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The contract of term insurance makes it legally binding for the issuer of the policy to make good their promise of the payment of the sum assured upon the death of the policyholder within the term of the policy. Therefore, before issuing a term insurance policy, insurers need to ascertain the medical condition of the prospective policyholder and the resultant death risk.

Insurers can ascertain the sum insured to be offered to a particular insurer as well as the amount of the premium on the basis of the analysis of their medical condition, including any pre-existing diseases. This is where a medical test for term insurance comes into the picture.

Not only does a term insurance medical test make it easy for the insurer to decide the important terms of the policy, it is also beneficial for the policyholder. With the results of a medical test at their disposal, insurers can offer the best possible sum insured to a particular policyholder in line with the condition of their health.

When Is It Required To Have a Medical Test To Buy A Term Insurance Plan?

It is important to be aware of whether you are required to undergo a medical test in order to purchase a particular term plan. Although you can buy some term insurance plans without a medical exam, you would be required to undergo a medical test for a term plan in the following cases.

  1. If the selected sum insured under the term plan is in excess of Rs. 10 lakhs

  2. If the applicant is older than 35 years of age

The above scenarios do not provide a universal answer to the question: Is medical test mandatory for term insurance? Some insurers may not require prospective policyholders to undergo a medical test even if their age is more than 35 years and/or the requested sum insured is higher than Rs. 10 lakhs. Therefore, it is advisable to check the policies regarding a medical test for the selected insurer.

 

Which Medical Tests Are Required For Term Insurance?

The number and types of medical tests required to buy a term insurance plan shall vary depending on your age, the requested coverage, your medical condition, etc. However, here is a common term insurance medical test list.

 

  1. The test for Blood Pressure levels

  2. The test for BMI

  3. The test for Routine Blood Cell count

  4. The test for Differential Blood Count

  5. The test for Urine analysis

  6. The test for Haemoglobin levels

  7. The test for Lipid profile

  8. The tests for Blood Sugar Levels

  9. An Electrocardiogram Test

 

Why Is It Beneficial To Have A Medical Test For Your Term Plan?

On the surface, the medical tests required for term insurance may seem like a procedural hassle. However, they are of immense benefit for the issuer of the policy and the policyholder alike. Here are some of the advantages of a medical test for term insurance for the policyholders.

        1.Detection of any ailments:

A medical test for term insurance can help you through the timely detection of any ailments or medical conditions. The different examinations conducted under such a test could, therefore, prove to be potentially life saving for you.

        2.An optimal sum insured:

With the analysis of the results of your medical test, an insurer can be better placed to offer you the optimal sum insured in your term plan. If you have no ailments or pre-existing conditions, then you are likely to get a high sum insured owing to the low death risk. On the other hand, if there are any ailments detected in the medical test or if you have any pre-existing diseases, then you may get a low sum insured due to a high death risk.

        3.A feasible premium:

The results of a medical test for term insurance are also important for the determination of the premium of your term plan. Policyholders with a low death risk are required to pay a lower premium in comparison with the policyholders with a high death risk.

To sum it up

By undergoing a medical test before buying your term insurance plan, you can get a high sum insured and a low premium on the plan. More importantly, the timely detection of any diseases can help you seek the necessary treatment.

Frequently Asked Questions About Medical Test for Term Insurance

  • ✔️Does the purchase of all term insurance plans require you to undergo a medical test?

    No, not all term insurance plans have a medical test as one of the eligibility criteria. You must check the eligibility criteria for the term plan you wish to buy to determine whether you need to undergo a medical test. 

  • ✔️How is a medical test for term insurance beneficial for policyholders?

    A medical test for term insurance can benefit policyholders in the following ways:

    • It can help them get the optimal sum insured.

    • It can help them get a low quote for premium.

    • It can lead to the timely detection of diseases. 

  • ✔️What medical tests are required for term insurance?

    Here are some of the tests required for term insurance.

    • Blood pressure test

    • Blood sugar test

    • BMI test

    • Lipid profile

    • An Electrocardiogram

     

  • ✔️How does a low risk of death affect the premium of a term insurance plan?

    Policyholders with a low risk of death get a low quote for the premium payable on their term insurance plan.

     

  • ✔️Can I buy a term plan online?

    Yes, you can buy a plan online and avail term plan benefits at our official website. 

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