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  16 May 2024  Understanding Term Insurance Without Medical Tests

Understanding Term Insurance Without Medical Tests

SPOTLIGHT
Published : May 16, 2024, 4:52 pm IST
Updated : May 16, 2024, 4:52 pm IST

Omitting medical tests doesn’t mean omitting details about your health

A policy underpinned by a medical exam is like a well-anchored ship in a stormy sea. It stands firm when your beneficiaries make a claim, offering them support in a smooth, hassle-free manner. — By Arrangement
 A policy underpinned by a medical exam is like a well-anchored ship in a stormy sea. It stands firm when your beneficiaries make a claim, offering them support in a smooth, hassle-free manner. — By Arrangement

Did you know that you can get term insurance without medical tests? Based on your age and the life cover you request, you may be able to get one! It's straightforward, hassle-free, and you can purchase it with a few clicks.

Things to Consider While Buying Term Plans Without Medical Tests

Taking the first step towards term insurance plans without medical tests might seem like a shortcut, but it's a path that requires clear judgement and openness.

Be Transparent About Your Health Condition

Omitting medical tests doesn’t mean omitting details about your health. Declare any existing conditions to prevent your policy from turning into a house of cards that falls when your family leans on it.

Be Transparent About Your Lifestyle

Lifestyle isn't just about hobbies; it's a critical element that shapes your insurance policy. Being open about your smoking habits guarantees a policy built on truth and reduces the chances of claim rejection.

Should I Buy Term Insurance Without Medical Tests?

Our recommendation is to try to get a term plan with medical tests. Term plans without medical tests typically offer a lower life cover than those with medical tests. In the absence of medical tests, the insurer is not aware of any underlying medical conditions that you may suffer from and hence does not know if you are a high-risk insurance customer or not. To compensate for this unknown risk, the insurer offers you a low life cover. A lower life cover can mean that your loved ones are not adequately getting protected.

Why Is Doing Medical Tests for Term Insurance Necessary?

Choosing to undergo medical tests for your term insurance may seem like a lengthy process, but it gives a thorough result and leaves little room for uncertainty.

Lesser Hassles At the Claim Stage

A policy underpinned by a medical exam is like a well-anchored ship in a stormy sea. It stands firm when your beneficiaries make a claim, offering them support in a smooth, hassle-free manner.

Customised Coverage

Medical tests offer a clearer picture of your health, enabling insurers to recommend you the right term plan based on your health profile.

Higher Sum Assured

With medical tests, you can potentially increase your sum assured (compared to those without medical tests), giving you the leverage to build a bigger backup for your safety along with your loved ones. It's like upgrading your safety to such a level that you feel completely secured. Thus, staying away from worries.

Premium Calculation
Medical tests help insurers understand the risk they are taking by insuring you and hence these tests can help them in deciding a premium amount for your policy. Being in good health could qualify you for lower premiums, much like a clean driving record rewards you with lower car insurance rates. It's a financial pat on the back for taking care of yourself.

KlarifyLife: An HDFC Life Initiative to Simplify Term Insurance For You

When it comes to choosing term insurance, there’s no one-size-fits-all answer. Opting for term insurance plans without medical tests can be a quick and efficient way to secure a policy. But remember, the devil is in the details, and a medical exam might just offer you and your loved ones a broader coverage of protection. It's all about finding the right balance between convenience and comprehensive coverage. To understand more about term insurance in a simplified manner, explore KlarifyLife, an initiative by HDFC Life to make understanding term insurance easy and to protect you from unforeseen shortcomings.

Disclaimer: No Asian Age journalist was involved in the creation of this content. The group also takes no responsibility for this content.

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