Medical tests for term insurance - What to expect?

Buying term insurance is now easier than ever. You can purchase a policy from the comfort of your home with just a few clicks on your smartphone or laptop. However, there is one step that may require some extra effort – the medical examination. Depending on the insurance provider, this could be conducted in person at your home or at a designated medical facility and also remotely through a telemedical assessment.

Understanding the process in advance can help you be better prepared for the medical test. Let’s take a closer look at these medical tests and what you can expect.

What to expect in a physical medical examination?

A physical medical examination for term insurance is typically conducted at a clinic or diagnostic facility or at your home. The appointment is scheduled by the insurer after discussing with you, and all that is required from your end is to be ready at the appointed time.

During the examination, the doctor may ask you about your health history, lifestyle choices and habits. These questions cover various aspects, such as your diet, sleep patterns, smoking, alcohol consumption and the use of any intoxicating substances. Make sure to answer these questions as honestly and accurately as you can, as providing false information could lead to complications later, including claim rejection.

The doctor will record your health metrics such as height, weight, blood pressure and Body Mass Index (BMI) during the medical examination. They may also collect your blood and urine samples to check for underlying medical conditions. Common medical tests include a complete blood count, blood sugar levels, kidney and liver function tests and a lipid profile to assess your cholesterol levels. Some insurers may also test for conditions such as Human Immunodeficiency Virus (HIV). Additionally, in some cases insurers may require additional tests, such as a treadmill test to assess your heart health, a chest X-ray or an ultrasound for a more detailed analysis of your health. The specific tests depend on factors like your age, policy value and medical history. Some of these tests may require you to be in a fasting state. Therefore, it is advised to confirm the same from the insurer before the medical examination.

If further evaluations are needed, the doctor will inform you during the process. In this case, you may need to undergo further tests on the same day or at a different time.

What to expect in a telemedical assessment?

A telemedical assessment takes place remotely through video calls, phone calls or even emails. It eliminates the need of a physical medical evaluation. The core purpose remains the same, which is to evaluate your medical history, lifestyle habits and current health conditions.

The healthcare professional will ask about factors such as your diet, exercise, smoking, alcohol consumption and any pre-existing medical conditions. In some cases, you may be asked to do self-conducted tests guided by a professional. In other cases, the insurer might send a medical professional to collect your blood and urine samples from home. This makes the process convenient, particularly for Non-Resident Indians (NRIs) applying for term insurance, as it allows them to complete the assessment from their country of residence. If additional tests such as X-rays or treadmill tests are required, the insurer may ask you to visit a diagnostic centre, though this is not always necessary.

The preparation for a telemedical assessment is similar to that for an in-person medical exam. It is advisable to check with the insurer in advance about any specific instructions. Additionally, when answering medical questions, you must remember to be honest and provide accurate information.

Why do you need to undergo a medical test to buy term insurance?

A medical test is an essential step in the term insurance process because it helps insurance companies evaluate your overall health and determine the risk you carry. Your policy’s value, premium, eligibility and even tenure largely depend on your health condition at the time of purchase. This means that the premium you calculated from the online term insurance calculator may be different from the final premium based on your health condition.

If you are in good health, you may qualify for lower premiums, a longer policy tenure and a higher sum assured. On the other hand, if you have pre-existing conditions or are detected with some health concerns during the test, the insurer may charge a higher premium, offer a shorter tenure or reduce the coverage amount. The test essentially helps insurance providers assess risk based on your medical history and lifestyle habits and price the policy accordingly.

While a medical test may seem like an extra step, it is a standard procedure and nothing to worry about. It ensures transparency for both you and the insurer and helps you purchase a term insurance plan that aligns with your health and financial needs.

To sum it up

A medical test is an essential part of the term insurance process, and preparing for it in advance can make the experience smoother. However, keep in mind that this article provides only a general overview. Insurance providers may require additional tests based on their needs, your age and gender and other factors. Therefore, you are advised to clarify the specific requirements with the insurance company beforehand to avoid any surprises.