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Medical History and Term Insurance
In these days where financial support systems matter the most for ensuring a stress-free financial life and for futuristic benefits for the loved ones, a term insurance plan serves your best financial interests. A basic term insurance plan is a pure life insurance plan that provides guaranteed main plan benefit i.e. the sum assured in the event of the policy holder’s demise during the policy term. ...Read More
1 Crore Term Insurance@ Rs.19/day***
To delay is to regret
You may not always be around to take care of your family. And that’s when a term plan ensures your family is well protected.
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Return of Premium (ROP) Option^
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17% Online Discount**
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Same Day Claim Processing#
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100% Claims guaranteed15
:1800-266-9777
How History of Illness is Important While Buying Term Insurance
Table of Content
1. Why is Full Disclosure of Medical History Important When Buying an Insurance Policy?
2. What are IRDAI Guidelines on Medical Disclosure and How Do They Impact Your Policy?
3. What is the Waiting Period for Pre-Existing Diseases and How Does it Affect Premiums?
Why is Full Disclosure of Medical History Important When Buying an Insurance Policy?
For an insurance provider, complete and thorough information about the policy subscriber’s health is very important. This is because, for an insurance provider, a policy holder suffering from any pre-existing condition like a heart disorder, disability, critical illness etc. comes in the high-risk category of potential investors. In fact, there are certain cases which are liable to be rejected in the application stage due to the presence of any such pre-existing condition. This is where a full disclosure about the history of illness of a person is very important and critical while purchasing a policy. This history may not include only the probable policy holder’s medical history but the general medical history of her/his entire family as well.
What are IRDAI Guidelines on Medical Disclosure and How Do They Impact Your Policy?
As per the guidelines of IRDAI (Insurance Regulatory and Development Authority of India), disclosure of medical history at the time of policy-purchase is mandatory. Moreover, different insurance providers have to follow a common set of guidelines while processing the applications and while evaluating and recording the medic al history of the applicants. This means that the process of medical history-checking and processing the applications is not arbitrary but is transparent. For the applicants, this means that the claim made is liable to get rejected in the event of any withholding of medical information or suppression of medical facts by the policy holder.
What is the Waiting Period for Pre-Existing Diseases and How Does it Affect Premiums?
While providing coverage for pre-existing medical conditions, insurance providers keep a certain time period as waiting-period before the benefits of the policy can be accrued. This waiting period is generally between 2-4 years, depending on the pre-existing condition or disorder in question. Moreover, the rate of payable premiums is also quite higher than that chargeable when no such conditions are present. However, the higher rate of premiums should not deter you from purchasing the policy as the coverage that is being offered is generally sufficient for your needs and requirements
HDFC Life offers various term insurance plans that are meant to act as a futuristic platform for the financial security of your loved ones and have been formulated keeping your financial requirements in mind. For details, click on the mentioned link: https://www.hdfclife.com/term-insurance-plans.
Commonly Asked Questions
- Are optional add-on features and riders actually beneficial for a standard term plan?
- Is it better to buy a separate Critical Illness health policy or just add a rider to my term plan?
- Does the total sum assured increase if I add an Accidental Death Benefit rider?
- Will adding riders change my family's choice between a monthly income or a lump sum payout?
- Do riders complicate the process or increase the chances of a claim rejection?
Related Articles
- Term Insurance Buying Guide - HDFC Life
- Should You Buy Term Insurance For Senior Citizens?
- How to find best term insurance plan in India
- Are You Underrating Term Insurance Policy
- Understand group term insurance plans
- Why do I need a Term Insurance Plan?
Need Help to Buy a Right Plan?
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99.72% Claim Settlement Ratio
For FY 2025-2026
~5 Cr. Number Of Lives Insured
For FY 2024-2025
Disclaimer: By submitting your contact details, you agree to HDFC Life's Privacy Policy and authorize ...Read More
99.72% Claim Settlement Ratio
For FY 2025-2026
~5 Cr. Number Of Lives Insured
For FY 2024-2025
Francis Rodrigues
Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.
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HDFC Life
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HDFC LIFE IS A TRUSTED LIFE INSURANCE PARTNER
We at HDFC Life are committed to offer innovative products and services that enable individuals live a ‘Life of Pride’. For over two decades we have been providing life insurance plans - protection, pension, savings, investment, annuity and health.
*Online Premium for Life Option, Male Life Assured, Non-Smoker, 20 years of age, Policy term of 25 years, Regular pay, Annual frequency, exclusive of taxes and levies as applicable. (Monthly Premium of Rs1047/30=34.9)
***Online Premium for Life Option for HDFC Life Click 2 Protect Supreme Plus (UIN:101N189V01), Male Life Assured, Non-Smoker, salaried, 20 years of age, Policy term of 25 years, Regular pay, Monthly frequency, inclusive of 15% online discount (applicable only for 1st year premium) & exclusive of taxes and levies as applicable. (Monthly Premium of 573/30=19).
**If a customer is a Salaried individual and has opted for a cover of INR 2 Cr with Limited pay, then the total discounts applicable shall be: 10% +7% = 17% discount on the first year premiums.
^ Available under Life & Life Plus plan options
#Provided we have received all the relevant and required documents and no further investigation is required. Claim settlement process would be completed within stipulated timelines once the claim request is approved
@As per integrated annual report FY24-25, available on www.hdfclife.com. As of May 2025
15. HDFC Life Click 2 Protect Ultimate(UIN: 101N179V01) A Non-Linked, Non-Participating, Individual, Pure Risk Premium/Savings Life Insurance Plan. The policy must be in force on the date of death, with all premiums fully paid, except for the exclusion clauses mentioned in Part F of the policy document.
ARN: ED/12/19/17049
