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Importance of Medical Test for Term Insurance

Medical Test for Term Insurance
October 04, 2018 3980
Term Insurance is a cover plan which protects you against risk of Life. The premium is always very low and the coverage is high, making it the most economical plan.

It is important to do a medical test when taking a so that it ensures there are no discrepancies. Listed below are factors that will explain to you the importance of doing medical tests when buying a term plan:

  1. Claim rejection

    - Before purchasing the policy, you need to disclose your health condition in the form which is considered to be properly evaluated and filled by the buyer. It is not right to hide your health condition when buying a term insurance. If the insurer finds out at the time of the claim that you lied about your health conditions, then they your claim can be rejected on the basis of misleading information within 3 years from policy buying. Wrong information about health condition is done intentionally or by mistake, but it doesn't matter to the insurer as wrong information is strong basis of claim rejection for any insurance company.
  2. More premium

    - If you are in a good, healthy condition and you go for the test, you can lower your premium amount since the results will also show that you don't have any medical issues, thus letting the company know that you are not a high risk client. The premium rate of term plans with no medical test is usually higher than normal.
  3. Low Coverage

    - Most of the term insurance policies which offer "no-medical test" are low value-plans. Such type of term insurance plan offers you a very low amount of coverage which may not be sufficient for your healthcare need. So if you are buying a no medical test term insurance policy, then you will get a low cover amount for your term insurance policy, regardless of your age and health.

HDFC Life offers its patrons the best plans in the Industry. Choose a term insurance best suited for you and help secure your family's financial future.


Related Article:

Offline vs Online Term Plan - Which Option is Better?
Pure Term Insurance Vs Return of Premium Vs Permanent Life Insurance
Kind of deaths not covered in term insurance
How to choose a nominee for your term insurance plan
Comparing term insurance plans with traditional life insurance cover
Term insurance guide for disabled persons



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HDFC Life Insurance Company Limited. CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101.

Registered Office: Lodha Excelus, 13th Floor, Apollo Mills Compound, N.M. Joshi Marg, Mahalaxmi, Mumbai 400 011. Email: [email protected], Tel No: 1800-266-9777 (10 am to 7 pm). The name/letters “HDFC” in the name/logo of the company belongs to Housing Development Finance Corporation Limited (“HDFC Limited”) and is used by HDFC Life under an agreement entered into with HDFC Limited.

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