What to Expect During the Medical Test for Life Insurance?

When you purchase a life insurance policy , the insurer may require you to undergo a medical test as part of the underwriting process. Your current health condition and medical history play an important role in what risk classification you receive and the premium you pay for the policy. If your medical test for life insurance indicates that you don’t have any serious illness, you can get a higher coverage at an affordable premium.

The medical test, which is sometimes referred to as a paramedical test, is a standard part of the insurance application process. During the medical test, the insurance company appointed healthcare experts will conduct a thorough physical check-up at the designated clinic to confirm the details you provide in the life insurance policy application form.Generally, the insurance company covers the medical test cost. But, in some cases, the insurer may ask you to pay the fee upfront, and if your policy is approved, you will get full reimbursement.

The medical evaluation for life insurance usually involves different steps, including:

• Verbal questionnaire This step is more like an interview where the medical professional will ask you questions regarding your health to evaluate your health condition. You may be asked about your family’s medical history, whether anyone in your family has had cancer, the last time you got hospitalised, etc.Additionally, the experts may ask you about your lifestyle habits like smoking, alcohol, drug usage, etc. It is critical that as far as possible, you provide accurate answers. If you try to hide about any health condition or provide wrong information, and the insurer later finds the truth, it would be considered as a violation of policy terms, and your policy request will be rejected.
• Sample collection In this medical test for life insurance, the medical practitioner will collect samples of blood, urine, etc. These samples will be medically evaluated for various diseases, and the results will be used to verify the information you provide during verbal questioning and application papers.
• Medical tests Lastly, you may have to undergo a few medical tests like HIV test, ECG Test, Body height and weight measurements, etc.

After you complete the medical test, the insurance company will review the results to determine your risk factor and the premium amount. If you have a good medical history and your test results indicate that you are healthy, your application will be approved, and the insurer will issue the policy papers.On the other hand, if your test results indicate that you have any serious underlying condition, the insurer may either reject your application or charge a higher premium to cover the risk.

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.