclosure: This post was made in paid partnership with Bestow. Neither Bestow nor North American Company for Life and Health Insurance were involved in the preparation of the information in this article. The opinions and ideas expressed in the article are those of the author(s) and are not promoted or endorsed by Bestow or North American. You should always seek professional advice before making a financial decision.

When I got my life insurance policy, I had a nurse come into my home. She took my weight, drew my blood and went over a long and complex form with me, assessing my physical and mental health.

It wasn’t a particularly convenient or fun experience.

But if you’re looking at purchasing a term life insurance policy today, you’ve got options. If you qualify, you could get a policy for as little as $5/month from Bestow. No medical tests. Easy questionnaire. And the entire process takes less than ten minutes.

I gave the platform a whirl myself, though I did not qualify for a policy. I have a couple preexisting conditions, so that’s not a huge surprise. These are low-cost policies, which will often mean they’re available to those who do not have many “negative” marks on their medical history.

There were seven sections of the application, reviewing basics like name and address all the way through lifestyle decisions, physical health, mental health and income information. From here, you’ll either be rejected or offered a final rate. Policies start at just $5/month, and are underwritten by North American Company for Life and Health Insurance®.

What should I look for in an insurance company?

When you’re shopping for an insurance company, you want to be as sure as possible that the company will be able to pay out your benefits should you ever need to make a claim. You can do this by looking up its rating with an insurance rating agency. Scores operate similarly to the grades you received in high school; the closer to an A++, the better. Companies with lower ratings are less likely to be able to actually pay out the claims.

North American Company for Life and Health Insurance has an A+ rating from AM Best, and Bestow administers their policies online.

Why do you need life insurance?

There are many reasons you might need life insurance. You may want to provide for you family in the event of your death, aiming to leave them with enough money for the kids to attend college and to replace your income for several years as they adjust to lacking your income or work as a homemaker.

Of course, the primary thing you want to get them through is the mourning process. Giving them time to handle the emotional waves that come along with grief is perhaps one of the greatest gifts of all.

You may want to support a partner or parent in the event of your death, which is another reason to take out a life insurance policy.

Why don’t I have to submit any medical records?

Bestow pulls your data as you give it permission to do so as a part of the application process. It pulls your health data and prescriptions in this way. Then it goes through an algorithm which decides if you qualify for coverage.

What else should I know before I use Bestow as my life insurance provider?

If you get a 20-year term policy from Bestow, you must be age 21-45. The other policies offered are 2-year or 10-year term policies, and you must be between the ages of 21-55 in order to qualify.

You will not be approved if you have any of these disqualifiers:

• Heart disease
• Stroke
• Cancer—unless it’s basal or squamous cell skin cancer
• Organ transplant
• Diabetes before age 40—unless it was gestational diabetes
• Alcohol and/or drug abuse
• HIV
• Undergoing dialysis

As long as none of the above apply to you and you fall within the age limits, you may qualify. Finding out is as easy as applying online, and shouldn’t take you more than ten minutes.

Have you purchased life insurance? What was your experience? Let us know in the comments!