Final answer:
No-exam life insurance is the type of policy where the proposed insured is not required to undergo a medical examination, offering a quicker and more convenient application process at potentially higher premiums.
Step-by-step explanation:
The type of life insurance policy in which the proposed insured is not required to undergo a medical examination is known as no-exam life insurance. This is different from traditional policies like term, whole, or universal life insurance, where a medical exam is typically part of the application process to assess the applicant's health risk.
No-exam life insurance policies provide a quicker and more convenient option for obtaining coverage, but they may come with higher premiums due to the increased risk the insurer takes on by not thoroughly vetting the applicant's health status.