Life insurance cover is an insurance policy taken out by individuals which pays out a lump sum to their beneficiaries, usually family members, in the event of their death. The premium payable on a monthly basis is dependent on a number of factors. These include HIV status, whether the insured is a smoker or drinker and general health status. In the past, life insurance cover was only granted after a mandatory medical check up had been completed by the applicant. This is no longer the case as many life insurers are willing to insure individuals without them having to complete a medical exam. Although this may seem foolish of life insurance cover companies, it assists them in garnering a bigger cut of the market share and claims are turned down if medical conditions that caused the death are proved to have existed before the policy was taken out. Modern medical advances sees individuals living much longer these days which is good news for life insurance companies as a single individual pays life insurance for a much longer period before the company has to pay out the insured sum.