The insurance providers in India consider different factors to determine the eligibility of an individual’s insurance policy application. One of the most important factors among them is your medical history. The insurer would like to know everything about the illnesses, injuries, and diseases that you have been through or are experiencing currently.

Apart from your personal medical history, do not be surprised if the insurer also wants to know about your family's medical history. But why is the medical history of your family taken into consideration for the insurance you want to buy? It is because the insurance premium and medical history is correlated. Let us try to understand this in detail.

Why Does Family’s Medical History Impact Your Life Insurance? 

The reason why insurance providers want to know about the medical history of your family is that the different types of health conditions like coronary heart problems, cholesterol, and diabetes are hereditary. So, if your parents, siblings, or even grandparents suffered or are suffering from such conditions, there is a possibility that you might be affected by it in the future.

What Exactly Will the Insurer Want to Know? 

If there is a hereditary condition running in the family, the insurance provider would want to know how many of your immediate family members have been affected by the condition. They would also like to know the age when they were first diagnosed with the condition. Moreover, you might also be required to go through a medical test. If only a single-family member were affected, it would generally have no or minimal impact on your life insurance.

What If There Is One Such Condition Running in the Family? 

There is a huge misconception among people that it can be difficult for them to get life insurance if there is any serious hereditary condition in their family. However, the truth is, life insurance applications are rarely rejected due to family medical history.

The only difference such conditions can have is on your insurance premium. As such conditions affect your life expectancy, the insurance provider will require you to pay a higher premium as compared to someone not having any such medical problems in their family.

Family History is Not a Cause of Concern for You 

While family history is vital for insurance providers, rest assured that your application and approval process will be as simple and quick as someone with no serious family history. Apart from a higher premium, it will not impact any other aspect of your life insurance.

Get in touch with a reputed insurance provider to know more about their policies regarding family history to select the best life insurance and secure your family.

Learn more about different Online Term Insurance Plans here.

DISCLAIMER

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.



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