Circumstances that the people are facing across the globe and in India, re-emphasises the importance of health insurance. An adequate health plan ensures that yours and your family’s medical emergencies are financially taken care of so that you don’t have to drain your life savings.
When you are looking for health insurance in the market, you will observe that many insurers need you to take a medical checkup. It is a mandatory process and is known as pre-policy medical checkups. Let us understand more about getting a health checkup done.
In simple words, a pre-policy medical check is nothing but a medical examination requested by your insurer before issuing the policy. This helps insurers determine whether you are a high-risk applicant or not and thus determine your premiums.
The medical checkup is usually mandatory for people seeking health plans after the age of 40 years. However, people below the age of 40 years can still undergo a medical examination, as it will help choose the correct sum assured amount based on your health condition.
The reason why pre-medical checkups are necessary is that it not only helps insurers determine the premiums of your health plan but also update you on your health conditions. The following points will help you understand why this medical checkup is essential when buying health insurance in India.
While skipping medical tests before buying health insurance may seem a quick way to get the policy, it is not highly recommended. When you decide to skip the medical examination, the insurer may consider you as a high-risk applicant. The premium costs for high-risk applicants is high. Therefore, getting a medical checkup done when buying health insurance will prevent you from paying hefty health insurance premiums.
As explained above, when you avoid taking a medical examination just to skip ahead when buying health insurance, the insurer considers you as a high-risk applicant. This is irrespective of whether you are suffering from any critical health conditions or not. Hence, it would be best if you got a medical checkup done when buying health insurance as it helps determine whether you fall under a high- or low- risk profile.
Having a medical examination done when buying health insurance helps discover any health condition that you may have. As the symptoms of certain diseases are diagnosed early, you can start seeking appropriate treatment at an early stage.
Taking a medical examination will provide you with a good insight into your health condition, and warn you about any potential risks in advance. Based on the results, you can then determine the amount of health coverage that you need to tackle the medical expenses in the near future.
The insurer from whom you are planning to buy the health insurance plan will determine the type of medical tests to take during the checkup. Here, your age and the coverage you are opting for are the two determining factors. Usually, the types of tests conducted in the pre-policy medical checkup include
As per the Insurance Regulatory and Development Authority of India (IRDAI), half of the medical checkup costs will be borne by the insurer, and the applicant shall pay the remaining amount. Hence, it reduces the financial burden on the applicant as well as the insurer. Moreover, a few insurers in India do offer to pay the entire medical checkup amount upfront for their applicants.
Once you undergo the pre-policy medical checkup, the insurer will either accept/reject your health insurance application. If the application is accepted, the medical checkup result will help the insurer determine your premiums. So, if the results show that you are suffering from any critical health condition or will be suffering from it in the future, the premiums will be high to provide adequate coverage.
Taking a medical examination before buying health insurance is very necessary. It would be best if you did not avoid/skip it at any cost when the insurer requests for a health checkup. It prevents you from paying hefty health insurance premiums and warns you of any potential health risk. That way, you can seek appropriate treatment at an early stage and recover from it soon.
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