Medical Test Required Before Buying Health Insurance

Most health insurance buyers in India detest the idea of undergoing a pre-policy medical check-up. There are many incidences where people give up the idea of buying a policy if the insurer urges them to take a medical test before approving their policy request.Many people tend to get lured by the insurers' false advertisements, where they promise to offer a health cover without a medical examination. The possibility of getting health insurance without having to undergo tests may sound too tempting to resist, but you must ask yourself if health insurance without a test is worth it? Will it pose a problem later?

A pre-medical test allows you to know about your exact medical condition; you can understand the underlying condition that may eventually become serious. Knowing about the health issues can help you get the right coverage to cover the treatment expenses you may incur later. Also, by knowing about your health condition, you can mention it in the policy application form. Withholding any fact is considered fraud and it may lead to policy rejection.You may not like the idea of going to a diagnostic centre to get the tests done. But, the initial apprehension may cost you big in the long-run. Typically, the insurers who offer a healthcare policy without medical tests often tend to charge a higher premium.It is no doubt that being healthy is rewarding. If you go through the pre-medical test and pass with a good record, the insurer may consider you a low-risk customer and offer an attractive discount on the premium.After you go through the pre-policy medical check-up, you will know about your health in detail. If you are diagnosed with any pre-existing condition, the insurer may suggest a relevant policy to cover the potential risk. Experts recommend it is a good idea to pay a higher premium and get coverage for the illness than getting your claim rejected and paying the bills from your pocket.As per the IRDA mandate, at least 50% of the medical check-up cost must be borne by the insurance company, while the policyholder pays the rest. But, today, most insurers pay the full price to reduce the financial burden for their customers. In some cases, the insurers may ask the policy buyers to pay for the tests, and they reimburse the amount after their policy request is approved.The tests are usually conducted at the specific diagnostic centres that have a tie-up with the insurance company. Some of the common tests conducted include – blood count, blood pressure, blood sugar, ECG, etc.Thus, it is evident from the above benefits that it is better to undergo medical check-ups before buying health insurance.

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.