Term Insurance Medical Test

There are few basic medical tests for term insurance that every policy buyer has to undergo, such as:

• Complete blood count
• Kidney function test
• Liver function test
• Lipid Profile
• Fasting Plasma Glucose
• HIV
• Routine Urine test

• ECG
• Treadmill test

Moreover, the complete term insurance medical test depends on various factors such as family medical history, your age, and the type of insurance policy coverage you are applying for. Let us look at the relevance and importance of the term insurance medical test in your insurance buying journey.

Having a term insurance plan can help you create a financial backup for your family, in case of your untimely death. In your absence, the insurance benefit from the term policy will take care of all financial needs such as your children’s education, paying back loans, and managing household bills.

As part of the term insurance purchase process, however, you need to undergo a comprehensive term insurance medical test.

Based on the term plan medical test results, the insurance provider will determine your overall health condition and your risk profile. features and benefits it offers.

Subsequently, the insurer will create customized term insurance policy quotes for you, so that you can choose the term plan variant that offers maximal benefits for cost-effective premium rates.

A medical test for term insurance may be needed based on multiple factors such as the applicant’s age, health profile as well as insurer’s internal policies such as sum assured and type of policy being offered. People with lifestyle habits, such as smoking, alcohol consumption, or other risk factors such as family history of cancer/cardiovascular diseases, etc. may need to undergo a medical test irrespective of their age.

A medical test at the time of life insurance application helps insurers check the potential health risks and life expectancy, which can later influence the premium charged, coverage period, and sum assured offered under the policies. Individuals who are determined to be at higher risk of diseases may be charged a higher premium, be offered a lower sum assured or fulfill additional requirements as per the insurer’s policies. Similarly, in many cases, younger individuals who are opting for lower sum assured life insurance policies may receive the benefit of not having to undergo a medical test as part of the application process. In the end it all depends on the internal policies and discretion of the insurer.

The premium rates for a term insurance policy are determined based on the insurer’s risk perception of you. Taking a medical test for term insurance, before selecting an insurance policy can hence, help lower your payable premiums significantly.

As a term insurance buyer, you must keep the following points in mind, while opting for a term policy:

a) It is best to undergo term insurance medical test during an early stage of your life, say in your 20s and early 30s

b) Undergoing a term plan medical test and buying a term plan at an early age can help you keep your insurance premiums down

c) Buying a term plan in your 20s and 30s, also means that you can opt for a maximal coverage tenure – meaning you can secure most of your working and retirement years against life’s uncertainties, with the term plan.

In life, we do everything in our power to maintain a healthy disposition. Since we continuously work towards taking care of ourselves, it is prudent that we are rewarded for the same. Thus, the premium payable towards your term insurance policy must be in accordance with your overall health condition.

Before you undergo a term insurance medical test, it is highly likely that you are asked by the insurance provider to declare any pre-existing health issues and your family’s medical history, while filling out the application form.

If you decide not to disclose your health condition, then the chances are that you may not get the desired coverage protection, or worse, your term insurance claim might even get rejected.

The primary purpose of any term insurance medical test in India is for the insurance provider to know everything about a term plan applicant’s health. Subsequently, the insurer can proceed to create a personalized term insurance coverage – complete with maximal coverage tenure, optimal rates of premium payable and host of other policy benefits.

The terms and conditions for life insurance plans, primarily term insurance, are determined based on the results of the term insurance medical test that the insurance company asks you to undergo. Let us look at some policy attributes that get affected by the results of a term plan medical test:

During the COVID-19 pandemic in India, medical examinations for life insurance with physical presence of the applicant was found to increase the risk of Coronavirus infection for medical personnel. To reduce this risk, video and tele-medical check-up processes were introduced. In the case of video medical check-up, the medical professional carries out a recorded video interview with the applicant to gather personal information and medical history directly from the applicant. If the medical professional carries out a similar interview with the applicant over the phone, it is termed as tele medical.

Undergoing a term insurance medical test in India can help you avail of the best possible insurance coverage. With the term insurance medical test results to back your case, the insurance provider will help you create a personalized term insurance coverage that will helpyou in the long run. Having a robust term insurance coverage to protect your loved ones, you can make sure that your family has enough money to sustain their lifestyle after you and can work towards accomplishing their goals without worrying much about financial instability.