In normal life insurance policies, if you outlive the policy term you wont get any money. (answers.com)
Because these policies are much smaller than a normal life insurance policy, the company won't require that you take a medical exam nor will they want to obtain your medical records. (over50lifeinsure.com)
Thus it can be a valuable insurance policy option for the homeowner that has a serious pre-existing medical condition that would preclude a normal life insurance policy. (term-life-online.com)