What Kind of Insurance Health Check-up needed while Buying Life Insurance

Undergoing medical health check-up is an integral part of the life insurance buying process. Read on to know more about the type of health check-ups you must undergo while buying a policy.A term life insurance policy is the most basic form of insurance that covers the risk of untimely demise. It offers financial security to the family in case of your untimely demise during the policy term. It serves as an income replacement for the family and allows them to be financially independent.While buying life insurance, you must consider many things, and one of the most important things is to choose a high sum assured. It is the amount that the insurer pays to the family as a death benefit. The amount should be enough to help your family members meet their requirements in your absence.Apart, the high sum assured, another critical aspect that you must know about term life insurance is health check-up. While buying life insurance policy , the insurer may ask you to undergo a medical test. It is an integral part of the life Insurance buying process. Although most insurers in India insist on taking the medical examination to determine the premium, it is not mandatory. Some insurers offer a life without the test.As a policy buyer, undergoing a medical test may seem like a hassle. But, experts suggest taking the test; it is beneficial for both the insurer and the insured.

Many people back out from buying a life insurance policy because of the medical check-up. They fear the test may increase the premium charges. But, as a policy buyer, you need not worry about anything; instead, it is beneficial for you. And, here are the reasons why:By undergoing a health insurance medical test, you can know about your current health status. If there are any underlying conditions, you can take immediate preventive measures and treat the disease early.Also, by knowing the actual health condition, you can make a more informed choice about choosing the sum assured. For example, suppose you are diagnosed with any health condition, potentially becoming critical in the future. In that case, you can opt for a higher sum assured to provide optimal financial security to your family. Similarly, if you are in your 20s, and the medical test certifies you as fit and healthy, you can opt for a smaller sum assured and later increase the amount as you grow old and your income increases.Another critical reason why undergoing a medical test is vital while buying life insurance is that, in the event of a claim for death due to medical reasons, the insurance company cannot dispute the claim if the medical test were done earlier. Thus, the medical examination for life insurance increases the chances of claim settlement without any hassles.If the insurer certifies you as healthy post the medical check-up, you need not pay a hefty premium to get a plan with a high sum assured.

The medical tests for life insurance vary from insurer to insurer. But, generally, most companies insist on the following routine check-ups:

• Blood pressure
• Haemoglobin level
• LIPID profile
• Height and weight
• Blood sugar (fasting and post-prandial)
• CBC (Complete Blood Count)
• Urine analysis
• Electrocardiogram

Based on your age, the sum assured amount you choose, the insurance company may require you to take additional check-ups. For example, if you are a 40-year-old individual and are looking for an insurance cover with a sum assured of Rs. 50 lakhs or more, apart from the routine check-ups mentioned above, the insurer may ask to take additional tests like EEG, treadmill test, etc.

Medical tests are an essential part of the life insurance buying process, and, as a buyer, you must undertake the test to get the best coverage.

The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.